How to get on top of your bills

Bills... something no one wants, but everyone gets. There’s no way around them, so we’ve gotta get through them. Young people fork out over 40% of their income on bills, so let’s talk about how to get through them the right way.

Here are our top 5 tips on how to take control of your bills so you can focus more on the important things in life 🙌

• Organisation is key - Get all of your bills in the one place, and make note of what is due and when. 1. Reminders in your phone or an expense calendar can be particularly handy with familiarising yourself with your upcoming outgoings, especially if your organisational skills need a bit of polishing.

• Set money saving goals (realistic ones) - as much as we would all like to live the life of a king, we need to be honest with ourselves… If we can live like kings then, brilliant. If not, start with a small goal (you can always go bigger). Experts suggest you should aim to save between 10-20% of your income. By setting a saving goal you resist the temptation of spur-of-the-moment spenny purchases, helping you save your funds and avoid scrambling for loose change when bill due dates roll around.

• Get on top of your payments - Did you know that 85% of Aussies have experienced bill shock in the last 3 months? This leads to missed payments, late fees, or worst case scenario, service disconnection. Say goodbye to all of the above and take control of your payments with Sorted - we use bill smoothing to average out the household usage over a monthly period.

• Check in with your finances - as many of us have learnt the hard way, we can’t make assumptions about the dollar amount in our bank account. What we see is what we get. Checking in on your accounts regularly will not only help you keep on top of your finances but give you a sense of empowerment as you start to become more familiar with what money is going out, but more importantly, the money coming in.

• Build your knowledge - knowledge is power and the more you know about your personal finances, the easier it’ll be to pay your bills. Money management is something anyone can learn and there is a heap of helpful material out there! Find resources that can help you build your wealth knowledge - the advice given might not always be in parallel to your financial situation, but no tip is a bad tip. To get you started, check out some budgeting and saving apps that are hot in the market right now, there’s hundreds out there so to help you get the info you need faster, this page here has condensed the top 7 apps worth downloading.

Download the Sorted app to get on top of your bills today 💸