Budget Sticky #1: Budget Billing

February 29, 2008 at 11:00 am Leave a comment

March marks the enrollment period for budget billing for our local utility company. The budget billing program allows households to pay a monthly average of their annual utility costs each month. One of the trickiest categories in most peoples’ budgets is utilities because they can vary month after month. However, budget billing gives you a monthly estimate that can easily be accounted for in the budget making it much easier and convenient to manage your monthly expenses. If you haven’t signed up for budget billing with your utility company and they offer it, it’s highly recommended for those of you who are looking for ways to make monthly budgeting much easier.

How it works
If you’ve lived in your house (or apartment) for more than a year, your utility company will look at your past annual costs to devise a monthly estimate. Instead of receiving varying amounts in your bill, you pay a flat fee each month. At the end of the year, or billing period, your utility company will readjust your annual cost based on whether you paid more or less than what you actually used.

We recently received our readjustment in the mail and were pleasantly surprised. At the beginning of the year, we installed a programmable thermostat to help us cut heating and cooling costs. The pleasant surprise came when our readjustment credited us for not using as much, in utilities, all year. Our January utility bill came in at a whopping $22.00 after readjustment.

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Entry filed under: Budget Stickies, Budgeting.

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