How do you organize your files with your bank statements, credit card statements, tax deductible items, home insurance, medical insurance, pay stubs, etc.? Year after year.
I have a realy strong magnet with a clip on it that I put all my unpaid bill on that I keep on my refig. I write the amount and date due on each envelope. When paid I write ck# on bill or staple online reciept to bill and place in monthtly bills file. I have files for credit card info, pay stubs, online purchases and bank statements. Just remember to file the same way everytime ie most resent in front. Also purge your files everyonce in a while. Might want to consider a fire safe for valubles like wills, home and car titles, savings bonds etc.
I KNOW THAT THIS WILL SOUND STRANGE, BUT...I DO NOT HAVE A DESK AND THE FILE FOLDERS WERE JUST NOT WORKING. I TOOK AN HANGING SHOE ORGANIZER AND HUNG IT ON MY BEDROOM DOOR. IN EACH SLOT I KEEP VARIOUS IMPORTANT PAPERS.MY BILLS, BANK STATEMENTS, MEDICAL INFORMATION EVEN MY SHOPPING CIRCULARS, IT MAKES IT SO MUCH EASIER TO SPOT WHAT I AM LOOKING FOR AND DEPENDING ON THE SIZE OF THE ORGANIZER, YOU CAN DO MONTHLY COMPARTMENTS. I HOPE THAT THIS HELPS. HEATHER
In our big filing cabinet, we have a hanging file for each category-- electric bill, bank statements, etc.
In our little filing cabinet, we have manila filing folders, one for each category with the year labeled, too-- electric bills 2007, bank statements 2007 etc.
Throughout the year, we put stuff in the little filing cabinet as we receive it. At the end of the year, we take the manila folders from the little filing cabinet and put them in the hanging folders in the big filing cabinet. Then make new manila folders for the little cabinet-- electric bills 2008, bank statements 2008, etc.
We started this in 2006 and it has worked pretty well.
THIS HAS NOTHING TO DO WITH ORGANIZING BILLS, BUT ..WE USE A LEDGER TO POST OUR BILLS IN.I PUT THE DATE DUE, THE NAME OF THE BILL AND PLACE A CHECK MARK BESIDE IT WEHN IT GETS PAID ALONG WITH A CHECK NUMBER SO IF I EVER NEED TO VERIFY THAT SOMETHING HAS BEEN PAID I SIMPLY LOOK UP THE CHECK NUMBER IN MY REGISTER AND CAN TELL YOU EXACTLY WHEN IT GOT PAID. I CAN GO BACK FOR THAT LAST 10 YEARS IN OUR LEDGERS AND KNOW WHAT WE PAID THEN AND TO WHOM
I have a 3 ring binder and I use page protectors In addition to my bidget forms and bills I ALSO include copies of all my insurance policies and investments. If we were threatened by a tornado I'd take the binder to the basement with me If I were to die my DH could pay te bills AND collect the life insurance policy all by going to the same binder! LOL
1. KEEP YOUR PENDING BILLS TOGETHER, IN ONE DESIGNATED AREA.
As soon as your mail arrives, or at your designated mail sorting time, sort through the mail, separating your pending bills from all of your other mail. When done sorting, immediately place your pending bills in an envelope, pocket folder or Pending Bills basket.
2. DO NOT SEPARATE EACH PENDING BILL INTO A SEPARATE FOLDER.
Whatever you do, don't put your utility bill in one folder, your car insurance bill in another folder and your membership dues bill in another. All pending bills should be together in an envelope, pocket folder or basket so they can be paid without having to search 10 different places to find them. My husband and I use a Bill Paying Pocket Folder Book which has about 20 Pocket Folders inside. All of our Pending Bills go together in the very first pocket folder. All Paid Invoices/Receipts then get filed in the individual categorized pocket folders that follow. This system works like a dream for us.
3. DESIGNATE 2 TO 4 REGULAR DAYS PER MONTH TO PAY YOUR BILLS.
Ninety-nine percent of the time, you don't have to drop everything you're doing when you get a bill in the mail to pay it immediately. Designate 2 to 4 days per month and do all of your bill paying on those days. My husband and I pay our bills on the 8th and 22nd of each month. You may do the same, or perhaps you might want to pay any pending bills one day per week, such as, every Friday.
