Paying the bills, there is no way to avoid this!

Brown envelope syndrome
It is easy, at any time, to get slack about keeping paperwork up to date and after the upheaval of a divorce, possibly a house move and a general need to re-evalute your life after divorce it is understandable that some things have had less attention lavished on them than they deserve.

It could be, of course, that your former husband or wife took sole care of the finances and that it is simply an alien world to you to have to think about writing cheques, setting up direct debits or internet banking.

Even if finances are in good shape in your life after your divorce, financial prudence will enable you to enjoy your new circumstances without worrying and to make sure that you have some financial backup if you fall on hard times through redundancy, illness or retirement.

Don’t put things off.
Make a fresh start and give yourself plenty of time to sit down and sift through accumulated paperwork.  Collate all your bills and statements if they are scattered around the house, throwing away anything that is more than a year old (seven years if you are self employed) and putting everything into separate folders.  

Make a budget and set out how you can expect to stay within this.  This is all totally obvious but it really is important as it will help you get your mind straight as well as your finances.  This will be a good spring board into your new life after divorce.  If you have some dosh from the division of the spoils of the divorce get some specialist financial advice so you can make the best use of it to secure your financial future. 

Where appropriate, set up direct debits to pay bills.  It means they will get paid on time and you will not incur penalty charges for late payment because you have forgotten to pay something.  Late payment charges have increased markedly in the last few years as our wonderful banks think of new ways to increase their profitability at the expense of their customers without whom they would not have a business.

Set up a savings account and try to pay something into it every month, even if it is a very small amount it will get you into the habit if you have never saved before. 

Some facts about direct debit
Around half of all regular bill payments are made using direct debit with three quarters of mortgage, internet and satellite payments paid this way.  Some companies will charge customers more if they opt not to use direct debit as a means of payment.

If an error is made by the bank or building society responsible for paying a direct debit or the company in receipt of the payment you are guaranteed an immediate and full refund.  The company or person in receipt of a direct debit payment has to notify you ten working days before any change in the amount to be paid (if gas prices increase for example) comes out of your account.

How do I set up a direct debit payment?
In order to make payments by direct debit you must have a current account at bank or a building society.  You can usually sign up to direct debit by phone, online or by filling out a direct debit form that comes with a bill. You can choose a payment day that suits you and an agreed amount with the company or the individual receiving the payment.

How do I cancel a direct debit payment?
You can change or cancel a direct debit at any time by notifying your bank or building society in writing.