Tag Archive for: bill paying

ADHD Bill Paying Solutions

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No matter how much money is in your bank account, for people with ADHD can be a a struggle to pay your bills.  Timelines, anxiety, math phobia, and paperwork challenges all add up to ADHD bill-paying problems.  Financial documents are a nightmare because of the details, multiple steps, and lack of consistency.  Not to mention those awful accruing late fees! It is likely best to have an understanding of each strategy to bill pay and how these can help you.

 

Pay by mail and set up a bill-paying center

  • Gather together your bills, a pencil, calculator, stamps, envelopes, checks, and manilla envelopes.
  • Open the envelopes of all the bills and mark the date due on each.
  • Divide the bills to pay according to the date due and the income in your checkbook.
  • Pay your bills either every day or 7 days ahead of due date.
  • This option is best if you feel less comfortable with technology.

Pay with online bill paying

  • Set up online bill pay using your bank’s services.  You will need one bill from each utility, including your account number.
  • Open your bills each day and write the due date on the envelope.
  • Check your balance weekly.
  • Pay your bills daily and set the due date for payment according to your balance and income.
  • This option is best if you want to create automatic bill paying.

 

Pay by phone.

  • Gather your bills and statements for paying by phone.
  • You will need your account number, bank routing number, and bank account.
  • Call the payment number and give the information requested.
  • This option is best for last-minute bill paying.

 

Money Management Binder

  • Set up your binder with tabbed slash pockets. Label the pockets: To be paid, January, February, March, etc.
  • Use this Monthly Bill Manager to list your bills and how you paid.

 

Bill Manager List

  • Place all bills in the binder as they arrive.
  • Write checks and pay online once a week. Call the day Money Monday or Financial Friday.  Set a reminder or put post-it notes to help you stay on top of your weekly commitment.
  • Keep the binder in the same place all the time so you can drop in bills and keep up with your weekly payments.

 

Auto debits and other automatic payments

There are likely payments that happen automatically from your account.  Make a list of these payments and the amounts taken out monthly. It creates a visual reminder for you and keeps you on track with your money.

Big Bills to Pay

Even with a great system, big surprises happen.  Make a list of the big bills you pay at different times during the year.  Payments for property tax, insurance, and estimated tax payments occur at random times throughout the year.  Go back through last year’s checkbook and create a list of these expenses.  Add these to your recurring reminders. Set aside money each month for these large payments.

 

Check your subscription services

Many times we have subscription services that drain accounts. These are services and products we may wish to discontinue. Create a log of these by reviewing your checking account, iPhone wallet, Amazon subscriptions and credit card accounts. Make a list of these monthly fees and be sure you are using these services wisely.

 

Routines for bill paying make the difference

No matter your method, bill paying happens when you have a set time of the month or a set routine to accomplish this task. Choose when it is best for you to sit down, focus, and follow through on this task depending on the income to your accounts. If you can, choose a once-a-week time to pay bills completely. You will be much wiser in knowing what is due and when it is due. You have a heads-up about incoming, large bills. Creating a routine that aligns with your paycheck eliminates stress.

 

 

 

 

Financial Organizing: Bill Paying

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Good financial organizing requires being organized about paying bills.  Bill paying is a necessary evil for us.  It’s not fun! (It’s not fun ever!) Sometimes it’s scary because we may not have enough money to pay bills.  Sometimes it’s complicated because income comes in at a different time than bills come in.  Sometimes it’s just so much going on it’s hard to keep up with every thing.

 

We try to find the easiest way to pay our bills on time. (Paying your bills on time increases your credit score, which is linked to credit extended by banks, mortgage companies and other loans.)  There are lots of different ways to pay bills.  Choose what’s best for you.

 

Bill paying starts with a great system and routine. Think of bill paying as a process with steps.  Follow these three steps and add in your own personal touches to make bill paying easier and less stressful.

 

Step 1: Keep all your bills together

  • Gather the bills in your command center.  I recommend getting the paper bills as a reminder you need to pay them.  Bills can get “lost” in your email.  Place them where you will see them, just so you remember to pay them.

 

  • Keep a list of your bills so that you know what you pay and when you pay. If you pay everything online, this list is especially helpful to see.

 

Step 2: Establish a system that works for you

  • At times these systems can overlap, but generally find one that works best for you.  Also have one as a back up, in case there’s an oops.
  • Pay by check.  Order 2 sets of checks at a time so you always have checks.  Place the checks together with stamps, envelopes and pens.
  • Pay online through your bank. Print out the consolidated receipt.
  • Pay automatically with a bank account or credit card.  Review your accounts monthly to be sure everything is paid correctly.
  • Pay by phone. Create a list of account numbers and phone numbers for each account.

 

Step 3: Establish a routine that works for you

  • Our lives are busy! However, a routine is what keeps your bill paying from becoming chaotic and late.  Choose just one routine and practice, practice, practice.
  •  Pay bills each day as arriving.  Open the envelope and write the paid date on the bill.
  • Pay bills weekly on a certain day each week.  Consolidating bill paying saves time.
  • Pay ahead double the amount.  This can get tricky, so be sure you keep a list of how much you paid when.
  • Set a weekly time to work on money.  No matter which routine you choose, have a regular time to check your bank balance and credit card statements helps you adhere to your budget.

 

After you have completed bill paying, you can file all the bills in one box labelled with the year.  It’s the easiest, fastest way to keep up with these papers. The box can be in your office, easy to access. It’s just that simple!

 

Have some tricks or tips to your bill paying?

 

Join me on my Financial Organizing  pinterest board.

 

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