How do you keep track of your bills?

[master_shake_]

wife takes care of everything except for internet...

that's me

 

[boomerang]

I wonder how many of you that live by autopay don't even look at the bills either. Good way to pay bogus extra charges like cramdowns, etc.

Nobody watches my money any closer than I do. I look at every bill, and I look at my CC activity online at least once a week. I have set up notifications through their website to tell me among other things if a charge hits above a certain limit. I also receive notification of charges that are made without the card being physically present. I use autopay for convenience just as I use credit cards for convenience. That doesn't mean that I go through life blissfully unaware of where my money is going. Far from it. So, no need to wonder about me.

 

[MongGrel]

Nobody watches my money any closer than I do. I look at every bill, and I look at my CC activity online at least once a week. I use autopay for convenience just as I use credit cards for convenience. That doesn't mean that I go through life blissfully unaware of where my money is going. Far from it.

My wife does that.

 

[wangotango]

I simply go to my desktop on the 1st and 15th of every month and schedule the payments on the due dates unless they fall on a weekend, if weekend day, I pay it on the Friday before that weekend. I never print out confirmation receipts, I print them using print screen key and save them in folders by company. They are jpeg. On window based machine, you can do the same or print them as .xps document and save to folders. I look at every bill to verify. Never pay late fee or interest on credit cards.

 

[alkemyst]

Here is an example of my spreadsheet.

Sheet 1
Statement_Date | Type_of_Transaction | Date_Posted | Date_Made | Place | Amount | New_Balance

Sheet 2
Item | Amount | Balance | Due Date

I built this way back in the early 90's as part of a spreadsheet class (I was using Lotus 1-2-3 r2.4 I believe and expanded it as I needed.

Sheet 3 is all my credit cards/loans and installments. I have columns for what the due dates are, interest rate, minimum payment, my payment, how much goes to interest, how much goes to principal, new balance and finally a column that lists dates and any changes to my interest or limits (like 3/8/12 rate lowered to 8% (by vendor), 4/5/13 limit increased to $7500 (by vendor), 5/2/13 rate lowered to 8% (by request). For things that are installments / loans I put sections for the amortization below this.

Sheet 4 is all closed accounts with the same information as Sheet 3 and with a new column, closed date and reason.

This is an example of Sheet 2, I didn't list my real income. I keep all my cards listed and if I know I have used them I will update with what my payment would be. Since this is for December, I have a few once a year payments I make for my alarm and my sirius radio.

The easiest way to build this is to figure out what paydays you have, what the cost for gas and your food/play money is and map that out. Then fill in the bills and due dates for the first month. Copy and paste those in so the due dates are at least the day before the next paycheck. I build a year and then update every six months to make sure I have 12 months of running total. I delete items off Sheet 2 once they make it to Sheet 1. I update Sheet 3 as I pay my bills on that list.

It's not going to let me format this right here, so just copy and paste in to a spreadsheet.

[font=courier]
Item                   Amount        Balance       Due Date
1-Dec	                  $0.00            #REF!	
Gas	                -$250.00         #REF!	
Food and Misc	-$500.00         #REF!	
Gym                  -$37.09           #REF!             1
Mortgage	-$2,200.00	#REF!	1
Citi - xxxx 	$0.00	#REF!	1
Sears 	$0.00	#REF!	1
School Loans	-$116.91	#REF!	1
Citi - xxxx	$0.00	#REF!	1
Citi - xxxx	$0.00	#REF!	1
Capital One - xxxx	$0.00	#REF!	1
Dropbox	-$9.99	#REF!	1
Discover - xxxx	$0.00	#REF!	7
First National - xxxx	$0.00	#REF!	7
American Express - xxxx	$0.00	#REF!	9
Citi - xxxx	$0.00	#REF!	10
Pay - 12/12	$5,000.00	#REF!	
Gas	-$250.00	#REF!	
Food and Misc	-$500.00	#REF!	
Attorney Fees	-$300.00	#REF!	15
Electric	-$350.00	#REF!	19
Verizon Reimbursement	$140.44	#REF!	19
Mazda	-$446.61	#REF!	20
Buy.com	$0.00	#REF!	22
Comcast	-$190.09	#REF!	24
Aquasana	-$8.00	#REF!	25
Pay - 12/26	$5,000.00	#REF!	
Cancer Policy	-$8.90	#REF!	26
Citi - xxxx 	$0.00	#REF!	26
Gas	-$250.00	#REF!	
Food and Misc	-$500.00	#REF!	
Auto Insurance	-$299.09	#REF!	27
Sirius Renewal	-$150.00	#REF!	27
Verizon	-$328.48	#REF!	27
Water	-$125.00	#REF!	30
Alarm Renewal	-$257.00	#REF!	30

