quote:

Originally posted by OKCGene:
Hey where's the member who always says "hookers and blow"?

It's your turn!

quote:

Originally posted by LS1 GTO:
The longer you keep the money, the more valuable it becomes.

I think I see a couple of ways to interpret that. What's your viewpoint?

Unfortunately my mortgage company will not allow me to self-escrow without a resultant increase in my interest rate...even if I'm 20% vested. Pretty crappy, if you ask me, but my interest rate is ridiculously low. That being said, if I were allowed to self escrow and pay property taxes on my own, I would set up auto-pay with my bank so that the checks arrived on the due date.

To add, the statements I get do say do not pay with auto-pay from the bank, but guess what? I've paid with auto-pay in the past and didn't hear one complaint. IMHO, that's a whole helluva lot more reliable than my dropping an envelope into the mailbox. No telling where in the hell it'll wind up then...

Pay it now before you do something stupid!

I’d pay it immediately. I pay all my bills on the same day. Makes life easier. Some are paid a couple weeks ahead of the due date.

^ ^ ^ ^
I do too. Just something less to worry about. That money in your bank account isn't generating any interest, it's just sitting there.

Almost everything is autopay and the couple that aren’t I usually pay when I get them. I miss out on squat as far as interest vs getting hammered in late fees and interest if I toss them in a pile and forget to get to them by the due date.

quote:

Originally posted by Jim Shugart:
^ ^ ^ ^
That money in your bank account isn't generating any interest,

Well... mine does. I live off my investments mostly, and some social security, so it sits in a combination of 401k, IRA, various stocks, tax free government bonds, and mutual funds, administered by my guy at Edward Jones until my monthly draw from my account.

And with 3 houses to pay tax on and a 5,000 sq foot warehouse it is not an insignificant amount.

quote:

Originally posted by vthoky:

quote:

Originally posted by OKCGene:
Hey where's the member who always says "hookers and blow"?

It's your turn!

quote:

Originally posted by LS1 GTO:
The longer you keep the money, the more valuable it becomes.

I think I see a couple of ways to interpret that. What's your viewpoint?

You indicated it was your property taxes. The amount due won't incur penalty until after due date (0% loan essentially).

The money you have in pocket can be deposited into a short-term CD and earn 3%-7% (my bank offered a special where six month paid 7% and 12 paid 7.5%).

Now, if you pay the taxes early, the city will do the same (just with a lot more cash)

quote:

Originally posted by LS1 GTO:
The money you have in pocket can be deposited into a short-term CD and earn 3%-7% (my bank offered a special where six month paid 7% and 12 paid 7.5%).

That's where I thought you were going with that.

Oh, and um... Holy smokes! I'd LOVE for my bank to offer 3-7%!! Best I can find right now is 2%, and that's on 13 months.

Have the money? Pay the bills. They are not going to just magically disappear.

I have a very organized bill payment system, using a very detailed spreadsheet I custom built.

If you don’t get any discount for paying early, then I would pay it 5 days before due with my banks online bill pay. I don’t give the govt money too early if I can help it. The money can sit in my account and give me flexibility for a large unforeseen purchase if necessary. Flexibility in the sense that having the extra money allows you options in paying for things.

I voted something better.

Long ago we figured out that I am too busy with whatever work I am doing to be worth a darn at paying bills. Thus, my lovely bride pays the bills. When she gets them, she opens them, looks them over, marks the due date, the amount due, and whether it is a ranch bill or a personal bill. Then she stacks them in order by due date in her “bill spot” on her desk. She used to write the check and mail a week ahead of time, but since moving banks she does almost all of it via bill pay.

We get a 2% discount if the taxes are paid within a certain time period, so it usually gets paid the day I get the notice. I'm the same way with any bill though. When I get a bill, I pay it right then & there. It's just the way I am.

quote:

Originally posted by vthoky:
Bills for property taxes and real estate taxes have arrived already, not due until December.

Question:
When would you choose to pay, and why?
* Wait seven weeks! Why let someone else use my money for that time?

Just as a matter of principal... it's my money until it's due.
Of course, if it's a large amount of money there's also the opportunity cost. But if you aren't investing it, that's probably not much.

I learned two things as a child-never be late for anything and always pay your bills.

I almost always pay my bills the same day I get them in the mail (cable, cell phone, etc.) Though I have been blessed and probably won't be unable to pay them if I wait till near the due date, I have this (perhaps irrational) concern that "something" might happen, so they get paid immediately.

I'd pay it now, if I was the OP, as it feels good not to have anything owing or anyone having any claim on whatever monies I have left.

Bob

This message has been edited. Last edited by: straightshooter1, September 23, 2019 12:43 PM

My checking account pays interest. But I still pay bills as soon as I can regardless of the due date. I don't want the bill "hanging over my head." I don't want to forget it and have it overdue. It's worth it to pay the bill ASAP and be done with it. The 3 cents interest I loose (which is about what it would be for most bills) is not worth having the bill hanging over my head.

quote:

Originally posted by RHINOWSO:
I pay everything via my bank web-bill pay. They either pay directly electronically or mail a bank check.

If it's not due for weeks, I enter it and program it to be paid 3-5 business days early.

This except I go about 10 days early. Learned the hard way to factor in processing incompetence.

typically would pay the bill 'early'

but there are exceptions

----------------------------

As long as your pretty confident you will still have the funds in the account two months from now I would wait. Like others said, I have online bill pay through the bank. I would schedule it to pay a day or two before the due date.

This poll is coming out about the way I expected -- I figured most responders would be of the "go ahead and pay it" mindset.

The interest I'd earn leaving the money in savings for two months is less than negligible, but it's nice to have those dollars on hand in case there's a quickly-recoverable "oh, crap" moment between now and then.

The county wants a piece of the statement back with the check, so the online bill pay thing is out. I may just go ahead and write the checks, then hold onto the envelopes until about two weeks before the due date. That way the payments are ready when they need to go, and the dollars are still mine until right before that time.