Get Organized: Savvy Bill Organization
We're pretty sure there's no one who actually enjoys the process of paying bills, but sorry mama, it's a necessary evil. And seriously, one it's done it feels pretty darn good. That doesn't mean it should turn into an all-day event. Paying bills on time in no time is easier than you think. Here are 4 ways to get organized and create a bill organization system that's totally streamlined:
1. Pay bills online. Most banks offer online bill pay. If you haven't set yours up, it's definitely worth the extra time (about 35-45 minutes) to do it. Here's how it works: First, you'll have to round up all your monthly bills and statements. Then, you'll have to enter mailing and account information for them into the online bill system. Once you get organized, paying bills takes all of 5 minutes. You'll just go down the list each month and enter who gets what amounts when. Believe me when I say you won't miss stamp buying and check writing.
2. Set up automatic payments for regular bills. Especially for bills where the penalty is high for late payment—mortgage, insurance, credit cards. Just don't forget to make sure there's enough in your account to cover the bills.
3. Get organized by creating a bill organization center in your home. It could be a bin, basket, drawer or file folder. Stock it with everything you need for paying bills—like checks, envelopes, stamps, pens and a calculator—so you don't have to send out a search party every time you want to pay a bill. As far as bill organization is concerned, it's hard to keep up with filing, but if you keep a portable file box near your "station," it will be easier to keep up.
4. Simplify Tracking. Having trouble figuring out how much you're spending? Here's organization help: Consider using just one bank card for all cash purchases and one credit card for all large purchases. When the bills arrive, everything's recorded in one place, so you don't have to round up receipts or create your own spreadsheets. (Just be sure to pay your credit card balance in full each month to avoid accruing interest!) Check out your statements to see where you're spending your money and where you can cut back.