How to Develop a Bill Paying Strategy

Many people struggle with keeping track of their bills and knowing whether they have been paid or not. After a while, they can get so disorganized that it's hard to even make the payments on time. What they need is a strategy to follow. Read on for some simple steps to develop that strategy.

Things You'll Need

• A filing system
• Calendar or daily planner

Instructions

1. Make a list. List exactly what bills you pay each month and how much each payment is.

2. Gather together all the bills paid in the previous three months. If they have not been marked as paid, do so now.

3. Create a separate file for each bill you pay every month. One for cell phone bills, one for car payments, one for credit card bills and so on. File three months of previous bills into their corresponding file.

4. Mark on a calendar or daily planner when each payment is due and how much is due. Do this until you have the rest of the calendar year covered.

5. Pay bills as soon as they arrive in the mail. As they are paid, be sure to cross them off of your calendar or daily planner so that you can keep better track of what has been paid.

6. Mark on each bill's envelope when the bill was due and how much was due. Also mark down when it was paid and how much was paid. File it away.

References

• daveramsey.com: Home
• The Digerati Life: Bill Paying Strategies To Help Find Your Spending Balance