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Bottom Line Up Front

  • Recurring payments are bills that are automatically paid out of your bank account.
  • Digital banking tools can help you stay on top of automatic payments so your cash flow is steady and you can avoid late payments.

Time to Read

3 minutes

June 7, 2022

From streaming subscriptions to gym memberships, there are more and more automatic payment services that bill you at regular intervals. Here’s how to manage recurring payments so you can keep track of your cash flow and avoid late payments. 

How do recurring payments work?

Recurring billing is a payment model where bills are paid out of your bank account on a set billing cycle. This payment method can be used for everything from your credit card to your cable account. Automation makes paying bills quick and convenient—but it also makes it very easy to lose track of your cash flow.

Digital tools help you manage your cash flow

The good news is, there are tools you can use to manage your recurring payments. Start by taking stock of where and when your money is coming and going. Go through your bank account and notice when more is being taken out than you have coming in. Then you can figure out why that’s happening. 

Automatic Bill Pay and Transfers 

With that in mind, you can set up automatic payments based on each subscription services’ billing cycle. If you have a mortgage through Navy Federal Credit Union, using HomeSquad (our mortgage portal) to set up online payments is your best bet. For other Navy Federal loans, such as credit cards, you can use the Transfers feature through online banking to schedule customer payments up to a year in advance. For other service providers, such as utilities and subscription businesses, use Bill Pay, which lets you set up payees (like your landlord or small businesses) for easy payment processing. Automatic payments will help you avoid late payments on monthly fees. 


The simplest tool of all? Activate email, text or mobile push notifications to tell you when your account is low. With these digital tools, you’ll soon find it as easy to stay on top of recurring payments as it was to set them up in the first place.

Next Steps Next Steps

  1. Recurring payments automate your bills, but you still need to track where your money is going. Use  our Monthly Spending Calculator to track expenses.
  2. If you need to make a quick and rough estimate of your monthly payments, try our simple loan calculator.
  3. It can be useful to track your various recurring payments in one place on your phone. Read a review of various apps for that purpose and try one out. Then, look back at your account with us to confirm your findings. 


This content is intended to provide general information and shouldn't be considered legal, tax or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.