Christian PF’s bill paying schedule
Bob at Christian PF has this post: Money Mistake #4 – Not having a schedule for bills.
A snippet:
Every time I have been late paying a bill, it wasn’t because I didn’t have the money, but because I forgot about it! My hunch is that most late-fees occur for that same reason.
Back in those days when I lived in financial chaos, I didn’t have a system in place to help me remember to pay my bills. For me this was just like playing roulette with my bills – I remembered to pay them sometimes and sometimes I would forget.
Bob then worked out a system to pay bills twice a month, and a tracking system of which ones should be paid on which cycle.
I like his idea, but keep in mind some of those billing cycles vary throughout the year and might not fall on the same date every month. Your scheduling system needs to be flexible enough to handle that.
My husband and I stack our respective bills in easy-to-remember locations as the bills arrive. I go through my stack every payday. He goes through his stack every Saturday. We pay particular attention to due dates that fall during the first two weeks of the month, because that happens to be when most of our bills come due.
Posted: May 5th, 2009 under Financial Literacy, In the Blogosphere.
Comments: 1
Comments
Comment from ChristianPF
Time: May 5, 2009, 1:17 pm
yep, you are right there were some bills that we had to make adjustments for if they had odd cycles. Thanks for the mention!


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