[/font]

 

[alkemyst]

That's an interesting position to take but one that is very outdated. There are a slew of good reasons for paying bills from a savings account.

The biggest one in our current climate is debit card fraud. Why keep a large sum in an account that could potentially be compromised? We seem to hear of a breach every few weeks.

Few people actually write checks anymore. The Federal Reserve, for those not aware of who is dictating this policy, needs to get with the times. Why essentially require people to have a checking account to meet some outdated thinking? Money is money. What account it is in is immaterial. Having a savings account for those that are savvy enough to save does not drive the actual saving, that comes from a desire to accumulate funds. Those that see the value in that will do it regardless of the title affixed to any particular account.

The Fed is run by old guys that think in old ways. It's time for them to move from the days of the typewriter to the keyboard. If I exceed six debits for three consecutive months my bank tell me that they must close my accounts. What kind of bizarre policy is that? Who benefits from it? I've received one warning letter in the past.

I'd like to utilize my accounts in the manner I desire without some quasi-government agency dictating to me how it must be done. I don't think that's too much to ask.

Just sayin'

When people are talking savings vs checking, many times they are refering to whatever they are 'saving' they don't touch for bills and whatever is in 'checking' is free game for expenses.

The Federal Banking policy is very complex and I agree bullshit. I can no longer have someone deposit cash for me at Chase/JP Morgan unless I am there. They can deposit it into their own account and do an instant transfer.

They are cracking down on money laundering (so they think).

 

[boomerang]

Just sayin'

When people are talking savings vs checking, many times they are refering to whatever they are 'saving' they don't touch for bills and whatever is in 'checking' is free game for expenses.

I hear you and you hear me. I think we both get the bigger picture. I recently bought some furniture that resulted in a CC bill that month of over $4400. The bill got paid in full through autopay and it was from my savings account. Was I "saving" to buy that furniture? I guess that's open to interpretation. The point I'm making is that if one is saving money, is it never to be spent? If I accumulate money in an account with the goal to make a purchase that I don't make on a regular monthly basis such as furniture, a down payment on a car or perhaps a vacation, the account is just a vessel to hold the funds temporarily. There are a lot of ways I can deal with money but having to have a second account from which to pay bills through modern methods is undesirable for me. But I am forced to do so.

You touched on some of the reasons the Fed has instituted Regulation D and I'm glad you did. I would suggest anyone interested to research it a little further. I just feel that the limit should be raised to 8 or even better 10. Let's bring these guys at the Fed into the modern age kicking and screaming if necessary. That's a joke because they don't have to answer to us - at all.

In closing, as of 2012 10 million households in the U.S. didn't even have bank accounts. I wonder what the stats are on households that don't have savings accounts? I'll bet it's a staggering number.

 

[highland145]

Just sayin'

When people are talking savings vs checking, many times they are refering to whatever they are 'saving' they don't touch for bills and whatever is in 'checking' is free game for expenses.

The Federal Banking policy is very complex and I agree bullshit. I can no longer have someone deposit cash for me at Chase/JP Morgan unless I am there. They can deposit it into their own account and do an instant transfer.

They are cracking down on money laundering (so they think).

dafuq? That's idiotic.

