Do you often feel overwhelmed when it comes to paying your bills? Does it seem like bills are all over the place or that you can never remember to put money in your savings account?
Getting your finances organized can make a huge difference in your life. Let's take a closer look at some tips to organize your finances.
Use a Bill Organizer
You can actually pick up bill organizers at the Dollar Tree (or Amazon). These make it so simple to stay on top of your bills. There's an envelope for holding all your bill statements and there is an area to write down what's due, when it's due, how much is due, and what you paid. Fill each month out as soon as your bills arrive through email or your mailbox.
Set Bills to Auto Pay
Whenever possible, you want to set your bills up to be paid automatically. This means that the amount will be pulled out of your checking account on the same day each month. With that said, you want to make sure to make a note in your planner of when the bill is due. It even helps to make a note to put the money in your account a week before the bill is set to hit your account.
Build Your Savings Account Automatically
With some banks, you can set your savings account to automatically deduct money from your checking account. You can choose to do this weekly, biweekly, or even monthly. When your savings account is set up to automatically withdraw money, you treat the amount like any other bill. In other words, it becomes a priority to save money.
If you really want to be organized with your finances, look for ways to consolidate your bills. For example, instead of paying ten credit card bills each month, get a low interest loan** and pay off your credit cards (or come up with a plan to pay off your debt quickly). You'll then only need to make one payment a month. The same goes for your cable, internet, and phone. Get the services combined so that you just have to pay one bill. In both cases, you'll end up saving a lot of money and being more organized.
**You'll need to make sure that you don't continue to rack up debt on the newly paid off credit cards or you'll find yourself in worse debt than before.
Your finances don't have to be a headache or nightmare. There are ways to organize your finances so that you can stay on top of things. Whether you use a bill organizer or consolidate your bills, you can make things much, much easier for yourself.