Monday, May 4, 2015

How I Budget and Balance My Monthly Expenses

Most women would agree that spending $20 on new clothes is better than paying a $20 late fee on a credit card. A guide to organizing and paying bills, and avoiding late fees, is below:
Monthly Bill Planner

1.  Make a list of every bill you receive monthly (utilities, memberships, credit cards). Be sure to include store cards that may only have periodic bills. These are called your “payees.”
2.  Write the payment due date next to each payee. Generally a bill is due on roughly the same day each month.
3.  Sort your list of payees by due date. Invoices due at the beginning of the month at the top of the list and end of the month invoices at the bottom.
4.  Write the amount due or the amount to pay next to the due date. Be sure this amount is at least the minimum due, if not the total.
5.  Schedule the payments via online banking one day before the payment is due to avoid any delays in payment. If using checks rather than online banking, post-date and mail payments immediately. Do not hold onto the check and attempt to remember to put it in the mail.
6.  List the amount and the date paid on your list.
7.  Relax. Enjoy the peace of mind that every bill will be paid on time and the money saved from annoying late fees can be spent on shoes instead!

Bill Planner Worksheet

Once you have completed the first month of tracking invoices, print or write a blank copy of your list to use the next month!

If you need a pretty form to help keep you organized, look no further - Houston made me one (because the one I made in Word was just plain ugly) and he also made one available in his Etsy shop!
Happy finances in 2015 and beyond, friends!

This post is not sponsored, but may contain affiliate links which result in an affiliate commission. All thoughts are completely my own, as I only recommend items I personally love.


  1. Awesome! Thanks! I love the idea of post-dating a check and mailing it bi never thought to do that!

  2. So simple and effective, but something I fail to do. Thanks for the encouragement!

  3. I am so thankful that I'm alive during online banking. haha It just makes things so much easier!

  4. I'm super lazy so I just use auto pay on everything and Mint to keep track of what's left over. Direct deposit is one of the best inventions as far as I'm concerned, especially since we just have 40% of our checks directly sent to our savings account so we don't even see it.

  5. You want to be careful about postdating checks. I've worked for large corporations, like Bank of America, that don't adhere to postdates. Machines are opening and scanning the checks, they're just looking for the amount and the account. By the time a real person gets around to looking at the check to make sure it's legit (if a real person does see it, they don't look at all of them) it could have already been presented to your bank.

  6. I love this! I've done a series on budgeting, too...check it out if you'd like!

  7. Thanks for sharing, Erica! <3

  8. Auto pay is the best! I like to schedule everything at the beginning of the month and check it off my list.
    40% is an incredible amount to be saving! Good for you!!!

  9. Me too!!! Can you imagine writing all those checks every month??? And the expense of postage! woof.

  10. You're welcome! - Happy budgeting!

  11. Cori - I hadn't even thought of that!!! Thanks for mentioning it!!