As far as the $$ laundering, TD closed down the business account with no explanation so I'm "assuming" operation choke point. What this means is that I haven't deposited a dime in cash (only checks/money orders) at the new bank because I don't want any flags to cause it to be closed too. So I'm holding a lot of $$ in the office and paying all of my loans with it.

My software makes it impossible for there to not be a paper trail so I can't take out $$ and not be caught by an audit. Many that fall under operation choke point don't have this problem. I hope they avoid as much taxes as they can.

 

[boomerang]

dafuq? That's idiotic.

Yeah, that has the potential to bite me on the ass early next year. I collect on a note monthly and the purchaser makes deposits into an account for me when I am out of town. The problem is that I have auto debits out of that account - transfers to an investment account.

But...the account is not held with a national bank which has its good and bad points. Typically the national's adopt all the "cool" stuff first. Things like large minimum balances and requirements for auto deposits to keep their fees low. Niiice. Until they go national I should be good.

 

[highland145]

Just have her put it in the night drop.

 

[Exterous]

dafuq? That's idiotic.

I thought that was a bit weird. The daily cash withdrawal via ATM card is low too - only $500 per day total. This was even the case for their top tier checking account that requires a $25,000 commitment to chase to avoid fees.

I just opened a checking account there and they ask a bunch of new questions if you expect to make or receive wire transfers. Thank god I don't expect to make any international ones as there was a separate section for that that I imagine gets quite involved.

 

[highland145]

I just opened a checking account there and they ask a bunch of new questions if you expect to make or receive wire transfers. Thank god I don't expect to make any international ones as there was a separate section for that that I imagine gets quite involved.

There's a separate agreement for that. Had to sign one so I could wire $$ for my new Russian bride.

 

[Squeetard]

I do all bills except credit cards with auto payments.

Yep, and I have reminders in my smartphone when Visa payments are due.

 

[alkemyst]

dafuq? That's idiotic.

As far as the $$ laundering, TD closed down the business account with no explanation so I'm "assuming" operation choke point. What this means is that I haven't deposited a dime in cash (only checks/money orders) at the new bank because I don't want any flags to cause it to be closed too. So I'm holding a lot of $$ in the office and paying all of my loans with it.

My software makes it impossible for there to not be a paper trail so I can't take out $$ and not be caught by an audit. Many that fall under operation choke point don't have this problem. I hope they avoid as much taxes as they can.

It is. I am not sure how 'Girl Fridays' will be able to bring the business checks and cash on the way home for deposit unless they are listed on the business account (something I wouldn't want to do personally).

It's not such a big deal for me currently as almost all my income is through auto-draft, however; time to time I am travelling and I get cash as a gift or getting reimbursed for something I fronted.

The work-around (and trust is needed) is to allow someone to deposit it into their own accounts and then do a free transfer into mine.

I doubt this is really solving much problems, it's just going to force those doing things illegally to store their own funds in a safe.

 

[alkemyst]

I thought that was a bit weird. The daily cash withdrawal via ATM card is low too - only $500 per day total. This was even the case for their top tier checking account that requires a $25,000 commitment to chase to avoid fees.

I just opened a checking account there and they ask a bunch of new questions if you expect to make or receive wire transfers. Thank god I don't expect to make any international ones as there was a separate section for that that I imagine gets quite involved.

It has to do with wire transfers from people YOU MAY NOT KNOW.

That's another loophole people use.

"I received $25,000 from a total stranger, I am assuming it's a gift" or "I wired $10,000 to Prince Numnuts in Nigeria because his family was going to be killed, I need to be reimbursed!"

I used to do international transfers all the time due to my ex-wife still having business/family in Japan plus them wanting to wire money at times for gifts/special occassions instead of buying the item and spending a fortune shipping it.

As long as you validate you know the parties sending and receiving it's not an issue.

 

[alkemyst]

Just have her put it in the night drop.

That only works if you don't need funds immediately into the account.

There is talk that night drops will be replaced entirely by a system that requires you to electronically do it, much like an ATM.

