If I had to go back to paying bills by check, I would set up a folder for each month, pay the bill they day I received it, and write the date and number of the check on the bill, File the bill away. I would be very consistent with this method. I would have one place to sit down and open mail and pay bills and have plenty of stamps on hand. I have seen advice to not put bill payments in the mailbox and leave them there overnight so I would take payments out to the mailbox during morning hours.
I know there are other ways but I don't like to have to keep an inventory in my mind, would rather just "git 'er done"
Hi Sarah,
I bought a dry erase calendar board at Wal-mart. I pay all my bills online so as I get my statements I write down the amount due on the date that it's due....that way I know what needs to get paid that week...I try to pay $200 a wk worth of bills and so some weeks it's more than others... so on the weeks that I have less than $200 due I pay any other bill that fall on the week my mortgage & car payments are due...basicly what I try to do is that on the week that the mortgage & car payments are due...I try to have just those payments and nothing else...when you pay online there are some stores that allow you to schedule your payment to be paid on the due date and some require you to pay one day before the due date...so on a notebook I have a list of all my bills with notes which payments can be scheduled, which have to be mailed and which you can pay on that day or the day before...the ones that are same day...for example lets say the CPS bill is due on the 15th, you go online on the 3rd and schedule your payment to be made on the 15th OR you can get online on the 15th and make the payment as long as it's before 3 pm any payments after 3pm post on the 16th and you will have to pay the late fee...another example is Victoria Secret they have only two options you can either pay it the next day or same day but you have to pay $200 fee....so lets say it's due on the 15th I have to pay it on the 14th so that the payment can be posted the next 15th and if you forget to schedule it the day before your best bet is to go to the store and make the payment there before the cut off time...I know this is a little confusing but once you start doing it regularly you will get used to it...as i make the payments or if I schedule all my payment ahead of time I check them off so I can know which ones have been paid for and then I check my bank statements to see which have been paid for and I start erasing them as they clear......if you have any further questions email me at [email protected] hope I helped you a little.
I almost forgot and if you choose to pay them by mail then you have to make sure you send them off ahead of time so they will recieve your payment before the due date so you won't be charged the late fee.
When the bills come in the mail...I open them and put a date of when they need to be paid on the outside. Usually seven days in advance. Then just put the bills in order by date due in front of our computer. My husband checks the stack and pays what needs to be paid online.
I keep a spreadsheet of all of the bills and when they are due. I have them organized by when hubby gets paid. I sit down and figure out what will be due out of each paycheck ahead of time and pay those on payday. Then, any other bills that aren't on the regular schedule (such as doctor bills or anything else unexpected) gets paid then also. Hubby gets paid every 2 weeks, so I pay bills every two weeks. I mark them paid on my spreadsheet by changing the color of the cell when I have done it so that I know what has been paid and what hasn't. I just keep all of the bills in one spot as they come in so that I know what has to be paid when his check goes into the bank.
We also do a budget at the beginning of every month. We did Dave Ramsey's Financial Peace University and it has helped a ton. We identify where all of the money will be spent at the beginning of the month and then stick to the budget. That helps to track when things are due as well (although I started my spreadsheet before we started doing this and I have kept it just for my own ease of use). Hope this helps! I recommend looking into Dave Ramsey's book or course if you're looking to help manage your finances. We're strong believers in what he has to say. A lot of it is just common sense that we lose sight of when we're in the midst of just living life!
Most important keep the bills that need to be paid in one place. I have a 28 month calendar/planner that fits in my purse, $2.99 at walmart. When a bill comes in I check the due date & amount and put it on the calendar. I also have the paydays marked, when kids will need lunch money, upcoming dr appointments, etc. I just flip it open each week or so and check what is coming up (don't have to dig through the bills). You can receive online notices that your bill is ready & when it is due, without having to pay online. It keeps me organized and on time. Best of Luck!!
Keeping your self organized is one of the most important aspects of paying your bills, you can miss an important date if you are not organized well. Though I use an automated bill pay http://www.avidxchange.com/page/bill-pay service that checks my bills for any errors, duplicate charges etc before paying them and I can get digital copies of what is paid, so less clutter and would recommend that you use that as well. But if you do want to start manually, here are some tips.
1) Keep the bill with the the latest due date first.
2) Make a default drawer to keep your bills and keep all your bills there.
3) Mark the dates of the dues date on a calender