Baby steps to mortgage freedom for beanielou.

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  • kelpie35
    kelpie35 Posts: 1,781 Forumite
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    beanielou wrote: »
    Anyone any thoughts on smart meters?
    Thanks.

    Everyone I know that has had one installed have reported that their energy bills have increased.

    Also I have read that this is due to the cost of the meters, but if you ask your energy supplier this question they will deny it.

    I don't have one and don't intend to ever get one unless I am forced to by law.
  • HairyHandofDartmoor
    HairyHandofDartmoor Posts: 13,960 Forumite
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    beanielou wrote: »
    Anyone any thoughts on smart meters?
    Thanks.

    Our supplier keeps trying to arrange a date to install one in our house, but I keep prevaricating as I'm not sure I want one.

    The pros are that they can see how much fuel you're using so you don't overpay or underpay (in theory) and don't have to give meter readings.

    The con as far as I'm aware (and I could be wrong) is that if you change supplier then you may need a new smart meter installed.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
    CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
    HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS
  • HairyHandofDartmoor
    HairyHandofDartmoor Posts: 13,960 Forumite
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    kelpie35 wrote: »
    Everyone I know that has had one installed have reported that their energy bills have increased.

    Also I have read that this is due to the cost of the meters, but if you ask your energy supplier this question they will deny it.

    I don't have one and don't intend to ever get one unless I am forced to by law.
    Blimey I didn't know that. That's put me right off getting one :eek:. I wouldn't trust my energy supplier to tell me the truth about anything :mad:.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
    CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
    HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS
  • milann
    milann Posts: 10,603 Forumite
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    We have a smart meter - they still come to read out meter once a year. At first we looked at it all the time - it’s surprising how much a kettle uses :eek: but we hardly ever look at it now. I’m not quite sure how they make you use less electricity as they claim.
    January spends - £587.58
  • Seasidegal58
    Seasidegal58 Posts: 5,681 Forumite
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    Another one here who is not going to use a smart meter until forced. I've not heard a good thing about them from those who have one.
    Finally Debt Free! - July 2016 🌟
    Finished Emergency Fund- £10,000 April 2017
    🌟
    RETIRED: MAY 2021!!!!😀🎆
    My diary: “Seasidegal's Scrimpy Retirement Diary!”
  • teafor2
    teafor2 Posts: 3,322 Forumite
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    Hubby wouldn't touch one with a barge pole. He's that against them I think we'd have to go off grid if they became a legal requirement. :eek: xx
  • beanielou
    beanielou Posts: 90,452 Ambassador
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    Thanks everyone for your input.
    Will cancel my appointment I thnk.
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • girlatplay
    girlatplay Posts: 3,883 Forumite
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    Agreed about not getting one unless forced.
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £166,457.86
    300 282 payments to go.
    House buyout fund £3,261.67/£40,000
    Random Pick Fridays = £80.01
  • yogavibes
    yogavibes Posts: 99 Forumite
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    Hi beanielou - we've had one fitted this week as OH has done a fair bit of looking into it and next year we will be able to go onto a cheaper tariff with our supplier. We currently pay £124 a month for gas and electricity so I'm happy to try anything to get it down! Also hoping it might help the kids to understand the impact of being a bit more energy efficient. I haven't figured out how to use the meter yet but the guy explained it has a budget that you can set on it per day and then it lets you know if you are over this - again I thought this might something that helps the kids to understand why they need to switch things off! Will report back in a couple of months if it makes any difference :)
    MFW #69 Mortgage remaining Jan 2021 £221,644; Jan OP £1000;
  • doingitanyway
    doingitanyway Posts: 8,791 Forumite
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    I'm in the 'not until I'm forced' camp too.
    Have a good day :)
    If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them.

    Solicitor/survey savings 300/1700
    Emergency fund 0/1000
    Buffer fund 0/200
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