No one likes paying bills!
Especially utility bills and rates all feel like throwing money away because they’re for things we cannot see! Well at least that is how I feel about it haha
But if you are proactive, manage all your payments and take control then it becomes a lot less painful.
As apart of my monthly
Know What Is Due & When
I know that sometimes you get a nasty bill out of the blue that blows the bank. But for the most part, you know what is coming in and it’s frequency! Some time’s we just choose to forget 😉
I keep a running list of everything we have due and factor this into my monthly budget (click here to download).
I keep a list of my bills each month (as some bills are due in different months or bi-monthly). Then make sure that is visible to me with due and amounts so I can track it!
I have created a copy of my monthly bill tracker for you to use here.
Here are just some of the items I make sure I have listed in both my budget and monthly bill tracker:
- House repayment
- Utility: Gas, Water, Electricity, Phone, Internet
- Insurances: Car, House, Health
- Credit cards
Change Your Due Dates
I change all my bill and repayment dates to reflect our pay cycle!
This makes it a lot easier to make sure you have money to pay the bills on time. I always make bills and debt payments my priority before spending anything for the week.
This also makes it a lot easier for you to track and set reminders so you don’t miss a payment!
Set Up Automatic Payments
This can either be via your own bank or via direct debit.
I actually do a mix of both. I set aside around $25-50 per fortnight for each bill and this is automatically debited proactively to each utility. This is in line with our pays.
This means when the bill is issued it will be much lower, and then I have a direct debit arrangement with the provider so I don’t forget to pay it.
I pay all my bills with a credit card so I can earn points but I pay each card off at the end of each month. I find this the easiest way for me to track it.
Make sure you download the Bill Tracker to stay on top of your payments.
Constantly Check Your Contracts & Rates
By keeping a monthly log of bills as well as factoring it into your budget means you are always reviewing these products.
You guys know I like to drill it in to always be assessing your contracts and rates on all your financial products and utilities!
Be Proactive When You Fall Behind
Sometimes it just cannot be helped. Things happen and you find yourself in a position of being late to pay and accounts becoming overdue.
GET ON TOP OF IT ASAP!!
Call your provider before the due date and let them know of your circumstances. Make payment arrangements. Get any further fees and charges frozen and avoid more debt.
Let your bank also know of your financial situation and Centrelink (if applicable) and seek help.
But be sure to keep on top of it all as much as you can. Create a monthly budget and factor in all these expenses as well as track your bills and work out average payments!