Paying for car insurance
 

My insurance gives me the option of paying the whole 6 months at a time, for about a $50 discount. I was just wondering . . . does anybody do this/think this is worth it? Or do we all just pay month by month?

I say pay all 6 if you can - why wouldn't you? Are you not going to need it or something?

I dunno. It just seems like for convenience and budgeting, a monthly amount is easier to handle, even if it does cost a bit more.

If you have the money, I'd pay it all now. You'll save $50! If you don't have the money, then month to month it is.

This is why poor people stay poor. This is just one example of how poor people end up paying more for the same products and services that wealthier people get for a lower price.

Good point glatt.

I would pay it all, if you have the resources, just to not have to worry about it every month. But I'm forgetful. Until I went on BILLPAYER 2000 (it's an automatic bank deduction every month, but I have to laugh, it reminds me of Leisure Suit Larry) I forgot my electric bill TWICE and came home to no electric, and too late to get it turned on that night.

lump sum, get the discount, no contest.

Suppose you found a $100.00 - If you could, would you pick it up?

sure.

and spend it all on books.

the monthly budgeting is harder, though. I'd have to remember to pay into my savings an equivalent amount each month, in order to have enough for the next lump sum installment. Which is harder to do.

set up an automatic payment

no, I HATE those. I want to be able to move my own damn money. I'm the only one in my office who doesn't even have direct deposit of their paycheck. Which means I get my money one day earlier, even if I have to deposit the thing myself.

We went auto on everything we could. It's done wonders for our credit rating. :thumb:

All at once if you can.

It's weird how things like that and similar to it are figured. Auto insurance isn't so bad. Pay the full six and you get the discount. With mine all I would save is the monthly fee of $3.00. That would amount to $18.00 or a six-pack of Redi-Whip.

then write a note in your diary.

I'd get my paycheck on Thursday, deposit it on the way home from work, and the money wouldn't be in my account until Monday or Tuesday. With direct deposit, the money is there Wednesday midnight, without fail... at least for the past 6 years.

when i bought my truck in july i paid for 6 months insurance off the muscle. even though i wasn't (and am still not) working. got it done to get it over with and not have to worry about until december/january. if you have the resources, by all means do it. pay it all at once.

So you don't use TD Bank.

Many years ago, probably 35, when Westinghouse first offered direct deposit to their engineers, I remember one time the deposits for a half dozen people going to the same bank, were all dumped into the account of the first guy on the list.

Shit happens when computers and people interact. Payments and bounced checks can be straightened out later, but I always try to keep $500 cash on hand, just in case.

good idea.

I am too like you cloud. I like to move my own cash around but I do have auto pay for fixed amounts like the auto insurance and I pay by electronic self bill pay for all others. I hardly ever use a check. It's easier to budget when you pay electronically. I think if you tried it you would like it.

problem is I don't get paid on a set day of the month, so I'm always afraid that there won't be enough in the account on the day that's "automatic."

I pay all my bills electronically now, except for the electric bill, because they charge 2.50 or something to e-pay.

Do you have a savings account connected to your checking account? If so, then you can move 1/6 of your bill from checking to savings each month, just like you were paying the bill. Then move it back and pay the check at the 6 month mark.

At our bank, you can do transfers over the phone.