Name: How Autopay Can Cost You Money
Uploaded: 2023-10-09T21:20:00Z
Duration: 7 min 6 s
Description: Paying bills through automatic payments can be an easy way of managing your balances. Wall Street Journal personal-finance reporter Imani Moise joins host J.R. Whalen to discuss how it can also lead to unexpected expenses and hurt your credit score. Photo Illustration: The Wall Street Journal, iStock

https://www.barrons.com/client

Topics

Memberships

Tools

Customer Service

Network

Newsstand

For Business

For Education

For Advertisers

Account

About Barron's

bolded

unBolded

Under CEO Cristiano Amon, semiconductor company Qualcomm is bringing its technology to multiple industries. This conversation was recorded on May 28, 2025.

https://m.wsj.net/video/20250717/f95245f1-1b2d-453e-a058-30d6a835822a/1/hls/manifest-hd-wifi.m3u8

Qualcomm CEO Shares the Company's Disruption Strategy

That's according to Okta CEO Todd McKinnon, who also spoke about how the company's name is tied to pilots and why flexibility is a core aspect of Okta's business.

https://m.wsj.net/video/20250710/d3fadd54-0fc6-4961-a2c0-0d858131e3c7/1/hls/manifest-hd-wifi.m3u8

Why Okta Wants 'Authentication to Disappear'

Dr. Robert Grossman, CEO of NYU Langone Health, which has consistently ranked as one of the best hospitals in the nation. talked about the Trump administration's plans to significantly cut the budget of the National Institutes of Health (NIH).

https://m.wsj.net/video/20250715/02e28b09-0b7e-4a48-8227-6dbbb42d9598/1/hls/manifest-hd-wifi.m3u8

NYU Langone CEO on NIH Cuts: 'That Takes a Scalpel, Not a Sledgehammer'

Though quality of care is excellent in the U.S., access to care needs to be improved, said Dr. Robert Grossman, CEO of NYU Langone Health, which has consistently ranked as one of the best hospitals in the nation.

https://m.wsj.net/video/20250715/fc3563ea-508b-4d6d-b32a-a77f939c6e5b/1/hls/manifest-hd-wifi.m3u8

NYU Langone CEO Says This Can Help the U.S. Government Fix Healthcare

Dr. Robert Grossman, CEO of NYU Langone Health, spoke to At Barron's about how the health system has transformed and changes he made along the way.

https://m.wsj.net/video/20250703/c25a5233-a5a6-48c9-bf10-ea3948ab7d7b/1/hls/manifest-hd-wifi.m3u8

How This Massive NYC Health System Changed Its Business Model

"The economic implications for the U.S. are profound," said Greg Case, CEO of Aon.

https://m.wsj.net/video/20250709/57231b7d-6d25-4c2e-ae5c-f0b6a6299196/1/hls/manifest-hd-wifi.m3u8

Why Aon's CEO Is Betting on GLP-1 and Other Weight-Loss Meds

"It creates opportunity, which is terrific, but it also creates volatility," said Greg Case, CEO of Aon, talking about the connectivity and complexity underpinning today's business environment.

https://m.wsj.net/video/20250709/c5c85274-4515-484f-8cf4-2a6b3056b927/1/hls/manifest-hd-wifi.m3u8

Why Aon's CEO Thinks Volatility Isn't Going Anywhere

Greg Case, CEO of Aon, explains 4 causes of global volatility the risk manager helps clients navigate.

https://m.wsj.net/video/20250626/65d52c3a-2940-4439-acfa-78e7f53dde15/1/hls/manifest-hd-wifi.m3u8

4 Megatrends That Cause Volatility in the World: Aon CEO

Scott Bok, the former board chair of the University of Pennsylvania, breaks down the financial risks and implications that come with removing tax-exempt status from colleges and universities.

https://m.wsj.net/video/20250709/c8469d5c-8f50-48fd-acb8-97f3b510ea21/1/hls/manifest-hd-wifi.m3u8

Taking Away Tax-Exempt Status: A “Nuclear Weapon Against Universities”

At Barron's

Saira Malik, chief investment officer of Nuveen, makes the case for more gains in 2023.

https://m.wsj.net/video/20230925/4d8aa5ee-77aa-4400-884b-1fafeff893ec/1/hls/manifest-hd-wifi.m3u8

S&P 4700?

