Do you have bills that keep surprising you when they’re due?

Managing bills can seem like a daunting task because it involves keeping track of everything. Some people forget to make payments on their bills and end up spending money on other things, causing them to not have enough to catch up.

If you start falling behind on bills or would like to find a better way to keep track of them, fret not. There are several ways to manage your bills that won’t cost a dime, and you can save more money in the long run.

Read on to learn how to manage bills the right way!

Keep a List

Paying the bills can be a hassle if you’re a busy person with many things to do. Often, people that are new to paying bills won’t remember everything that they have to pay.

If you forget about bills that you pay, check your bank and credit card statements to find everything that’s recurring. Things like gym memberships, online subscriptions, cellphone and utility bills are all recurring (monthly).

When you make your list, be sure to write down who you’re paying to. After you’ve made your list, separate it into two categories of bills that are auto-recurring and those that are manual.

Know the Due Dates

Knowing when your payments due is important to efficiently manage your bills because you might have payments that can affect your credit score.

For example, if you have debt consolidation loans that you need to pay, knowing your dates will let you be ready instead of missing a payment and further lowering your credit.

If you can, try to change your due dates to revolve around when you’re paid. If you get paid biweekly, don’t change the due dates of all your bills to be close to one due date. You should be able to pay some bills with one check and the other bills with the next.

Use a Calendar

Using a calendar is a classic method of managing bills because it gives you something to look at that aligns up with your other events. If you already use a calendar for other things, you’re off to a good start.

The best part about using a calendar is that you can use one in your home and one on your phone. Whenever you’re on the go, you can pull your phone’s calendar app up to make a change to your schedule or see what you have to do.

You can write notes down about how much you’re paying and the amount. On some apps, you can color code dates on the calendar to make them easier to manage.

Consider Paying Extra

Depending on what kind of bills you’re paying, you may have the opportunity to pay extra on them. This is common with mortgage payments because they’re loans that are being paid off.

For any bill that allows you to have a monthly balance, you can pay more than the necessary amount. For things like credit cards, you’ll be able to save more on interest and avoid extra debt down the line.

Use Automated Payments

Today, many companies are already incorporating automated payments into their services as a standard way of receiving money. Managing bills has never been easier because companies can automatically withdraw the money at the beginning of a billing cycle.

Traditional services like paying rent are also allowing individuals to set up automatic payments because they’re convenient. This is often used by those that forget about making payments or don’t want to risk spending too much money.

Services that accept automated payments will often withdraw the money directly from your bank account, but you can use a credit card if need be. However, you should only do this if you know you can pay the credit back in time.

Make Manual Payments Easier

While automated payments are becoming more common, they’re not available for everything. Many people pay their bills manually because they’re forced to or prefer to pay when they want.

Even though people get their bills paid, they often don’t devise a system for themselves that will save them time and stress. One simple way to do this is by paying your bills immediately so you don’t forget about them.

You can also set time aside to write checks, pay online, and do whatever else you have to do for the bills. If you write several checks, you can do them all at once and put them in envelopes for when next leave the house.

Set Reminders

You can also efficiently manage your bills by setting reminders for yourself. This can be done by setting alarms, signing up for notifications, and setting reminders in your calendar app for dates and times.

You’ll find that using your calendar app alone will be sufficient enough, but you can find other apps that are designed for organizing finances and sending reminders.

You Know How to Manage Bills, Start Managing Them Effectively

Now that you know how to manage bills, you’ll no longer need to stress about when the next payment is due or how much money you have. The best way to manage bills is to choose a method that works for you.

We encourage you to start using any of the methods in this article to ensure that you get your bills paid on time and avoid extra debt. Be aware of the due dates by using a list, calendar, or setting reminders. You can also set up automated payments whenever possible.

Feel free to browse our articles to find more information that can help you in your daily life.

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