Yep.
Make sure you renew your domains EARLY. I remember I was within 5 days of expiration of a couple, and their payment processor was down, or some other excuse. They could not process the payment, and I had to rip them a new one, and they finally did a manual transaction outside of their processor to make sure I did not lose my domains.
So do it in advance to make sure you do not run into grief.
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Enough Said. 
"Would you rather live like a king for a year or like a prince forever?"
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