Friday, February 17, 2012

Bills & Budgeting

So, after finishing the book The Money Saving Mom Budget recently, I have realized that I need to do a better job of managing our finances.  I used to be very organized about our budgets and bills and had a very nice system in place, but ever since baby #2 arrived, I have let everything slide.  I spent 2 hours this morning purging my office area of bills and other paperwork.  Many of them were bills that I had duplicate copies of because I had forgotten to pay them, or worse yet, used the "shut-off" notice as a reminder to pay my bill when the money had been sitting in my bank account the entire time.  I know that this is not the way that I want my finances to be, so today I decided to make one small step towards making the change.  I got rid of any duplicate bills and only kept the most recent copy so that I know exactly how much money I owe to where and was able to pay off a good part of the bills this afternoon.  The other thing that I did to help with organizing our finances was to put a new calendar next to the computer (where I keep all of our bills and do all of our online bill paying) and put all of the dates of auto withdrawals for different bills on it.  I hope that with time I will be able to get my old system back in place because it did function so well for us.  I have spring break coming up in a few weeks so I am hoping to spend that time off from school and work reorganizing a lot of things (finances included) while I have a good amount of time all together to start and actually finish some project.  Any tips on how you organize your bills and bill paying?  I'd love to hear it!

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