David Bailin, chief investment officer of Citi Global Wealth, offers his take on the latest IPO activity and what it says about the strength of capital markets.

https://m.wsj.net/video/20230925/5f4d4a28-d83a-40e3-ad94-28bc25b1c3bc/1/hls/manifest-hd-wifi.m3u8

IPOs: Making a Comeback

Chris Harvey, head of equity strategy at Wells Fargo Securities, explains what would make him more bullish on stocks and when he sees a Fed rate cut coming.

https://m.wsj.net/video/20230918/1f534ddf-5da9-4d1d-9926-fda63e90468e/1/hls/manifest-hd-wifi.m3u8

Cuts on the Horizon?

Tom Kennedy, chief investment strategist for J.P. Morgan Global Wealth Management, explains why he thinks concerns around a slowdown in China are overblown.

https://m.wsj.net/video/20230918/09304272-5f0c-49df-892a-3a3d4622c9c3/1/hls/manifest-hd-wifi.m3u8

Evaluating China Risk

Liz Young, head of investment strategy at SoFi, discusses how market moving the August inflation data could be.

https://m.wsj.net/video/20230911/50b8c6b4-8fd3-4d6f-adff-dd0a024a57d7/1/hls/manifest-hd-wifi.m3u8

Inflation in the Spotlight

Lindsey Piegza, chief economist at Stifel, offers her take on the biggest risks to the economy right now.

https://m.wsj.net/video/20230911/cac885e4-b322-40f8-876c-ebd443fe9d29/1/hls/manifest-hd-wifi.m3u8

Assessing Economic Headwinds 

Dan Ives, managing director and senior equity analyst at Wedbush Securities, explains why he thinks Apple will continue to be a market leader.

https://m.wsj.net/video/20230905/1a48f030-5a5a-401c-a571-ec9115a0155e/1/hls/manifest-hd-wifi.m3u8

Prove-me Moment

Ross Mayfield, investment strategy analyst at Baird, highlights bullish catalysts that could drive the market higher between now and year-end.

https://m.wsj.net/video/20230905/729974df-4594-4fc6-a385-5457b1d87e32/1/hls/manifest-hd-wifi.m3u8

Gearing up for a Rally

Matthew Luzzetti, chief U.S. economist at Deutsche Bank, discusses what’s next for the Federal Reserve and the economy.

https://m.wsj.net/video/20230501/7264fcc9-eea9-4d99-b839-4cd4c20500c9/1/hls/manifest-hd-wifi.m3u8

Recession Ahead 

MarketBrief | Clips

MarketBrief Clips

David Bailin of Citi Global Wealth and Saira Malik of Nuveen debate the probability of a recession and discuss where they’re finding opportunities in equities and fixed income.

https://m.wsj.net/video/20230925/a61dd831-40b8-4727-934f-077d2b880711/1/hls/manifest-hd-wifi.m3u8

Investing in a Slowing Economy 

Take stock of your investments in less than 10 minutes with new show from Barron’s and MarketWatch.

Chris Harvey of Wells Fargo Securities explains why he believes the Federal Reserve is done hiking interest rates while J.P. Morgan Global Wealth Management’s Tom Kennedy makes the case for multi-asset investing.

https://m.wsj.net/video/20230918/84e9a4a4-4e50-4b7b-934c-9a532f9803fc/1/hls/manifest-hd-wifi.m3u8

Rate Hikes in the Rearview?

