The Right Ways to Pay Your Bills

The wrong way to pay bills is willy-nilly, using old-style paper checks and worrying about late fees. The right way includes the steps outlined in the following heads.

Know What You Owe

Take a few minutes to set down, in writing, every bill and obligation you have. Include crucial information like the name of the biller, your account number, the customer service phone number, the payment method you use (such as check, automatic debit, charge to your credit card, online bill pay, etc.), and the bill's due date.

The template on page 8 can get you started. I've left room so that you can add other bills not listed here.

Having all this information in one place can help you in more than one way. It will serve as a checklist as you work through the rest of this chapter, reminding you of what accounts you have and when your bills are due.