anyone else feel worried about

red_devil

the price rises for energy what would happen if you just couldnt pay?

lisyloo

the price rises for energy what would happen if you just couldnt pay?

If you feel you may not be able to pay then the best course of action would be to take pro-active action e.g.

1) switch the thermostat down 1 degree and put another jumper on
2) increase you income by getting a second job
3) decrease your expenditure on other items by using this MSE site.

If you have really exhausted all the other options and are already doing 3 jobs and wearing 3 jumpers then you need to look at more drastic action e.g. moving somewhere smaller cheaper, changing your lifestyle dramatically or rescheduling debts.

If you don't take pro-active action then ultimately the legal remedies are
1) seizure of your assets
2) repossession of your home
3) bankruptcy

The people who will have trouble are those who have stretched themselves to their limit when times were good and inflation and interest rates were low without leaving any contingency for conditions to worsen.
For example many people have taken advantage of low mortgage rates. That's a very good idea, but it's even better if you don't spend the profits.
If you spend the profits and improve your lifestyle then that's clearly a temporary measure that will have to be changed when conditions worsen.

I don't consider myself a doom and gloom merchant but everything I have seen so far indicates that conditions will be worsening this year.

red_devil

thanks for your reply putting another jumper on dosent apply as i dont heat by electricity its my computer, lights, kettle, toaster, shower, tv, that kind of thing thats getting dear.

lisyloo

its my computer, lights, kettle, toaster, shower, tv, that kind of thing thats getting dear.

Ok - I should have explicitly said, take steps to reduce your consumption e.g.

1) turning off computers, lights etc. when you are not using them.
2) Getting low energy light bulbs.
3) Using shower and not Bath.
4) Not leaving the TV on standby.
5) Turning off (or down) the heating and water when you are out of the house.
A good way of doing this if you out a lot is to set your thermostat to minimum comfort e.g. 18 degrees. This way it stops the house getting freezing cold but minimises heat when not needed. If you are in you can always turn it up a degree and it doesn't take too long to get warm.
6) Don't use expensive items like tumble dryer.
7) Let your hair dry naturally.
8) Be cheeky and charge your phone up at work, maybe use work computer during lunch hour.

I'm sure there are others.

If this is not enough then the you have to go further and look at cutting money from elsewhere in your budget or increasing your income.

You should also consider swicthing at the appropriate time but I don't think that is now.

You could also consider solar panels, wind turbine etc. Personally I'm not convinced that the technology is good enough yet, but I probably haven't done enough research into in.

SwanJon

red_devil wrote: »

thanks for your reply putting another jumper on dosent apply as i dont heat by electricity its my computer, lights, kettle, toaster, shower, tv, that kind of thing thats getting dear.

If you heat by gas the price for that is going up too.

If you can't afford to pay, don't use it. Any supplier will let you fit a pay as you go meter if you are worried.
It's the same as anything else - try it in a restaurant or petrol station.

Cardew

red_devil wrote: »

the price rises for energy what would happen if you just couldnt pay?

Get rid of computer and internet as an economy measure?

red_devil

then i wouldnt be able to come on internet and earn and save money lol.

I shower, dont leave things on standby and have low bulbs mostly thanks for tips.

lilac_lady

If you can't pay, there's a lot of help given by the companies who supply the energy. Try not to worry. Don't be cold.

red_devil

thank you i just wondered what would happen?

lisyloo

thank you i just wondered what would happen?

If you ignore the problem then bad things can happen.
If you get a bad credit record then it can take 6 years to shift and that can make it impossible to get credit for a long time.

The best advice we can give is don't ignore the problem.

Talk to the company and see what they can do to help.
Maybe they can put you on a cheaper tarriff.
Maybe they can even out your payments over winter/summer.

The worst thing you can do is stick your head in the sand and ignore it.

If you have an overall problem with your expenditure exceeding your income then you need to address this.
There is a lot of help on these board in many places on virtually every topic.
There are really only two mains ways and one is to reduce outgoings and the other is to increase your income.

You need to start by writing down everything you spend (as we do mean everything).
Categorise it
e.g. food, utilities, mortgage/rent, entertainment, clothes, presents, holidays etc.
It's only once you can clearly see what you are spending that you can see where you ened to cut back.