bill-payment

Vocabulary Word

Definition

'Bill-payment' is the process of paying fees or dues for services or goods consumed. You probably do it every month, like paying for your cell phone or internet.

Examples in Different Contexts

Automatic bill payment services automatically withdraw funds to pay recurring bills, ensuring payments are never missed. A personal finance advisor might recommend, 'Setting up automatic bill payments for your utilities can help manage your budget more effectively and avoid late payments.'

Practice Scenarios

Creative

Scenario:

The current design tools are missing some features for our new project. Do you think we should upgrade our subscription?

Response:

If it helps us deliver better designs, I think we should go for it. Let's proceed with the bill-payment for upgrading the design tools.

Business

Scenario:

Since we have shifted to remote work, the utility expenses have reduced drastically. We need to account for these savings.

Response:

We should recalculate the bill-payments considering the reduction in utilities cost.