The DOs and DON’Ts of Organizing Your Bills

August 5, 2013 Category: Blog

Have you taken the time to reorganize your bills lately?  Coming up with the most efficient way to confront monthly bills can be a hassle. Many of us are guilty of making common mistakes on the best way to deal with the overload.  Here are some simple suggestions to make the bill paying task a manageable one.

Don’t organize your bills based on type; electricity bill in one folder, cable in another, mobile in the other, etc.

Do organize by date.  Keep the recent and pending bills in one easily accessible place until they are all paid off for the month.  Then you can easily bundle them up and slip them away based on month and year.

Don’t spend the whole month worrying when to tend to your bills.

Do pay attention to when your bills arrive.  Allocate certain days out of each month to take care of them.  We recommend you designate particular days, about a week apart in the middle of the month, when you review and pay off what you have pending.

Don’t leave your bills scattered between your go-to places.

Do designate a single place to confront bill-paying.  It’s easy to scatter them between your different workplaces at home and sometimes they get lost in between. Keep a basket or drawer where you can toss them until it’s time.

Don’t let your bills get the best of you.

Do record your paid bills right after you’ve paid them.  There’s never a reason to waste time, money, or energy on uncertainties or overdraft fees. Keep a log of amounts paid on particular dates and record a confirmation when possible.

Don’t keep too many active credit cards.

Do condense down to a few credit cards that provide the most benefits.  The more you have, the more you add to your bill-paying process. Plus, you should be avoiding any unnecessary fees when possible.

Don’t always stick to your usual habits.

Do a little research and take advantage of technology that takes care of your bill concerns for you.  Some of these are even free!  Selecting a money management software that works best for you will end up saving you both time and money.

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