Monthly Bills Checking

When you first set up the Defend Your Money System, we had you connect the checking account you currently use to pay your bills as your Monthly Bills Checking.  

To organize your money, we suggest that you use this account exclusively for paying your bills.  

At the beginning of each month we recommend putting into your Monthly Bills checking the amount needed to cover all of your bills. 

To help you determine how much money to put into this account you can use what we call an Account Schedule.  To access this, go to the Organize page and click on the calendar icon next to your Monthly Bills Checking.

In this Account Schedule you can list each of the bills you have, how much they are, and how often they come due.   You can choose monthly, quarterly, yearly, or a target date.  Defend Your Money then calculates the total amount of money you need to put into your Monthly Bills Checking every month.

We suggest keeping a small cushion of money in this account to provide for any bills that fluctuate.

If you pay your bills using one of your credit cards you will then assign these charges to your Monthly Bills Checking.  If you pay your bills directly out of this account, your balance will reflect this.  

Either way, if you add these bills to your account schedule, the money needed to cover them, will be ready and waiting when your bills come due.

If you have not done so already, we recommend setting up autopay for all of your bills.

Also, while we don’t use checks very much any more, occasionally we need to write one.  So we recommend having checks for this account, just in case.

Now that you’ve separated out your bills, it’s time to organize the rest of your money.