Using a monthly bill payment log like this one, also helps you see how much spending money you actually have for spending, after your bills are paid for the month. If you are prone to spending and have a hard time keeping cash in your account from when you get paid until your bill is due, getting the money out on payday will help keep your bills paid and your spending under control. Benefit #2: It keeps the money from disappearing. If you keep everything together with just a consistent few days each month where literally the money comes in & goes out same day, you’ll have a clear picture of your real monthly financial situation. Having to take out each bill and grab your checkbook or get on the phone, or sit at your computer & pull up your account, for each day each of your bills is due is TOO MUCH WORK. Your rent is due the 1st, your cell phone the 5th, your electricity the 17th, your car insurance the 12th, your internet the 4th ……. Finally, start saving money and recording it gradually.Paying your bills by pay day (especially by using a monthly bill planner/organizer like this one) gave me some MAJOR benefits: Benefit #1: It drastically reduces time spent on having to come up with a system to remember when your bills are due and actually paying your bills.Then print it out and stick it on your clipboard.(Or probably cut from your other expenses). It'll automatically change the rest of the numbers below to get you an idea of how much you'll need to put aside each month. This establishes a sense of organization as well. Sitting down at a designated spot every single time it is time to pay bills creates an important routine. Enter the amount you want to save eventually. This tip is especially good for bills that require checks or money orders for payment.Download and open the template in either Microsoft Excel or Google Sheets.Update your spreadsheet as payments leave your accounts and bills are paid. The best accounting programs give you a clear visual of all checking and credit accounts from a central dashboard. You can use it to save funds for your children's education, or probably something expensive that you always wanted to buy. Use payment tracking software to ensure that your payments are sent out automatically. And how much money you'll need to save each month to finally reach that goal. It'll help you set a final goal-the amount you're willing to save for yourself. Something to manage how much you should save each month and to keep you on track. Considering you're trying to keep yourself from unnecessary expenses, you should also have a savings tracker. By now, you've got a lot of different expense and income trackers.
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