I can go online but I just cant be bothered as I can never remember me password so have to reset it and forget when the bill is due and by the time you done that for the electric, gas, home phone and mobile I am in a right mess. So have changed most to standing order as I can add them all up and balance the budgeting out. I am not knocking DD's as they work perfectly well in a lot of cases and as others have said sometimes come with a discount if managed properly which I admit I don't and others (Wonder for one) manage them very well. I have never really managed money but now I have no choice and need to get things sorted to suit me.
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Different things suit different people. I found it easier when I opened a second Cashminder account - I transfer enough to cover my bills and what is left in the main account is mine.
Just caught up with this again as I have been at work.
I agree that it's each to his own, although I do think that most people seem to like accounts such as the Co-op and Nationwide.
As to mobile phones, I'm with O2 and they send me an email each month to tell me what my bill is and when they are going to take it out of the bank.
I always know what it is as I never go over my minutes or texts.
I'm curious though Paul - if you don't know what your phone bill is going to be, how is the budgeting tool going to help you?
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The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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I will change the payments to standing orders at a set budget and then up the payments or decrease the payments to suit how the actual spend against budget.
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My point is though, even if they text you to tell you this, if you don't know how much the phone bill is going to be until you receive it, how will be of any help?
You will never convince me that this account is the way to go. I won't pay unless I absolutely have to and I like my online budgeting, which is my online banking. All of my bills (with the exception of my council tax) are paperless, and I receive emails in plenty of time telling me what my new payments are so that I can budget for them.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
you put some more money in the account or if thats not possible you arrange to pay later. With a dd you cant adjust the payment date without cancelling DD and starting a new one up.
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So do you still have to have a bank account so you can transfer money? If you do, why not set up the standing orders from that and save a tenner a month? I'm sure Vodafone, Sky or British Gas would be well impressed if I asked to pay later!
I have never needed to do that. As I have said before, I know exactly what comes out of my account to the penny, and when.
I would be surprised if the companies are happy to have their payments later than they should be, especially if it has to happen more than once.
I had this problem with Orange a few years ago and as soon as the payment date was passed, I was bombarded with letters asking where the money was until I rang them and paid it.
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The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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the point is if you have not got the money to pay wether it be dd, standing order or pigeon post dd offers the least flexibility and if a dd is missed it costs a lot more. if you havnt got the money to pay none of them will be happy. By paying by dd it is more difficult to budget as the amount is variable where as standing order it is fixed and managed by yourself. Like Andy says he uses internet banking and is better control because he knows the amount he has asked to be paid with DD you can never be certain.
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Thankfully, I have not had a problem with DD, I know exactly what amount I have to pay each month, and if it varies, I am informed in plenty of time to put anything extra into the bank.
I don't find it difficult to budget with DD at all, I find it much better than having to worry about whether or not I have to find extra each month.
I don't have a problem with my payments at all and am managing quite well at the moment.
I believe Andy said he used telephone banking?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
