Active money management is essential to anyone who has long-term financial goals. Sufficient funds must exist from the monthly income to support the current household budget if future dreams are to be realized. A professional organizer might be able to organize the closet, organize your desk, your garage, or organize your office but a financial coach is necessary to organize your bills. Efforts to change the approach to paying bills each month will require some changes in habits. With some practice, any money manager can become adept at maintaining the bill paying schedule.
• Pay bills on time – Every household financial manager must decide to pay every bill on time every month. Late payment fees weigh on the budget too much to be tolerated. All bills are to arrive at the creditor’s door on time every month. This is the first step to improving the credit history, which is essential for financing large purchases.
• Organize by date – A file box with numbered dividers is a great tool for organizing bills by the due date. As bills arrive in the mailbox, the bill is to be opened immediately and placed in the proper slot in the file box. This method prevents misplacement of bills on a desk or table.
• Set payment times – Twice each month, the household money manager should spend time paying the bills that are due in the coming ten days. On the outside of the envelope, write the actual due date of the bill. Mail the bills on the day that will provide sufficient lead time for on-time arrival.
• Prioritize expenses – Essential monthly financial obligations must have a higher priority than discretionary and entertainment-related costs. Organizing the priorities will prevent budget shortfalls that cause hardship each month. Low-priority expenses can be eliminated from the monthly expenditures in favor of higher priorities.
• Live by a budget – Households that live by an established budget are more likely to reach their financial goals that those who do not follow this discipline. Organizing the bills will not create the right result if a budget is not in place to control spending.
Financial coaches spend time with people in the same way that a professional organizer does. Many questions will be asked to help the money manager organize the household finances and organize your bills. Personal preferences are considered as long as the overall effort to organize your bills is achieved. Careful timing in paying the bills is essential to optimize the household cash flow.
About the Author: Brenda L. Martinson is owner and founder of San Diego Personal Business Services, a Personal Assistant/Business Consultant company located in Carlsbad, CA. For more than 20 years, she has been in leadership roles for small to mid-sized companies in the health-care, real estate and training & personal development industries. Working with top-level executives and managers, Brenda has designed and implemented organizational and efficiency systems to help companies improve profits and optimize their people.
As a Professional Organizer/Business Consultant, she utilizes her skills and experience to assist busy and/or retired professionals save Time, Money, and Space. Brenda’s organizational systems have helped people manage the personal and business clutter of one’s life through a customized and easy to maintain process. This process includes setting up systems and gathering resources to organize and improve one’s working/living spaces.
You may reach Brenda at her website Visit San Diego Personal Business Services.