5 Simple Tools to Declutter your home finances

by Katrina - The Organised Housewife

This post is sponsored by BPAY View

I love how today’s technology is constantly changing, some find it hard to keep up, but I like that some businesses and organisations are trying to run paper free.  Our school only sends correspondence through email, the kids don’t bring home any paper notes and many businesses are sending our bills via email if we choose this option.

When I purchased my last phone, I thought I would do the right thing and ticked the box to receive my bills via email and whilst I was really happy to get my office on tract to being paper free, this was an epic fail on my part.  My bill soon became lost in the 1000 odd unread messages in my inbox, it’s no secret that you all know I can’t keep up-to-date with my emails. Sadly there were two occasions that I failed to pay my phone bill and received late payment fees. Something needed to change pronto.  This is how I learnt that BPAY View could help me eliminate the likelihood of forgetting a bill and receiving late fees again.  You will find below the easy steps to settig up your bills with BPAY View.

5 Simple Tools to
Declutter your home finances

 

1. Think Ahead

Divide large bills (such as rates, electricity, car rego) into weekly, fortnightly or monthly amounts.  Schedule recurring BPAY payments to spread the cost of this bill across a period of time, rather than a huge bill which usually comes at the wrong time of year, like just after Christmas. Ultimately when your bill is due, you would of already paid off most of it.

2. Eliminate Paper Clutter

Decluttering your home from bills lying around in draws, on the fridge or pinned to the corkboard is the best spring clean you can have. File what you need throw away what you don’t and keep only the essentials. Even better eradicate paper bills completely by receiving them through BPAY View, if you can.

What I really like about BPAY View is that I don’t need to file away the bills!!  Who has time for filing these days? Not me!  BPAY View will store a link to your bills which you can access via your internet bank so you can always refer back to them at a later date if needed.  Eg, to compare your monthly bill amounts when budgeting, or if you need to locate a bill for tax purposes.

3. Bill and Recipet Organiser

I have shared with you how I use my bill organiser for all bills I recieve in the mail. However, using BPAY View and receiving the majority of my household bills electronically through my bank eliminates the need to write the due dates on the calendar and keep track via the organiser.  However, I still use it to store all my accounts and repayment plan information and keep my receipts organised.

After I come home from a day of shopping I take all my receipts out of the shopping bags and file them into my receipts box.  Every few weeks (weekly would be preferable, but sometimes time gets away from me), we go through our receipts and enter our spending into our budget.

I then keep them in the Bill Organiser so I can easily refer to a receipt if there is a discrepancy on our credit cards statement, or if I need to return an item back to the store.

At the end of the year I clear out all receipts, keeping those for tax purposes and securely disposing of the rest.

4. Budget

Don’t spend more than what you earn, it may be common sense but it is one of the biggest mistakes to savvy spending and saving. Create a budget and record how you are spending your money.  You will soon see which areas you are overspending and work on these areas.

5. Start Saving 

After all expenses have been paid most people like to spend the rest, because they can, leaving nothing for saving. Quite simply if you can’t save money in one bank account, create another separate high interest account and put away just a small regular amount each month – even $100, this way it is out of site out of mind and won’t be spent.  Over a period of time this will build up to a nice little nest egg that can help towards larger purchases, holidays, or unexpected expenses.

5 Simple Steps to
Setting up your Bills with BPAY View

1. Check your bill

Many important businesses have already signed up to BPAY View. To see if your biller is among them, look for BPAY View in the How to Pay section of your bill or check this list of BPAY View billers. If your biller is not listed on BPAY website, you can put a request via the BPAY web site for your biller to offer the service.

2. Log on

Log onto your financial institution’s Internet banking site & look for the BPAY View or View Bills section.

3. Register

Follow the prompts to register for BPAY View with each of your billers. Each Biller or organisation may require slightly different information but generally you will need:

    • Your customer name as it appears on the bill
    • The BPAY Biller Code
    • Your Customer Reference Number
    • Your BPAY View Registration number which is noted in the BPAY payments box on your bill.

Just look for the distinctive BPAY Biller code and reference number on your bill:

Look up a BPAY View Biller and find out what information they need to register you. You can contact your Biller as well

4. Get confirmation

Within two working days, your financial institution will be in touch by email or through your online or mobile bank to confirm you’re registered. They’ll also let you know when your next statement or bill arrives.

