How to Keep Track of Your Bills

So, once you’ve set up a budget that you can stick to, it’s time to keep track of your expenses to reap all the benefits of paying on time. 

But, how best to do it?

The easiest way is to use a bill-tracking app, but we’ll also discuss other methods like:

• Excel spreadsheet
• Handwritten spreadsheet
• Accordion folder
• Command center
• Mail pile
• Checklist
• Bullet Journal
• Calendar

We’ll show you how to set up each method step-by-step for you to find the one that’s best for you. 

Use an App

Phone apps are the most convenient option since we tend to keep our phones with us at all times. 

There are a number of bill-tracking apps available like Mint, Personal Capital, and NerdWallet. However, they all lack one thing.

They can’t block payment, only record it.

Forget to include the annual Amazon Prime charge when planning your budget? Too bad. Your subscription will run the charge regardless of you remembering or not. 

That is unless you use Revuto. This app not only keeps track of your recurring subscriptions, but it also blocks the subscriptions from charging your account until you have approved the payment. 

You also don’t need to check when the next bill is due, the app will tell you.

Here’s how to get started:

1. Gather your bills, including semi-annual and annual ones like car insurance.
2. Set up an account with Revuto.
3. Add your bills. I suggest adding everything you can because Revuto gives a generous 4% back on every payment made through the app.
4. Confirm or deny payments when you’re notified by Revuto that a subscription is asking for money.

Of course, not everyone prefers to use an app.

 Let’s explore the list of other options and how to set them up, starting with a classic from the ’70s.

Make an Excel Spreadsheet

VisiCalc, a computer spreadsheet and calculator, walked onto the world stage in the spring of 1978.

Steve Jobs, the juggernaut behind Apple, credited VisiCalc in a 1990 interview as the one thing that “propelled the Apple to the success it achieved, more than any other single event.”

Modern-day Excel and Google Sheets still take their cues from that original program. Their spreadsheets are commonly used for bill-tracking and have been for years.

You’ll need a Gmail account or Microsoft Excel to get started.

Here’s how you can use one to keep up with your monthly bills.

Collect your bills, including ones that are only charged once or twice a year like your car insurance.

Open your spreadsheet. I’m using Google Sheets. You’ll need a Gmail account to access it. If you don’t already have one, it’s free to set up.

Click the plus sign in the bottom right corner to create a new spreadsheet.

Label 3 columns. “Bill”, “Date”, and “Amount” like so.

Bill

Date

Amount

(Optional) Freeze the top row by clicking View, Freeze, and 1 row. Doing so makes the top row sticky when you scroll down.

Fill in your table, including the semi-annual and annual payments. Don’t worry about trying to order them right now. I’ll show you how to do that automatically once they’re all on there. 

It should look like this.

Now, let’s organize them by the due date. Here’s how to do that automatically. Click the A column and drag over until it highlights A, B, and C. Then click the filter icon (it looks like a funnel). 

Click on the green funnel in the “Date” column and click on Sort A –> Z. 

Next, label the next empty column with the current month, like so.

Bill

Date

Amount

Current Month

Finally, check your bank accounts daily to verify that payments went out or to pay the bill. Once it’s paid, put an X in that row.

Bill

Date

Amount

Current Month

Mortgage

1

780.64

X

You’re all done! The only thing left to note is if you use another spreadsheet application it will have a different set of buttons. 

It’s easy to Google how to do specific tasks in common spreadsheets.

Spreadsheets are great for managing your money as part of a larger system that usually includes a budget, balance tracking, and bill-tracking together. You do need to manually monitor and pay bills, but it is effective for what it is.

Use a Handwritten Spreadsheet

Using a pen and paper is the most tried and true method for tracking your bills (or jars of grain) around.

Grab a pen and paper and let’s get started.

1. Write down who you owe, the date they need to be paid, and the dollar amount you’ll pay across the top.
2. Fill in the appropriate information for each bill. Leave it blank if you don’t know the amount like with utility bills.
3. Keep the paper on your fridge or a place you frequent in your house.
4. Pay your bills on appropriate days or confirm your account was charged.

Pen and paper take the least time to set up, is easily posted in a prominent place, and does its job of reminding you of when bills are due. However, it does not block payments, and it requires consistent attention.

Use an Accordion Folder

Accordion is a musical instrument invented by Friedrich Buschmann in 1822 in Berlin.

Here’s an accordion file.

You can see where this filing system gets its name. Here’s how to use this comical device to keep track of your bills.

Gather your bill information. Pro tip: Take everything out of envelopes to store it. It saves space. 

Label the sections using a marker or label-maker. 

A few sections I suggest: 

• “Paid”, separated by bill type,
• “Unpaid”, placed in one section
• “Toss”, paid bills and other papers to be shredded
• “Returns”, receipts you need to make returns

Put any bills that don’t come by mail onto a list and tape this list to the front of your accordion folder. This way, you are sure to see and remember when bills are due. 

When your “Unpaid” pocket naturally expands and contracts with the contents, it gives you an idea of how long it’s been since you last paid bills.

Accordion folders are brilliant for tracking and storing physical bills, but aren’t helpful for electronic billing like with Netflix. You need a paper spreadsheet tacked onto the front of the accordion to make it savvy for all your bills.

Build a Command Center

“Command center” can conjure the image of a NASA launch with rows of computers and screens full of data.

That is not what we mean. The bill command center is a place to centralize all your bills.  Mudrooms, above desks, and inside pantry doors make excellent locations. 

It needn’t be rocket science.

