Take time now to create an effective bill organizer and avoid the frustration of bill paying month after month. It's simple and won't take you more than five minutes!
Next month it's not going to be like this! Next month I'm going to organize my bills! Does this sound all too familiar?
Each month when it comes time to pay the bills, you are either in a frenzy looking for needed information to pay bills, or you are stress free using an organized bill payment system.
If you using a system to organize your bills, you are likely not only less stressed each month about your personal finances, but are also saving money.
Learning how to organize bills is an important step to take when building a solid financial future.
When your bills are unorganized, you are increasing the likelihood that you will incur late payments, that you will simply forget to pay important bills or that you will miss important financial opportunities. Unorganized bills can also lead to increased stress levels and stress can negatively influence personal relationships, decision making and even your health.
There are two primary methods or bill organization; manual and systemization. There are benefits and disadvantages of both methods for how to organize bills. While you can certainly develop a manual system to collect, pay and track your bills, most individuals find tremendous advantages with a bill organizer system.
In fact, there are several popular software programs, including Quicken bill pay, that enable you to organize monthly payments on your computer.
Quicken bill pay can help you establish automatic bill payments, reminders of when bills are due and reports containing important information. You simply enter into the program your household budget information, the due dates of recurring bills and then you link your selected bank account. As bills become due, they are automatically paid through the online system or you can pay with a personal check and record the transaction into the ledger system. Every month or on an ongoing basis, you can review the information within the program to establish budget trends within your household.
If you choose to organize your bills manually, create a designated space within your home to collect bills as they come through the mail each month. You can use an in box system or a mail organizer with dividers to file mail as it arrives. Schedule time each month or every two weeks to sit down and pay bills. Pay each bill either online or by mailing in a check and then record the transaction into your bank ledger.
While this type of system to organize bills may be more hands on work than a Quicken bill pay program, it can be just as effective over the long term.
Organizing your bills using Quicken bill pay or another type of bill organizer system will reduce the incidence of late fees, will ensure that your household bills are paid and will provide important reports for review of your spending habits.
Just remember, the important thing is to create a system that will help you to pay bills on time each month and that allows you to feel more confident financially as well as to help you avoid any unnecessary late fees.
Get help with your bills, take the time to develop a bill organizer system that works for you and enjoy less stressful bill paying!