Paying Bills

I don't pay on time.

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Paying Bills

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May 08, 2011
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Automated Bill Paying
by: roelarin

I tend to get bills in the mail, mean to pay them, and then lose them and forget about them. What I ended up doing was automating as many bills as I could to go through my chequing account automatically. This is most of the utilities and credit cards. That way the bank remembers when I forget. You can generally choose which day of the month is best for you (like right after pay day). I also arranged to have a small overdraft available in case anything slipped through so nothing would get returned. For any that I can't arrange this for, I have had to discipline myself to keep the bill in my hand when it arrives in the mail and immediately sit down and pay it! Hope this helps.

Aug 02, 2010
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Get Organized to Pay Bills
by: Tracy

Not paying your bills on time is costing you in various ways. You might be paying late fees. You might be ruining your credit score. You might be worried and stressed about your financial situation.

Getting organized will resolve all of these issues.

The first thing you need to do is make a list of every bill you have, the monthly payment amount and the due date. Create your list as a table, writing all of your bills down the left side of the page and creating one column for each month of the year across the top.

Next, create a designated home for incoming bills that are waiting to be paid. This can be as simple as placing a small plastic basket on your desk or hanging a mail holder on the wall just inside your front door.

The minute that receive a bill in the mail, place it in the designated home that you have decided on. Don't put it on the kitchen counter and think that you will move it later. Put it where it belongs immediately so it doesn't get lost in the shuffle.

Pick a time slot to sit down with your bills at least once per week. This should not take you any longer than one hour. Choose a time that works best for you, whether it be first thing every Saturday morning or every Monday evening. Whatever time fits into your schedule. Do not schedule anything else over your bill time. This has to be a priority.

Every week, during your scheduled bill time, sit down with the bills that have come in and look at each of them. Check to be sure that everything is as it should be on each statement. If there are any discrepancies call the company to resolve the issue immediately. Don't put it off for later.

Decide which bills you will pay during that session, pay them and check them off your list for that month. The following week, do the same thing.

You can find more information about creating a simple budget here...

http://www.tips-to-organize-life.com/makeabudget.html

If you want to get really serious, take control of your finances and change your life for the better, I recommend You Need a Budget (YNAB). You can find out more about YNAB and why I love it here...

http://www.tips-to-organize-life.com/budget-planning-software.html

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