Do you have an easy bill paying system... or does your mail lay in piles around the house? Are your bills sandwiched between Southern Living magazine and the Ballard Design catalog and lots of messy papers?
I HATE PAYING BILLS!
I don't have a mind for numbers and I think accounting is my own personal h__l!
But I'm not really into the idea of bill collectors calling me on the phone or knocking at my door...
So, I came up with an EASY system to pay all our bills. A system that is very clear cut and organized and doesn't take a lot of time...
I know that many of us have bills paid automatically these days or pay most of our bills online.
What a huge help!
But what about all those paper bills in our mailboxes that continue to come every day?
Don't keep piling them up...
Put all bills in a safe, organized place and then make an appointment with yourself to pay them!
Here's where I keep all of our bills...
In a spiral bound binder with pocket dividers.
You could use a loose leaf binder with pocket dividers, or regular old folders with a rubber band around them. It really doesn't matter. It's the system that does!
The first file pocket holds stamps, envelopes, and return address labels... as well as a check book.
The second file pocket holds all bills that I must act on NOW!
Like proposals, bills that you think might be wrong, etc. Deal with them daily... EVERYDAY!
The rest of the file pockets are labeled 1-7, 8-14, 15-21, 22-28 and 29-31... the number of days in the longest months of the year.
When a bill comes to StoneGable I file it in the appropriate pocket by the due date.
Let's say that my monthly car payment is due on the 13th of a certain month... the bill and envelope goes into the pocket labeled
8 ~ 14
Or my annual sorority payment is due on the 20th of a month... this bill along with the envelope goes in the pocket labeled
15~21
File the bill in the pocket that corresponds to the due date.
File the bill in the pocket that corresponds to the due date.
Do this EVERY DAY for EVERY BILL!
(What do you do with the rest of the mail, you ask? Great question. That was covered in a recent post...
If you do this EVERY DAY for EVERY BILL you will never misplace or lose another bill again!
My mailbox is at the end of our driveway. I sort all the mail in my car or garage and throw away all mail that isn't important before I take it in the house!
Open your mail the day it is delivered and put all bills in the bill paying system!
Now here come the really hard part!!!! You MUST schedule an appointment to pay your bills in a consistent manner!
You need to find a comfortable way to pay your bills according to the money coming into your home.
MAKE A DATE TO PAY YOUR BILLS... AND KEEP IT!
MAKE A DATE TO PAY YOUR BILLS... AND KEEP IT!
Here's how I do it.
I like to pay bills weekly. I set an hour aside once a week to deal with all upcoming bills!
I like to pay bills 10 days ahead of their due date, especially if I am mailing them.
Remember you are paying bills that are coming due!
So.... If it is the 15th of a month, I subtract 10 from 15 and get 5. Five falls in the 1~7 file pocket range. I pay all the bills in the 1~5 pocket on the 15th... online or by check!
These bills are all due on the next month between the 1st and the 7th.
If it is the 20th of a month, I subtract 10 from 20 and get 10. Ten falls into the 8~14 file pocket range so I pay all the bills in the 8~14 pocket... online or by check!
These are bills that are due on the next month between the 8th and the 14th.
Let's pretend it is the 3th of August. Then I need a calendar and count back 10 days. That would be the 24th. The twenty-fourth falls in the 22~28 pocket range.
I would pay all the bills in the 22-28 pocket... on line or by check!
These are bills that are due between August 22nd and August 28th!
It's really very very easy!
Remember to set up a bill payment schedule that works for you and be consistent!
I keep my easy and organized bill payment system in a mesh file holder along with my CLUTTER BUSTING FILES!
That is the whole CLUTTER FREE, EASY AND ORGANIZED PAPER AND BILL PAYING SYSTEM!!! All in one file holder!
A thing of beauty!!!!
I keep my easy and organized bill payment system in a mesh file holder along with my CLUTTER BUSTING FILES!
That is the whole CLUTTER FREE, EASY AND ORGANIZED PAPER AND BILL PAYING SYSTEM!!! All in one file holder!
A thing of beauty!!!!
NO MORE MESSY PILES OF BILLS
NO MORE LATE BILLS
NO MORE MISPLACED OR LOST BILLS
EASY TO USE SYSTEM
KEEP ORGANIZED
NO MORE LATE BILLS
NO MORE MISPLACED OR LOST BILLS
EASY TO USE SYSTEM
KEEP ORGANIZED
Isn't that EASY and so ORGANIZED! ...I know!
I hope you try this system!
I hope you try this system!
Pin this to your Pinterest Organization board for future reference!
A very wise plan. We do pay our bills on line but there are still those pesky things that come in the mail. And even though we pay are bills on line I still have to remember to do it. Your book would be a great reminder. Thanks for the ideas.
ReplyDeleteYour system is great. I love how you broke it down weekly. We use something similar - a binder with all the companies separated by tabs. All new bill due dates are highlighted and those invoices are attached to the front with a frog clip. I sit down every other Thursday (pay day) and pay the bills, then file them in their appropriate section of the binder. Every year we start a new binder. This has been my husband's method since he became a home owner and it works so well for us. Similar to yours, but different in that we keep the bills on file.
ReplyDeleteWe have a very similar system but I am having a mental block as to how you subtract days as you gave in your example...if on the 3rd we sit down to pay bills and want to pay them 10 days in advance...we would pay the bills that will be coming due on the 13th. We add 10 days not subtract. When we go thru our bills as they come in we mark on the envelope...the date that is 10 days prior to the due date...that is when we subtract 10 days from the due date just so we have a double check system that the bill IS getting paid ahead of time. I must be misunderstanding your example....sorry.
