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8 tips for easy student bills


8 tips for easy student bills

Here are some more top tips on how to sort bills with your housemates and make some big savings:

Bill splitting services might sound like a great idea, but the amount they charge is not worth the tiny amount of time they save you. These companies also restrict you to certain suppliers, meaning you might miss out on the best deals.

  1. Put everyone's name on the bills.
    Make sure that one person is not held solely responsible for an account. It's the best way to get everyone to pay on time, as they won't want it to affect their credit score in the long run.If you don't already, make sure you know what your credit rating is and how to check it.
  2. Get your bills sorted ASAP.
    Add it to your moving house checklistto get your utilities and bills set up as soon as possible.There's nothing worse than spending the first few weeks of uni without internet, and some services such as phone line installation and broadband activation can take several weeks. Some companies only offer 12-month contracts as a minimum. If you set up your account late, you may end up paying for months when you've moved out and aren't even using the service.
  3. Always read the small print.
    Getting stung by surprise installation costs and price hikes can be a real shock, especially when you haven't budgeted for it. Make sure you know exactly how your contract works and what charges you might be lumped withbeforesigning up to anything. We've already decoded most of the small print for you in our bills comparison guides. You're welcome!
  4. See if you can get bills included in your rent.
    If you can come to an agreement with your landlord, it may be cheaper and less hassle to include all bills in the overall figure for your monthly rent payments.In our latest National Student Accommodation Survey, 61% said they had energy bills included in their rent. Especially with prices at an all-time high, it could work out better for you.It might be too late at this stage, but it's worth asking about it the next time you're looking for a new place to rent.However, remember that it's not always cheaper to get your bills included in the rent. Keep track of what your monthly bills usually are (or make an educated guess), and see how the cost compares to the landlord's offer of including it in the rent. There's a chance they'll be trying to overcharge you. And if you use too much energy, your landlord could charge you extra. Make sure you check your contract before you commit.
  5. Pay your bills on time.
    Communication with your housematesis essential from the very beginning. Calling a house meeting down at the local pub on day one to discuss this stuff over a beer is a great way to sort out how you are going to split the bills. What's more, it stops it from feeling like a horrible task no one wants to agree to. Keep the communication going throughout the year and make sure that anyone who makes a late payment knows that they can't do it again, or it will affect everyone involved.
  6. Set up Direct Debits and standing orders.
    If you know how much your bill payments will be each month, you could ask everyone to set up a standing order to your bank account. It will save you the hassle of chasing people up every 30 days. It's also worth noting that paying your energy providers by Direct Debit could also save you a few quid by way of a discount. And it'll help build your credit score.
  7. Split the bills monthly.
    This is an important point to stress. It applies to bills like water, which you'll usually receive every six months (but you can request a certain payment frequency, such as monthly). It's best to take money from your housemates or pay them each month if possible. This will help you to budget and pay in smaller chunks, which is much kinder on the purse strings than being surprised with a bill when you least expect it.
  8. Cancelling your contract.
    Be aware that there are usually high cancellation costs if you end your contract before the minimum period (typically 12 or 18 months). At worst, some companies will force you to pay the remainder of the contractin full. On the other hand, short-term contracts can involve higher monthly pricing or installation fees. So our top tip is to calculate contracts as a full price for the entire year (rather than month by month). This way you can see which will be cheaper overall.

Sources

Save the Student
8 tips for easy student bills


8 tips for easy student bills

By Save The Student
Save The Student is the UK's leading student money website, helping you budget your money, make sense of student finance, look for part-time jobs, find extra funding and more. Founded in 2007, the website provides free and impartial guides, tools and verified deals to tackle the real-life money problems students face at university.

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