paying annually?

thewinkshow

hi again.im single 22 year old male buying a 2 bed semi in north west.ive been told you can pay your bills annually,how does this work? as i have no idea what i will use for the year,could anyone with experience give me a estimate of what my gas water elec will be per annum,or my likely useage so i can compare prices.i will have a water meter.my plan is to pay a year in advance on all bills giving me some breathing space to adapt to paying a mortgage and everything that goes with it,does this sound like a good idea?

thanks

Cardew

No it doesn't sound like a good idea.

Just put your estimated spend in a separate high interest current account and pay by Direct Debit.

How much you will spend on gas/electricity/water is one of the best 'how long is a length of string' questions posed for a while.

I will guess at £1,053.37p per year!

tripled

To be honest it would probably work out more expensive to pay in advance on a standard tariff than taking advantage of some of the online deals available. You would be better off following Cardew's advice.

Don't forget when you move into your new property to take readings and give them to the existing provider, even if you are planning to switch.

Many comparison sites will let you punch in your details and estimate your usage. It is only a rough guide as people can deviate wildly from the norm, but should give you an idea. Don't forget to use a cashback site if you do switch.