How Can Get More Organized As I Have To Pay My Mom’s Bills, My Bills And My Husbands Bills. Thanks?
I have three separate accounts. thanks
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Comments on How Can Get More Organized As I Have To Pay My Mom’s Bills, My Bills And My Husbands Bills. Thanks?
I had to do this same thing. I was responsible for my household’s finances, those of my mother, and a small family trust. (This is in addition to running a small business for myself.)
You need to continue to use separate checking accounts. Comingling funds from the various places could lead to, at best, confusion and, at worse, legal problems.
Second, pick up a copy of Quicken or Money or some similar personal finance program and set up an account for each of the finances for which you are responsible.
Third, assuming all accounts have enough money, sign up to have as many bills paid by automatic ACH transaction (auto debit) as you can. This saves you the problem of writing those checks every month.
Fourth, sign up for online bill paying. This way, you can use you computer for something more valuable than asking and answering questions here. (Just kidding.)
Finally, dedicate some time each day or week to working on strictly finances. Don’t get distracted by anything, but also don’t allow it to control your life. You deserve kudos for your efforts. If you ever want to vent or how I handled specifics, drop me a line at LeroyPK@yahoo.com.
There are a number of programs for personal finance and accounting.
Some of the more popular one’s you could give a try are quickbooks, microsoft money, and moneydance.
Note: You may need access to their accounts, legally speaking that is. A power of attorney or you just on their account jointly will get you that.
You can pay bills and manage money from any account with those programs. They do pretty much everything for you, just enter some biographical information and account details and it will do most everything for you.
Also, you should have online banking setup at the bank they use for each and every account you is managing if you are going to use one of those software applications.
Think ahead a few months…write down all the bills that have the same monthly balance (mortgage, car payments, loans). Then those with varying balances (utilities, credit cards). Most banks offer free Online Banking. Set up a Billpay online through your Bank. Input all your bills, You can set up all the bills to be distributed for specific amounts every month at a certain time of month or make one time payments. You can even set it up so that you recieve your bills through email to remind you, and set up payments ahead of time as you receive the emails. Best of Luck to You!!
Work out a budget and stipulate x amount for telephone, water and lights or others, x amount for food, x amount for policy/insurance, x amount for school etc and stick within the amount you budgeted for