How Do You Organize Your Bills & Paperwork?

My mom is a professional organizer and papers is her specialty!
Check out her website

http://www.projectpartnerservices.com/

Good luck!
J.

1 mom found this helpful

I would recommend setting up auto pay or paying online as many as possible - but here's what I started doing:
I have an excel spreadsheet that is my checkbook "register" or running balance. But I don't enter things as I pay them - I schedule them ahead of time or budget them in. I know what bills i have to pay each month and approximately how much they will be. The first month or two, you just enter them in as they come and eventually you'll get the pattern and be able to copy and paste. Be sure to get all of your transactions in - this will also help you notice excessive spending! I then started highlighting the ones that I had to mail in one color and the ones that i had to pay online in another color. Once the bill is paid or mailed, I remove the color and once it posts to my checking account (which i monitor online too) then I higlight the balance column. It took a bit of work to get it organized at first but I now rely, and I've used it to take control of my finances!

If that seems like too much, at least make a chart of all of your regular bills and their due dates. that's a good start.

Good Luck!

I know what you mean. What I finally did was buy a notebook and some packages of dividers with pockets. I put the bills in their own pockets or punch holes in them to go in their own place. Then I put the insurance forms that come to tell what the insurance paid in with each doctors bill. I watch closely to make sure that we are being charged just our part of the bill since some like to charge the over scheduled discount (it is a discount that the doctors office agreed to forgive to be in contract with the insurance company.. which you shouldn't be charged for either). I also keep a running total on those that we make payments too... so I have a record of each payment made. It actually works good only if you are good about sitting down and doing it.. just like everything else.

I use a calendar. The desk sized ones that can hang on nails in the wall are easier to read, but any calendar will work. When I get a bill, I write what it is and how much on the date it is due. Example: Oct 1 - Rent $400
It helps to be able to see what is due all month at once. You can see what all is due before the next payday and if there is a bill coming up that you need to remember to save part of a previous paycheck for.
Do as many bills as possible online, then you can shred the statements that you don't need right away and put the rest all at one spot. If you just set them on a counter, you might want to put them in a larger ziploc bag until they are needed so they don't get knocked down and lost.

I use Microsoft Money to balance the checkbook, keep track of what bills are due when, etc. It is a lifesaver! I've been using it for probably 6-7 years, and I would never go without it. When I pay bills online, I write on the paper bill what day I actually did the work online and then what date it is set to be paid on. Once I've paid the bills, the papers go into an accordion file that's labeled by month. After 12 months, I shred all of the paperwork.

The key is to find a system that works for you personally. You can't force yourself to use something you don't like because eventually you'll just give it up. You'll also probably need to invest in some sort of filing system... you can get pretty cheap ones at an office supply store.

Hope that helps!

I have a bill foldeer I keep in my underwear drawer. when bills come in the mail, I open them, and then write the due date on the outside of the envelope so when I go to do the bills each paycheck I can do them by the date due. ONce I've paid them, on each invoice I write the number of the check, the amount, and the date they were written. I went and got an accordian style folder with tabs and then I put the finished invoices in their own sections of the folder. (or I try to...when I get around to it:-)

I used to have the same problem. I solved it by writing a check when the bill came then hanging them on fridge with a date for either paying or mailing so that I see them daily. Haven't missed a bill or been late since. Some bills are auto deducted from my bank account so once at the beginning of the month I put those into my register with the date they come out of my account. I also go on line a few times a week to check my bank account and see what has cleared and what is due on pay day so I know where I'm at. Now my filing that is a different story and sometimes adds up before I get things filed even though when I do I swear I won't get behind again, but within a few weeks it does seem to happen but at least bills are paid on time.

I know you've gotten a lot of great advice already, so thought I'd throw mine in there too. I pay almost all of my bills online so I don't have to worry about mailing it in time for the due date. As soon as I get a bill in the mail, I open it, and put it in the return envelope. On the outside of the envelope I put how much I owe and then in the corner of the envelope I put the due date. I then put it up in my cupboard. I check my cupboard EVERY day to see what bill is due that day, or which one is coming up. I also have a little notebook that I write down the bills in, so then when I check my bank acct and see it has been deducted, I scratch it off. I know a lot of people use Billpay, but I personally don't use that because if I have a bill that needs to be paid (phone, cable, garbage, etc,)but I won't have the $ until a day or so later, then I can pay it online a day or so later. I know it is still being paid a little late, but I don't get a late fee and I don't get in trouble like I would if Billpay would've paid it automatically. I've only had to do it a couple of times, but it worked for me. I then either shred the leftover paperwork or file it. May sound like a lot of work, but honestly it takes only a couple minutes each day.

