As you grow older, you will accumulate what seems like a mountain of bills every month. Utilities, credit cards, rent, and car payments are just a few of the bills that come flooding in. It can be difficult juggling all the due dates and amounts, and you have to make sure they’re all paid on time. Fortunately, there are ways to stay organized without hassle. Here are 10 tips for keeping on top of your bills.
- Use automatic bill pay.
Whether you’re going through your bank or through the merchant, you can use automatic bill pay so you’re never late. With automatic bill pay, the amount of the bill is drafted from your account by the due date without you having to go through the steps to authorize the payment. This option is particularly useful for forgetful people. - Use spreadsheets.
If you’re a spreadsheet pro, create one for your bills. List the bills you haven’t yet paid, then note the date you pay them. With Google Docs or Microsoft Excel, you can use color coding and even set the spreadsheet up to calculate the totals for the month. - Set phone alarms.
One of the best ways to remember to pay bills is using a phone alarm. It’s easy to set up, especially when you use your phone calendar. Simply input the bill and tell your phone to notify you as early as one hour before. You can also have your phone remind you a week or days before. - Download mobile apps.
It can be hard to remember to pay your bills, but there are several apps that remind you what you need to pay and when. Also, they will often keep track of how much money you have as you spend it. One of the better apps is Mint Bills & Money. You can find it for free on both iTunes and Google Play. - Create a bill folder.
You should create a designated area to put bills as they come in. Having a central location for bills will allow you to easily browse what you have to pay. You can use a file folder, accordion file, or a basket. After you’ve paid a bill, you can either get rid of it or store it in another area with the date and amount written for easy record-keeping. Not only will this system help keep you organized, you will never lose another bill. - Set memorable payment dates.
One of the best things to do is schedule the day you pay bills on a memorable date. The first, third, and fifth are popular dates because they are the first days of the month. They are also days that many other payments are due. Or plan to pay your bills on payday, so you’ll never forget to pay a bill. - Use your calendar.
Physical calendars have been useful for hundreds of years. They help you keep track of events, so why not use them for your bills? When you get a bill, put the due date and amount on your calendar. That way, when you check your calendar for an event, you’ll see when the bill is due. You’ll be reminded frequently, which will prompt you to pay it on time. - Set up email reminders.
Many billing companies allow you to set up email reminders. A week or so before the bill is due, most companies will email you a reminder with the date and amount due. Many times, the email will also provide a link to the site where you can pay it online. - Pay something each week.
One of the best tips I received when I moved into adulthood was to set up a weekly bill-paying day if you get paid each week. If you get paid every two weeks, then plan to pay bills every other week. Using this system will help you get into the habit of paying some bills on the day you get paid, whether weekly or bi-weekly. It will also make bill-paying less overwhelming by spreading the expenses out over the month. - Prepay bills if you can.
If you have the money before a bill is due, you can often prepay. Prepaying is useful when you know the exact amount the bill will be, such as with levelized billing or house payments. You can pay several months in advance and not have to worry about paying that bill for awhile. Prepaying will show up on your account as a credit until you’ve reached the end of the prepaid period.
