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	Bill-Paying Checklist
	By Ramona Creel

Feel free to use this tip sheet / checklist as you tackle your own ""do-it-yourself"" organizing projects. If you would like to REPRINT or DISTRIBUTE this information, please click here for reprinting instructions.

• select a weekly, twice-monthly, or monthly date for handling bills
• block this time off on your calendar
• treat this with as much respect as any other appointment
• gather your supplies together before beginning
• checkbook, stamps, envelopes, calculator, etc.
• set aside a space for bill-paying
• or create a portable workstation using a hanging file box

• sort your papers in to five piles
• banking (account statements, ATM receipts, deposit slips)
• bills to pay
• payment booklets for fixed obligations (loans, mortgages, etc.)
• sales slips and cash register receipts
• all other statements (insurance, investments, etc.)
• create one folder for each stored in a rack or box on your desk

• create a file folder for each month of the year
• store your bills for that month in the appropriate folder
• or, create separate folders for each account
• store receipts and invoices for that account in chronological order
• create a separate folder for tax documentation and receipts
• charitable donations, tax payments, itemized deductions, etc.

• consider online bill-paying services
• saves time writing and mailing checks
• you are always guaranteed your payment will be on time
• bookkeeping software makes reconciling even easier
• organizes your income and expenses
• provide your accountant with a printout or file at tax time

• balance your bank statements with your checkbooks
• check each item off as you match them up
• review insurance and investment notices
• make note of any changes or unusual transactions
• put reconciled statements in a file folder or binder for that account
• write checks for your bills and update your check register
• create "expense projection" sheet instead of a budget
• list all of your payments for the month
• gives you a clearer idea of what to expenses to expect

• list out the bills that you owe
• prioritize them by due date
• make up a first-pay / last-pay schedule
• make sure to pay at least a small amount on every debt
• keep in contact with creditors to let them know your situation
• ask for help as you work to pay your bills in full

• you face eviction or foreclosure if you don't pay
• late payments are reported to the credit bureaus
• many landlords and lenders tack on a late fee
• foreclosure begins after the 3rd consecutive missed month
• foreclosures are also reported to the credit bureaus
• you lose every penny put into your home if foreclosed

• most will disconnect after 60 days
• there is almost always a reconnect fee
• you will face a delay in getting your utilities back on
• talk to provider about a payment plan if you need it

• most policies offer a 15-30 day grace period
• after that, the policy expires
• going without insurance can cost more in the long-run
• starting a new policy is always more expensive
• you may not be able to get coverage once dropped

• you have approximately 90 days before your car is repossessed
• late payments will be reported to the credit bureaus
• repossession also shows up on your credit report
• you lose every penny you have put into your auto if repossessed

• list out all of the balances you owe
• make note of the interest rate charged by each card
• pay the minimum on all cards except the highest interest rate
• pay as much as you can on the highest interest rate card
• when that card is paid, apply money to the next-highest rate card
• keep working your way down the ladder until all are paid off

• late medical payments are rarely reported to credit bureaus
• rarely any late payments attached to medical bills
• can generally continue to seek medical service, even if you owe
• contact the medical provider to set up a payment plan
• bills for local services generally not reported to credit bureaus
• most do not charge late fees and are willing to be flexible
• they need your business and can offer payment options

 

Copyright Ramona Creel, all rights reserved-- you are welcome to reprint any article, but you MUST include this resource box.

Ramona Creel is a modern Renaissance woman and guru of simplicity -- traveling the country as a full-time RVer, sharing her story of radically downsizing, and inspiring others to regain control of their own lives. As a Professional Organizer and Accountability Coach, Ramona will help you create the time and space to focus on your true priorities -- clearing away the clutter other obstacles and standing in the way of that life you've always wanted to be living. As a Professional Photographer, Ramona captures powerful images of places and people as she travels. And as a travel writer, social commentator, and blogger, she shares her experiences and insights about the world as we know it. You can see all these sides of Ramona -- read her articles, browse through her photographs, and even hire her to help get your life in order -- at www.RamonaCreel.com. And be sure to follow her on Twitter and on Facebook.

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