5 Tips on Handling Multiple Bills

Stress can be caused by the daunting process of handling multiple bills, and the continuous pile up of these bills if you’re not readily prepared for them. We have compiled a list of methods for handling these multiple bills so you can stay at ease and deal with whatever other things life may throw at you! Staying in control is the number one tip we can give to successfully managing multiple bills.

Tip 1: Turn your multiple bills into one

• We all have bills, lots of them. Whether they are for credit cards, cell phone bills, rent, mortgage, utilities, car payments, internet and TV bills, they can all add up fast and it is easy to let these payments slip. From this point it is easy to get behind and for interest to add up on these multiple bills – where you end up spending more than you even intended to. A debt consolidation loan can help you get back on track and pay off what you owe, helping you save money in the end and save on interest – all in one single, affordable payment. Learn more about a debt consolidation loan from AAR.

Tip 2: Combine your payment dates

• Chances are all your payment dates may be scattered, and not all on the same day. This can make things very confusing for you and make it easy to miss a payment. If you contact your representatives at the different companies you work with, you can adjust your due date for your payments so that they are all in sequence and it is easier for you to remember the dates the payments are to be made. If you provide notice, the company can change the day your payment comes out to soon after your pay cheque comes in, this will ensure there is money in the account and your payment will be taken on time without any extra fees.

Tip 3: Stay On Track and Organized!

• Life can get busy at times, and dealing with multiple bills on top of that can become overwhelming and its easy for a bill to be misplaced and forgotten. In order to stay organized, dedicate a place or drawer for bills to be placed so that you are always aware as to where your bills have been placed for your own reference. A big tip that will help you is if you organize your bills in the order they need to be paid, and if you check in on them regularly so make sure that you are on top of things!

Tip 4: Set up a dedicated “bills” account

• Many people already have separate accounts for their spending and savings, but a trick we have learnt is that adding a third account just for your bills. This account can be used for you to deposit your money for bills and you can pay your bills from, and transfer the rest of the money to your savings account for home expenses and other expenses you may have. This way you won’t miss a payment and won’t incur any extra charges as those payments will be taken out from their own dedicated account.

Tip 5: Utilize Apps

• Whether you are using an iPhone or a Samsung phone, there are many apps out there today that help in keeping you on track with your monthly bills and expenditures. With these handy apps, you are able to take advantage of many different features such as:
  • Checking your account balance
  • Transferring money
  • Paying bills
  • Budgeting tools
  • Seeing your recent transactions
  • As well as mobile cheque deposit.
• We will discover the best apps for different phone users and compile a list of our favorite in our next blog post!

These changes will become habits if you stick with them, but we assure you that with a regular money management routine will help you in saving on interest as well as staying organized with your bill management and relieve some stress you may have! Who needs extra stress on top of everything else life has to offer?