Most people have recurring bills and expenses like rent, utilities, car payments and insurance. Most of these bills have a fixed due date. If you're late, even by a few days, you'll likely pay an extra fee. You may also risk a negative entry in your credit record.
Figuring out which bills to expect helps you plan to have enough money on hand. Some people find thinking ahead helps reduce the stress when bills arrive.
What to do
- Gather all the bills you pay in one month or use the information from your spending tracker, remembering to include any bills that are paid automatically
- Make a list of all your bills and start creating your calendar
- For each bill, mark the payment date
- If you're paying by mail, mark the due date at least seven days before it's due
- For in-person or online bill payment, mark two or three days before the due date to ensure you're not late
- Write down the name of the company or person you owe the money to and the amount that's due on the date the bill must be sent to arrive on time
- Enter the dates you'll receive income and the amounts you expect
- Put this calendar where you'll see it every day to help keep you on track
Download this fillable PDF to help you see how income and bills line up each month.
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This material is provided for educational and information purposes only. It is not a replacement for the guidance or advice of an accountant, certified advisor or otherwise qualified professional.