We know how keeping track and paying bills can be overwhelming most of the time, if not all the time. It’s a good thing there are various methods to organise monthly bills.
These options make it easy for you to find a solution that addresses the root of disorganisation. For instance, which method is best for remembering bills that come at different times?
What is the best way to manage bills with different due dates? How can I organise the bills I get by mail and online? And what is the ideal method for households where bill payment is a shared responsibility?
Here are a few solutions you can try.
Create a Written Chart or Printable Checklist
It’s hard to organise monthly bills when you don’t write (or type) anything down. You are more likely to forget a due date when you depend on memory alone.
Solve this issue by putting your financial obligations on paper or the computer. For example, you can create a basic spreadsheet with columns for bill name, due date and amount.
You can also list online payment login details, account numbers and contact info if you find these essential.
Be as simple or detailed as you like. But, if you’re not fond of using the computer, you can create the same table on a whiteboard. Then hang it in an area where you can easily see it.
These techniques work since writing or typing things down helps you remember crucial details, like bills to pay.
Make a Bill Binder or Journal
This one is somewhat similar to your bill chart or checklist. But it is more calendar type, where you organise monthly bills by plotting them into dates.
You can try this method using a traditional journal, pen and highlighters. Or use a digital calendar on your computer or smartphone. With this option, you’ll get alerts or notifications to keep you on track with your bill payments.
Set Up a Bills Payment Station at Home
Sometimes, people find it better to have one place for everything, which, in this case, everything bills related. After all, bills can end up on the table, in the drawer – practically anywhere.
A dedicated space can help you organise monthly bills and not overlook (or misplace) anything. Your billing station can be a small table on the corner or even one of the backs of your kitchen cabinet.
Ideally, if you are getting bills by mail and online, have your station next to a computer or your work desk at home.
Equip your payment centre with boxes or folders to corral bank statements, receipts and other similar documents. You can also create a file folder on your desktop to save relevant emails for online bills. Label and arrange your folders by month to make things easier to track.
Try the Envelope Billing System
I’ve previously explained how the cash envelope system can help you make and stick to your budget. If you find this technique easy and helpful, you can also do the same for your monthly bills.
And you can label your billing envelopes in various ways, depending on which works best for you. Here are some examples:
- Label them according to weekly due dates. Have envelopes (or folders) for weeks 1 to 4. Slip the bills into the designated compartment. Then check the envelope at the start of each week to pay all the billing statements inside in one go.
- Label them according to bill type. You can have individual envelopes for utilities, car, rent and credit card.
- Label them by month. This method is best if your billing due dates are not that far apart, and you can settle them all at the same time.
Ideally, have a separate folder for all paid bills, so you can empty the envelopes after payment and reuse them every month.
Use a Budgeting App to Organise Monthly Bills
For the tech-savvy, this bill organising method is perhaps the most appealing. With things now fast-paced and digital, only a few are keen to organise using a pen and paper.
Downloading a budgeting app is then a better option for many. It’s also the perfect choice if you spend more time on your phone or are always on the go.
Keep in mind that these apps have varying features. Some allow you to connect online billing services to your bank. Others offer a digital version of old bill organising methods like the envelope system.
So, check the budgeting apps available and assess their features to see which one is best for you.
More Tips to Organise Monthly Bills
To make your chosen technique more effective, here are some more tips you can apply to avoid late payments:
- Choose to go paperless. Receiving bills through different channels can be confusing, making organising difficult. So, if possible, sign up for paperless billing. Electronic billing is eco-friendly, too.
- Arrange your bill due dates. Adjust your due dates so they fall on the same week when you can. Try applying this tip to your electricity, water, gas and other utility bills. That way, you can pay them in one go.
- Set a payment schedule. It doesn’t have to be a fixed date. But you can schedule your payment time on the first and third week of each month, about two days before the actual due date. Once this becomes a habit, paying your bills on time will be second nature.
- Automate payments for fixed-cost bills. Fixed-cost bills are those that have the same price each month. Examples can be your rent, internet, mortgage and phone bills. You can connect these to your bank for automatic deduction or payment to reduce billing stress.
- Settle any debt. Paying off debts is key to a less complex financial situation. It also reduces the number of payments, making it easier to organise monthly bills.
It’s not difficult to organise monthly bills. The best solution is to find an organising technique that suits your preferences and lifestyle, then stick to it.
Once you make this a routine, payment time should always be smooth-sailing and stress-free! Lastly, complement your bill organising method with a family budget plan for best results.