It's takes a bit of planning to create the best routine for managing monthly bills and one-time bills. The fact is that without an organized system, it's easy to fall into bad habits where organizing your bills is concerned. If you manage your bills with computer software, you'll still need to organize invoices for your purchases or bills from your utilities, etc. if they are not already paid online. Bill management software often allows you to print off a report of your unpaid bills after they have been posted to your system. These reports will tell you when the due date for payment occurs so you can track when it's time to print your checks to pay bills. So, your system, if you use computer software, should be:
- Post your bills to your software.
- Print a report of your unpaid bills twice a month.
- Choose a pay date for paying your bills.
Organizing Bills Without Computer Assistance
If you receive hard copies of your bills via the mail, you'll still need a way to keep your bills organized. To know how to keep bills organized manually, first invest in a small date stamp. When a bill arrives in the mail, date stamp it so you know when it was received. The reason for date stamping is so you can judge the pay date of each bill. Most companies from whom we receive bills use Net 30 terms of payment, meaning you have 30 days to pay your bill before a late charge is incurred. Check your utility bills. Those usually have Net 10 terms of payment. So, you have only 10 days to pay the bill. Hence, the importance of date stamps.
Bill Organization Tips
It's a very simple matter to keep your bills organized manually. But, it takes a bit of effort to achieve. Here are some tips to follow:
- Date stamp all incoming bills.
- Arrange hard copies of bills in a small, desktop organizer in descending order, from most recently received to those received at earlier dates. Or, these can be kept in a file cabinet separated by file indexes that have a numerical order for one month (1-31).
- Pull all bills with the earliest pay dates and prepare them for payment.
- Use a "paid" stamp to mark bills that have been paid and file them in another section of your desktop organizer or file cabinet.
Routines Become Habits
Setting up a regular routine to keep your bills organized is important. Once the routine is in place, it becomes a lifelong habit that grows more familiar as time passes. It's never too late to learn how to keep your bills organized. The benefits of putting forth the effort is worth it.