Lindsey Piegza of Stifel discusses the upside risks for inflation while SoFi’s Liz Young explains why she’s cautious on the market through year-end.

https://m.wsj.net/video/20230911/395ecb74-e349-45b0-a6b8-f91b8874aaf8/1/hls/manifest-hd-wifi.m3u8

Pricing Pressure & Frothy Valuations

Baird’s Ross Mayfield makes the case for a better than expected September for stocks while Dan Ives of Wedbush Securities explains why big tech can rally another 15%.

https://m.wsj.net/video/20230905/156bf778-e13d-41ef-b750-55e2ef1c0162/1/hls/manifest-hd-wifi.m3u8

September to Remember? 

Kristen Bitterly of Citi Global Wealth Management explains why the strong start to the year is nothing more than a bear market rally while Eric Winograd of AllianceBernstein offers his outlook for the Fed, inflation, and the labor market.

https://m.wsj.net/video/20230220/ae07e591-f017-4e82-babb-c80144e7d42f/1/hls/manifest-hd-wifi.m3u8

Time to be Skeptical?

Anastasia Amoroso of iCapital explains why she thinks the stock market rally is nearing a ceiling while U.S. Bank Wealth Management’s Lisa Erickson discusses where she’s finding investment opportunities in an uncertain environment.

https://m.wsj.net/video/20230213/61be15a3-f5ac-4a25-b944-edd15e605e30/1/hls/manifest-hd-wifi.m3u8

Hitting a Wall

Jack Manley of J.P. Morgan Asset Management explains why now is the time to leg back into risk assets while BlackRock’s Rick Rieder offers his top fixed income opportunities.

https://m.wsj.net/video/20230206/0be0daa9-d29a-4350-b277-a9ee6ed9a2ea/1/hls/manifest-hd-wifi.m3u8

Two Ways to Play

Amid impressive January gains, Cameron Dawson of New Edge Wealth discusses how she’s positioning her portfolio and Mark Zandi of Moody's Analytics explains why he thinks the economy can still avoid a recession.

https://m.wsj.net/video/20230130/a8c37d62-592b-4830-9466-65c3824205fe/1/hls/manifest-hd-wifi.m3u8

Gauging Upside Potential

Mike Schumacher of Wells Fargo Securities explains why he’s nervous about stagflation while Sylvia Jablonski of Defiance Investments offers her top portfolio picks.

https://m.wsj.net/video/20230123/1e752a76-b7d4-4802-821a-837d6176f979/1/hls/manifest-hd-wifi.m3u8

Wall Street’s Biggest Risk

MarketBrief | Full Episodes

MarketBrief Full Episodes

After 10 straight hikes, the central bank switched gears and opted to keep rates steady. But that doesn't mean the Fed's inflation fight is over.

https://m.wsj.net/video/20230616/9dce6e5c-4c62-4aa6-b432-d3407ac41aea/1/hls/manifest-hd-wifi.m3u8

The Fed's Rate Pause, Explained

A publicly traded company can increase it's number of shares available by splitting its stock. Here's why companies may do it and how it affects investors.

https://m.wsj.net/video/20221115/f37dedad-4403-4f6d-bd22-067d0fb148df/1/hls/manifest-hd-wifi.m3u8

Stock Splits Are Big This Year. Here's What They Mean for Investors.

Here's why a publicly traded company may decide to go private and what it means for its shareholders.

https://m.wsj.net/video/20221025/9fb3fa20-e2ac-485b-aa4d-8fcf3ebd3151/1/hls/manifest-hd-wifi.m3u8

What Happens When a Stock Goes Private?

What Happens When a Public Company Goes Private?

