Technology has made sticking to a budget easier through the use of auto-payments. With auto-payments, it’s possible to arrange to have the money you owe for bills and subscriptions deducted directly from your bank account on a specific date each month. This can help you…

Technology has made sticking to a budget easier through the use of auto-payments. With auto-payments, it’s possible to arrange to have the money you owe for bills and subscriptions deducted directly from your bank account on a specific date each month. This can help you avoid penalties and interest associated with late payments, and make managing your money easier.

Unfortunately, there’s a downside to auto-payments: they’re easy to forget. If you don’t stay on top of them, you might continue to pay for items that you don’t really need—or want—anymore.

Review your auto-payments

Maybe you’re paying for the Netflix DVD service when all you use is the streaming service. Perhaps you’re paying for a gym membership when you haven’t been there in months. I recently realized that I’ve been paying for a monthly subscription to an online publication that I don’t read anymore.

Go through your account statements for your checking, savings, and credit card accounts. Are there recurring charges in the form of auto-payments? List out which items are paid automatically, taking care to record the name of the company and the amount sent each month.

Next, review each auto-pay account. Ask yourself the following...