How to Organize Bills

Video Transcript

"Hi my name is Bill Rae. I'm with Alumni Financial Services out of Seminole, Florida. I've been in the business in the finance world for well over 30 years and have assisted many businesses and individuals setup their budgets or get their budgets back in line. Why do I mention budget? Because obviously if you're looking to organize your bills, then obviously you're going to want to setup a budget if you haven't already done it. Organizing bills can be a very simple process quite frankly. I know in today's high tech everybody wants to go to the computer and have all these programs and there's many programs out there you can buy, some very inexpensive, some very very expensive. But if you're just starting out, you can go back to the old fashioned way of simply envelopes. I know this is going to take some creativity on your part, you might have to get used to a pen or a pencil. The only difference being only a pen you click or turn, a pencil you have to sharpen. Kidding aside. If you're trying to organize your bills, first of all you have to know what you're spending your money on. So once you get an idea or if you haven't done it, take a month, record every single thing you spend on and once you have an idea of what you're spending on such as electric bill for instance, it can be as simple as a white envelope, electric and put cash into the envelope. Or a money order or your check. And when it's time, you can pull it out and pay it or if it's a check pull it out and mail it. That's a simple way of doing it. Once you do that, you can even get more sophisticated by getting a simple little folder like this where you can actually put every expense and every bill you have right in here and once a month sit down to review and pay your bills. And then you can move up to the big boys. Little humor, but the point is in order to organize your bills, all you simply have to do is sit down and write them down on a pad, figure out who you owe money to, and more importantly you also have to figure out what income is coming in to pay those bills, doesn't have to be that hard. My name is Bill Rae, I'm with Alumni Financial Services, as always we're here to help you build true wealth."