When saving for retirement, there are many different accounts and tax strategies to consider. Here's how to tell if a Roth IRA conversion could be right for you.

https://m.wsj.net/video/20221021/624f992c-db58-4144-93cc-b888c6948059/1/hls/manifest-hd-wifi.m3u8

What to Know About Roth IRA Conversions

As recession fears loom, here are three ways investors can prepare and protect their portfolios.

https://m.wsj.net/video/20221020/5d94fa79-7b6d-4c51-8ac7-8c523c99d487/1/hls/manifest-hd-wifi.m3u8

Preparing Your Portfolio for a Recession

Retiring abroad could lower your cost of living, so you can make your savings go further in your golden years. But a permanent move to a new country could be more complicated than you think. Here's what you should know.

https://m.wsj.net/video/20220823/7a028383-44a0-4957-a070-0018f046ec97/1/hls/manifest-hd-wifi.m3u8

Thinking Of Retiring Abroad? Here's What to Consider.

Billionaire-backed space companies have made space tourism a reality. How to participate in a potential private-sector space boom.

https://m.wsj.net/video/20220818/99bac587-9be5-48e6-9376-48f3bb8d55cf/1/hls/manifest-hd-wifi.m3u8

How To Invest In Space Tourism

When you hear the words 'electric vehicle', you might immediately think 'Tesla'. But as more automakers enter the EV competition, Tesla might have trouble holding its lead. Here's what investors need to know.

https://m.wsj.net/video/20220722/111776c7-d9d2-4cd2-8194-4c58b0cb7e57/1/hls/manifest-hd-wifi.m3u8

Is Tesla Miles Ahead of Others in the Electric Vehicle Race?

Chinese tech company DiDi Global, which runs a ride-sharing app, has announced it plans to delist from the New York Stock Exchange. Investors are watching and waiting to see what other Chinese giants with U.S. listings, like Alibaba and JD.com, will do. Here's what delisting entails.

https://m.wsj.net/video/20220722/eacf026e-7303-4eb7-80ab-3e2344e2b120/1/hls/manifest-hd-wifi.m3u8

What Happens When a Stock Delists?

Barron's Explains

CEO Cristiano Amon has a plan to shrink Qualcomm’s reliance on phones and grow its role in AI, cars, and beyond. Investors are skeptical—should they be?

https://m.wsj.net/video/20241127/99579ccd-a5c1-4acc-ac31-32469f7d8b1c/1/hls/manifest-hd-wifi.m3u8

What's Next for Qualcomm?

On the Barron's Streetwise Podcast, Barron’s senior writer Al Root sits down with Jack Hough to discuss Toyota’s recent success with hybrids, the coolest cars at the New York Auto Show, and what’s ahead for Tesla stock.

https://m.wsj.net/video/20240329/f163bbd7-0cb6-4c6f-b7f9-a85ae5cd2553/1/hls/manifest-hd-wifi.m3u8

Is Electric Vehicle Demand Cooling Off? 

On the Barron’s Streetwise podcast, Rystad Energy’s Alexandre Ramos Peon discusses how U.S. oil producers have boosted profitability and production despite fewer wells.

https://m.wsj.net/video/20240326/0a4b30c7-379c-460f-abc3-838a7f1eb1a9/1/hls/manifest-hd-wifi.m3u8

The Outlook for Oil

On the Barron’s Streetwise Podcast, Jack Hough pushes back against one of Bitcoin’s most popular valuation models.

https://m.wsj.net/video/20240318/b38cc34a-5064-4a6a-a47c-4c855de11973/1/hls/manifest-hd-wifi.m3u8

Bitcoin as 'Digital Gold' 

On the Barron’s Streetwise podcast, Raphael Zagury of Swan Bitcoin shares his bitcoin price model with Associate Editor Jack Hough.

https://m.wsj.net/video/20240312/c0acb0bf-e4e3-46ca-8fd5-13af6fa401e5/1/hls/manifest-hd-wifi.m3u8

The $600,000 Case for Bitcoin

Kathy Jones, Chief Fixed Income Strategist at Schwab, says it might not matter. Plus, the outlook for yields and the national debt.

https://m.wsj.net/video/20240305/0505813c-e38b-47cb-ade2-e7c3aff68dbd/1/hls/manifest-hd-wifi.m3u8

Bond Funds or Individual Bonds?

