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What are your methods for juggling bills?

October 3rd, 2011 at 05:49 pm

I'm looking for advice and would love to know everyone's situation. I have a budget that I'm sticking to but it's hard deciding when or what to pay or how long i can go without paying. Any help is much appreciated!!

9 Responses to “What are your methods for juggling bills?”

  1. crazyliblady Says:

    That's a complicated question.

    1) You should pay your bills when they are due, or preferably, before they are due.

    2) More specifically, though, I prioritize payments based on how crucial they are to make right now. For example, the mortgage gets paid on time, every time, every single month. No exceptions. For you, you may have rent. To make it easier, I preallocate the mortgage amount by subtracting it when I get paid (which is usually twice a month). Then, when I actually write the mortgage check, I make note indicating it is already allocated. My second priority are utilities because having them turned off if you have a lean month would not be good. My third priority would be credit card debt followed by other bills.

    3) Also, you may pay certain bills depending on when you get paid. For example, if you get paid twice a month and your utility bills are due say on the 20th, but rent is due on the 1st, you might find it easier to pay rent out of the first paycheck. Then, with the second paycheck, you might pay utilities, credit cards, etc.

    Does this make sense? It is kind of hard to give a one size fits all answer when one size does not fit all.

  2. Tightwad Kitty Says:

    I never had that problem and I am an age pensioner, I put aside my bills money each pension day, this 48% of each pension and I don't spend it. All bills are paid in the pension pay that they arrive in. I save it all plus save $1000 extra per year to cover any else that may come in and plus rollover $1200 each year for start each new year. Some months I may have $2500 worth others months $60 but I put away the same amount each pay so I can't help you with your problem. Check my blog, I may have posted about there.

  3. PauletteGoddard Says:

    I use a calendar.
    For payments that are to be mailed in, I drop the stamped envelope into the mail eight days before the due date, unless they are credit card payments: in that case I drop the payment into the mailbox within 24 hours of statement receipt, because I know the credit companies love to screw with us by declaring payments late.

    Otherwise for bills I pay online I use bill payment five days before they are due.

    Mortgage payments I used to be more flexible with: I would either pay them on the first of the month or by the fourth.

  4. creditcardfree Says:

    On my blog I have a page on my sidebar entitled 'How We Budget Our Paychecks'. I would highly recommend reading it. I agree with crazyliblady, with the exception that one of your first priorities each paycheck is food.

    At one point my DH was paid every week, but we had a mortgage. One weeks paycheck was not enough for a mortgage payment, so I would have to set aside money from each check prior in order to have enough when it was due. With this method we were never late!!

  5. gigglestar Says:

    thanks everyone for commenting! we get paid twice a month and i have a lot that is due pretty much at the same time. i have a worksheet that i use listing all my accounts, due dates, and to be paid dates. right now, i'm rotating my payments - wk 1 mortgage, week 2 auto and house bills, and repeat. i try to communicate with each company to let them know when payment is coming. sometimes i'm just worried what they would do if i continue with my plan and not exactly pay on time.

  6. whitestripe Says:

    I calculate the total of ALL my household bills for the entire year. basically, this is everything except petrol, mortgage, food & play money. I then divide this amount by 52, and put that amount away every week. I never spend it on anything other than bills, because that is what it is: bill money. i usually have enough in there at any given time to cover whatever is due that month.

  7. creditcardfree Says:

    If you have extra funds to 'get ahead' you could be paying mortgage out of mid month pay and utilities and other bills from the first of the month.

    Also, some companies will change the due date. Doesn't hurt to ask.

  8. CB in the City Says:

    I have a spreadsheet in which I project my spending each month, so I know what is left over after the bills. Most of the bills come out automatically. I pay my rent and my Discover bill online, but those two I have to initiate myself. I have one bill for which I have to write a check -- my rental fee for the antique booth I run.

  9. ceejay74 Says:

    I have a spreadsheet that predicts all income and expenses for the next couple months out. The top line is my current checking account balance, then I subtract pending transactions on the following lines, then I have all my upcoming income and bills listed in order of date. I've set up the spreadsheet like a ledger, so that on each line it shows what my checking account balance will be after the item is added or subtracted. That way I can tell if I'm getting close to overdraft, and can move a less-urgent bill until after a paycheck.

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