– I’m all for systems that translate into as little work as possible to maintain.  Auto-draft should be your best friend when it comes to paying bills.  Sitting at your table writing checks or navigating to each website to pay bills is so 2004.  That doesn’t give you license to not pay attention, though.  I still get paper bills so that I have to open them and see them each month.

– Auto-draft is also how you ought to be investing!  Take a lesson from the Ronco Showtime Rotisserie, and “Set it and forget it!”  Your 401(k) and traditional IRA should be coming from your paycheck before you see it, and your Roth IRA and other non-retirement investments can be drafted directly from your checking account.  You specify the amount, you specify the date, and it happens without thinking about it.

– With all my love for automatic draft, there NEVER use it in a debt collection situation.  If you have a bad debt, do not, under any circumstances give electronic access to your checking account to settle the account.  Have a cashier’s check or money order drafted from your account by your bank, and mail it to them.  Why do it this way?  If you give electronic access after agreeing to a settlement, collectors will clean you out!