How to Organize Bills
There is no better way to keep on track with the bills then to have a system of organizing them. You will know where they are, when they need to be paid and how to find them if there is ever a discrepancy. The following will help you get a start on organizing finances in your life.
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Things You'll Need
- Large box for filing
- Monthly planner for the current year
- Pen
- Folders
- Shredder
Instructions
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1
Buy a monthly planner for the current year. It is smart to write down all of the due dates and compare these to your pay dates each month.
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2
Decide when each recurring bill needs to be paid.
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3
Keep the bills that need to be paid in the planner. Place them in sequential order, by payment due date, most recent ones due first.
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4
Review bill for accuracy. Remove excess paperwork that comes with a bill and shred anything that has your name or account information on it that you want to throw away and do not plan to file.
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5
Designate one to four times a month to pay and organize the bills.
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6
Prepare a folder for each recurring bill and a folder each month for miscellaneous bills. Include the bill's name and due date on the folder.
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Write down on the invoice the check number, date paid and the amount paid before filing it.
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File your paid invoices into their folders. Put them in sequential order as well.
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Keep the cancelled checks in a folder along with the bank statements. Write the dates on top of the folder.
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10
Create a monthly folder for receipts.
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Store the folders in a large box marked with the year's date. Start a new folder system every year.
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Tips & Warnings
Keep lots of notes. This will help in the event of future discrepancies.
Keep up with this organization on a weekly basis. Trying to get organized after many months is tedious and difficult.
