Now that you have taken your Paperwork Safari and collected all the paper-related items in your home, car, garage, purse, etc, you are ready to begin categorizing. The first step is to find all your current bills. Many folks pay bills on-line but if you have hardcopy bills, you need to find them and create a designated place for them. Once you receive them each month, you will place them in this space for safety, easy access and to serve as a reminder to pay them on time. Write the date the payment is TO BE MAILED in the top right corner where the stamp will cover it. This will help you to remember to send the payment so that arrives on time. Usually 5 business days is adequate to mail in advance.

Next, you will need to make a file folder for each bill. File all the relevant bills in this folder with the most current on the top. If find it helpful to have all the papers facing the front with the top of the pages turned to the left. This enables you to sift through them quickly if you need to find a particular document. Once a bill is paid, file it into the appropriate file folder in your filing system placing the most current bill in the front.

It is recommended that you keep monthly bill statements for one year as evidence if there is a dispute or issue.

For utility bills:  Label each folder  according to the utility.

1. Electric
2. Gas
3. Water
4. Waste removal
5. Phone
6. Cable

Then on the inside of each folder write the contact information, address and phone number, so that you will be able to access that information quickly when needed.  It is also helpful to write the time of month that the bill is usually due such as the first or last of the month.   Then file the paper work with the most current on top and then chronologically in order with most recent.  Staple all of the past  months (up to 1 year old papers) together. I is helpful to have them facing the same direction with the front of the paper facing up. Then put the most current in the front of the file.  Old paperwork that is no longer needed should be shredded.

Paying your bills on time will result in an improved credit rating and increased fiscal responsibility. You will feel better about your financial life once you develop positive fiscal habits.