How to Create a Bill Payment Schedule That Works for You (Never Forget a Bill Payment Again!)

Note: this Bill Payment Schedule can be found in our Money Planner. Learn more about the Money Planner HERE.

A bill payment schedule can help you stay organized and avoid missed payments.  If you’re like most families, you might have a lot of bills to pay every month. It’s way too easy to forget one or two of them, which can lead to late fees and penalties. To prevent that, creating a bill payment schedule will help you never miss a bill. (And, if someone in your family besides you pays the bills, it’ll help everyone know what bills need to get paid if someone else ever has to manage them.)  Keep reading to find out how to create a bill payment schedule that works for you and never forget a bill payment again!

So, how do you get started with making a bill payment schedule that fits your family’s needs?

First, you’ll want to get all of your bills together in one place.  Include anything you pay regularly. Here are a few ideas to help get you started:

• Tithe
• Electricity Bill
• Mortgage Payment
• Water Bill
• Student Loan #1 Payment
• Cable TV Payment
• Insurance Payment
• Car Payment
• Gym Membership

Once you have all those down, take a quick look through your bank statements from the past month or two to make sure you don’t miss any automatically drafted payments that might have slipped your mind. 

(TIP:  While you are doing this step, it is a GREAT time to cancel any recurring subscriptions you are no longer using.)

Now that was the hard part! The next step is easy peasy.  You’ll want to create a list of all those bills and recurring payments, along with their amounts and due dates, and the date they are usually paid with 12 checkboxes after each one listed.  You can use a spreadsheet, a sheet of paper, or use the Bill Payment Schedule already prepared just for this found in our Money Planner!

Once you have your Bill Payment Schedule all set up, just check off each bill as you pay it each month.  If you keep up with this task each time you pay bills, you’ll be able to see at a glance if you have missed a payment.  Now you know the secret of how to create a Bill Payment Schedule.

I know it can seem really overwhelming to see all those bills in one place, but it can also be eye-opening.  This task is simple to finish up, and the benefits of having all your bills organized into one place are so valuable!  No more missed payments due to forgetting, and you’ll be well on your way to getting those finances organized.

If you have the Passionate Penny Pincher Money Planner, open up to pages 8 and 9 to fill out your Bill Payment Schedule. (If you have the PPP Home Planner, there’s also a Bill Payment Schedule in the front few pages there, too!) Decide to tackle this one in your home today so that you can keep track of your finances all year long. I promise this one’s not all that hard, and it will be so very worth it when you’re done.

New to budgeting and don’t know where to start? We’re in the middle of our More Money Challenge, and it’s a great time to hop on board and transform your finances today!

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