Do you often forget about very important bills that you probably thought has been taking care of? Only for you to be reminded when you are low on cash. If you have ever had to say, oh! The Cable TV subscription just ended and I didn’t know it was due, only to find out you have exhausted all the money left with you. Then this write-up is for you.
The financial consequence of failing to keep your documents in order can be very significant and devastating. I recommend creating a comprehensive folder of documents that family members can access in case of an emergency, so they aren't left scrambling to find and organize a load of disparate bank accounts, insurance policies, debts and brokerage accounts etc. Also consider that in your absence your family can be wallowing in penury while they are unclaimed bank accounts and other assets unknown to them. Sometimes, insurers either forget or deliberately refuse to inform beneficiaries or relations of unclaimed life policies and benefits. However, this is not the topic of the day. Some other day, I will address it.
Here are six steps to organizing your bills without having headache and paying bills in a simple way.
1. DOCUMENT ALL BILLS
Write down details of all bills especially if it is your first time organising. e.g. amount due, date due, mode of payment, whether by transfer or you have to go to a certain place like PHCN office to make such payment. These days’ bills like DSTV, PHCN can be made via the ATM so it makes bill paying a lot easier than it used to be. You can used an excel spreadsheet to list out all the bills in the house and then group the small and (sometimes) insignificant bill into miscellaneous and others. This will help you to organize your expenses to a large extent. An example is shown below.

2. SORT THE MOST IMPORTANT BILLS FIRST
It is always advised to settle bills by prioritizing them. The most important ones come first. This will help you settle the bills that can’t wait until the next day and delay to such bills could mean either too much inconvenience or loss of usual comfort in the home. A good example is delaying the electricity bill until officials from the office arrive for disconnection. If you have to run to the office whenever the officials are at your doorstep, then you are definitely not planning your finances well. Except in exceptional circumstance, an electricity bill should come before the phone bill is paid, then the CABLE TV bills or in your preferred order. However, be careful not to neglect those less important bills so that it does not linger until you are down to no cash.

3. DESIGNATE ONE OR TWO DAYS TO RECONCILE AND RETIRE BILLS
Set out a day or two, preferably after you compile incomes for the month and expenditure to handle the paperwork session and focus on other issues. As insignificant as this might feel, a lot of times we develop sleepless nights over things that can be handled in an hour or two. Business owners and entrepreneurs can do this any time of the month, but for salary earners, one or two days after been paid are more convenient. Furthermore, if weekdays are less hectic for you, all the best but making sure it is being done is what’s important. Remember to choose what works best for your personality and lifestyle. Also, it is important to make sure that you make provisions for little or unforeseen expenses that might crop up from time to time.

4. GROUP SIMILAR BILLS TOGETHER
Put all bills into one place so it is easy to locate when it is due. For a large family, the bills should be accessible so any one could pay them off as soon as the money is available. A good example is to group utilities together e.g. GAS, ELECTRICITY, WATER, GARBAGE etc. While, CABLE T.V SUBSCRIPTION, INTERNET SUBSCRIPTION, MOBILE PHONE RECHARGE is also grouped together. Bills like TIHTE, MONTHLY FEES, STAFF SALARY etc. If you are a monthly tenant, it is easier to get 12 months worth of envelopes and stack them so they are handy, once the monthly salary is paid, you file and forward it to the landlord, caretaker or agent in charge.

5. RECORD ALL PAID BILLS AND FILE RECEIPTS
Accurate record keeping of all receipts cannot be over emphasized. Have you ever had to look for the receipt of an electronic gadget you bought only to find out that you probably misplaced them after purchase? I once had to buy a bag and name it ‘The receipt bag’, so I don’t have to search my house frantically to provide the receipt of an item. This makes you more organised with less untidy paperwork. Once a bill is paid or purchase made, the receipt is automatically filed away neatly into the bag. For the past six years, I have kept all receipts safely in that bag and it has helped me to be accountable for every penny spent or utilized. I even have a photocopy of all my school fees receipt from year one to date (LOL). This has rubbed off on my kids who also ensure they do not just squeeze or tear off any paper in sight.

6. ENJOY LIFE BUT LIVE WITHIN YOUR MEANS
It is of no use living like a Dangote when you have nothing in your bank account and no assets to fund the life style that you portray. It is good to want the good things of life, but it is wiser to have a good amount of savings and investment before spending lavishly on luxurious items. Remember; always follow your instincts when it comes to organizing your finance and if these methods don’t work for you keep trying until you find the method that is tailored for you.

Courtesy: Frankie

Thank you for reading. Please drop your comments below and have a great day.

Yomieluv: I have noticed am a die hard fan of success,I do everything to achieve it,can't afford to be poor.

Poverty is by choice.

I just read your comments and You sound like a Yomi I know.

Nice one. thanks.

Jarus:
Good contribution. Thanks.
These things are subjective. There is hardly any perfect answer to interview questions.
I just feel it is more dangerous to say yes, I'll quit.
But I see wisdom in your approach nonetheless.
Our friends here now have two options and can decide which one they are more convinced to suit their purpose.
It's good to have options to interview questions.

igbonla:
Jarus, I love this thread but think you are off on this one. There are lies and there are lies, the route you suggested above could be interpreted as a dumb lie that portrays the applicant as a dishonest fellow. I sent one guy off from an interview for one of those dumb lies; any lie that tend to show that those on the panel are either foolish or lacks simple understanding of life situations will cause you more trouble than expected. Seriously, many members of interview panels that I have been on will even give you some coaching based on your response and outlook.
I would recommend something simple like "As much as it may not be good for my career development, it is an offer I will be tempted to consider due to the financial inducement. However, my decision will not be based only on the salary but also on other factors such as opportunities for growth". Go ahead to give example, like how long it takes to be a partner in a popular audit firm compared to being a Manager in Shell. The audit firm also provides better opportunities in terms of meeting different kinds of people across the many clients organization. Finish it up by saying that translates to big money on the long term.
Playing smart is very important when under tension to win that job.

Nice post @ Op. Totally agree with Igbonla on this.I think it's really funny that in a 100 C.V's for a vacancy, about 90% are similarly worded. I have attended just one interview after graduation and I got the job. However, I would like to be prepared for future interviews that are impromptu as I don't usually have time to prepare even if I know am qualified for the job. Can U coach me please, I would appreciate if you can, kindly send me your email so we can talk. Alternatively, at your request I could send you mine.

In my Opinion, the sponsor of this bill has a lot to do to ensure that the Amendment of this bill doesn't create more problems than there is now. Casualization is practised in many countries till today, but in Africa, we abuse every thing. Casualization can be made less attractive by totally removing Outsourcing by individual companies and making a casual/contracted/seconded or third person personnel staff earn more than a permanent or regular staff. Also, in the event that the services of the worker is no longer required, and proof is shown that such worker was very diligent in discharging his duty, his terminal benefit should be such that can sustain such worker until he gets another job. I believe dis would go a long way in solving the problem of casualization. No longer should Nigerians be discriminated, segregated or treated like slaves in their own country. Experts in labour law should sit down and draft clauses that will make it almost impossible for employers to take advantage of workers in their establishment. Furthermore, this bill is to regulate casual or contract workers and not totally eradicate it as some persons would think. The time duration before a casual worker is regulated is very reasonable but the lacuna in this bill is very obvious.

However, the government should do more and create the enabling environment that would help employers of labour e.g Electricity, good roads e.t.c rather than make policies that cant be sustained in the long run.