I wouldn't be surprised if in the next year many night drop/ATMs become one larger device.

 

[IronWing]

I just see where they took my repo-ed truck and I'll know which bill to pay.

 

[highland145]

I doubt this is really solving much problems, it's just going to force those doing things illegally to store their own funds in a safe.

This. I'm legal but I'm not depositing cash if I can avoid it.

 

[highland145]

That only works if you don't need funds immediately into the account.

If he needs it that quick, there's a problem with his cushion.

 

[alkemyst]

If he needs it that quick, there's a problem with his cushion.

I am supporting 4 dependents. They don't have credit cards. There has been occassions where they had multiple emergencies and I had been traveling heavily. My checking account was already close to depleted so I would cover it and they'd throw the cash into my account.

I do not have any big credit cards right now due to my mortgage fiasco.

This is a rarity for me.

 

[Red Squirrel]

If he needs it that quick, there's a problem with his cushion.

Yeah I never understood people like that. You should always have a credit line or other source of immediate credit for emergency situations. Of course having an emergency fund is even better but sometimes that's not feasible. A credit line is pretty easy to get. It's practically like opening a bank account. Everybody should at very least have a small one. You don't need to draw from it and just keep it at 0.

 

[alkemyst]

Yeah I never understood people like that. You should always have a credit line or other source of immediate credit for emergency situations. Of course having an emergency fund is even better but sometimes that's not feasible. A credit line is pretty easy to get. It's practically like opening a bank account. Everybody should at very least have a small one. You don't need to draw from it and just keep it at 0.

Unless you have a mortgage company that misreported your payments for 3 years and had all credit that is significant dry up.

However; the reality is one should have an emergency fund that is not credit based.

That said, it's still possible to burn through a freaking ton of cash in a single day/few days due to train wrecks or bank errors.

One of the major events that I needed someone to deposit cash into my account was over an auto payment being taken out of my account over 20 times and I was stuck while they had to still verify it and trying to buy a plane ticket home.

 

[RossMAN]

http://www.wheresgeorge.com/

 

[s0me0nesmind1]

Here is some general tips as I have worked my way through life I have adapted a lot recently. This has been due to a job that has consumed my life a lot more (50+ hours), as well as recently having a wife that has taken more of my time, as well as added more transactions. So I've had to grow accustom to some things...

1) Documentation - Scan and save E-V-E-R-Y-T-H-I-N-G. Yes. Everything. I have every statement from everything I have dating back to when I started collecting. Most I simply collect the statements online

Why? This will be your backup in case shit goes down-hill in my later tips. Most crucial documentation being contracts and such, but proof such as statements are just as important to easily retrieve without having to rely on your bank having them for you.

2) Auto-Pay - I don't fucking trust these pieces of shit to accurately charge (because they are dumb as a box of rocks and will try to nickel and dime the shit out of you). Funny, they can fuck it up in ways that screw you over a million times but never in ways that are in your favor. That said, I have way too much shit to keep track of to worry about paying a $30 gas bill, or a $40 internet bill month-to-month. It's simply too much time to be worth it.

3) Credit Cards - Chawwwwwwwge it. Whats that? You want to know to do? You Chawwwwwwwge it. It doesn't matter what the case is, you should charge 99% of your purchases in life.

50% is for the rewards (I've cashed in about ~1k+ from my general day-to-day transactions this year). 50% is for the security. The security is the fact that the credit card company is the one whose balls are in a vice when a transaction goes corrupt (IE: Company charges too much, fraudulent charge in general, taxi cab driver overcharges you). It's the credit card companies money that was screwed over, not yours. That means they will do the fighting for it.


That brings me to my last point...

4) Money Managers (Mint being the most well known) - Like I said, you don't have time to check all your bill websites, so you simply check 1 website. 1 App, etc.. etc.. Scroll through your daily transactions and you can always (at least for me) tell if a transaction is off or not. It's not hard to tell. Obviously you can't get your transactions onto Mint without them being Credit Card transactions, so Point#3 stands.