Best ever money organising tip


Have you ever considered paying your bills as soon as they arrive rather than waiting til they are due? No accounts sitting around, no due dates to diarise, no forgotten scheduled payments, and definitely NO late fees.  In fact, some companies have a discount for paying early or on time. It feels very liberating to pay on arrival.

I have no money! I hear you cry.  Perhaps you are living beyond your means.  Work up to it!  Set a goal – you can do it!

12 responses to “Best ever money organising tip

  1. I completely endorse this tip – once my 2nd child was born, a “stack” of incoming mail started appearing on my kitchen bench. I found that if I didn’t deal with bills immediately, they tended to get lost in the “stack” and I might not see them again for a month or two. Consequently I had several late fees and one threat of disconnection! So now I pay bills immediately – one touch and it’s dealt with. No more threats of disconnection……..

  2. Always been a goal of mine – not only to be able to pay (financially), but to be motivated enough to do it on the same day (it’s just not fun!). I’ve struggled with some big bills in the past, and felt the relief when they’re paid off – avoiding that stress in future would be fantastic!

    My loose budget does show how much I have to put away to cover these bills, it’s just so much nicer leaving it in the savings account than paying them!

  3. Our bills go straight into my “tickler” file for the date due. We have investment properties and therefore a lot of our bills are multiplied by 4. The money stays in the offset bank account as long as possible by paying on the due date by credit card. The credit cards are always paid in full on the due date (have never paid credit card interest – that would defeat the purpose). Looking at my tickler file is part of my morning routine before I leave for school drop off, work, etc.
    I agree though, that if you are not disciplined and/or don’t have a system you are happy with, definately pay bills as they come in.

  4. I schedule bill payments on the day they arrive using BPAY. The bill gets handled once when it arrives, then paid on the due date so the money stays in my account until it’s needed. In my day to day account I only keep enough for the next few days scheduled bills, the rest is in the savings account earning interest.

  5. Credit cards are not all bad. Almost everything I have to pay is on direct debit and I pay the account out in full every month. In thirty years I have paid one fee which the bank refunded when they realised it was their mistake.
    With my reward points I upgrade my computer OS periodically.

  6. Rather than paying bills as they arrive, I record the details in my diary for the due date. I put a little tick box against each item, to highlight the entry and mark when it’s paid. Then I add the bills to my pile ‘to be paid’ which a special in-tray. I use my diary every day so am unlikely to forget commitments. I just wish I could manage my junk as efficiently!

  7. I went through every single one of my bills, divided them by 26 (fortnights), then set up bpays so that part of each bill is paid each fortnight, just after payday. So far no merchants have complained and it means that the one or two unusual one-off bills are all that I ever need to worry about paying.

    What’s left is ours to spend on groceries, petrol and i know exactly what I have left for the fortnight. And I LOVE getting zero balance bills that just go straight into the filing cabinet.

  8. I have a very small income, and use a money management software to organise when bills are due, so that I can plan/save to pay them ion good time. It works when I work it. I bought it when money wasn’t quite the issue that it is now, and reinstalled on my new pc when my old one, that it was bought for, died. Worth it’s weight, seriously.

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