Bill is an important expense that needs to be paid in time, otherwise most categories of bills increases in amount if you pay after a due date given on the bills. Bills are paid when a service is used for a certain time period. People usually do not pay bills on time, not because they are short of money, it is because they forget.
Every time you have been late paying your bill, it is surely not because you did not have the money, but because you simply forgot about it. This is what happens with the majority of the people as they totally forget to pay the bill because they have not managed their bills with a bill payment schedule.
If you have a busy life and you want to know when to pay your bill, then a bill payment schedule is a must for you. There are various ways where you can manage paying your bill with a bill payment schedule.
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There are various ways where you can manage paying your bill with a bills payment schedule
- The first step is to create a list of all the bills that are due. Next, to each bill write the day that it is due on. If there is no due date on the bill, then you can leave it blank.
- The second step is to determine 2 days in the month that you will be paying your bills. The reason it is recommended 2 days so that you are not burdened on the first of the month. This divides the burden and allows you to allocate your expenses easily.
- The third step is to arrange all the bills by their due dates. Assuming that you get the payment on the first of the month, you so can take all the bill due on the 22nd and pay them on the 15th and on the 1st of the month, you can pay the bills that are due from 1st week until the third week.
A Bill payment schedule is used to keep track and record of each bill to be paid.
A bill payment schedule can be maintained in two ways:
An individual keeps the record in a register and maintains it himself.
- Bill payment schedule template:
In this technological era, a bill payment schedule template can be easily be downloaded from many software providing sites. This template helps to keep track and maintain your schedule online.
Structure of a bill payment schedule:
Either one writes and maintains the bills in a register, or download a good template for bills schedule, the common features of the bill payment schedule are same.
A bill payment schedule highlights:
- Category of bills like electricity, gas, telephone, internet and many others.
- Amount due to be paid for any bill.
- The due date that indicates the deadline for the payment of a bill.
- Status of the bill if it is paid or not.
On the top, the month and year of the bill schedule are mentioned.
Uses of bill payment schedule:
In today’s time, the lifestyle of every individual is very busy, so it is a good idea to maintain a proper bill payment schedule so that no bill can be missed out. The positive points of keeping and maintaining a schedule are:
- The schedule helps an individual to maintain a record of all the bills that are paid and that still needs to be paid.
- The bill payment schedule tells the person about the due dates so that it cannot be missed, otherwise, the due amount exceeds by some percentage.
- The tool ensures that payments are made on time.
- In the tool, some individuals can also add a column of the total, which gives an idea to the person that how much amount is paid on the bills for a certain month.
- The tool ensures that an individual has paid the correct amount.