Do you take advantage of pay in advance programs that are available for some utilities? In our area, you can pay an average amount per month for electric all year round instead of having high bills some months and low bills other months. It makes it easier for some folks to keep to a budget that way. There is also a pay ahead program for propane gas, where you lock in a cheap price during summer months, so that your gas is paid for before winter arrives. You have to finish paying the whole amount in advance, but then you don't have to worry about fluctuating (i.e. rising) prices throughout the coldest months. Do you use these or any similar programs to save money on utilities?
I'm not in the position to do this right now, but there have been times in the past when I did have the funds available and I would like to do this sort of thing. I know many people will say that you're losing interest by doing so, but my bank account doesn't pay interest anyway, and I'd prefer the peace of mind of knowing that I'd have one less burden during the tight months.
Well I am still sticking with the bill at the end of the month model, but it is working fine and we are not really susceptible to those spikes tat might see in various months, and we keep it pretty consistent. That said, though, I was delighted to hear of tall the options that the companies here offer. The fixed rate is the one that I have considered, and would probably go with eventually, but for I am staying put. Thanks for sharing.
There is the so called pre-paid electricity here as an innovation of Meralco (the electric power supplier). I still have to know the nuances but from what initially learned, it is just like paying in advance and when the payment is exhausted then the electric supply will be automatically cut. I don't think that is healthy. However, I am waiting for the news that prepaid electricity will have a discount because you pay in advance, right? And if that discount will materialize perhaps we will consider that option.
These programs are such programs in my country. The only programs existent in my country are those to do with prepaid electricity but have not been rolled out yet. The gas commonly used in my country is butane. When it runs out, people take the gas canisters for refilling where they pay in advance.
The is a feature of the electricity distribution situation in my country. There are areas where you are granted the option of subscribing to the regular monthly billing cycle or you may opt for the prepaid facility. The prepaid facility is similar to what prevails with the cellular telephone prepaid airtime set-up where you purchase the need that you may require or be able to afford in advance. You purchase kilowatt hours in this case. When the hours runs out, you may top up additional hours as you may require. There is a warning mechanism which is included in the systems which alert you when the hours you had bought is running low.
Yeah, I'm not really in the position to take advantage of the prepaid gas at this time, but I would like to do so. It's a good option to have at least. It would be nice to be able to take advantage of it, because it is guaranteed that the price will skyrocket when the cold winds begin to blow. It happens every year. We still try to get gas early on before the highest prices hit. Sometimes, we just use the electric heaters if it isn't super cold. We dress warmly as well, instead of cranking up the heat. The electric option is nice too. I'm considering it. It's working well for a relative of mine who is on a fixed income.
The only real 'prepaying' I do these days is if I have some extra funds available when I hear the price of gas (for vehicles) is down, and I happen to be near the lowest priced station, I will put as much gas as I can in the tank, because you're right, the price surely will go up. Inevitably, the gas prices rise around major holidays, because the companies know many people will be traveling to see loved ones, so they increase the price to take advantage of that fact.
In our country there is a scheme of security deposit with regard to electricity bill payments. You can pay some bulk money in advance and its interest would be calculated towards monthly electricity bills. If you pay a fairly good amount as security deposit you won’t be charged anything. However, a minimum amount is mandatory for all which is an average amount of electricity usage in that particular household. I have seen many families depositing high amount as security deposit and get rid of the tension of paying monthly bills. The amount is refundable when you disconnect the connection. The actual amount you deposited would be returned (without any interest) at that time. I guess it is a good program for those who have enough money to invest.
For electricity and gas consumption so far there is no pay ahead option at my location. I prefer this method of payment for utilities, once the deal is done you know you are not going to be troubled with varying bill charges at the end of the month. This makes savings easy and able to plan since after payment for that year you can better focus and pursue other achievements. I don't like being asked for payment that soon, I think paying for utilities once a year is just perfect.
My household does this. We budget a set amount of money to pay every month for each bill. By doing this, we never owe but are usually owed. At the end of the year, we request the extra that we put in and invest it or use it for other things.
