Ok, I admit it. I am not a wise spender. If my bills don’t get paid on payday, I will spend the money on something else. Money literally burns a hole in my Miche Bag!! I had to figure out a way to make sure my bills were not only paid, but paid on time. Just getting my bills in the mail was not enough.
Before I get into how to organize your bills, I have to tell you that you have to sit down every month and balance that checkbook. It does you no good to pay the bills if you don’t have enough money in your account to cover the checks you write. Paying those hefty NSF charges will only cause you more stress! If you don’t know how to balance your checkbook, get with your bank right away!
Ok, that being said. How do you organize your bills? First of all, you need to find a safe place to keep the bills that you receive through the mail such as a folder or a mail holder. Don’t just throw the bills in there as soon as you get it though. Be sure to open the envelope immediately and check the due date and the minimum amount due. Not all due dates fall on the same day of the month, and if your minimum balance is higher then normal, you will need adequate time to find out why. Most people these days are going to paperless bills. Check your email or the websites often to get the due date and amount due.
The next thing that I do is to enter my bills in an Excel spreadsheet. In my house, we have three paydays. I have columns set up with the amount of our paychecks and paydays. Then I have each bill set to be paid according to their due dates. I have a formula inserted so that I do not spend more money that I have. After I pay each bill, and the check is in the mail, I mark it with a red “X”. This way, there is no question whether or not I paid it.
I had my moments where I was in a lot of financial trouble because of my spending habits. With a little planning and self control, I no longer have this problem. You can do it too!
Corrie Petersen runs a successful Virtual Assistant business. She enjoys helping her clients organize their business through outsourcing. If you’re ready to get your business organized, click here to visit her site.