Not Made Of Money

We have a fairly simple method for ensuring that bills are paid in a timely manner.  This is just a system we have worked out through the years, and that has kept us on track financially.  The important thing here is to get organized with the bills, and set up a system so that bills due are paid in a timely manner. 

1.  Bills are opened and reviewed when they are received.  One of us checks the mail and after reviewing the bill for accuracy, places it alongside the return envelope in the designated area for bills pending. 

2.  All pending bills are stored in the same area.  A quick review of these will show how many bills are due at any given time, and makes it easy to pay those coming due soonest. 

3.  We pay our bills and update all receipts to Quicken on a weekly basis.  Since I am working on reducing the grocery bill, I post food related expenses as they occur.  After paying the bills and updating it into our Quicken register, they are removed from the bill pending area.  Any receipts are placed into an area designated as “paid” and await reconciling with the monthly bank statement.  From there they will either be discarded or saved in the appropriate file.   

 

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