48 Chapter 2 Making Smart Decisions
Keep track of due dates so you can pay on time and avoid late fees. Many
people pay bills on a regular schedule, such as every Sunday night or at the
end of the month. The due dates and your paydays will dictate your bill
scheduling.
You can pay bills online or by check. You may not have enough money
to pay all of your bills at the same time. Pay the bills that are due first. Bill
paying is easier if you keep stamps and envelopes on hand. Online payment
eliminates the need for these items and makes it even easier to pay your bills.
Financial Documents
Well-ordered records can help you stay within your budget and make
adjustments as needed. It is helpful to keep money management records over
a period of time so you can review your current financial situation, evaluate
your progress, and plan for the future.
File your budget with other money management materials and receipts in
one place. Then you will have all the information when you want to evaluate
and make necessary revisions in your financial planning. Your files should
contain financial records related to your income, spending, and savings.
Income records to keep include:
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Careful recordkeeping will make financial planning easier to manage.