4. PAY YOUR BILLS IN ONE PLACE AND KEEP ALL OF YOUR BILL PAYING SUPPLIES TOGETHER.
In order to speed up your bill paying efforts, always pay your bills in one place, whether that place be your desk, the kitchen table, etc. Wherever it is, this area should be equipped with your bills, checkbook, envelopes, stamps, pens, pencils, a calculator, tape, a stapler and return address labels. If you don't have drawers to keep your supplies in, get yourself a small plastic box, or even a shoe box, and keep everything inside.
5. IMMEDIATELY RECORD YOUR PAID BILLS.
As soon as you pay each bill, immediately record the payment in your check register or computer software register. Don't wait until later because if you do, there's a good chance you will forget. And once you forget, you'll have to waste time and money later dealing with overdrawn account fees.
6. PLACE PAID INVOICES/RECEIPTS INTO A BILL PAYING POCKET FOLDER BOOK OR CATEGORIZED FILE FOLDERS.
Once you pay your bills, mark your copy or section of the invoice with the Date Paid, Check Number and Amount Paid. Then, file each into the appropriate pocket of your Bill Paying Folder-- with one pocket for each; i.e. Utilities, Insurance, MasterCard, Visa, etc.) or into categorized folders in your filing cabinet.
7. ORGANIZE YOUR CANCELLED CHECKS AND CHECKING ACCOUNT STATEMENTS.
Every month you will receive checking account statement(s), and possibly cancelled checks, from your bank. Immediately place them in a folder until your designated monthly date rolls around to reconcile your checking account. Then, keep your statements and cancelled checks all together in a folder for the year. You may need to retrieve them later for your accountant when tax season rolls around. By the way, any bank statements and/or cancelled checks more than a year old can be stored away in a different area than your current files. You may also consider checking with your accountant to determine how long he or she suggests you need to keep this information.
8. CONDENSE YOUR CREDIT CARDS.
The more credit cards you have, the more difficult it is going to be to keep them organized, and the longer it's going to take you to pay your bills. Whenever possible, condense your many credit cards into 2 or 3 credit cards, and get rid of the rest.
9. PREPARE ENVELOPES FOR RECURRING BILLS BEFOREHAND.
For recurring bills, such as mortgage, rent or loan payments, you'll save a lot of time preparing a bunch of envelopes for each beforehand. For example, let's say you have to pay the rent each month. Make a year's worth of envelopes out with your landlord's name and mailing address, your return address and a stamp. This way, everything will be all set to go each month. You just write out a check, place it in the prepared envelope and mail.
10. SIMPLIFY EVEN MORE WITH INEXPENSIVE MONEY MANAGEMENT SOFTWARE.
If you're paying your bills manually, you may consider purchasing inexpensive, money management software. My husband and I use Quicken. It's a breeze to set up and reduces the time it takes us to pay our bills by more than 50%. Plus, it's a great time saver at tax time because it will automatically organize all of your income and expenses, with a print-out, ready for your accountant.
About The Author: by Maria Gracia - Get Organized Now! http://www.getorganizednow.com FREE Idea-Pak and E-zine filled with tips, ideas, articles and more to help you organize your home, your office and your life at the Get Organized Now! Web site!
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Archives:
Tip: Organizing Bills and Statements
Archived on 02/23/2007
Three Ring Binder
I got tired of digging through filing cabinets to find a statement or bill so I started punching holes in my bills and organizing them in a three ring binder. I organized them by date. (Bills too small to be punched were taped or stapled to a larger piece of paper.) I had separate sections for bills, taxes, insurances, credit cards, etc. I had a separate binder for medical papers and bills and one just for the house which contained my mortgage contract and statements. When I needed to find a statement, I just flipped through the appropriate binder and each year I start new binders.
By Sharon from Bonita Springs, FL
See Through Folders
I use the binders that have zippers all around and metal rings inside. I put those plastic see thru folders that snap shut, I punch holes thru them and place them in the binder, label them, that way you can just slip the bills in there and when it comes time to pay the bills you have everything including pens and whatever else you need all in one binder and zipped so you don't misplace the bills! Works great for me!
By Kay
Folders for Each Day of the Month
In the front of my file cabinet (main file cabinet) I keep folders marked 1-31, representing each day of the month. As bills arrive, I place them in the folder for the day I need to pay them. Really helps me to get my bills paid on time.
