How to Pay Monthly Bills on Time
Write down your bill cycle., File your paper bills., Create folders for electronic bills.
Step-by-Step Guide
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Step 1: Write down your bill cycle.
Your budget should include all of your bills, expenses, and income.
Include the due dates for your bills and your income schedule (i.e. weekly, bi-weekly, monthly).
Some of your bills will likely be due earlier in the month while others will be due later in the month.
Organize your bills in the order that they need to be paid.Also write down which check you will use to pay each bill.
For example, use your first paycheck to cover the bills due earlier in the month and your next paycheck to cover bills that are due later in the month.
If you find that you do not have enough money to pay your bills at the payment due date, contact the company and ask if your due date can be moved.
Credit card companies and student loan companies are more likely to change your due date than your rent and utilities' providers. -
Step 2: File your paper bills.
Get a file cabinet and some hanging folders.
Label each folder with the type of bill.If you pay your bill on the same day that you receive it, file the bill once it is paid and write "paid" on the bill.
If you do not pay the bill the same day that you receive it, keep the bills in the area where you usually write checks or pay your bills online.
Circle or highlight the bill due date as soon as you open the bill.If you file your bill before you pay it, you may forget to go back and pay the bill.
It is best to place the bill in your "bill paying" area so that you do not lose them.
Once you pay the bill, you can shred the bill and throw it away or store the bill in the file cabinet.
You can also scan your bills into your computer and file them electronically with your electronic bills. , Create folders within your email account to keep track of your electronic bills.
Have at least one folder for your bills and invoices and another folder for receipts and payment confirmations.
If you prefer more detail, you can have folders for each of your bills (e.g. credit card, rent, mortgage, car payment, utility, student loans, etc.).If you do not want your bills stored in your email account, you can use a similar system and keep your bills in a folder(s) on your computer.
The more detailed you are, the easier it will be to pull out information and financial statements when you need them. -
Step 3: Create folders for electronic bills.
Detailed Guide
Your budget should include all of your bills, expenses, and income.
Include the due dates for your bills and your income schedule (i.e. weekly, bi-weekly, monthly).
Some of your bills will likely be due earlier in the month while others will be due later in the month.
Organize your bills in the order that they need to be paid.Also write down which check you will use to pay each bill.
For example, use your first paycheck to cover the bills due earlier in the month and your next paycheck to cover bills that are due later in the month.
If you find that you do not have enough money to pay your bills at the payment due date, contact the company and ask if your due date can be moved.
Credit card companies and student loan companies are more likely to change your due date than your rent and utilities' providers.
Get a file cabinet and some hanging folders.
Label each folder with the type of bill.If you pay your bill on the same day that you receive it, file the bill once it is paid and write "paid" on the bill.
If you do not pay the bill the same day that you receive it, keep the bills in the area where you usually write checks or pay your bills online.
Circle or highlight the bill due date as soon as you open the bill.If you file your bill before you pay it, you may forget to go back and pay the bill.
It is best to place the bill in your "bill paying" area so that you do not lose them.
Once you pay the bill, you can shred the bill and throw it away or store the bill in the file cabinet.
You can also scan your bills into your computer and file them electronically with your electronic bills. , Create folders within your email account to keep track of your electronic bills.
Have at least one folder for your bills and invoices and another folder for receipts and payment confirmations.
If you prefer more detail, you can have folders for each of your bills (e.g. credit card, rent, mortgage, car payment, utility, student loans, etc.).If you do not want your bills stored in your email account, you can use a similar system and keep your bills in a folder(s) on your computer.
The more detailed you are, the easier it will be to pull out information and financial statements when you need them.
About the Author
Barbara Stokes
Writer and educator with a focus on practical crafts knowledge.
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