LORNA LEIGH LANE

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Organise your money: Day 1 - list your bills


Do you devote regular time to managing your money? June is a great time to set up some good money habits so you can start off the next financial year with a healthy finance plan ready to go. So follow along with this series and by the time 1st July rolls around, you’ll be ready to begin the year off on the right financial foot.


First things first, get yourself a binder to collect all of your paperwork. Over the next week, I'll be giving you free printables to help you set up a budget and spending plan for the next 12 months, so you'll need a place to keep them all together. You can begin by printing a cover page for your binder.


Next, gather together information about the bills that you pay regularly. Collect your paper bills and look up the bills that have been emailed to you. Go through your last three or four bank statements and make note of any regular bills you see appearing. Think phone bills, council rates, rent, insurance, gym membership etc.

Now it’s time to print out your next free printable: Our Monthly Bill Schedule. Here you need to list your monthly bills. That is, the bills that you pay once a month, every single month, regardless of the payment method.


Ideas for your list include:

HOUSING: Mortgage | Rent

TRANSPORT: Car payments | Green slip | Rego

UTILITIES: Phone | Internet | Electricity | Gas | Water rates | Council rates

INSURANCE: Life | Home | Car | Health

ENTERTAINMENT: Pay TV | Other entertainment subscriptions

EDUCATION: School fees | Extra-curricular fees and memberships

PERSONAL: Gym memberships | Subscriptions

DEBT REPAYMENTS: Loans | Credit cards

Armed with this information, complete your Monthly Bill Schedule as follows:

DATE: at the top right of the page, write the date this form began (eg: 1 July 2018)

DUE: enter the date the bill is due (eg: 12th or last)

BILL: the name of the bill (eg: Telstra)

NOTES: anything else such as which account it’s paid from or if the bill payments will end on a certain date

ACCOUNT NUMBER: your account number or name with that supplier, if there is one

USERNAME: if you have one for your account with that supplier

PASSWORD: if you have one for your account with that supplier

METHOD: how you pay the bill (eg: direct debit, bank transfer, cash)

BALANCE: as at 1 July, if there is one

AMOUNT: the amount that is paid each month if there is a set amount; or if there isn’t a set amount, you can leave it blank or put an average amount

Calculate the totals at the bottom and step one is complete!


Next you need to print out your next free printable: Our Non-Monthly Bill Schedule. Here you need to list your regular bills that you pay weekly, quarterly, bi-annually or yearly:

DATE: at the top right of the page, write the date this form began (eg: 1 July 2018)

CYCLE: write here how often you need to pay this bill (eg: quarterly)

DUE: write when it’s due, if applicable (eg: Mondays or Feb)

BILL: the name of the bill (eg: life insurance)

NOTES: anything you need to note such as the account from which it’s paid

Finally, write the amount that is due in the appropriate column. Done!

Tomorrow we’ll create a register to track your bill payments to make sure you don’t miss any.

Happy money planning!.

Loloma

#Australia #organising #timeblocking #budgeting

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