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Organization is key to paying your bills on time. I have a great plan that I know for a fact works, since I have used it for years! And my credit report, tax return and my bank account are happier for it.

If you are the lucky one who pays the bills the days they arrive, you can use this plan as well. The tax advantages are fantastic, especially if you itemize.

You will need two tools, both available at the discount store or office supply store: One calendar file and one monthly file. The calendar file is divided into sections 1-31 or a card file with numbered 1-31 dividers. The monthly file has 12 pockets with the name of each month. Never fear! The instructions for online and one-time payments are included.

Mail delivery plan:
1. When your bills are delivered, file the payment stub and envelope in the pocket 7 days before the bill is due. If you can pay it now, write the check, put it in the envelope and file it 7 days before it is due. Seven days is sufficient to ensure that you get no late fees, even if a long weekend is in the seven days.

2. The body of the bill should be filed in the monthly file in the month that the bill is paid. This is great at tax time! You will know what you spent all year. I also suggest that you file your receipts here as well for prescriptions, co-pays made by credit card, mortgage receipts showing interest and other deductible expenses. It is a great place for bank statements!

3. Each morning, look at the contents of that date (and the day before, to cover days that no mail comes). Write all of the checks for that day and enclose them with the payment stubs for mailing. If there is already a check in the envelope, stamp it and mail it!

Online payments:
1. Rather than the file for the month, use a card file with the 1-31 dividers. It hides well in the desk drawer. Five days before the day the bill is due, place a file card in the box. The file card should have the name of the payee, due date and the payment amount.

2. When the day to pay arrives, mark the file card with the amount paid and the date. You will have twelve entries by the end of the year.

3. Use the printable online receipt to file in your monthly file. For more itemized records, print the statement to file as well.

One time payments:
If the bill has a payment due date, use the mail delivery method above. If it does not, file the payment stub on the day that you get paid.

Savings, retirement and education/medical savings accounts:
Make a card for your savings account, Roth IRA

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