Too many bills, not enough brain space!

[cicy33]

Re: Too many bills, not enough brain space!

Well, I am the one that said about the taking more than you allot and a perfect example is this: My newspaper. I am on a monthly thing with them ONLY because it is so much cheaper. But they have screwed their system up so bad in the past year that on average at least every other month they draw out the amount 2 times. One month they deducted it 3 times. Within 3 days! Then they credit it back a few days later. But what if I didn't plan for that or my check didn't credit as quickly? then I have a bounced check. They say it is a glitch in their system that they are trying to fix. Another one: a program I signed up for and then cancelled, I had a cancellation number and they still deducted the amount. fortunately I check my balance daily on line. Boy did they get an earful. So, YES they do happen, more frequently then some realize.

[kashi]

Re: Too many bills, not enough brain space!

I have also heard of people having more money taken out of their account with automatic drafting. One person I know had their car insurance payment drafted twice from their account in one month (and not within a close time frame), and had a heck of a time fighting with the insurance company to get it back.

It's not "entirely unfactual" or impossible, BCompDude. Just because it hasn't happened to you doesn't mean it doesn't happen to others.

[BCompDude]

Re: Too many bills, not enough brain space!

Yes, it is entirely unfactual that they can take out as much as they want. Is it impossible no, mistakes happen--but that is a significant distinction. "It is true that the info is on your check but with auto withdrawal they can draw different amounts if they want too." The "they can draw different amounts if they want too". . .is ENTIRELY unfactual. . .they certainly can not legally take out "as much as they want too". They may make an error--which is not as common as you make it seem, although certainly CAN happen but to portray that by enrolling in an automatic deductible plan they can just take all of your money if it meets thier whim. . .laughable.

Also, I have personally had it happen, I just let them know about it and they recredit my account immediately. I've also had it happen where a business took out 50 dollars more than I had written on a physical check. Another where I left a check at a restaurant and left some money for a tip. . .only to have 20 dollars more taken out than what I originally intended. Should I tell people not to write physical checks because a few mistakes were made?

If there is an error in your account you can just fax/email/snail mail them a copy of your checking/savings account showing the amount/s deducted and you will get a prompt refund. In the cases of the physical check errors--I simply sent them a copy of my voided checks.

[MrsChambers]

Re: Too many bills, not enough brain space!

Whelp, I already do the bill pay as much as I can through the bank, and I like that, it helps ALOT. I Guess my problem is that I remember the bill needs to get paid on the day it needs to be paid or the day before. Then I get into this friggin FRENZY trying to get everything collected to pay the darn thing.

AGGG.

being an adult is hard work!!!

Last night I went to the bookstore and picked up this little book called "family organizer" by Amy Knapp. IT's groovy. I have already filled in the bills for next month and I put their due date 5 days before the bill is actually due, I think that will give me plently of time to mail it or bill-pay it, or forget it and then remember it... just in time. I hope it works. I have already decided that this little book will be my life-line. I will not go anywhere without it, and I will refer to it for guidance and wisdom much like a bible.

we will see

e-mail me in a week and ask me if I have my family organizer with me.

[cicy33]

Re: Too many bills, not enough brain space!

I take it that you are on the computer alot? If you have a money program on it, set up a to do list that automatically tells you when bills are due and then when you pay them you check the next date that they are due. you can set it up where they notify you several days in advance. I think that this will also work on Outlook and you don't have to use the email section of it. Outlook is included in most computer programs. but you do have to remember to open the program!

I realize that the companies cannot change how much they withdraw but they can and do frequently for me anyway, charge twice and I just don't have the money to compensate for that. Ever notice how they will take it from you lickety split but to return it takes 2 weeks sometimes!!! we literally live paycheck to paycheck. I wish we didn't but such is life. I am working on it. I would have more but then I would have to give up the IRA I am working on. and my husband's insurance.

[jaksilee]

Re: Too many bills, not enough brain space!

Like you I am struggling to be an adult with my bills and get things paid on time. Here is a articale that has a good way to file stuff.... just remember that if you don't make it your own you will not use it! So some times it takes a little while to figure out your own way using bits and piece from all sorts of ideas!

[terry1156]

Re: Too many bills, not enough brain space!

I started to "one touch" everything a couple years ago and it has saved me hundreds of hours in organizing and a lot of money. I simply one touch everything - the day the bill comes in, I send out the payment. yes, I lose a bit on interest I could have earned, but I never have to pay a penalty (which would likely happen if I didn't one touch it as it would get lost). I never spend time searching for bills anymore (ooooo, that used to eat up hours of my time). Once I got into the habit, it's like second nature and it has taken a lot of the stress out of my life.

[marglo]

Re: Too many bills, not enough brain space!

I use Mvelopes for our budgeting, we have most of our bills on auto payments which is helpful esp when traveling, and those that are not I pay online either using the billpay that comes with Mvelopes or at the companies' website. Many of our bills now come by email and with our budgeting system I can usualy pay as soon as I get the bill so don't forget it.

If you prefer to do things manually, here's a site with a good sytem for budgeting and organizing. http://www.homemoneyhelp.com/

[cercis]

Re: Too many bills, not enough brain space!

