Streamline Your Bill Paying SAGE Column September 2009
Streamline Your Bill Paying – How to go almost paperless
While it is not possible to go paperless in paying bills quite yet, you can get close. Even for companies that still don’t send statements via e-mail, you can manage accounts and pay online. You’ll save time by sorting less mail, hunting for your bills, writing checks and searching for stamps.
Get organized by setting up a bill-paying center. Once set up, most people can manage their household finances in about 30 minutes a month, including balancing the checkbook. All you need is a designated spot, your checkbook and a notebook of your liking. Put all bills in this place as they come in.
Use a simple notebook with a page for each account. There, record contact information, account numbers and which accounts are paid to and from it. The amounts of payments, due dates, passwords, and any other pertinent data regarding the account can also be recorded on this page.
Mirror this system in your e-mail program by setting up a “bills to pay” folder. Delete them as you pay, so only the ones still needing action are there. While you are at it, make a second one for “bills paid” to accumulate the confirmations.
Once a week sit down with your checkbook and record the items due that week. Write the checks or click to pay, record auto-payments, and reconcile your accounts.
Set up auto-payments with a credit card (earning rewards) and then just make one payment to the card. Imagine only one bill to pay! Think fewer accounts in the first place by consolidating credit cards and bundling utilities where possible.
Each week convert 2-3 of your accounts to paperless options. Use auto-pay wherever possible, and set up online statements for what is left. Within a couple of months you will be done.
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Miriam Ortiz y Pino’s articles appear monthly in Sage Magazine, a publication of the Albuquerque Journal. Miriam is a Certified Professional Organizer (CPO) and owner of More than Organized // www.MorethanOrganized.net // She works with people who want to simplify their lives in and around Albuquerque, New Mexico.
This article may be freely distributed if this resource box remains attached.
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Tags: Bill Paying, organizing, simplify, solution
