A Proverbs Wife

Organizing Your Bills

Organizing Your Bills

I must say that my husband and I have a great system for organizing our bills.

Organizing Your Bills

From the way we used to argue about how to manage the finances I could never have imagined we’d be on the same page using the same system.

Early in our marriage I tried all kinds of elaborate systems especially those that included spreadsheets and programs but my husband hated them. He felt they were too time consuming and didn’t like having to boot up the computer every time we needed to manage our finances.

As I learned more about his style I came up with a simple budget binder systemthat made us both happy.

We now use this very budget binder to organize our bills and invoices.

Budget Book 002-2

This is my process

1. When bills arrive in the mail, I write the due date on my bill pay form, I then slide the bill inside of my “to be paid”  bill binder pocket so I have it on hand when it needs to be paid.

Budget Book 003-2

2. At the beginning of each week my husband looks at the bills calendar to see what bills need to be paid and pays them. As he pays each bill he fills in the columns on our bill pay form so we have a record of balances, method of payment, which account we paid from and what balance may be remaining.

3. All bills that don’t need to be kept for tax purposes are trashed. If it’s one we file, he places it back in the “to be paid pocket”.

4. At the beginning of each month I go through the “to be paid” pocket and remove all of the paid invoices. I then file the paid invoices in my filing folder, grouping like invoices together eg. phone, electricity, etc.

5. At the end of the financial year, and after filing our taxes, I then gather the invoices and add them to our yearly income tax folder.  We keep these invoices for 7 years.

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