5. And you’re done!

Once you are successfully registered with BPAY View, you will receive a notification when a new bill has arrived either via email or the next time you log onto your Internet Banking site.

 

Disclaimer:  This post is sponsored by BPAY and coordinated by Nuffnang.

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11 comments

Miss Maudy October 30, 2013 - 10:20 AM

I’ve been doing that for years with all my utilities bills (gas, electricity, phone, water rates) and it works a treat. I do still get the odd bill, particularly over winter when gas use is higher and the dryer gets a workout, but it’s much easier to find $100 than $600 when the bill comes in. I have another account (we call it the slush fund, lol) for big bills that I can’t bpay fortnightly, such as car registration, house and car insurance, and for our regular direct debits that I pay money into each fortnight (also, the child care tax rebate goes in there as well). We used to have three lots of car rego, one lot of car insurance, two kids birthdays *and* Christmas in the month before Christmas, swiftly followed by two more birthdays and rates and back to school in the following month. It was a nasty time financially – but now, the slush fun looks after all the bills for us.

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Fan October 30, 2013 - 7:39 PM

Hiya, I LOVE BPay View. I schedule to pay my bills just before they are due out of our special bills account. I never forget a bill that is with BPay View!

ps Kat this post has a few errors – grammatical mostly. e.g. ‘would of’ is really ‘would’ve’ which is actually ‘would have’….and “one of the biggest mistakes to savvy spending and saving.” I think you mean the opposite…. one of the biggest mistakes leading to over spending and not saving!

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Jo November 3, 2013 - 10:06 AM

I find my excel spread the best for this, it has been set up with all the fortnightly costs (most don’t change such as food, car load, mortgage, petrol, telephone and mobiles etcc..). As for all the utilities, I have set up an arrangement to pay them fortnightly throughout the year. This means no big bills throughout the year. I know how much goes into savings and how much left for enjoyment. The only large bills to manage each year is the health insurances and house/car/content insurances.

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Monique Pollock November 7, 2013 - 9:45 AM

YNAB is a great budgeting tool, it puts you two months in advance so that in november you are using your income from september towards your expenses, this builds up a buffer. I love it, best money spent.

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Madonna Stephens November 16, 2013 - 12:34 PM

I DIDN’T KNOW ABOUT BPAY VIEW!!! I’ve been using budget tracker in Suncorp and have been pretty on top of our bills but WOW I just registerered all our available billers! Thanks Katrina! Looks REALLY useful!

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Suzanne October 27, 2014 - 7:14 AM

BPAY View looks like a great system- I’ll have to look for something similar here in the States.

One easy way to keep up with e-mailed bills is to have an email address dedicated to only bills and financial correspondence. That’s actually a great way to keep up with a lot of things. I have an email for school, an email for retail sites I subscribe to (such as, department stores or Amazon), one for social media (Facebook, Pinterest, Twitter, etc). If you connect all your addresses to an email reader like Mozilla’s Thunderbird, it’s so much easier to stay on top of things.

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Rebecca Howarth October 27, 2014 - 1:18 PM

This is a great tool for sure, I have just set up my personal and business accounts through a software program called xero this has helped me identify areas of our budget we can work on and also we can allocate estimated vs actual spending information. Having a budget that is easy to use and informative is so important to get to the next step – reducing debt, saving money for kids education or holidays, etx and eventually putting money away for building wealth and planning for your retirement!

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Katrina - The Organised Housewife October 27, 2014 - 2:48 PM

Ooh thank you Rebecca, that is lovely to hear.:)

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Krystal October 27, 2014 - 2:58 PM

Gosh, I wish I could use this for gas, elec and water, but unfortunately I live in a share house situation where every bill needs to be divided three ways and each person pays their share… I’ve tried estimating it but it fluctuates too dramatically month on month depending on who is home and who is travelling (if my sister is on annual leave we KNOW the gas/elect will be THROUGH THE ROOF because she flicks on the bloody heater/air con as soon as she gets up in the morning).

Not sure how to tackle this one really…

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Katrina - The Organised Housewife October 29, 2014 - 11:18 AM

Hmmm Krystal it really is a tough one! Sadly there is no easy solution.:(

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Audrey Greenwood November 28, 2014 - 1:27 PM

While I understand the importance of saving the Earth by cutting down on our paper trail, I really find physical bills so much easier to keep track of. I’ve got a moving box with dividers much like the one you have that serves as my organizer and I love how it keeps me organized!

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