I love Quicken. It's a software program that costs about $25-50, but so worth the money. You can download a trial program for free to find out if you like it. Because I use it to itemize my receipts and keep track of spending in each budget category, I have caught overcharges of a total of $45 in the last 6 months - totally worth the money!

Quicken can help you keep track of what you spend on daily, weekly, monthly, quarterly or annual basis in each budget category and overall, which means if you know if you're staying on budget. They have "bill pay" reminders that tell you what bills are coming up, when they are due, and averages the past costs so you can keep that in mind for the budget also. You can also download from your checking and savings accounts, credit card accounts and investment accounts and reconcile to what you have entered to make sure that all your money is accounted for.

As far as paper goes, I sign up for as much online billing as possible. It's better for the environment and keeps my office clean. I pay bills online, too, to save on stamps. Wells Fargo offered us an account with bill pay. I go online and program in advance to pay certain bills on certain days and they pull money from my checking account, print the check and mail it for me or pay online directly to the biller on the day I specified. The service is free with my account. Otherwise, I go directly to the biller's website and pay online. For the stuff I still receive in paper, I have a file area and one folder for each category - auto, banking, utilities, etc. After I have done taxes for the previous year, I shred or burn all documents to prevent identity theft.

Part of getting on top of it is setting aside a time - ideally each day - but minimally a couple times a week to check your finances. Enter deposits, receipts and payments, check when bills are due, reconcile your bank and credit card statements with what you entered. I schedule it into my day like I do taking a shower or brushing my teeth. Things that are a priority get scheduled and get done. I choose to do finances when my little children are napping and my big ones are at school so I don't get interrupted.

Best of luck,
S.

You've gotten some great ideas here. We too pay most of our bills online and use Microsoft Money to keep organized and up-to-date on our various accounts. Good luck! This took us a few years to find a good system for our family. I hope it happens quickly for you.

I have found that quicken is a good tool to use. I have my checking account, credit account, mortgage and loans all loaded in this software. I can then use the calendar to track upcoming monthly bills, schedule automatic payments like the house payment, electric bill, and car payments because I know those are due each month. Quicken sends me a reminder that these bills are close to being due and I am able to pay them online. I am also able to download statements and other bank documents directly to quicken so i know when a charge or deposit is posted and what payments have cleared the bank. To help with the mounting paper I have requested electronic statements be emailed to me and I have a folder in my email where I keep these statements then I also keep the confirmation of payment in case there was ever an issue.

I have everything paid electronically that possibly can be paid electronically, and paychecks deposited electronically. I want as little paper as possible to manage! I can view my accounts as often as I want online to check on balances, etc. I have a desk that any paper does go to.

Like others here, I set up to have as many bills as possible paid by automatic draft from my bank account or, in just a couple of cases, charged to a credit card (credit cards can also be set to auto-pay, either balance in full or minimum payment). For the very few bills that cannot be set to auto-pay, years ago I found this WONDERFUL wall organizer. It's made of heavy, clear vinyl and has 31 numbered pockets with a couple of extra, unmarked ones. Down one side is a row of shallower pockets labeled with the days of the week. Down the other side is another row of shallower pockets labeled for the months of the year. The organizer has grommets up top and I have it hanging on simple push pins up on the wall in my laundry room/back door entrance where I will see it every single time I go in/out of the house.

Each item/bill that needs tending gets put into the pocket for the day of the month I need to send its payment, usually one week before the due date (to allow for potential mail delays).

I found this great organizer years ago in the Solutions catalog. I keep checking to see if they're carrying it again, but so far I haven't spotted it. They have an online store, too:
www.solutions.com

When I was most on top of it I had three bins by the front door. When I brought the mail in anything that wasn't a bill or magazine went into one of the three. Recycle, Shred or Garbage. Then you know whatever you have left is important. I also used my outlook calendar for bills that were due the same day every month. You can set an appointment with a reminder, and have it reoccur each month on the same day. Auto pay and online bill paying can also be really helpful but only if you are sure you will always have the money in your account. Credit Unions are a great resource for people with money, bill and budget issues. I would suggest getting in contact with one in your area.

Hi B.
I have envelope organizier that sits on top of my computer because that is where I pay bills so when bills come in they immediatly go there and every other week when my husband gets paid i sit down and figure out what bills are do before next pay period and pay them. for all the other mis. paper i have stackable rack on my computer desk that gets those papers put in the right catagory and then about once amonth I go thru and clean them out the ones that still need to be kept go in a filing cabnit and the rest get shredded. Good luck I hope this made sense.