Brian Niccol on developing new customer favorites, taking menu tips from TikTok, and the outlook for growing the business.

https://m.wsj.net/video/20230725/dec91556-4dbe-49e6-85d9-ed0e8233ac02/1/hls/manifest-hd-wifi.m3u8

Chipotle's CEO on How He Plans to Double the Business. Again.

Jim Farley on competing with Tesla, and why Ford is favoring Level 3 autonomy over full self-driving capability.

https://m.wsj.net/video/20230519/9aa4288a-39a1-4fb8-8b9d-3be0c58adc18/1/hls/manifest-hd-wifi.m3u8

Ford CEO On the Outlook for EVs and Robo Cars

J.P. Morgan Asset Management's David Kelly says inflation is like a rollercoaster: It will come down again.

https://m.wsj.net/video/20230505/5d8d3d70-598d-4ee4-a76e-21381c911e40/1/hls/manifest-hd-wifi.m3u8

Inflation, Attractive Bonds, and Value Abroad

Barron's Streetwise

Stocks are expensive, risks abound, and AI is about to change the world. Other than that, building a calamity-proof retirement portfolio should be a cinch. Tune in as two veteran money managers size up the markets and share their investment ideas.

https://m.wsj.net/video/20250211/17a5e7d6-7c36-44b0-a35e-bf5ac3a24194/1/hls/manifest-hd-wifi.m3u8

Saving for a Sunny Day

Research shows that people greatly underestimate the healthcare costs they’ll face in retirement. Learn from experts how to estimate those costs, prepare for potential long-term care needs, and manage healthcare expenses in retirement.

https://m.wsj.net/video/20250211/e7c022d9-badf-4e95-8e7c-0b6fce9f7823/1/hls/manifest-hd-wifi.m3u8

Are You Fiscally Fit?

Surging power demand, new energy sources, and growing competition have spurred the utility industry to become more innovative than ever before. Our panelists will unpack the changes afoot and explore what lies ahead for companies, customers, and investors.

https://m.wsj.net/video/20240917/001ea098-1fcc-4da5-9f0e-a3b149bbb2fb/1/hls/manifest-hd-wifi.m3u8

Not Your Father's Utility

Modernizing America's grid will take creativity and money -- lots of money. Learn how players across the power sector can achieve their electrification goals and serve new customers without breaking the bank for consumers.

https://m.wsj.net/video/20240917/bd6bd43a-bb07-4b7f-9d1c-6ae04220bea9/1/hls/manifest-hd-wifi.m3u8

Ready for a Revamp?

The launch this year of Bitcoin ETFs has made it easier for investors to buy and trade the cryptocurrency. But is that a wise move, and if so, how much crypto should you own?

https://m.wsj.net/video/20240529/cbb77f15-ef70-445d-85ae-5f02c24ea1ef/1/hls/manifest-hd-wifi.m3u8

Investing in Cryptocurrencies

Bitcoin and other digital currencies reside on software networks that aim to revolutionize everything from finance to art. Barron's talks to industry experts about the outlook for blockchain technology and its potential uses.

https://m.wsj.net/video/20240529/8f60a5ea-6de4-4c3c-b7c2-12b11aaa99f3/1/hls/manifest-hd-wifi.m3u8

Is Crypto Really a Game-Changer?