ReplyDeleteSorry this is confusing! I count back but really I am paying the bills for the upcoming month. Works for me... I think it is a case of semantics.
DeleteI have one more suggestion: when I used to pay the bills I would put the date I needed to mail them on the corner of the envelope that would be hidden by the stamp! Then they are in the file for the day to mail also!! We pay 99% of our bills online now but I used to have a file folder like this too. Great minds:):)
ReplyDeleteI do something similar, now if that binder would just come with a person to do the bill paying LOL Your binder is beautiful by the way.
ReplyDeleteI also pay bills weekly but I pay virtually everything online where I can specify the actual date the bill is to be sent by the bank. So I pay everything I have accumulated in one simple file labeled Bills To Pay. I immediately record the payment by actual pay date in my checkbook which is maintained on my computer with Quicken. I also reconcile my checkbook with my checking account while I'm online paying bills which is a breeze because I know the exact date items will be deducted from my account. This way I feel like my bill paying is always caught up, if I'm out of town for a week nothing gets behind. I only keep invoices or statements for accounts like the mortgage, car payments, credit cards, or anything that has any tax consequences. Everything else gets shredded including utility bills. I have never had a problem needing those in over 34 years of handling my family's finances. I really avoid writing checks these days for security reasons. With your bank routing number and account number anyone can have funds wired from your account so you need to be very careful who you give checks to.
ReplyDeleteTeresa
Yvonne, what a great system! This could be marketed and you would make a lot of money! Thank you for your generous spirit and sharing with us. Lucky us! Cheryl Ann
ReplyDeleteWE NO LONGER NEED envelopes, stamps, return address labels or a check book to pay our bills. Our credit union has a Bill Payment System, which we have set up with names and addresses of our regular monthly bills. (Most financial systems today offer this service.) All we need do is enter the amount we want to pay for each bill, click, and it is done. The system is secure and virtually error free. I pay bills only twice a month, using a recurring reminder in my Microsoft Outlook task list. I spend about 3 minutes a month paying our bills, a task that used to take a couple of hours! Every month I bless this wonderful, time-saving and hassle-free convenience!
ReplyDeleteMarjorie
We had this system years ago, but now at least 95% of all bills are paid automatically on line. Then all you need is a list reminding you when they are being taken out of your bank account. No stamps or envelopes needed and no worry about the mail getting then payment there late.
ReplyDeleteWhile I pay most of my bills online, I don't like automatic payments out of my bank account. I guess, I need more control and like seeing the transaction go through and not just assume it was paid. For several years I have kept a cheap spiral notebook that I started because I wanted one place to write down the confirmations numbers. Each month gets one page with columns: Date Due, Date Paid, Amount, Company, Confirmation or Check Numbers. I have never missed or paid late with this system. I also like being able to look back and see what I paid for something the previous year. Especially good for magazine renewals, since they send billings when the renewals aren't even due. I can keep the notebook by my favorite chair and see what's due at a glance. No need to have things taking up space on a desk and no filing afterwards.
ReplyDeleteI am confused about your system of how to determine which bills to pay 10 days before due date. If it is the 15th of this month and I pay the 1-7 file pocket range of next month, that will be two to three weeks ahead of due date. What am I missing?
ReplyDeleteYvonne, did you create your own binder? You must have made the cover sheet, but were you able to purchase the basic binder, or did you find the pocket sheets and bind it yourself? Thanks.
ReplyDeletethis is such a cute way to pay bills and exactly what I would do if I had to do it..luckily my hubs is a banker and it just comes natural for him so it's his thing...wonder if he'd go for cute?!
ReplyDeleteTHANK YOU SO MUCH!! I just love your organizing post! I am clean and tidy but I STRUGGLE so much with being organized! I know you asked recently about future post we would like to see and I think organizing would be my pick. I implemented you Christmas organizing post and it has been so wonderful and has made my holiday SO much nicer! I am going to be doing the pantry one soon but I think this bill one is going to be next! Thanks so much again! Sharon Geers :-D
ReplyDeleteI have a cute set of drawers that hold a regular size of paper. they are white and have bead board on the side. I put bills on the top right hand side of the drawer and the bill stubs in the bottom drawer. I should file all the stubs in certain folders but at the end of the year, I go through it and collect all the important info I need for taxes. It's not the best system but even my husband will put bills in it. I need to get better about looking at them once a week, instead of once a month though. I'm like you, I hate numbers!
ReplyDeleteI pay bills online and receive as many statements as possible online as well. Saves having more paper coming into my home!
ReplyDeleteVery good system for the ones you have to do personally - I have a few and have tried to get all the bills due all on the same date .... I would be to lazy to count 10 days. :)
ReplyDeleteWow, this is SO smart! My bills get piled up and disorganized so I could reeeeally use something like this!
ReplyDeleteBless you Yvonne. When I read about bills being tucked between magazines on my table , well (That is me.) I always pay well before they are due, but don't have a system. I will certainly take on board your bill paying tips.
ReplyDeleteHugs Kay
I pay bills by bank draft once a month I deduct all household bills in my checkbook register.Other bills like carpayment, credit card, ext I pay on phone ( not online) and put the confirmation number in the checkbook register under the payment.Easy for me this way.
ReplyDeleteHi, Could you direct me where you purchased your binder?
ReplyDeleteThanks very much!