9 Tips for Making Bill Paying Easier

One thing is for sure - monthly bills will always be part of life. That doesn’t mean your bills have to be a headache. There are ways to manage your bills so that your finances flow smoothly and your bills don’t give you nightmares.

Check your bills regularly. Avoid letting your bills pile up because the higher the stack of bills gets, the more you’ll procrastinate on opening them. Even if you’re not planning to pay them right away, go through your bills at least once a week so they don’t become overwhelming. Reviewing your bills regularly keeps you on top of the expenses you have coming due in the upcoming weeks.

Double check your budget. Having a plan for your monthly spending can keep you on track and ensure you have enough funds to cover your expenses. As your bills come in, double check that the amount matches what you’ve budgeted for. You may have to adjust your budget to make up for any differences in the billed amount versus the amount you budgeted.

Clear up billing errors right away. Read through your billing statement thoroughly to make sure all the charges are accurate and any payments or credits were applied correctly. If you spot anything out of the ordinary, contact your creditor or service provider to have the amount corrected. Otherwise, waiting too long could forfeit your ability to get a correction.

Put due date reminders on your calendar. Some people prefer to pay their bills as they come in the mail. This ensures your bills are always paid on time. If you don’t pay your bills right away, there’s a chance you could forget. As you go through your bills, put a reminder on your calendar in your phone so you know when you pay them. Reminders help you avoid late fees and cancelled services.

Schedule bill payments. You could go a step beyond putting reminders in your phone and schedule the bill payments. That way the bills get paid even if you get busy and don’t have time to set up payments. Keep a list of scheduled bills and subtract those scheduled payments from your available account balance so you don’t accidentally overspend.

Cancel bills for things you no longer use. Many people keep subscription services long after they no longer use them because cancelling is such a headache. But, if you total the amount you spend on unused services, you’d be surprised at how much money you’ve wasted. That’s money that could have gone toward other bills, savings, debt, or even some entertainment. Use part of your regular bill organization time to get rid of bills you don’t need anymore.

Contact your creditors if you’re having trouble. Dealing with money troubles sooner rather than later prevents you from having to dig yourself out of a financial hole several months later. Many creditors are willing to work with you if you can’t make your monthly payment, but you have to call first. Have an idea of what you can afford to pay and when you can get back on track.

Avoid borrowing money to cover regular bills. While a lump sum loan may seem like an easy fix to money troubles, it can make troubles worse. Taking out another loan adds another monthly obligation to your current bills and can put more strain on your finances. Looking for ways to cut your expenses and increase your income are tougher in the short-term, but are the best long-term fixes for money troubles.

Treat your savings like a monthly bill. A healthy savings account is one of the best things you can do for your finances. It takes time to build up the ideal savings account which would be enough to cover up to six months of your living expenses. Prioritize savings as much as you prioritize any of your other bills to ensure your savings gets the attention it deserves.