“Manifest More Money Into Your Life in 7 Steps- Step 2” is part of  a 7 week series that will run every Tuesday until September 28, 2010. The entire series can be found under Money Tips.

Step 2: Eradicate debts.

The next best way to manifest more money is to eliminate debt. How? Make everything you do automatic. Set up an auto pay system for all of your credit card bills and all of your debts.  This way, you don’t have the option of not paying the debt off or paying that bill and getting behind. The easiest things to automate are those bills that are the same amount each month, like a car payment, a loan payment, or a cable bill.

Now most companies offer automatic bill pay through their website but some will let you go into a branch and have them set it up manually. I do however, recommend online for it’s sense of ease as well as 24/7 access.  We have found it very handy when we are on holidays or out of town.

There are two ways you can set up automatic payments: one, with your bank, and the other, with the service provider. In most cases, you will have to utilize both options.

Option 1: Auto with the Bank

To use this option you need to set up your online account and your payees. The setup process will differ with each bank but the outcome is the same. You will be able to log in and schedule payments from your chequing account to payees. Once you have scheduled your payments, electronic money transfers from the bank to the payee will take place without you having to be involved.  Any transactions that take place will show up on your monthly statement so you can review your budget at the end of the month.

Option 2: Auto with the Service Provider

Some companies offer auto bill pay directly. All you need to do is provide the company with a voided cheque and an authorization form. It is similar to the direct deposit process. The company with then withdraw your monthly bill directly from your account, once again, without you needing to be involved.

Not only are these two options better for your financial future, but they are also the greenest option. No more paper printing and buying of stamps to send your payment in the mail. Once you get everything set up, you can reduce lost payments, your amount of time spend paying bills, and increase your ability to focus on manifesting your money.