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Clean Up Your Bill Clutter Once and For All |
| By Roxanna Ward |
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An unorganized bill system can bring havoc to your finances. You have to create a system and keep it in place so that it works for you. Somebody else's system will never work for you. But you may be able to take some ideas from others in order to create your own.
If you are anything like me, your system has to be simple. A system that is too complicated gets put off. Then the domino effect takes place. The more you put it off, the more there will be to do in the long run. Personally, the method I use has worked for me for several years. I have kept it simple and easy to use so that in case anybody needs to, they can jump right in and take over where I left off. Hopefully you can benefit from my methods as well.
I have a one inch binder that is the center of my bill system. Do no use a binder that is any thicker. The thicker the binder, the more clutter it can hold. Your binder needs to have three prongs to hold paper and dividers. It needs to have pockets on the front cover and back cover. The beginning of school is a great time to buy binders. I recently found them for $.50 each. Don't spend a lot of money creating your binder.
Now let's organize your binder and rid your life of bill clutter. Open your organizer. The pocket on the front cover should be used for future purchases only. Place catalogs here. But be careful not to overload the pocket with junk. No more than three items in this pocket at a time.
The first organization tool you should have in your binder is a divider with a pocket. This pocket is where you first park your incoming papers. I'll tell you more about this later.
Next you should have a bill schedule form for each bill you have. Even if you do all your bills on the computer, this piece of paper is the most important tool you may have. In the event of an crisis, all your payee information will be in one central location. Your bill schedule form should have four lines at the top. On these four lines put the payees name, address, phone number and your account number. The remainder of your page should contain a simple spreadsheet. The spreadsheet should contain a place for the balance, date due, amount due and date paid/amount paid. More on how to use this later. I know this sounds like a lot of work, but stick with me. You only have to print these pages once a year. Make a blank form, print plenty and fill out the needed information at the beginning of the year. Use the extra forms throughout the year as you need them.
The last item in your organizer is another pocket divider. This divider is the last place you park your bills until they are filed in their final destination.
You are now ready to use your organizer. Your bills come in. Take each bill and log them onto their individual bill schedule form. Proceed with your usual bill paying system. Place the paper bill into the last pocket divider. When you pay your bills, pull this paper bill, log the payment onto the bill schedule form and file. You should never have more than one bill for each payee in the divider at a time. This helps cut down on clutter also.
This is the basis system that I have in place. Occasionally I change a little detail here and there. Overall it works for my family. Create a simple system for you and don't be afraid to change alter it as needed to make it work for you.
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About The Author:
Roxanna Ward, Community leader and staff writer for http://www.BabyUniversity.com,">http://www.BabyUniversity.com, lives in Georgia with her husband and her three children. As a published freelance writer the focus of her writing is concentrated on sharing household tips, her experience with her frugal lifestyle as well as the phenomenal process of breastfeeding, child rearing related issues and romantic relationships. She is also currently the Editor of three newsletters: What's New at BabyU?, Intimate Encounters and At Home with Baby University. Roxanna can be contacted at http://www.BabyUniversity.com |
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RE: Clean Up Your Bill Clutter Once and For All
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Post By CF (guest) (Guest Post)
(05/03/2006)
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Always a good idea to look at bills when they arrive, discard everything except the bill itself (and the return envelope if you snail mail 'em), and store it in a HIGHLY VISIBLE place until it's paid.
When I pay the bill, I document the date, amt, and check number (or method of payment) on the bill. I chuck it in that month's folder. Done.
I use an EASY filing system I found in Confessions of an Organized Homemaker: The Secrets of Uncluttering Your Home and Taking Control of Your Life by Deniece Schofield. This system has been easy to adapt as the years go by. I purge and tidy them up once a year after my taxes are done. Highly recommended.
Practically everything paper I'm done with for now get filed in 12 "Active" monthly files: paystubs, bills, all receipts to save for taxtime, greeting cards and letters I received, insurance EOB's, newsletters. I don't take the time to separate out stuff like that into individual files (bills, medical receipts, paystubs), because I really don't need to find them again that frequently.
Behind the monthly "Active" files are some "Permanent" hanging files for stuff like Employment, Academic, Residence, Insurance, Vehicle, Retirement, Closed Accounts, Credit History, and Health records. These files are subdivided by manila folders if needed.
Behind the "Permanent" files is an alpha accordion file for product information and warranties with purchase receipts stapled to them. P for phone, B for bicycle, etc.
That's it. I spend very little time filing.
CF (guest)
RE: Clean Up Your Bill Clutter Once and For All
We have a manila folder with a large brad on the top of the back page, the back page of the folder is labeled "unpaid bills", when a bill comes in, holes are punched in the bill and they are inserted into the back of the folder, top of the front of the folder on the inside has a brad and labeled "paid" bills; after payment, the paid part of the bill is placed in that space for filing purposes. The creditors, amounts and other pertinent information is posted on the inside of the folder for quick reference.
RE: Clean Up Your Bill Clutter Once and For All
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Post By Faye (Guest Post)
(02/11/2006)
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Our system is pretty simple too. When a bill comes in, we open it, look at it for errors, then stuff it back in the envelope and write the date due on the end of the envelope.
Then we have a place where we put all the bills in order by due date, so you can easily see the due date. We keep ours right next to the computer and that is the first thing I see when I go on the computer, which is almost daily.
RE: Clean Up Your Bill Clutter Once and For All
I use a book called Dome simplified monthly bookkeeping record. It's easy to use and at the end of the year there is a tear-out sheet to send to the accountant for taxes.
RE: Clean Up Your Bill Clutter Once and For All
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Post By John H (Guest Post)
(02/10/2006)
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We have 2 spiked files at home that were purchased at a very reasonable price 1 is for bills to be paid, the other is for PAID bills at the end of each 1/4(every 3 months) I file these PAid receits away ready for tax time
Clean Up Your Bill Clutter Once and For All
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Post By Syd (Guest Post)
(08/15/2004)
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I do things similar to what Jo posted, who sent in her comments. Keep it simple!
When a bill comes in I write it on the calendar in my office/computer room. If there is a debit date, I note this on the calendar so I can mark the check book accordingly.
I have to sign up on some bills where it is a debit ... no credit cards allowed. I pay everything I can on the Frequent Flyer Credit Card to gain mileage and pay it off each month without any interest.
I pay the frequent flyer credit card over the internet to save postage.
For those bills that you can only pay with a credit card in their office, I schedule when I am going to be in that area and pay all that I can in person ... while doing other shopping in the area.
Not everyone can do this, and I understand.
This is what works for me. I am a senior who prepared ... young people starting out could not do this!
I have a box that I put all charge receipts in as well as a box for all cash purchases, in case I need to return something.
RE: Clean Up Your Bill Clutter Once and For All
This seems an unnecessarily complicated method to me. I have a clip board in a prominent place in my computer/office area. As bills arrive I note the payee and amount on my wall calender and clip the bill to the clipboard, in order of next due on top. I check my calender daily and pay each bill as it arises on line or by phone with my credit card, (which I pay off in full each month). I write the receipt number on the bill, enter it into Quicken and file it in a subdivided A4 folder. I discard bills after one year. At the end of each month, when I discard the that months calender page, I enter the payee and amount in my diary which helps with formulating my budget for the next year, (no unexpected bills!).
Regards
Jo
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