Automatic Bill Payment vs. Manual Payment Cost Calculator

Number of Bills Paid Manually per Month:

Of those, number paid by Mail (requiring postage):

Average Time Spent per Manual Bill (minutes):

Your Estimated Value of Time ($/hour):

Cost of One Postage Stamp:

Cost per Check/Envelope (if mailing):

Est. Late Payments Per Year (with manual method):

Average Late Fee Amount:

Manual Payments with Convenience Fee (per month):

Avg. Convenience Fee per such Payment:

Total Monthly Discount from all Autopay Enrollments:

Est. Overdrafts Per Year due to Autopay (Optional):

Average Bank Overdraft Fee (if overdraft occurs):

Manual Payments: Offer more direct control over payment timing for each bill; however, they require consistent effort, time, and carry a higher risk of human error leading to late fees or missed payments which can impact credit scores.
Automatic Payments: Provide convenience, save time, reduce the chance of late payments (positively impacting credit), and may come with discounts. The primary risk is overdraft fees if bank account balances are not carefully managed. Regular monitoring of statements is still important to catch errors or unexpected charge amounts.