Yesterday was payday. Years ago, payday was a celebration, out to dinner, shopping, rich for a day!!! But when one grows up, and decides to try to be in a good financial position, payday is not quite as fun. This is my tried and true system of how to pay all your bills on time, every time.
1. Start with a list of all your bills for the month. Include who is paid, how much, and when it is due.
2. List all your pay days for the month.
3. Divide up the total of all your bills by the number of paychecks you will be getting.
4. Make a list for each payday of what bills will be paid. For example, my January 13th paycheck said, "$xxx to savings for Feb. Mortgage. $xxx student loan. I try to hit as close to the target of step 3...bills divided by paychecks, so that I typically pay out in bills an equal amount each payday. (Bills that are larger than your paycheck, like mortgage, divide up into 2 paychecks.
5. I set up my bills to be paid on electronic pay, so I don't even need to do much else when payday actually arrives.
6. Check off each bill as it goes through your account, so you know they each got paid.
I keep my list of paychecks and bills in a notebook, typically a few months in advance (mine are budgeted until March right now) so if you have money stress, it is not over bills (it is over the small amount left over AFTER bills). This strategy makes paying bills QUICK, and keeps a close eye on your bottom line (and I wish that bottom line was bigger!!!!!!!!!!!!!)
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