When we moved, we opened a new bank account with a large national bank. As a whole, it is fine. But I hate their bill pay.
I have no idea why, but the lead time needed for paying bills varies from 1 to 5 days depending on the bill. Additionally, our utility bills arrive about 10-14 days before they are due. This is screwing me up based on when we get paid.
So, in the name of simplification, I am taking $500 from our third paycheck of the month and prepaying our utilities, using the last bill amount as the amount prepaid. This way, I can pay all the bills on the first of the month with the rent. This isn't a perfect system, but I needed to build in a credit with each company to avoid late charges. As I get a better handle on the bills, I can adjust as needed.
Now, I will take $250 per paycycle and put it aside for the bills, and pay everything at once. Eventually I want to build this system to include the credit cards and student loan, but I will be happy to start with just the household bills.
And for those who have an eye for this stuff...this doesn't impact the extra money we will be putting toward paying off G-man's car. While both come from the third paycheck of the month, they are direct deposited into separate accounts, so we see them as separate piles of money.