Getting organized may seem like a large undertaking. It is just so overwhelming that people choose to ignore it or come up with excuses of why it is not possible for them. Below are a few steps to help set you on the path to bill organization. Happy organizing!
- Use a System: Have a system of how you pay your bills. Create a filing system to keep all your bills in one place. Maybe you pay all your bills online or use a bill pay system that is offered by your financial institution. Whatever you choose to use, keep it simple.
- Know what you owe: Knowing what bills you have and have not paid is one of the first steps to being less stressed. Writing down all the bills you plan to pay each payday is a great way to keep on top of things. Also, writing down all the balances and credit limits for your credit cards will help you keep track of balances and stay below credit limits.
- In or Out: Keep a small bag or trashcan close by so you can dispose of junk mail right away instead of having it piling up on a table in the house. You can choose to Opt Out (888-5OPTOUT) which will limit the amount of junk mail you get, but you will have to renew it every five years.
- Make lists: When you go shopping, take a list with you and stick to it. You will be less likely to make impulse purchases. If you don’t have it written down, don’t buy it.
- Have a place for everything: Have some space set aside in your home for your bills. If you have an office, make a little room for your bills. If not, all you need is one location that is designated for your bills. That could be file folders for each bill in a file box.
- Open ALL your mail: I know it is easy not to open mail, especially when you know it is from a bill collector. BUT you need to get in the habit of opening all your mail. There could be an unpleasant surprise that you should know about like a late fee or a change in the bills’ process. There may even be a surprise like a check for some.
The takeaway……Getting your bills organized will save you time and create less stress in the long run.
By Evette Baker, Financial Education Specialist