Persistent inflation means retirement savings don't go as far as they once did. We discuss the best inflation hedges, and how retirees can benefit from higher-for-longer interest rates.

https://m.wsj.net/video/20240429/69577ad6-cbaf-4d34-96f1-c42136e26aa2/1/hls/manifest-hd-wifi.m3u8

Protecting Your Nest Egg from Rising Prices

The impact of inflation is felt unevenly across the economy and markets. Learn which industries, and companies do best in a “sticky” inflation era, and how fixed income, alternative assets, and gold can help investors hedge against further price growth.

https://m.wsj.net/video/20240429/bfee3cb8-715f-4323-929f-43a73fd58877/1/hls/manifest-hd-wifi.m3u8

Don’t Trim Your Inflation Hedges

Science, tech, and better healthcare delivery are helping people live longer and improving quality of life. Two healthcare investment experts tell us about some of the most promising developments in medicine, and the companies behind them.

https://m.wsj.net/video/20240305/33bed2b1-bdef-401f-bb72-18f7a43f2548/1/hls/manifest-hd-wifi.m3u8

Longevity: An Investor's Playbook

Barron's Roundtable

Barron's Advisor The Way Forward

Investing in Tech

Barron's Investing in Tech Clips

A Better Economy & Wealth Gap Events

Wealth Gap

Level Up

Barron's Events

Back to Business

Great Investors

MarketWatch

Video Center - Barron's home

Paying bills through automatic payments can be an easy way of managing your balances. Wall Street Journal personal-finance reporter Imani Moise joins host J.R. Whalen to discuss how it can also lead to unexpected expenses and hurt your credit score. Photo Illustration: The Wall Street Journal, iStock

https://m.wsj.net/video/20231009/97cbc657-ed8a-4a2d-84f1-6719fd714cdd/1/hls/manifest-hd-wifi.m3u8

How Autopay Can Cost You Money

J.R.: Here's "Your Money Briefing" for Monday, October 9th. I'm J.R. Whalen for "The Wall Street Journal". Autopay is a convenient way to pay bills, but for many consumers, it winds up costing them money. "Wall Street Journal" Personal Finance Reporter Imani Moise joins me to discuss. So Imani, I've got a lot of my bills set up for autopay. Is that pretty typical?

Imani: Absolutely, especially in 2023. So Fiserv, a payment processing company, they say that almost 80% of Americans have autopay set up for at least one of their bills, but it's a lot more common for fixed expenses like maybe your cable bill than things that fluctuate from month-to-month like a credit card bill.

J.R.: Why has autopay become so popular?

Imani: Because it's so easy. A lot of people don't really like to think about their bills if they can help it. So if setting up autopay is one less thing you have to worry about, a lot of people would prefer to set it and forget it.

J.R.: You mentioned people use it for cable bills and maybe sometimes credit card bills. What other types of bills do people typically use automatic payment programs for?

Imani: Well, automatic payments is really just a fancier way of saying that you're authorizing another entity to take money from your account. So if you have any type of subscription product like a magazine or a gym membership, that's already happening on a recurring basis.

J.R.: Now setting up automatic payments in advance seems like a good way to avoid missed or late payments. And yet, in your reporting, you found that total fees and interest paid by credit card holders rose 19% from 2015 to 2020. How did that happen?

Imani: In theory, the benefit of autopay that it's supposed to help consumers be better about paying their bills on time so that they afford late fees, but what I found in my reporting is that people who use autopay tend to pay a smaller percentage of their bills overall compared to when they would make manual payments. So in a situation with a credit card, if you're paying less of that balance, that means you're potentially paying more in interest.

J.R.: Why would people choose to pay less?

Imani: It's all about the default. So when you're setting up autopay, you're typically presented with three options. You could set it for your minimum payment, pay in full every month, or you could set a custom, flat dollar amount to pay every month. Most people, they tend to stick with the two extremes since it's the easiest setting than entering your own custom amount. But when someone selects pay in full, they're more likely to change their setting over time because that's not always affordable. When people select minimum payment, they tend to keep that setting, and since it's automated, meaning they don't have to worry about it, they're less likely to go back, pay their bill and make additional payments so that they're not just making the minimum payment.

J.R.: That minimum payment option you mentioned may be more affordable, but now the consumer is on the hook for interest as well, right?