I charge as much as possible to a credit card with a bonus program. If the company charges me for doing that, I put it on automatic withdrawal. Then I watch the bills and the bank account. I also make sure to keep a decent cushion in my bank (which isn't that hard since I put so much on the credit card).

The credit card buys me an extra 1-3 weeks before I have to take money from my account and before I get charged interest. So if an unexpected withdrawal is taken from my account, I have a little time to research it and get the money back before the rest of the bills need to come from my account.

[mom-from-missouri]

Re: Too many bills, not enough brain space!

I write the name of the bill and the amount due on my office calender, which hangs above my desk. I see it everytime I sit down. ONLY BILLS go on this calender. Most my bills electronically come out of my account, except my trash service, phone and cell phone. Those I write out as soon as I get them, and put them in the envelope-BUT, I don't stamp them. instead, I write the due date where the stamp goes, and keep them in order of mailing in a small basket organier on my desk. When its time to mail them, I put the stamp over the date and off it goes. So, to review, I can look at the calender, and also go thru the basket--2 ways to check. Also, as I pay them, or as they are deducted out of my account, I highlight them on my calender, so I know its been taken care of.
Also, when I say they are automatically taken out of my checking account, I actually have them charged as a charge on my debit-charge account. It still comes out of my account automatically, but by doing it without using the pin, I get back .25% as a rebate. By having my mortgage, electric, dish, water & sewer done this way, I get back the rebate on my bigger expenses. Plus, these are also the companies that charge the high late fees, and I avoid those as well.

[tgavin71]

Re: Too many bills, not enough brain space!

To organise my bills I have a large bulldog clip that is attached to a nail in our family room. When the bills arrive I place them in chronological date order so the bill that is due first gets paid first. For regular bills that I need to pay but I don't recieve a paper reminder such as mortgage I write up my own bill on a bit of paper. Something simple like mortgage due, date, amount and this is placed in order as well.
Any automatic payments that come out of our cheque account are also written up on paper and added to the clip. Even though I don't have to these bills myself knowing when they are due to come out makes it so that don't accidentally overdraw my account and get a bank fee.
Any other items that I have to fork out money for such as exercusions and swimming lessons are also handled the same way and put on the clip.
Every fortnight when my husband gets paid I go online and pay all the bills that are due before the next pay day.

[FrugalTexan75]

Re: Too many bills, not enough brain space!

Most of my bills I pay online. Some of them are automatically deducted (car insurance, cable, cellphone, pet insurance, water, renter's insurance) and some I have to manually pay. The ones I have to manually pay - I do all of them at the end of the previous month. For example, today I set up payments for my credit card, and for my electricity.

I use the money I earned in January to pay for my bills/expenses in February. That way I know whenever the deductions come out, the money will be there. It also makes it so that I can pay any non-automatic bills at one-time.

So today when I got my electric bill (Ugh!) I went right to my computer and set up the payment for it - the money is already there in my account.

Automatic deductions and online bill paying have both been a saving grace for me. I am *terrible* at keeping track of paperwork such as bills.

I'd also like to suggest our very own Jessie's budget system - You Need A Budget. It's been a great help to me - especially in setting up a system where I'm spending the money I earned last month instead of spending money I earn this month.

[baselle]

Re: Too many bills, not enough brain space!

I started to "one touch" everything a couple years ago and it has saved me hundreds of hours in organizing and a lot of money. I simply one touch everything - the day the bill comes in, I send out the payment. yes, I lose a bit on interest I could have earned, but I never have to pay a penalty (which would likely happen if I didn't one touch it as it would get lost). I never spend time searching for bills anymore (ooooo, that used to eat up hours of my time). Once I got into the habit, it's like second nature and it has taken a lot of the stress out of my life.

I'm with terry1156. I touch the bill once and pay it the morning after I get it if I have the ready cash. I never have enough in my checking account after paying myself to even think about interest and float. Since I rarely get 2 bills at a time, it takes all of 3 minutes to do.

What helps me also is that we have a table at the doorway where we put our mail. Next to that table is the recycling box, where the junk mail goes immediately. Above that table is a corkboard where I have a couple of sheets of stamps (.37s and .02s) posted above it. Literally, I walk in, glance at the mail, pitch the unimportant in the recycling box, plunk the mail down on that table. If I have a bill, I know where it is. I pay the one or two bills on my couch, seal the envelope, go back to the table, pull my stamps down. If I decide to delay the mailing slightly, I thumbtack the newly paid bill on the corkboard right under the stamps.

I also have a free checkbook program on my PDA that I use religiously, even to the point of estimating my bills, so I know if I have to delay the mailing slightly.

[Ima saver]

Re: Too many bills, not enough brain space!

I pay all my bills by check. I have a sheet of paper that I write all the bills and the due dates on every month. They are usually the same except when an insurance bill comes in. Twice a month, I sit down and pay them, bills that are due by the 10th and the rest are due by the end of the month. After I write the bills, I take the money out of my envelopes and make a deposit to cover the bills.

[Lemony]

Re: Too many bills, not enough brain space!

My entire financial existence is monitored in an Excel spreadsheet. I pay most bills on the first of the month (payday), and the rest as they trickle in. All of them are paid online. If a company doesn't accept online billpay, I don't work with them. I don't do checks because I hate holding my breath until a check is cashed.