Managing your bills can seem overwhelming at times, but there are ways to deal with paying bills that can help ease your mind. Believe it or not, stress-free bill management may be more about your emotional state than about actual dollars and cents. Even if you're in debt, you may find the best way to master the stress associated with paying bills is simply to become more organized. Best of all, not only can paying bills on time give you peace of mind, but it may save you from paying late fees, thus helping you keep more money in your pocket and keep a good credit rating. Consider These Five Tips
1. Consider paying yourself first.
Many money management experts agree that it is a positive step to put some of your earnings into a savings account, even if you're in debt. Financially, savings provide a long-term benefit. But emotionally, it can also be positive. Rather than watching all of your money going out, a savings balance can give you the evidence that your hard work is going towards you and your family, in case of an emergency or for future needs.
2. Try letting your computer help you organize your checking account.
Banking online allows you to set up accounts for credit cards, mortgages, car payments, utilities, charities and the like so you can pay them directly from your checking account with a click of the mouse. It can make balancing your checking account a lot easier and more convenient and generally allows for fewer accounting errors.
3. Consider using a debit card for the amount of money budgeted for the week or month.
The purchases you make will show up online, and you can track expenditures. Also, you may be less likely to buy something on the spur of the moment and break your budget.
4. Consider creating a secondary savings account to set aside money for quarterly payments for such items as insurance.
This can go a long way to help you keep your budget in balance and keep you from being short of money when a quarterly bill comes due.
5. Share monthly bill management with your spouse.
If you and your spouse go over accounts online once a month, both of you will know how you're spending your money. This can give you, as a couple, a feeling of control over your joint finances, and you can both share in the positive feeling that comes from having your bills managed well and wisely.