I have been using a "Bills" account where I transfer bills money each week and the companies just direct debit money from the account at random times throughout the month. However, I don't know if I really like this system. I have tried bpaying but I kept forgetting to pay the bills
What system works best for you? I saw something on here a little while ago about U-bank - is that for bills or just savings?
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19-04-2012 22:35 #1
How do you pay your bills?
19-04-2012 22:40 #2
I work out an approximate amount for each of my bills per pay period and organise automatic recurring bpay payments for each bill - eg, my phonebill is between $70-$80 per month so I pay $40 per fortnight towards the bill, direct to Optus.
Setting it up yourself through your Internet banking as a recurring transfer means that if you have something come up and need to skip the payment on something that week then you can do it without having to call anyone and ask their permission.
I need to know where my money's at at all times. I couldn't handle having direct debits coming out of an account at odd times of the month.
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19-04-2012 22:42 #3
I pay them as they come in (Telstra, gas, water, electricity, rego...) our rent, car repayment and loan are paid monthly by manual transfer. Insurance is left in a bills account for direct debt.
Last edited by headoverfeet; 19-04-2012 at 22:46.
19-04-2012 22:47 #4-
- Join Date
- Nov 2008
The bill arrives and sits on the kitchen sink until its paid. Usually done within a few days.
DF pays it through his bank account through Bpay.
Internet gets taken out of my bank account automatically every 3 months but may have to be taken out of DFs account now that my CL payments have been stopped.
19-04-2012 23:14 #5
All my bills are paid weekly . So on pay day I pay gas, electricity, phone bill , water bill based on my " easy pay agreed amount " that I arranged with the bill company .
Bills such as car and home-insurance , car regos and house rates are also put away weekly into an account so that when the bill comes around I have the money there to pay it .
I really couldn't afford to do it any other way, getting a big bill at once would really set us back !
19-04-2012 23:16 #6
Break all bills into weekly amounts and transfer each on pay day so when bill arrives it is already paid and sometimes in credit . Electricity I do through centrepay fortnightly from my centrelink money though and works best for us
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20-04-2012 00:10 #7-
- Join Date
- Feb 2010
- Home, where my life lies waiting, silently, for me.
Our everyday accounts are with stgeorge, a transaction and 2 bills accounts (1 is for yearly bills ie PHI, Car reg, insurance, the other for phones/internet/gas/etc)
I pay x amount into each every week/fortnight then pay the bills from them. They are high interest accounts.
We currently use our ubank for savings, but will be moving it soon as the interest rate isnt that good lately.
20-04-2012 00:48 #8
I pay when i get the bill by bpay, but set the transaction to the due day of the bill.
20-04-2012 02:05 #9
But for those bills who insist on direct debiting per month, ie. insurance, asg, car, we send money to a savings acc weekly for that payment and then send money back from the savings acc when the monthly payment gets debited out, so we are never short.
I will also add, we are credit for most of our bills and some (like electricity) are only getting paid $20 a week
20-04-2012 02:17 #10
Subscribing. I am terrible at being organised with bill payments! Bpay and online banking have been a godsend for me, but I always seem to get stuck with a full sized bill each quarter because I never remember to make weekly payments, and I don't want to commit to direct debiting where I don't have to, just in case.
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