Is it worht paying all utlilities in full

ShaneJoshua80

I know this is purely for gas but do you think that it is worth payig all utility bills in full that can be paid full instead of direct debit as I am going to be moving home soon and because it is shared ownership paying rent, mortgage and utilities is really going to set me back.

roger56

I prefer to pay quarterly against actual meter readings, that's my preference.
Monthly DD is easier if your budget is tight.
What you could consider is opening a savings account and save up money for utilities and pay quarterly - you'd then also earn a bit of interest on top. Some banks offer some good interest rates for saving small amounts regularly.

However, don't be tempted to "dip in" for other none essentials
and don't get overdrawn - one penalty charge can wipe out any interest benefit. (Yes - I hear the "it's unlawful and you can claim it back" but you don't really want the hastle in the first place).

magyar

ShaneJoshua80 wrote:

I know this is purely for gas but do you think that it is worth payig all utility bills in full that can be paid full instead of direct debit as I am going to be moving home soon and because it is shared ownership paying rent, mortgage and utilities is really going to set me back.

Most utilities give you a discount if you go Direct Debit, more so than you would gain in interest from having the money in the bank for an extra couple of months.

Also worth looking into getting a dual fuel discount by getting both gas and electricity at the same place.

roger56

magyar wrote:

Most utilities give you a discount if you go Direct Debit

Good point, I use Ebico so rates are the same regardless of payment method..aslo for Ebico dual or single fuel is also the same rate...

http://www.ebico.co.uk/en/open/pages/gasandpoweren.php

libra10

I also use Ebico and pay quarterly.

Good luck

magyar

I have to say I'd never heard of EBICo (which since I work in the Energy industry is a little sad...)

But I've just been looking at their "EquiClimate" pages: claiming green credentials by using Carbon Trading. On the face of it (and understand I haven't looked into this very much) it looks like all they're doing is what is required of them by law anyway!

So I hope no-one is with them because of their green-ness.

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Ignore the above - I read it wrong. It's nothing to do with their energy products.

roger56

magyar wrote:

I have to say I'd never heard of EBICo (which since I work in the Energy industry is a little sad...)

But I've just been looking at their "EquiClimate" pages: claiming green credentials by using Carbon Trading. On the face of it (and understand I haven't looked into this very much) it looks like all they're doing is what is required of them by law anyway!

So I hope no-one is with them because of their green-ness.

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Ignore the above - I read it wrong. It's nothing to do with their energy products.

Just to be clear, Equiclimate is about taking some of the carbon trading allowances out of circulation so they cannot be used by other companies.
The choice is up to each of us to help, Equiclimate provides a mechanism to makes it easy for individuals to contribute.

http://www.ebico.co.uk/equiclimate/immediateaction.htm

So full marks to Ebico for helping