We have a bill account and all our bill money gets divided up into a fortnightly amount and put into the account every pay. Even the girls swimming lessons and gymnastics plus an extra amount for school fees, excursions and uniforms etc go into that account.
We don't use that account for anything else.
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05-03-2012 14:20 #11
06-03-2012 22:54 #12Senior Member
- Join Date
- Aug 2010
What sort of account, who with, is everyone's bills account?
07-03-2012 01:47 #13
I put every bill as it comes in, into a folder that has a slot for every month. I just put the bill into the month/time frame that it's due. Hubby gets paid monthly so it's an easy system for us.
07-03-2012 06:07 #14
07-03-2012 06:29 #15Senior Member
- Join Date
- Aug 2010
I thought banks charged for bpay, only so many free ones a month?
07-03-2012 06:42 #16
Until 2wks ago the only bills i had to always make sure i had money for were my ASC fees and my phone bill as everything is through centrepay with centrelink which helps me keep on top of it all. Now paying my phone bill through centrepay and have to change my ASC to debit the night before i get paid so its paid. I find it easier to actually not see the money in my account coz if its there i will spend it otherwise.
All my bills include rent, electricity, phone and ASC fees.
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07-03-2012 08:01 #17
Hubby has a nice little system whereas he pays each bill as soon as we get it, but doesn't schedule the payment to go through until the day before it's due- if that makes sense? So no bills get forgotten (but as we use an offset account we get to keep our money in there longer )
07-03-2012 08:14 #18Senior Member
- Join Date
- May 2011
I too am one that pays all our bills via BPAY each week.
I started doing this when I was pregnant with DD in 2010.
Anyway what I wanted to say to get yourself out of trouble what we did for the first few weeks was we would pay the amount I had worked out per week to each of the bills (electricity, gas, phone, water) and then if we had a bill that hadn't been paid yet for any of them I would put an extra $50 or whatever to take a chunk off the bill I already had (I hope that makes sense?)
Here's a better example of what I mean:
Electricity bill came in at $400
Worked out that electricity costs us $5 per day - or $35 a week
Scheduled that $35 a week would be paid by BPAY regardless
Then paid $50 towards the $400 bill -
obviously you keep paying the $50 chunks until your $400 bill is paid off (so over 8 weeks) and the electricity company won't give you a late fee as you're actually paying $35 a week extra too, so a $400 bill is getting $85 a week paid off - even if your own intention is to put the $35 a week towards your next bill (which is what happens once the $400 is paid off).
FWIW I have not had to PAY a bill since DD was born a year ago, with the exception of our mobiles as that was a bit ho-hum with costs per month (although have changed that now). All of our bills now come in in credit - which has meant that just recently I was able to drop the amount I was paying towards electricity and house phone as they were OTT in credit (house phone is $350+ in credit). I didn't completely stop paying though as there will come a time when that credit will dwindle so I just reduced how much I pay in order to drop the amount of credit a bit.
11-03-2012 07:44 #19
I know NAB has one with no fee's (unless you use another Bank ATM) with unlimited transactions.
And Westpac have one that costs $5 flat fee per month with unlimited transactions but then that $5 fee gets waived if you deposit a minimum of $2,000 per month.
12-03-2012 14:52 #20
With my tax last year i paid, power, phone, internet, austar etc a month in advance
I worked out how much i needed to pay each month (eg. austar is $60 so i pay $15 per week.) it means that i am always in front and only miss about $120 per week from our income which is a hell of alot better then all at once.
I have a folder at home for rego which is pretty much the only thing i cant pay in advance and rego usually costs me about $600 per annum so i put aside $12 per week into the envelope.
Also (and this is kind of freaky organised) i buy a $20 or $25 woolworths gift voucher every time i go food shopping (once a week) It means that coming up to xmas i usually have nearly $1000 in vouchers so i can stock up on lots of goodies.
All up each week it costs me $150 per week and it has taken a huge weight off my shoulders.
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