Do you find yourself surprised by bills or unsure if you’ll have enough money to cover them each month? It’s important to remember that you’re still in control of your finances and budget, even when bills are piling up.
The first step in getting a handle on your debt is to understand what you owe. You can use this bill calendar to organize all of the bills you pay in a month. Here’s how it works:
Most people have regular obligations like rent, utilities, car payments, and insurance payments. These usually have a fixed due date and if you’re late, you’ll likely pay a fee and risk a negative entry in your credit history.
- Gather all of your monthly bills.
- Fill out the bill calendar to keep track of your monthly bills and expenses. Be sure to write down what the bill is for, the amount, and the due date.
- Put the bill calendar in a place where you can check it every day.
If you are concerned about staying accountable even after filling out the bill calendar, you might consider telling a trusted friend or family member that you’re committed to getting a handle on your debt, and you’re using this tool to do so. Having a support system can make you more likely to follow through and succeed. You can also invite them to develop good spending and budgeting habits with you.
Keeping track of your monthly expenses can help put you one step closer to reaching your goals.
Take control of your finances
The Get a Handle on Debt series gives you tools to manage your debt by budgeting smarter, paying your bills on time, tracking your spending, paying down existing debts, and earning extra income. You can also get money management strategies sent directly to your inbox by signing up for our Get a Handle on Debt boot camp.