How should I organise my utility bills?

Organising bills, especially when splitting amongst multiple housemates can be a big task. There are two main options when it comes to sorting out your utility bills - handling them personally or outsourcing to a third-party company.

Both ways of organising your bills have their good and bad points and you should really consider what's going to be best for you when deciding.

We have compared the methods for you in a helpful blog! To read this, click here

Details

Whilst some properties do come with bills included, a lot of them don’t so it is your responsibility as the tenant to carry this out.

Let's look at the advantages and disadvantages of using a third party company or handling it yourself.

Using a third-party company to organise your bills:

Advantages:

• Convenience: A third-party company can take care of all your utility bills, making it easier for you to manage your finances and ensure that your bills are paid on time.
• Cost saving: Some third-party companies may negotiate better rates with utility providers or even work with local suppliers, potentially saving you money.

For example, Fused is a company trusted by lots of students and offers all-inclusive packages and sustainable energy options.

• Time-saving: By outsourcing the task of managing your utility bills, you can free up time to focus on your studies and other responsibilities.

Disadvantages:

• Fees: Third-party companies often charge a fee for their services, which can add to your overall costs. You can compare options to see which company offers the smallest fee, but if your budget is tight, this may not be the option for you. The great thing about Fused is they don't charge a fee!
• Lack of control: You will have less control over the process and it may take longer for any issues that arise to be resolved.

Organising your bills yourself:

Advantages:

• Control: By managing your utility bills yourself, you have more control over the process and can ensure that everything is being handled correctly. This therefore means you can easily see if there are any issues, and hopefully resolve them sooner.
• Responsibility: Managing your own bills from as early on as possible can help you develop good financial habits and take responsibility for your own finances. Learning the process in a more hands-on way can help you in later life.

Disadvantages:

• Time-consuming: Managing your utility bills can be time-consuming and may take away from other important tasks such as your actual degree!
• Lack of expertise: Whilst it can be beneficial to learn from experiences in university such as handling finances, you may not feel comfortable doing so just yet.

If you are ever struggling financially, reach out to your utility provider as they may be able to offer you a payment plan or other assistance. Alternatively, speak to your universities available services for further help.

Ultimately, whether to use a third-party company to manage your utility bills or to pay them yourself depends on your personal circumstances and preferences.

Here’s a huge guide that covers everything you’ll ever want to know about student bills from our partner, Fused!