Paying bills is an unavoidable part of life as an adult. From the electric and water bills to student loans, mortgages, and insurance policies, it might seem like you have too many bill obligations to keep straight.
This is exactly why Prism was created. Prism is an iOS and Android app that makes it simple to track and manage your bills. If you’re always nervous about missing a payment or getting hit with late fees – or worse, a 30-day late statement on your credit report – Prism might be the solution you need.
What is Prism?
Prism is more than just a bill calendar. When you log into Prism, you can see the following information, all in one place:
- Due date of every bill
- Bills coming due in the next week, two weeks, and month
- Amount of money in each of your linked accounts
- The total balance of each linked credit card, in addition to the upcoming minimum payment due
This makes it easy to track and manage your bills, then pay them with a simple swipe.
How Does Prism Work?
Prism is fairly intuitive. All of the effort is front-loaded when you give Prism access to each bill’s account you need to track. Use the search function to select from the 11,000 entities that Prism recognizes for bill payments, then enter your username, password, and PIN to connect through the app. This gives Prism up-to-the-minute information on all of your bills, so you can see accurate information every time you log in.
If any of your billers are not included in Prism’s list of 11,000 creditors, you can request for the biller to be added. In the meantime, you’ll receive an alert for the bill to help you remember to make manual payments.
Prism also needs access to any accounts you want to use to pay your bills, so you simply link your bank accounts the same way. By providing notifications and alerts leading up to the due date of every bill, no payment will blindside you. As long as you pay attention to those alerts, late fees will become a thing of the past.
As an added bonus, Prism even alerts you when the amount of a bill ranges higher than its average. For example, if you normally pay $40 for your water bill, but next month’s payment is $170, Prism will alert you of the suspicious change and give you the opportunity to call the water company an investigate. Even billers make mistakes, and this gives you the chance to catch those mistakes before the extra money comes out of your pocket.
Who Should Use Prism?
Prism is an excellent choice for anybody seeking additional structure and organization to their bill pay system. And since it’s currently free, there’s no harm in giving it a test ride. Viewing all of your bills in one place may give you a new sense of perspective over your financial obligations and prevent you from making impulsive purchases in the future.
If you frequently forget about bills and often get hit with late fees, using Prism could save you hundreds of dollars every month.
Don’t wait to get out of debt! Read this: A Complete, Step-By-Step Guide to Get Out of Debt.