Welcome back!  I hope everyone had a chance to check out Step 1 of Organizing Your Life: Mail & Receipt Stations.  If you did, and you’d like to share with all of us, please send me your pictures!  Now it’s on to Step 2!

STEP 2: BILL PAY & FINANCE CALENDAR

Let’s face it, keeping track and keeping up with bills can sometimes get a little hectic.  Online Bill Pay through most banking institutions has made this task a little easier, but there’s no way of keeping track of your INCOME vs your outgoing bills through this avenue.

So, I came up with this simple calendar system that has made keeping track and keeping up with bills a breeze!  Now, not only has it helped with getting us organized, but it also created a budget system for us which, as we know now, is the first step to financial peace (if you follow my blog, later you will read my series on financial peace based on the principles of finance guru Dave Ramsey).  So here it is!

Bill Pay Calendar

Here’s what you will need:

  • A simple desk or wall calendar (I say the bigger the better!)
  • A pen
  • Multi-colored highlighters

How it works:

  1. Gather up all of your bills or make a list of each bill along with their approximate amount or minimum payment, and write them on their respective due dates in the calendar.
  2. Make a note of your payday or paydays on their respective days in the calendar.  (If you have an irregular income, such as being self-employed, SET paydays for yourself either once-a-week or bi-monthly)
  3. Plan your bill payments. Use your highlighters to divide your bills based on your paydays. For example, the hubby & I both get paid on the 15th and 30th of each month.  Therefore, after writing all of our bills in the calendar I divide them into two bill pay groups: those bills that will get paid on the 15th of each month and those bills that will get paid on the 30th of each month.  (Take a look at the calendar pictured above to get a better idea of this)
  4. Finally, when payday comes, before spending it all on that new pair of shoes you’ve had your eyes on, or the tickets for that big upcoming concert, PAY YOUR BILLS FIRST!  Pay every highlighted bill for those weeks (or that week) and whatever you are left with is your budget for the remaining necessities like food and gas for your car, as well as entertainment.  Don’t wait until the bill is due, or until it’s too late.  Follow this system and you won’t ever be late or forget a payment again!  Hopefully it will also act as a starter budget for you as well!

CONGRATULATIONS!  You’ve now created a simple budget!  This system will become second nature to you by month #2 and you’ll be paying bills with ease!

One more stress relieved and step #2 complete!  Now go on and get started and meet me back here next Monday for Step 3 of Organizing Your Life!  In the mean time, stay tuned for a yummy recipe that you WON’T want to miss!

Thanks for reading through!

<3 Lulubell Elaine