What’s Your Bill Paying Process?

No one likes paying bills. Unfortunately, it’s something we all have to do. The third week of February just happens to be National Pay Your Bills week. So I thought I’d share a few tips on making this process a little bit easier.

  1. Keep all of your incoming bills in one location. This could be a folder or inbox on your desk or a box on your kitchen counter. Where ever it is, all bills that need to be paid should go in it. 
  2. Keep all of your bill paying supplies in one place. Stamps, pens, pencils, your checkbook, envelopes, return labels, etc. should all be kept together. If you like paying your bills while watching TV, keep the supplies in a box that you can take with you to the couch and store out of the way when you don’t need it.
  3. Balance your checkbook before you pay bills. Pull out the receipts from your wallet. (We have one spot in our house where all receipts go so I don’t have to go bothering my husband about receipts when I want to balance our books.) Keep in mind any debits or credits that are going to happen in the next few weeks (such as incoming salary or automated bills being paid). This way you won’t overdraw your accounts.
  4. Sit down 1-2 times a month and pay all your bills at one time. Make these regular times, say the 3rd and 24th of each month.
  5. Immediately record all the paid bills either in your checkbook or your computer software register and (if necessary) file them.
  6. Automate payments where possible. Maybe you can have your cable bill and phone bill automatically put on your credit card. Just ensure you review those bills regularly to ensure you’re not overpaying.
  7. Pay your bills online. I log on to my checking account and pay all of our utility bills at the same time. You can even post date when necessary. Maybe you’re headed out of town and need some bills paid while you’re gone. You can do this with online bill payments.
  8. Consolidate your money as much as possible. Have only 1-2 debit and credit cards to use for everything. You don’t need all those department store cards or gas cards. Fewer bills coming in means it’s easier to keep track of where your money is going.

I hope these tips help you create an easier bill paying process!

Leave a Reply