It’s hard to part with your hard-earned income every month. Bills are permanent fixtures in our lives—whether it’s a mortgage, electricity bill, or cell phone expenses. Late payments can lead to penalties, damaging your credit rating—as such; your financial health depends on timely payments.
Being organized keeping track of your bills and payments is essential, here are 4 ways to do so:
1. File all your paper bills in one place
Don’t let your paper bills get scattered all around the house. Keep them in a place that’s specifically designated for storing bills. You’ll immediately know where to store a new one when it arrives, instead of leaving it on a random counter.
2. Save all your online bills in one folder
Like paper bills, online bills can get lost amongst the flurry of spam in our email accounts. Create a folder just for bills with subfolders for the years and months and instantly move the bill to the corresponding month when it arrives.
You can also create an email account that’s specifically for receiving bills.
3. Set a monthly reminder to schedule reviewing your bills
Once you’ve got a filing system in place, you must start managing your payments. Set a time and date every month to sit down and review your bills with no other distractions. Often, people keep putting off their bill reviews until the non-payment fees start rolling in.
4. Track the due dates for all your bills
You’ll need to check both your paper and online folders for bills that are due this month. Using Excel templates or dashboards is a good way to keep track of bills, and you can also print them out to use as a hard copy.
Acquire High-Quality Excel Spreadsheet Templates
Good bill payment trackers will have features that’ll help you keep track of what each bill is for, how much it is, and when it’s due. You should be able to tick off each bill as you pay it off. Make life even easier for yourself by combining this with an expense tracker and deducting the amount of each bill as you pay it. Now you’ll how much money’s left to spend.
Biz Infograph has amazing budget templates on Excel! We also offer free powerpoint templates, fully customizable infographic templates, and Google slideshow templates.
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