Imani: Yes, when you're making a minimum payment, you're typically paying a lot more in interest because the way that the requirements are set up, they're different from account-to-account, depending on where you get your credit card from, but that minimum payment typically only represents like 2% of your overall bill. That's not very much, and it is not a really good way to get out of debt if that's your goal.

J.R.: So let's say I sign up for autopay somewhere. Does that have an effect on my credit score?

Imani: Not directly. It can benefit your score if it helps you avoid missed payments because not missing payments makes up a good percentage of your score, but signing up for autopay by itself doesn't necessarily have an impact on your score.

J.R.: But what happens if someone's enrolled in autopay, but when the payment day comes, and they have insufficient funds in their bank account?

Imani: So if you don't have an overdraft protection set up, then that payment will be rejected. So an issuer will typically try that payment twice, maybe a few days apart to give you a chance to transfer some money. But after two returned payments, they tend to just unenroll that customer from autopay. Being unenrolled doesn't have a direct impact on your credit score because that's not reported to the bureaus. However, your lender's probably gonna be taking a closer look at your account because now, they think that you're potentially a riskier customer. And that means that maybe they're less likely to extend you more credit if you apply for it, or they could even reduce your credit limit.

J.R.: And that could affect credit card applications, mortgages, and things like that down the line?

Imani: Yes, because if you have a lower limit, then your credit utilization usually goes up, and that has a direct impact on your credit score.

J.R.: So there's some responsibility here with the consumer to manage their spending.

Imani: Financial advisors say that autopay is really only a good option for people who have reliable income and steady spending habits because otherwise, you risk funding more than you could pay off in any given month, and then you're facing potential overdraft fees, or return payments and late fees, and that quickly can offset any savings that you'll have from autopay and potentially create more headaches for you to deal with when autopay was supposed to make your life easier.

J.R.: What other risks with autopay should people be aware of?

Imani: More broadly than just credit cards, you wanna make sure that you're keeping tabs on all of the automatic payments that you have set up just to make sure that you don't end up paying for things that you no longer need. For example, a gym membership in a city that you no longer live in, or maybe you're paying for a magazine that you no longer read. Regularly, checking your statements is a good way to keep tabs on what payments are coming out, and if you see something that shouldn't be there, you should call your bank right away.

J.R.: So how do credit experts say people should approach autopay so it doesn't cost them money or appear risky to banks?

Imani: The best option, if you can afford it, is to set your autopay to pay off in full. Now, if you don't trust yourself and there's a risk that you'll overspend one month, what you should do is set your own mental limit and set an autopay to match that limit. So say that's gonna restrict yourself to spending $500 on your credit card a month. Set your autopay to $500. Another strategy that you can try is to schedule your autopay days to match up with your income. So on the days that you've receive your paycheck, that way, you know for a fact that money's gonna be in your account, and you're not at risk of spending it before that autopay gets triggered. Lastly, financial advisors say there's also value in just doing things the old school way. So setting up reminders and paying your balance yourself, that way, you have a dedicated time to check over your statement every month, review your finances, and look for any fraudulent charges.

J.R.: That's "Wall Street Journal" Personal Finance Reporter Imani Moise. And that's it for "Your Money Briefing". Today's show is produced by Ariana Aspuru, with Supervising Producer Melony Roy, and Deputy Editor Chris Zinsli. I'm J.R. Whalen for "The Wall Street Journal". We'll be back tomorrow morning. Thanks for listening.

WSJ's Your Money Briefing podcast is your personal-finance and career checklist. Finance reporters and experts break down complicated money questions every weekday to help you make better decisions about managing your money. 

How Autopay Can Cost You Money

Your Money Briefing

Up Next

At Barron's

View All

MarketBrief Clips

View All

MarketBrief Full Episodes

View All

Barron's Explains

View All

Barron's Streetwise

View All

Barron's Roundtable

View All

Barron's Investing in Tech Clips

View All

Wealth Gap

View All

Level Up

View All

Barron's Events

View All

Back to Business

View All

Great Investors

View All

MarketWatch

View All