I pay everything online, so as soon as a bill arrives I log into my bank account and set up the payment, then I file the bill in its respective folder. It goes from the mailbox to the file folder.

Don't forget that if you do pay late, and get hit with a late-fee, it is worth your time to call the creditor/business and ask them to waive the fee. I have found that most are willing to waive late charges, provided that you aren't in a habit of paying late. Rather than coming up with a fantastic excuse (i.e. lying), I have found that the best route to take with the customer service person is 'I blew it, can you give me a break here?' They have heard it all before and you will have the most success by being nice about it.

With late fees approaching $50 in some cases, do not forget to ask for a waiver. That is your money - get it back!

I find the best method for me to not forget is to use a magnet and hang it on the fridge. That way I see the bill several times per day.

Tim
Youngmiser.com

As a bachelor, I was typically uninterested in paying bills. I would often wait a couple of months so I could pay one big bill instead of 2-3 little ones (brilliant, I know). My far-more responsible wife finally forced me to get organized in this area.

I created a simple, business-card sized checklist that fits in a see-thru sleeve in my checkbook (since my wife also uses the checkbook, I can’t keep it in my GTD planner). Vertically, I listed every monthly bill in the order they are usually due; horizontally, I listed six months into the future.

As soon as I get a paycheck, I pay every bill due before the next paycheck is expected, checking off each bill on the card. I also pay everything online so I’m not looking for stamps, forgetting to place them in the mailbox, etc. Then in six months, I add or remove payees as needed and print out a new card. Simple and effective.

Free online bill pay, set up to do fixed monthly payments. If your bank doesn't have it, find a new bank. If you really like your bank find a credit card that lets you set up arbitrary bills and pay them. Preferably one that gives you some bonus, think cash-back or airline miles. Or GI-Joe points or anything else you can trade for goods and services. I know my discover card has the facilities for setting up bill pay.

Of course then you have to make sure to pay the CC bill, or you get yourself in a whole different world of trouble.

I use my banks online bill pay, worst case I underpay something a little bit, like my electric bill in the summer, or my cable bill when it inexplicably changes by $1.36 every 3 months.

I use Quicken and it's scheduled transaction feature so I don't forget to pay any bills. It let's me know when they are due and which ones are upcoming. I also have free online banking with my bank so I have bills that are the same every month on automatic payment. I have Quicken set up to remind me 7 days in advance so when they show up in the "due bills" list I know to go online and enter the ones that don't pay automatically in the banks bill center.

If you're using online bill pay, remember to build in a time window. I was amazed when my bank switched to Bank of America to see that they suggest *10* days. That's huge! Especially keep this in mind when you're getting close to the deadline and it's right around a weekend or holiday, because it'll be that much harder to predict when the bill will reach its destination.

I do my finances about once a week and have a small box in which I put in my incoming bills.
Once a week, I put them in the electronic banking system and have them paid automatically on the due date.