Does anyone use equal billing for paying their bills?
We have a monthly car payment and our farm insurance is paid monthly as well, but other companies and the property tax offer equal billing options.
If we were to go on equal billing for the hydro we would more then likely get a rebate in December because they have our billing rate too high.
I would however like to get rid of that huge bill for car insurance due Jan and June each year. To equal bill would cost me about $12. a year for administration fees. I think this is a bit high and so have been paying it when it comes due and reducing grocery& gas amounts that month because it is a sucker of a bill.
Anyway just wonder what people all have on equal billing and how it effects their monthly budget.
Our auto insurance is billed monthly. Yes, we do have to pay $1.00/mo. for a service fee, but I would rather pay monthly. I consider the insurance as a regular monthly bill this way. If you don't want to switch to monthly billing, you could put whatever the monthly payment would be into a separate account each month and then use that money to pay the insurance bill when due. If you don't have the discipline to do this, then maybe switching to the monthly billing makes more sense.
Dh has money automatically deposited to a savings account each pay check for insurance, property tax, home owners association fees, life insurance deductibles etc. All of these are annual or semi-annual bills. This way it is taken out of our account and we are saving for it monthly without the cost of paying for it monthly. Besides, we can make interest on it this way - not much but every little bit helps!
Dh has money automatically deposited to a savings account each pay check for insurance, property tax, home owners association fees, life insurance deductibles etc. All of these are annual or semi-annual bills. This way it is taken out of our account and we are saving for it monthly without the cost of paying for it monthly. Besides, we can make interest on it this way - not much but every little bit helps!
We do the same every pay day we put some in our savings for the yearly, semi-annually, etc. My feeling is why pay monthly and pay the extra fee or let them have your money and collect the interest when I can collect it. Just My Opinion (JMO)
We are on the equal billing plan for electric and natural gas.
We put money away every pay day for: car insurance/repairs; vacation; kid's college educations; and savings. It's an automatic transfer from our paychecks so we never see it nor 'feel' it.
Dh has money automatically deposited to a savings account each pay check for insurance, property tax, home owners association fees, life insurance deductibles etc. All of these are annual or semi-annual bills. This way it is taken out of our account and we are saving for it monthly without the cost of paying for it monthly. Besides, we can make interest on it this way - not much but every little bit helps!
Equal Billing
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