I have a hanging corkboard that has slots next to it. I put my bills right in their when I get them. I than have a calendar next to that (I work from home, so it helps me keep track of the days...lol). I than have a thing I typed up for my monthly bill dates. I can see 6 months at a time. I list the bills I have and than when they are due each month. You just have to make sure you keep track because sometimes the dates change, but this isn't a problem for me, as I pay them all online (except trash), so I don't mail them, which gives me more time.

Again, I list the months on the top of the chart and than down the left side I list ALL the bills I have. Than to the right of that I would what day of the month they are due. I cross them off as I pay them. This is nice because I can see when I need more money for a month because car insurance is due...

I than file the bills in my filing cabinet (when I get a chance, before that they all sit in a pile....lol)

B.,

I truly believe the key to being organized and not driving yourself crazy is as simple as the age of the rule: Don't put down the piece of paper until you are finished with it! As soon as you get the bill, pay it. (I pay my bills online, so I set the date in which they take it out of my account, but when I paid all of my bills via checks and sent them through snail mail, I immediately put a date on the outside of the envelope that I was to send it out.)

Follow the rule with everything: coupons, notes from teachers, bills, whatever. It has made my life much easier...and I never miss a payment, turn in a form late, etc.

Good luck!
J. L.

B. - this is one of those areas that can be really time consuming. I think I finally have found a way to make it easy for me.

First off, I use bill pay on line thru my bank. As the bills start coming in for the month, I place all of them in a file folder to be paid the following month. I sit down only once a month to pay bills. I open, sort, pay on line, file and shred what I don't need and it usually is done in fairly short order. I can pick the date the bill is due and everything happens automatically. It's truly a time saver. It also saves on postage!

I use quicken to track all my checks and bills so I often balance my checking account at the same time.

I believe we need to take care of our money if we want our money to take care of us. Good luck,

Set everything up to get paid automatically online.
Use mint.com to track all finances. It's free and SO much more user friendly than Quicken.

Hi B.,

I have a bill notebook/folder. As soon as a bill comes in I write it down for that month in numerical order. I write in who/where the bill is from, the amount owed, and the date it's due.

Once I pay a bill I highlight it. So when I look things over, I know what's paid and what needs to be paid. All my bills go in this folder and no place else. So I can always find them. I pay most of my bills online so I toss em once paid.

I keep a budget book and the bills are slipped inside. I enter each check and date for the month and subtract the bills to be paid from that check, stating the date to be mailed out and the name of the company to whom the check goes. I also keep a file with file folders showing all the names such as gas, electric, car insurance, home insurance, telephone, etc. It makes it a lot easier to pay on time and also to know where all the money is going for each pay period. Good luck.

Forget hard-copies and pay as many bills as possible electronically with automatic funds transfers from your bank account. Most utility companies can be contacted directly and you can set up such accounts with a phone call or going to their website. Those you can not do this with, you can set up a "bill pay" schedule through your bank to have certain bills automatically paid monthly.

Any bills you can not pay automatically, you can keep in a accordian file folder with dated tabs, so you can check daily or weekly to see which bills need to be paid next. As soon as the bills arrive in the mail, file them in the folder.

This cuts down on clutter or having to worry about paying on time because funds are automatically taken from your account on scheduled days (so no surprises) each month.

This is an excellent way to go if you're trying to rebuild your credit as well as for creating a household budget. It forces you to stick to your budget, and you get better at managing non-essential or impulse spending if that's a concern. Creditors notice and look for those regular patterns.

If you've been undisciplined in the past, or living pay check to paycheck, this can be a real challenging transition, but if you can get through the first few months, you will find that you can live on much less money than you thought and you learn how to budget better.

Another helpful tactic is to invest in a budgeting computer program like Quicken;

http://quicken.intuit.com/lp/qkn09/lp_ppc_dt_only.jsp?cid...

http://quicken.intuit.com/personal-finance-software/free-...

There are many similar programs online as well. Some banks offer services like this as well.

It's a little extra work in that you have to enter all of your expenses, bills, and household income regularly, but the benefit is you can see everything you owe, what's in savings, and what you have left to spend in one convenient place.

I have a large desk calendar that I use to log my bills and when they are due on. In the notes box I list all the bills due that month, and then I write how much or whatever is important to know in the appropriate day blocks. I have gone paperless with most of my bills, and use online access to pay them, which leads to less overwhelming paperwork.