Pay Your Bills First

Do you know how much money you have to spend freely at any given moment? I have an idea but if I happen to forget a bill that’s due then I might spend money that’s not available. A little while back I was introduced to a little trick when it comes to managing your money by my that has helped her know just how much money she has for her day to day spending. Pay your bills before you spend money on anything else. It’s a very logical approach but one that I overlooked for years as I was struggling with my finances.

Paying your bills first is a great way to help you live below your means. The object is to take all of your bills that are due when you get your pay take pay all of the bills you have and pay them before you spend any of your money. By doing this you end up ensuring that your bills are paid on time and you’re only left with money that is spendable. Coupled with some basic budgeting and it can help you live below your means.

If all you have left after your bills are paid is $500before your next pay you know that you can’t spend more than this and you don’t have to worry about bills coming out of your account. Getting into the habit of taking this approach may take a little time but it will prevent you from trying to juggle your debts. If you happen to be deep in debt and are struggling to make ends meet this can give you an idea of how much or how little money is left over.

Another benefit to taking this approach is that your bills are always paid before their due date and you continue to build a positive credit rating. I know that for many this is a mute point but when you’re in debt and juggling debt and spending it’s a nagging thought in the back of the mind. I know it was for me when was really struggling financially.

Finally when you know how much money you have to that is spendable you don’t have to worry about your spending as much. Being able to have money for the day to day spending is all you have to worry about which should free up any potential remorse or concern when it comes to spending money on an unneeded purchase.

The biggest thing that comes from paying your bills first isyou increase your peace of mind about your finances and budget. Personally I’mstill getting into the habit of doing this but it really makes a differencewhen it comes to knowing how much money you have for incidental spending.

2 thoughts on “Pay Your Bills First”

  1. Wow are you kidding me? This is your little trick? lol lol I dont even know what to say, this is um of course what you should do and the fact that you think this is a little trick clearly shows that you and I am sure most people havent a clue what do to with money. Scary very scary!!! Here is an even better trick for you. Pay your bills on time always avoid late fees. Now here is the greatest trick of all, take that money left over and DO NOT SPEND IT!!!!! HEAR ME? DO NOT SPEND IT,,,SAVE IT, SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT, SAVE IT SAVE IT, SAVE IT!!!!!!!!!!!!!!!!!!!!!

    OKAY then

    your-welcome

    🙂

    patty

  2. Hi Patty,

    I agree that people need to save their money rather than spending it but most people have no clue how much money they have. They simply spend until they’re out and then they lean on credit to make ends meet. If everyone simply got to the point of spending what they made they would start making headway with their debt which is more common than having an emergency fund.

    Part of what I do is treat setting money aside for savings as a bill that needs to get ‘paid’ right from the start.

    Also as part of this ‘spending’ money I’m including everything from grocery bills through to buying a coffee in the morning. The goal is to make sure that your bills are paid and then only spend money that’s left over for day to day life. If you can save then that should be first but if we’re realistic thats not the case with most people.

    Thanks for the feedback.

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