Background:
One thing that is most important when setting up a house hold is getting the bills managed. I can speak from experience that the way we handle our bills and finances have changed a few times over the years. It is a work in progress. Our best and most current method has been to use the binder and an excel sheet which will be attached below.
The Method:
- BinderĀ Ā It has made it easy for both my husband and I to know where the bills are at. As well as a high over view of what is due for that month. We keep our bills divided by tabs with a big blank calender at the front of the binder reflecting the current month.Ā This is where i write in what bill is due and the amount for each month. The tabsĀ section is where i have the bills listed by type. An example is Water, Electric, Car Payments,Ā Mortgage, Home Insurance, Credit Cards, ImportantĀ Receipts, ect. Ā I then take the current bill and after i have written the amount in the first section file it under theĀ appropriatedĀ tab. This has come inĀ handyĀ becauseĀ it is really easy to keep track of older bills, amounts and account numbers. We like to get all of our bills via paper since it is easier for us to manage then recycle all of our papers at the end of the year.
- Excel Sheet:Ā It has made it easy for us to do a higher over view of our outstanding debt and income. AĀ strong household makes sure toĀ forecastĀ its year out to see what changes are to be expected and how to shift aroundĀ resourcesĀ If you dont know where you are, how can you know where you are going?Ā This is helpful for keeping records of account names and log in information. This is also where i am able to see how much we are bringing in for the year and how much we will be spending at time goes by. Giving us a more realistic view of what we have for free income.
Why it works:
With these two models is has made our bill management much easier on the both of us. Instead of having to have only one person understand how the bill’s work, either one of of us can walk up and reference the binder at any point of the month and know what is due when.This has also made us have continuous conversations about our bills, savings and where we need to focus our attention and resources. Which has made another part of our relationship that much stronger.
