Since I began revamping / improving / updating my Financial Freedom Series for 2015 last week, I cannot help but think about how much this systems has improved our lives. And how it has allowed us to not only have Scott go back to grad school – but also develop a plan to pay that debt off ASAP.
So today I am talking about whey you need a bill pay system!
1) Knowledge – I hear all the time that people do not actually know what bills they have, how much debt they owe, or where their money goes every month! I cannot imagine this. Money makes the world go round, and being clueless to your financial picture is just unacceptable. Yes in the beginning it can be intimidating, overwhelming, and down right scary – BUT it is imperative when you are an adult and have a family. Frankly, this is not an acceptable!
2) Stress – Knowing what bills are due, when they are due, and how much is due alleviates stress. Never again will a bill collector call you because you forgot to pay your credit card. Even if it means you’ll know you only have $50.00 left in your bank account until payday, it is LESS stressful than being overdrawn, receiving collection calls, or being past due on your mortgage.
3) Goal Setting– No matter how much or how little money you have EVERYBODY should have financial goals. Scott and I have big- BIG dreams for our lives. We decided that we refuse to sit idle for 26 years (the length it would take to pay off our student loans), instead we are attacking those debts head on and as fast as possible. Allowing us to dream big, and in the not too distance future make our dreams come to fruition. and I cannot wait!
4) Save your marriage – The number one cause of divorce in America is money issues. Using my bill pay systems helps ensure both you and your spouse are on the same page financially. I am the bill payer in our family. However, I love that at any given moment Scott can open our workbook and know exactly where we are on our debt snowball journey – what bills have been paid that month – which bills still need to be paid – and how much money we have in the bank. He may not like the figures, but they are all there in black and white and we are BOTH accountable! I can honestly say that Scott and never ever fight about money.
5) Saves time and money– Having all of your online usernames and passwords in a single place saves you so much time when you are paying your bills. Being clear on due dates saves you late fees, and additional charges.
I thought I would also take a minute to answer some questions I frequently receive from readers:
You say you love technology, so why do you still use pen and paper to track your bills?
~ I get asked that question or a version of it pretty often. YES! I do LOVE technology, and I think that Scott and I are pretty tech savvy and up to date with the latest advancements. Despite this I still use pen and paper instead of a fancy excel spreadsheet, or an app like Mint or YNAB. Here is why:
- We do not have a nationally recognized bank. Therefore when I have used Mint and other similar online money management apps I had a lot of difficulty syncing our local bank and keeping them paired. They seemed to always be behind the actual balance
- I find it weirdly therapeutic and in control when I am physically writing down figures, and checking paid boxes.
- I have a special trait that allows me to remember numbers. I am able to look at our bank account and easily reconcile it every morning. I am able to remember how much *down to the cent* I spent on groceries and gas last week. So it makes it easier for me …. not needing the daily updates.
Will you be offering a 2015 budget binder?
~ YES! I am working on updating and revamping it now. It will be out before the first of January so we all have time to print and get them set-up for 2015!!
If you have any pages you’d like me to include please let me know! I would be more than happy to make them.
So there it is!
If you are serious about taking control of your finances – and you want to really get out of debt, than make sure you grab this 40-page workbook – today!!