I have found an interesting trend with my clients. They are afraid of the bills. Unopened bills. Seriously. They don’t’ want to deal with them so they stay in the envelope, in a pile of other mail and usually that pile moves around a few times, and eventually ends up in a bag (cleared the table for company). When the client reaches the point where their office is filled with bags of mail, I get the call, “Debbie help!”
Now let me mention that these clients are not broke, they have the money to pay the bills so it’s not like when you graduated college and feared the bills that kept coming and suddenly realized your parents were paying for a lot of intangible things. No, they can pay them. And these are intelligent people; they do complicated things in their day to day lives. So it’s not the money, it’s not the degree of difficulty. Frankly I don’t know what it is that creates this mental block about bills. But I do have a solution.
- First of all, gather them all together no matter how intimidating the pile.
- Then open them! Half the stuff in that envelope is irrelevant. Recycle or shred the parts you don’t need.
- Next, categorize them. You can do medical – taxes – utilities – credit cards – other. Or you can categorize them by company.
- Pare them down. If you have several months worth of bills, you’re going to have duplicates. Keep the latest bill from each company. With medical bills check the patient and date of service to make sure you’re really looking at a duplicate bill. Make sure it has gone through insurance first.
- If you get paper from a company and you pay them automatically on line, consider eliminating the paper bills.
- Call the company if you have a question about the bill. So you might need a “Call” and a “Pay” pile when you’re finished.
- Consider paying some bills on-line. I recommend regular payments that are the same amount or utility bills. Credit card bills and medical bills are ones that you want to look at the statement to make sure there are no errors.
- File the statements and only keep out the stub and the envelope.
- Put the bills in due date order
- Pay all the older bills that you possibly can to avoid any more late fees
- With medical bills you can often make a payment plan
- If you are mailing a check, do it one week before the due date
That clears the backlog. Now decide if you are going to deal with the mail daily or weekly. Then decide if you are going to pay bills weekly or bi-weekly. That’s the only way to stay on top of it.
Any questions about dealing with bills? Leave a comment.