Pay Right Away

Picture by Darren Kidd

The only thing bills are good for, is making you feel responsible when you pay them. Apart from that, all they do is cause headaches and anxiety. That's not something you want to deal with often, is it? So don't.
In our house, we have no bills coming in because everything is paid on the go. Yes, that includes electricity. But when we were living in Belgium it was different, of course.

What I tried there was to pay each bill as soon as it came in, and then shred it. Usually, they got picked up from the mailbox on the way home. Then it was just a matter of getting my e-banking going and voila.

Some people may try to do all their bills at one time every month, but that can be a bit of a financial surprise too. When you have all the money gone in one big chunk, perhaps it's more difficult in the weeks before that to estimate how much you can really spend.

When you've picked up a stack of bills, just turn on your computer and surf to your e-banking platform right away. Set up the payments and you're done. Now, shred the bills and never think about them again. What's done is done. You can't get the money back, so there's no need worrying about it. 
The one exception is a bill that was way too high and could have been prevented (phone-bill anyone?). In that case, it may serve as a reminder to put it up somewhere noticeable. 

One more bit of advice: if your bank gives you a percentage on how much is in your checking account, you can set up a delayed payment so as to get the most out of that. Just make sure you have enough money in your account when the payment goes through. And keep in mind the first paragraph: if all the money is transfered at the same time, it may be difficult to plan your purchases.

I like money, but I'm not too keen on doing all the financial stuff. Still, in our family, I'm the one who deals with the finances, so I would rather have it over and done with quickly. 
But the main advantage of paying right away, is that there's no risk of forgetting and having to pay the overdue fees.