Organized People… Don’t Pay Late Fees! 4 Tips to Organize Your Bill Paying

Organizing Your Bill Paying Process ensures successful and consistent Bill Paying!  Try these 4 tips to Streamline Your Process!

Set An Appointment.  

Client Study:  A client I first met many years ago admitted that deadlines and due dates would often slip past her and her husband, costing lots of money in late fees, not to mention frustration! She did not have a set time to regularly sit down and pay her bills, so as life got busy, they would both forget to pay bills.

Tip: Set aside time every week or every other week to pay your bills.  For example, if you get paid every other Friday, make an appointment with your computer / check book for every other Thursday evening to pay your bills and manage your money.  If it’s on the calendar, it’s more likely to happen!

 

Do the Job Until It’s Done.   

Client Study:  I worked with a couple, and I could tell that the husband was very nervous about having an organizer in the house! He was very happy when I told him I wanted him to spend LESS time on his papers every week!

Here is the rest of that statement: “Carve out an hour every week (they chose Saturday morning) to open all the mail, pay all the bills, respond to any other correspondence and shred / recycle whatever needed to go.”  They agreed an hour should be enough. They could worry less throughout the week, but they had to tackle all their money management tasks, start to finish, when they DID work on their bills.

Tip: Spend less time on your bill paying, but complete the job from start to finish when you sit down.

 

Dedicate Space for Paying Bills.

Client Study: I worked with a lovely couple just last week.  They took turns explaining how they used their shared work space.  One person had a place to always tuck the bills to be paid. The other person had no idea that was the system in place!

Just that one piece of information, a dedicated place to put the Bills-To-Pay, made a huge difference in how each uses the space!

If you pay bills on line, consider creating an email subfolder or maybe even an email account just for bill-paying and financial information, and make sure everyone who needs to know about it has access!

In addition, set yourself up to succeed with your necessary supplies in that space (pens, notepad, post its, computer if you pay on-line, envelopes and stamps, etc.).

Tip: Dedicate Space for bill-paying, and let all involved parties know the plan!

 

Make  Filing Easier, Too!

Client Study: Me.  For both our personal and my business bill paying, we have done away with individual vendor files and just have monthly folders for all income and banking info.  Any paid bills, receipts, bank statements, etc., get added to those monthly files.  Finding info is so easy, as is filing!

Tip: Create Monthly Folders for all things Income / Banking related and make filing easy!  And if you like this idea, apply it to your on-line bill paying as well!  Same idea around your directories on your computer or google drive!

Pick a Tip, and Give it a Try!
To:

Receive more ideas and suggestions like these;
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Please contact me.

Call / text 708.790.1940
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