Most of the late bill payments are not caused by limited budget but because one forgets the bill schedule.
For a freelancer who has a couple of other stuff to think of, paying bills may be left behind. Bills already passed due can cause a terrible financial chaos. It indicates—as well as results to—poor money handling capability of an individual. If you are the type of freelancer who wants to save as much dough as possible, managing bills wisely will increase your chance in achieving your goal.
Monthly bills are inevitable for an individual—like you—who wants to live life comfortably. Electricity, internet and cable subscription are just some of the commodity this present era offers. Unless you can live life without these comforts, you should expect bills every month. A freelancer managing his or her bills wisely can prevent sky-high interests brought forth by penalties. And getting the right steps in managing your bills can dramatically decrease chances of having havocs in your financial budget.
Here are the steps in managing your bills.
- Create a list of your bills. A list simplifies and hastens everything. It allows you to make most of your limited time. Also, it prevents already due bills from landing onto your desk. By having a list of bills posted, you can be always reminded to pay your bills ahead of time.
- Dedicate 2 days per month to pay bills. If you get your pay check every 15 days, it’s best to commit the day after to pay your bills. This allows you to not just fully see your net income but also prevent you from procrastination when it comes to paying your bills.
- Arrange bills by due dates. Divide your bills according to their due dates between your two dedicated days. You can also consider the location of the payment centre for each bill. Arrange them in a way that it will hasten paying bills, saving you not only money but also time.
- Calculate monthly payment for each bill. Accumulated bills by the end of the month can really ruin your financial standing if not properly planned. Find ways to alleviate the burden by dividing the total payment for each bill in two. Say if you’re receiving salary bi-monthly, you can set money half of the total monthly amount of your bills. This will lighten the weight of paying your monthly bills.
Bills are the most overlooked financial responsibility of a freelancer. If you can manage your bill payments wisely, you can pay less and save more.