Every month I wait for my monthly bills to arrive in the mail. One by one, I open the envelopes and review the bills. Then I write down how much I owe and when the bill is due. I place the folders in chronological order so I know which bills must be paid first. I keep saying “I” but it is actually “we.” My wife and I pay the bills together. We keep the bills inside a green folder on her desk. She has a lot of papers and others items on her desk, so the “Bills folder” is quickly identified because it is in a green folder.
We pay our bills online. I set up my online payment account and it allows us to track exactly where our money is going. The monthly payment process is stress-free because there are no envelopes and stamps. We used to do this, but then my wife was hanging out at the community pool and the other moms were laughing at her. They could not believe that she was actually going to the post office to pay bills.
The direct result of paying bills with a plan is to save money. With this new online bill paying plan, I have been able to set aside savings each month. Right now we have about $2000 in our savings account. Hopefully by the end of the year we will be able to double that amount. Our children are learning how to save money also and that means they will have a better future.