February 7, 2012

Bill Organizer -One way to make Cents

NOTE: For this and other great ideas, visit my new blog:

EatWhatYouStore.com

 
 

Check out my new website: Eat What You Store.com for more ideas on becoming organized and becoming Self-Reliant.

One way to save cents every year is to pay your bills on time. Did you know that 1/3 of the income from credit card companies is because of late fees? That is a lot of money!

I hate to admit it, but I was in a rut from paying my bills late. After my husband lost his job twice in one year, and we didn't have an income, we had no way of paying our bills. And because we couldn't pay the bills, the bills got bigger. When he did get a job, we were behind. We didn't think we could ever get things paid off, let alone pay them on time. But, with simple budgeting and getting our bills organized, we have been able to get back on track. We are even paying off our bills. Our goals is to have everything except our house paid off in five years. We are doing it, and you can too!

As I found, putting off a bill doesn't mean it will go away. You will just end up with more to pay. And, it adds up fast! Let's say your credit card company, bank, or mortgage charges $35 each time you have a late payment.
  • Only 1 late fee each year, it will cost you $35. That is $35 you could have spent on other things. 
  • But, if you have 1 late fee every month, that is $420 a year!
  • And, think about it...if you have 10 late bills each month, that is $4,200 in late fees over a year!
Many moms will say, "I wish I could afford to stay home." Or, families say, "I just don't have the money to build my home store." By paying your bills on time and budgeting, it helps make this possible!

So, I have created a bill binder or bill organizer to help you out!

Here is what you will need:
  1. A large d-ring binder with a clear pocket cover. Get a 2" one if you can find it. Trust me.
  2. Clear sheet protectors. Make sure you have at least 12. (One for each month.) You will also want one each for stamps, envelopes, insurances and your taxes.
  3. Print off one set of the binder pages below. (Scroll down to see your front cover and side piece.)

  4. White address sticker labels. I used the 1" x 2 5/8" ones that come with 30 on a sheet. This is to print off the months for you to use.
Directions:  

You will want to get the biggest binder you can find to put your bills in. This is a side view of mine from 2011. It is huge...and heavy! And now that I need to get my taxes done, I know exactly where everything is!


Next, put one sticker on each of the twelve sheet protectors for each month. Then, put on the ones for stamps, envelopes, and insurance. Lastly, put the one on for taxes. Then, put them into your binder.

I like to have my stamps and envelopes at the front. Put any stamps you have in your house in the appropriate sheet protector. After I started doing this binder, I kept finding stamps in different drawers and I would add them to my collection. Now, when I need a stamp, I know right where to look. Next, put some envelopes in their spot. I know a lot of you pay your bills online, so you might not need either of these in your bill organizer.
Then, put each of your month sheets in your binder. When you get a bill you need to pay, put it in the front pocket of the binder. This way, you will know what bills need to be paid. Then, every time you pay a bill, file it in the appropriate month. I always write the "confirmation number" right on the bill. This way, if there is any question as to whether I paid a bill or not, I have the number.

After each of the the 12 months, I put the insurance sheet protector. This is where you can file the yearly information for your life insurance, auto insurance packet, and your homeowners insurance. The last sheet protector is for your tax info. When you start getting your tax information, you have a place to put it. (I am proud to say that I no longer loose our tax papers!)


Next, print off the front and side for your bill binder. I made two for you to choose from.



Here is the edge of this one.




Here is the edge of this one. Click here to open it.


 Hopefully, you will like them enough to print them out and start your own organizer! 

For more ideas on paying your bills, check out this website.

Before I started using this bill organizing system, I would loose papers, forget to pay bills, and I felt like I didn't know how to get organized. Now, our bills are on time, I know which ones need to be paid, and they are all in one place!

Once you learn to control your debt, it can change your whole life.  And, I promise you, it will make your  life better. It is so relieving knowing where the money is going every month. It is awesome to know that we are on the right track to getting out of debt.

Paying your bills on time {It Makes Cents}

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