OT - Paying bills on time - Whats your system

[marty56]

Until I entered a DMP, my bill paying system was never late but random and I had no control over spending and didnt know how much money I was spending and I was always running out of money

The DMP forced me to make a budget and I used the following method:

1.  I created a spread sheet that had a column for each payday (I am bi-weekly).  I added a row for each bill.

2.  I used online billpay at my credit union to schedule the bill to be paid on the dates that I got paid and would insure that the date was always before their due date.  In this way I was only paying bills twice a month which made it easier to manage.

I was able to see what my early budget  looked like and because I was paid bi-weekly, I would also see what months, and how much extra mondy I had each pay check.

I was amazed at the extra money I was able to find not to mention the bills getting paid on time.

Even though I have finhsed my DMP, I will do this the rest of my life.

Please share your ideas here so maybe we can help someone who is having problems managing their money.

[MidnightVoice]

I decided the best thing to do was to spend less than I earn 

I would like to replace my 21 year old Microwave, but it works.  Ditto the 20 year old stero.  Ditto the 12 year old car.

I would love some more toys, but I can't afford them.  I would love to travel more, but I can't afford it.  My family is better off if I put money in a 401K rather than into a big new flat screen TV

[cobra19]

Midnight...............Your system is the best one.

[Anonymous]

Midnight, run that car into the ground!  That should be the american way...instead of getting flashy new toys every few years.

I wish people would try to get all the use out of what they have.

[Tuscani]

I am guilty. I always have the lastest\greatest tech toys. And I lease so I can get a new car every few  years.

[MidnightVoice]

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Tuscani wrote:

I am guilty. I always have the lastest\greatest tech toys. And I lease so I can get a new car every few  years.

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Ah, but you are rich 

[Tuscani]

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MidnightVoice wrote:

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Tuscani wrote:

I am guilty. I always have the lastest\greatest tech toys. And I lease so I can get a new car every few  years.

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Ah, but you are rich 

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I am rich bitch!

[fused]

[Anonymous]

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Tuscani wrote:

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MidnightVoice wrote:

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Tuscani wrote:

I am guilty. I always have the lastest\greatest tech toys. And I lease so I can get a new car every few  years.

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Ah, but you are rich 

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I am rich bitch!

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You are just like my mom.

She has a $400/month lease.  She's currently on a 06 nissan maxima.  She can't wait to trade it in.  She's like Mariah Carey.  Total diva.

[Anonymous]

When I receive a bill, I immediately pay the minimum amount due.  Then I schedule the balance to be paid about 3 days before the due date.  So if anything gets messed up with the second payment, at least I've covered myself by paying the minimum on time.