So now that we are in our new home, we obviously have new expenses. Like a mortgage, we have separate heating and electric companies, garbage removal, etc. All the wonderful things that coincide with being homeowners.
So it was time for me to take a look at our bills, our budget, and create a new plan. This is how I have been tracking all of our bills for the last year, and it has worked out wonderfully. I set up this system for my husband. Incase something happened to me all he has to do is go to the binder and he will have everything he needs to keep up with our finances.
It all starts with this piece of paper:
For every monthly bill we have (Like the mortgage, car payment, heat, electric, etc) there is a corresponding piece of paper (see above). I have filled out the top portion, and every.single.month when I pay the bill I fill out the bottom half. It is a great way to keep track of where we stand on balances, or if the amount due is out-of-whack compared to previous months.
If you’d like to download my bills tracker and create your own binder click HERE. You can print off the document and fill in your personal information. OR you can click HERE and download the document, if you choose this version you will be able to type directly on the form, and then print off the sheets.
I keep all of the sheets of paper in a three ring binder:
And yes, it is easier to pay your bills every month, when you have a pretty binder to open. ; )
I do not just have my sheets of paper in the binder. I also have a folder. The folder contains the following:
- Envelopes
- Check Book
- Pen for filling out said checks
- Stamps
- Payment book for the car loan
**Pretty much everything I need in order to pay my bills…all in one handy spot!
I’ve been using this method for a year now, and I am still very happy with the simplicity, ease of use, but also how much information I have at my finger tips. Hopefully, this system will also work for some of you!
In addition to the binder, I am making myself use mint.com more. It is a free web based tool, that tracks your expenses, helps you budget, and create goals. My favorite part of mint.com is that is shows you your trends. You can see in a color coded pie chart (or bar graph) where your money is being spent. Doing so has really kicked my butt into gear in terms of our grocery budget.
We have decided that we want to start a Debt Snowball pay off plan. By God’s good grace we have never really had financial troubles, but I still feel uneasy at times. I think that if we paid off all of our bills it would really take a lot of weight from the tops of our shoulders. I’d like to pay off our bills, and start socking money away for *Greyson’s college *Our dream home *Vacations *More for retirement and have a HUGE savings account. I know it wont be easy, since extra money will be going more towards bills, then home makeover projects. (Though lets be honest, not all the extra money will go towards bills). But for now, we have enough supplies and cheap projects / makeovers that I can do without spending a ton of money. So I will be sharing how I set up a Debt Snowball Tracker soon, very soon.
But, please tell me…how do you track your bills? Do you use a binder, do you prefer the original pen-paper-and filing cabinet method, or are you 100% digitized? I’d love to know.
April Oliver says
This is an awesome idea!! I think I’m going to have to try doing this and get a handle on my bills!!
Lindsay says
April, it really works for our family. Paying bills is so much easier, its motivating to see the principal go down each month.
E-mail me if you would like me to send you the file!
xo,
Lindsay