1st home no idea!

spudmush

Hi everyone! Would love some advice on where to start with my bills! I am moving into my 1st place and have no idea on which is the best ways to start paying bills! Please give me some advice ...

BexTech

Monthly Direct Debit.

glasgow_DFW

monthly dd will give the the best prices but do you have any idea the amount you will use? Depending on the property the min direct debit could be 60 to 80 per month until you usage is known

Ken68

Monthly Direct debit, Spud, spreads the load.
A fixed standing order is better, but not sure if the energy providers accept this.
Plus council tax, insurances, etc, need a lotta money to be independent.

Premier_2

Pay on receipt of bill - this way you only pay what you've actually consumed and the money stays in your bank account for up to 3 months earning you interest rather than in the supplier's bank account earning them interest.

However, you'll need to balance this against any discounts you may be entitled to using alternative payment methods/billing e.g. direct debit, prompt payment, paperless billing, etc. Different companies have different tariffs; discounts vary by company.

glasgow_DFW

Look ing at the diffrenc between paying quaterly and paying by dd, plest tell the reset of us the bank account that will provid you with that much intrest.

Using my supplier SP in my area 18 paying for 3300 kWh elec and 20500 kWh gas is £1113.05 paying by monthly dd £980.08. Difrence of £132.97 or 13%.

That not even taking into account the discounts if you did go on to internet, you will find the diffrenc between paying quaterly and by dd about the same for all the co.

Premier_2

glasgow_DFW wrote: »

Look ing at the diffrenc between paying quaterly and paying by dd, plest tell the reset of us the bank account that will provid you with that much intrest.

Using my supplier SP in my area 18 paying for 3300 kWh elec and 20500 kWh gas is £1113.05 paying by monthly dd £980.08. Difrence of £132.97 or 13%.

That not even taking into account the discounts if you did go on to internet, you will find the diffrenc between paying quaterly and by dd about the same for all the co.

Pick any account that pays interest, yes even as low as 0.1%pa, and it will be more than at least one supplier gives as a discount for paying monthly by DD.
http://www.ebico.co.uk

Then consider the number of posts on here where the supplier is trying to collect more per month than the customer is actually consuming...there's even a thread currently on the first page about SP themselves doing this
http://forums.moneysavingexpert.com/showthread.html?t=958717
Although there's probably an equal number moaning about their DD payments not meeting the amount they've consumed

As I said in my earlier post:

Premier wrote:

However, you'll need to balance this against any discounts you may be entitled to using alternative payment methods/billing e.g. direct debit, prompt payment, paperless billing, etc. Different companies have different tariffs; discounts vary by company.