You’ll need hanging wall files (at least 4), a corkboard, push-pins, and a marker or label-maker.

Here’s how to set it up:

1. Space out the wall files on your corkboard until you are satisfied, leaving at least 6 inches above the pocket.
2. Pin (staples work too) the files in place.
3. Label each file (ex. Return Receipts, To File, Bills to Pay, Tax Documents).
4. Hang the corkboard where you have to look at it.

Alternatively, use magnetic wall files and make the side of your fridge the command center. 

Once your command center is in place, use it. Put bills in the “To Be Paid” file until they are paid. Then, file them immediately or put them in the “To File” file. 

Finally, schedule a time to go through your wall files. 

Full-blown family command centers are great for coordinating chores, schedules, and grocery lists. Using them for purely bill-tracking works, but it would need to be one facet of a larger system to be of the most use.

It still takes constant monitoring and costs money to set up.

Make a Mail Pile

I credit my father for this rather unkempt bill-tracking method.

I remember growing up and seeing bills piled up on one end of the counter in our kitchen until a set day of every month. Then, every bill would be opened.

My father would handwrite a check and fill out an envelope for every bill until he was through the pile. Then, he’d walk out to the mailbox with a fistful of stamped letters and a grim look on his face.

I asked him when I grew up why he didn’t use automatic bill payment.

“I don’t want them to take money out of my account without my permission,” he answered.

The mail pile only works if you receive every bill by snail mail. That is still possible for most bill types. Though, there is a push across the board to go paperless. 

You could modify the method to auto-draft some things -like Kindle Unlimited- and collect a paper bill for others.

Then you’d need a paper spreadsheet to keep that organized. 

Print a Checklist

One of the main deterrents to keeping track of bills is the work you have to put into the setup. How about, instead of trying to reinvent the wheel, using someone else’s pre-made checklist?

Pinterest is the best place to discover a long list of free printables. All you need is an account and a working printer.

Here’s how to do it:

1. Go to Pinterest.
2. Sign in or set up an account (it’s free).
3. Search “bill-tracking checklist”.

Here are the results: 

Credit: Pinterest

I found 50 unique checklists in under 2 minutes. Find one that looks good to you and print it! 

The most it might cost you is your email address to get the printable by email. Unsubscribe from the email if you don’t want future contact from them. 

You’ll still need to fill out the printable by hand.

Simple! Put your bills in order by date and write them down, including the amount owed. Once it’s paid, check it off your list for the month!

It may also benefit you to write down the payment method. For example, is it paid with check, cash, ACH bank transfer, auto-draft, or via credit card?

A printable checklist is quick and looks good on your fridge. It does require constant attention and manually checking and paying accounts to work.

Use a Bullet Journal

The bullet journal created by Ryder Carroll is meant to keep track of far more than just your bills. According to him, it’s meant “to help you track the past, organize the present, and plan for the future.” 

Bullet journaling is made up of four core modules: Index, Future log, Monthly log, and Daily log.

Bill-tracking does not require every module, but if you’re interested in learning more about creating a full-fledged bullet journal start with this Youtube Video from Bullet Journal.

Gather a journal and pen to get started. You can also get fancy calligraphy pens, markers, and stickers. The first two are for journaling, the rest are optional for decorating your pages.

Many YouTubers make bullet journals that are works of art. Hence, all the optional materials.

The only required materials are a journal and pen, but upgrade your artwork if you have time. 

1. Collect all the information about your bills, including due dates and amounts.
2. Open your journal.
3. Label the top with the current month.
4. Evenly spaced down the side of the paper, write down the date.
5. Write what bill is due next to the date it is due.

The final product should look like this.

The final step is to open your journal preferably daily to check up on your bills. It’s the only way this method is of use to you. 

While you’re at it, you can look into the other modules of bullet journaling and give it a whirl.

Fill In a Calendar

Calendars have been telling humans when to plant crops for thousands of years. Now, they tell us when to pay bills.

It is extremely simple to use a calendar to mark when bills are due. You’ve secretly used one in every other bill-tracking idea.

To start, let’s talk about a physical calendar.

Collect a calendar, yearly or monthly, and a pen.

• Collect your bill information.
• Mark on the calendar what bill is owed on the appropriate day of the month.
• Continue through your bills until they are all on the calendar.
• Repeat until you are through an entire year, making sure to note special semi-annual or annual payments.

Alternatively, you can use Google Calendar.

The three reasons you might consider that instead of a physical calendar; you can add notes, set up reminders, and make each event recurring (you only have to set it up once).

1. Gather your bills.
2. Open Google Calendar.
3. Click on the day a bill is due.
4. Set up a new event with the bill name.
5. Click to add more details.
6. Set it up to show up on the same day every month.
7. Set up notifications. They can be phone push notifications or emails. You can set when they come and set as many as you like. I suggest 1 and 3 days beforehand.
8. Add notes like how the bill is paid, a link to the login page, the dollar amount, and any other special instructions.
9. Click Save.
10. Repeat until you are through your bills, including semi-annual and annual ones.

Calendars are, arguably, the best non-app option on the list.

They are directly and indirectly used by each other method. Electronic calendars are slightly more convenient than physical ones since they can send you notifications and store detailed notes. 

Conclusion

As you can see, there is no lack of bill-tracking methods. The simplest, by far, is using an app on your phone, but the other methods work as well.

Even if you choose to use one of the analog bill-tracking systems, you can still use Revuto to block subscriptions from charging your account without your permission. 

What bill-tracking method do you plan to use? Let us know in the comments!