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DD or Pay Bills
angryandy_2
Posts: 4 Newbie
in Energy
Is it better to pay by DD and get a 3% reduction in bill or to put the DD money away each month in a savings account and earn 5% interest on it and pay the bills out of this when they arrive? I think the second is better, am i right?:rolleyes:
0
Comments
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No, In strictly financial terms the DD discount is best.0
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Agree with Cardew. DD is best.
Remember the 5% is "per annum" (and may be less after tax) the 3% is off the total bill each billing period (which is likely to add upto much more than the interest you will earn over 12 months).
HTH
MP
I have a poll / discussion on Economy 7 / 10 off-peak usage (as a % or total) and ways to improve it but I'm not allowed to link to it so have a look on the gas/elec forum if you would like to vote or discuss.:cool:0 -
Adding to the aboce, could you combined the two? Is there an account that would let you set up a DD, and pay that kind of interest, then you get the best of both worlds.0
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