Get Organized in Paying Your Bills

 

Nobody fancies paying the bills, but somebody has to do it! Try to turn this into something that could be easier for you to do. What you need is an organized system. Forgetting one or two small bills is very easy. Before you know it, the penalties and late fees will add up, and then you’ll be in a real pickle! Your financial standing will also be put at serious risk if late payments become too much to handle. This will affect your ability to apply for loans and other types of financing. We’re going to offer you a step-by-step guide that will help get your bills paid in a more organized manner. All you’ll need is some basic office supplies, such as a paper shredder, a highlighter, some pens, notebooks, envelopes, and stamps. Your computer and some drawers (plastic or cardboard) should come in handy! Let’s take a dive.

Find the Right Location

Just like having a home office is good for being the right place to work, you will also need a good place to focus on paying your bills. Try to have one consistent location where you can sit comfortably. Some people like to do their bills on the kitchen table, some like the living room, and some like the bedroom.

Keeping Paper Bills Organized

Though many companies are now sending paperless bills, you may still get paper bills which is why it is important to stay organized. When a paper bill arrives, don’t hesitate to open it. On every envelope you receive, be sure to write down the payment deadline and the amount that is due. It’s important to take note of every single due date because they do sometimes change. It’s not necessarily the same day every month.

While going through the paper bill, highlight anything that you may not understand or may cause you concern. Put all your unpaid paper bills in a separate drawer that is labeled. Shred any unimportant documents that might have your personal information.

Keeping Electronic Statements and Bills Organized 

The best thing you can do is create a separate email account for all financial matters, including bank statements, bills, and other issues. This is important so that you don’t confuse your bills with all the other email junk that’s in there.

It’s important to be attentive in reading all online bills and statements as soon as they arrive in your Inbox. Once you’ve made sure everything is correct, then confirm that you agree to be punctual in paying everything that’s due. However, if you find something that you’re not sure about, then print it out and put it in the same file as other unpaid paper bills. If you can’t print, then make a written note of it in your notebook, so you can ask for clarification later.

It’s also important to create an email file folder on your computer so that you can keep a record of everything. Ensure that the system that you set up is easy to follow so that you don’t have to spend too much time looking for the electronic bills that you need to find. Take note that this is also important if you are self-employed and work at home. You will need your bills to be organized and filed so that you can negotiate tax deductions.

Create A Weekly “Bill-Paying” Day

Whether you want to consider it a holiday or a day of misery, commit 30 minutes on one day every week to pay your bills. Make sure you mark it on your weekly schedule or calendar.

Take out all electronic and paper bills and just start paying them. Be sure to write down the bill that has been paid, make note of the amount, and the date of payment. For anything that you might have highlighted on the paper bills, contact the companies to ask about any charges that don’t make sense. If they don’t answer, be sure to follow up with them.

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