Paying and filing bills can help you track your expenses, monitor you investments, check the money you save and avoid missing some due dates. Having this kind of system will help you from massive headache of paying penalty for the delayed payment. Here are some tips to organize your bills and files properly.
*Open bills as they arrive. Don’t leave your bills unopened. Once you get your bill open it (sometimes we tend to forget a bill lying around somewhere) and put all the pending bills in a bill holder or in a long envelope. Mark the payment dates on log it on your calendar.
*Use an “IN” Box. Track your expense by placing paid bills, receipts, or non-recipe cash payments in an IN box before filing them. Set a time and day to record these expenses in a notebook.
*Find Space and time to prevent misplacing your bills, find a space for theme together with other materials you need like pens, papers, calculator and checkbook. See when bills are due, budget them, and pay your bills on time.
*After paying your bills, record them immediately before filling them separately. This enables you to accurately track all your expenses.
*You may use white folders and label them on a monthly basis. You may also clip the receipts according to their category such as meals, clothing, gasoline, groceries and other expense. Keep your record according to the type and do the trick. Don’t put too many items in the miscellaneous category to avoid hiding expenses.
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