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Why should you use online banking if your current method of bill paying, deposits, and transfers works just fine? Well, today there are simpler ways to do things. No more worries about paying for bills before you head out on a vacation. No more worries that the post office will lose your payment.

Apply some common sense organizational skills along with your internet banking, and you may never worry about late fees again. Why not earn more time to spend with family and friends? If you heed the following 10 tips you might even save yourself some money as well as time.

1. Set up a good filing system. It doesn't have to be complicated and color coded, but there are lots of great files available at office supply stores which will make this easier.
2. Clean out your records and files at the beginning of each year and file away old records where they can easily be found.
3. Use direct deposit for all your income. You'll save time no more standing in line to deposit your check, and you know the amount is credited by the time your bills are due.
4. Have savings automatically withdrawn from your check and deposited to your savings account. Your funds will start drawing interest immediately.
5. Pay your bills automatically by authorizing electronic funds transfers for all ongoing payments like automobile leases, mortgage payments, utility bills, life insurance.
6. For credit card payments participate in online bill payment, or you can pay by telephone.
7. Consolidate your credit cards. Most people need only 2 cards, then you'll have fewer due dates and find it easier to keep track of how much you are actually paying.
8. If you carry a credit card balance use a separate card (with a low interest rate) for any new purchases.
9. Don't charge more than you can pay in full each month.
10. Consolidate IRA, mutual funds, and broker accounts you'll receive only one statement and deal with only one office.

Do remember to balance your checking account and check your online transactions and statements. Banking systems are not perfect since they're written by imperfect humans. You still have to take responsibility for your own funds.

Learn more about this author, Marty Hopkins.
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