Our Mum Planners have Arrived!
Sorry. No data so far.
Written by: Katya on 14/11/16
Staying on top of your bills shouldn’t be as difficult as it may sound. You don’t have to be a Math Whiz or have an Engineering degree just so you can ace the financial aspect of your life. What’s important is we know how to organize – a.k.a compartmentalize – our bills so that we pay them on time and we don’t fumble around and fuss over them when the due date’s already near.
With the different innovations around to help us, paying our bills while still being organized shouldn’t be a pain in the neck. Let’s get started.
1. I used to have a hard time organizing my bills and basing my expenses on my monthly earnings. (Sometimes, trying to live within your means is not that simple! I’m sure I’m not the only one struggling with this dilemma.) If you are someone who has no idea where to start, maybe this would help: write down your monthly income including bonuses you get from tax refunds, social benefits, etc.
2. Jot down your fixed monthly expenses such as electricity, food, gas, water, rental, and internet bills. Make a second list of your variable expenses that include grocery, personal care, cell phone bills, and more.
3. Create a third list of expenses for stuff you don’t pay for on a monthly basis such as car oil change which only happens every 3 months, holiday expenses, and other miscellaneous expenses that you commit in a year. Add these expenses and divide them by 12 to find out how much you spend on those per month.
4. Add your fixed and common expenses. Again, divide the sum by 12 to help you determine how much you actually owe per month for your bills. Experts suggest that your total monthly expenditures should be below sixty percent of your monthly income. The remaining forty percent should go to your savings accounts.
5. Track your bills by marking the due dates on your calendar. Write all the details of a particular bill to make it easy for you to do a quick check and refer back to it. Mark “paid” on bills that you were already able to pay.
6. Develop your own budget system to help you save more and spend efficiently on priorities.
Do you have any tips to stay on top of your finances? Let us know in the comments section below!
add a commnent
ALL CONTENT BY MUMSYANDBUB.COM * COPYRIGHT 2016
Site designed and developed by ve people