Smarter Ways To Pay Your Bills
Let's be honest--there is nothing fun about paying a bill, nor has there ever been, nor will there ever be. The only silver lining is that paying our bills on time makes us responsible, contributing members of society--and yes, there can be that satisfaction that comes with knowing that your hard work is keeping the lights on, and food in the fridge.
But what if there was a way to make paying your bills sort of, kind of, maybe fun-ish? What if paying our bills meant more than crossing off a painful "to-do" list item, and felt more like working towards an end goal where there was happiness, and rainbows, and an exotic vacation waiting for us? With a little extra planning, and some helpful reminders, we think we can help you take bill paying to the next level.
Who Are Bill Pay Schedules For?
Anyone and everyone. Whether your monthly income places you in the 1%, or you're fighting to stay financially solvent, having a schedule and sticking to it can reap longterm rewards that playing fast and loose with your cash won't. If you have a habit of forgetting to mail utility bills, or remembering when an important check is due, scheduling out your bills will keep you from racking up overages, check fees, or additional penalties that add up over time (and make it even harder to pay bills).
Establish a Bill Pay Schedule--And Stick to It
You don't need a special app from iTunes, or even a Google Calendar to set up a bill pay schedule. All you really need is either an old fashioned calendar (or even a homemade calendar), and a writing utensil. Next, collect all your current debts, both monthly and yearly. Begin scheduling your monthly expenses and then move on to yearly or quarterly expenses (like taxes, tuition, or if you happen to pay your car insurance in six month installments). Get crafty and color-code expenses based on type (credit card payments in red, utilities in blue, education in green, auto insurance in yellow, and so on), so they really pop. After a while, you'll start to know what type of expense to prepare for, emotionally and financially, before you even know what it is.
Most importantly, once you have a bill pay schedule in place, stick to it! One late payment can throw off your schedule, and even your credit, if you're not careful.
Check out our blog for other tips on managing your debt, getting better credit card rates, and other tips to set yourself up for financial success.