Keep bills covered

A bill doesn’t disappear because you forgot about it.

Rent might be weekly, your phone monthly and your car rego once a year. They all need paying, even if they’re not due today.

Regular monthly bills: Keep the amount and due date somewhere easy to find. A reminder in your phone is fine.

Big annual bills: If rego costs A$800 a year, setting aside a bit each payday can be easier than finding A$800 at once.

Main point: Monthly or once-a-year, bills still need paying. Setting aside a bit each pay can make them easier to handle.

Give bill money its own spot.

Some people use a second bank account. Others use savings buckets. Either way, the idea is to keep bill money out of your day-to-day spending.

Bills money stays bills money.: Say you’ve got A$600 in your account, but A$400 is needed for an upcoming bill. You really have A$200 available to spend. A separate bills bucket makes that easier to see.

Turn a yearly bill into a payday amount.

Got a bill that comes around once a year? If you’re paid fortnightly, you can spread it over 26 pays.

Treat this as an estimate. Check when the bill is actually due and leave room in case the price goes up.

A two-minute check can help.

Before spending what came in, have a quick look at what’s due before the next pay.

Write down due dates: Check the dates and amounts of the bills coming up next.

Set up a bills bucket: Move the money you’ll need for bills somewhere you won’t accidentally spend it.

Main point: Check what’s due, then keep that money out of your everyday spending if you can.