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Money Management Shortcuts
5 Steps to Help Busy Parents Stay on Top of Their Finances By Cara J. Stevens
Rearrange your schedule, set aside a one-time block of a few hours where you won't be disturbed (a cup of coffee and a bag of chocolate at your side helps, too) and figure out what your monthly bills are and when they come.
If a computer-based system is best for you, money management software is a popular choice. I went a bit lower-tech and typed up expenses, due dates, account numbers and phone numbers in an Excel spreadsheet and posted it next to my desk.
"You have to know who you are and determine what is best for you," Hirshman says.
Many people, myself included, pay their bills online. I was chronically at least a few days late with most bills every month, and I was worried that consistently late bills and missed payments could affect my credit score or worse. Now I use free online bill paying from my bank, which allows me to pay bills in advance and schedule regular payments and it doesn't require a single stamp or trip to the mailbox.
Many, however, don't feel comfortable putting all of their personal financial information in one place and leaving it up to one entity. If electronic solutions aren't for you, set up a schedule where you pay bills as they arrive and then stick with it.
If neither of these ideas sounds appealing, Hirshman suggests paying all your bills with a credit card so that you only have to pay ne bill a month. She emphasizes, however, that the key is to pay your balance. "You don't want to pay late fees and interest costs," she says.
