Split the bills, student house utilities help?
Moving into a house for the second year, anyone got advice on whats the best way of setting up the bills? I've looked at Split the bills online but its £10 a week per person!
Anyone suggest other services or other options? Also none of us have a clue about setting up bills...
Anyone suggest other services or other options? Also none of us have a clue about setting up bills...
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Original post by Ryan Pearce
Moving into a house for the second year, anyone got advice on whats the best way of setting up the bills? I've looked at Split the bills online but its £10 a week per person!
Anyone suggest other services or other options? Also none of us have a clue about setting up bills...
Anyone suggest other services or other options? Also none of us have a clue about setting up bills...
I was under the impression that most students created a shared bank account with all students needing to be there to take money out (so no card) which they just paid into and then paid their bills from there.
Original post by Aph
I was under the impression that most students created a shared bank account with all students needing to be there to take money out (so no card) which they just paid into and then paid their bills from there.
We were thinking about doing that but then theres issues with credit ratings if one person doesn't put money in or if its higher than normal or something.
Original post by Ryan Pearce
We were thinking about doing that but then theres issues with credit ratings if one person doesn't put money in or if its higher than normal or something.
Not sure how credit ratings are an issue. And the other 2 issues are ones you will face either way. Generally you should probably put a little extra in every month (£5?) each just in case. And then when the year is over split it all between you.
Original post by Ryan Pearce
We were thinking about doing that but then theres issues with credit ratings if one person doesn't put money in or if its higher than normal or something.
Yeah, don't get a shared account it creates an association on your credit report, so if one of you has bad credit, it then harms your credit report too. How many of you are there? And which bills do you need to cover?
Original post by claireestelle
Yeah, don't get a shared account it creates an association on your credit report, so if one of you has bad credit, it then harms your credit report too. How many of you are there? And which bills do you need to cover?
Theres 6 of us, Cardiff Uni. We want it to cover gas, electric, water, TV licence and internet.
At the moment i think we are considering them all coming out of my bank account then them paying me back as i have a job and overdraft to cover it if they didn't pay but we are still considering doing something else if its easier
Original post by Aph
Not sure how credit ratings are an issue. And the other 2 issues are ones you will face either way. Generally you should probably put a little extra in every month (£5?) each just in case. And then when the year is over split it all between you.
See about associations here, OP could get them removed once they move out but there's quite a level of trust involved there to get one (i didnt get one with my partner for just over a year)
http://www.experian.co.uk/consumer/faq/AR3.html#q1016
Original post by Ryan Pearce
Theres 6 of us, Cardiff Uni. We want it to cover gas, electric, water, TV licence and internet.
At the moment i think we are considering them all coming out of my bank account then them paying me back as i have a job and overdraft to cover it if they didn't pay but we are still considering doing something else if its easier
At the moment i think we are considering them all coming out of my bank account then them paying me back as i have a job and overdraft to cover it if they didn't pay but we are still considering doing something else if its easier
If there were 5 of you, i would have suggested taking a bill each. But i think your idea is the cheapest, any splitting service is going to cost you something really. Would your housemates be willing to set up standing orders for their part of the bill into your account?
Yes i think so, our biggest problem is actually setting up the bills as we don't have a clue how
Original post by claireestelle
See about associations here, OP could get them removed once they move out but there's quite a level of trust involved there to get one (i didnt get one with my partner for just over a year)
http://www.experian.co.uk/consumer/faq/AR3.html#q1016
http://www.experian.co.uk/consumer/faq/AR3.html#q1016
I had no idea about that. I was always told that joint accounts were the way to go so I'm glad I've learned this before making that very same mistake!!!
Original post by Ryan Pearce
Yes i think so, our biggest problem is actually setting up the bills as we don't have a clue how
Do some research and decide which suppliers you want to go with and what deals. Then either do it online or over the phone.
Original post by Aph
I had no idea about that. I was always told that joint accounts were the way to go so I'm glad I've learned this before making that very same mistake!!!
Glad to help
I'd say only get a joint account if you're in a serious relationship with someone really. Whilst at uni you just have to figure out the best arrangement between housemates and hope they all pay up really or use a company to split it for you.Original post by Ryan Pearce
Yes i think so, our biggest problem is actually setting up the bills as we don't have a clue how
Comparison website have energy and internet companies on them, so pick the best one for you . Google tv license and set up a direct debit with them, do the same with your local water company
£10 a week is outrageous. Half that should be plenty.
Do you know and trust the other people?
Why cant you make each one of you responsible for a bill?
Have a monthly house meeting to go through expenses or get everyone to pay an amount on account?
I see Claire suggested that.
If you are going to let it all come out of your account, then you are assuming all the risk about them defaulting. You should take 50-75% of the money up front whilst they have their student loans. That way you limit the risk.
Do you know and trust the other people?
Why cant you make each one of you responsible for a bill?
Have a monthly house meeting to go through expenses or get everyone to pay an amount on account?
I see Claire suggested that.
If you are going to let it all come out of your account, then you are assuming all the risk about them defaulting. You should take 50-75% of the money up front whilst they have their student loans. That way you limit the risk.
would you suggest doing that now or when we move in, in september (water and TV)
Another issue is we are moving it at different times. one of us is going in for a few days this week and then some of us are going for a couple of days in august for resits but going home after and then coming back
Another issue is we are moving it at different times. one of us is going in for a few days this week and then some of us are going for a couple of days in august for resits but going home after and then coming back
Original post by Ryan Pearce
Theres 6 of us, Cardiff Uni. We want it to cover gas, electric, water, TV licence and internet.
At the moment i think we are considering them all coming out of my bank account then them paying me back as i have a job and overdraft to cover it if they didn't pay but we are still considering doing something else if its easier
At the moment i think we are considering them all coming out of my bank account then them paying me back as i have a job and overdraft to cover it if they didn't pay but we are still considering doing something else if its easier
Don't do it, that's the worst idea i have ever heard of and the best way to fall out with people and lose friendships when they don't pay or pay you late.
Just because you have a job does not mean you should use your own bank account unless they all pay you cash up front first. All you have to do is make sure when the bills come or are due to be paid that everyone gives cash and the person you trust goes to pay it and brings back the receipt to prove it's been paid.
I pay all those bills by paying tv licence at the post office because tv licence give you their own card or sometimes i ring up and give them my bank card details so they can take the money but i have to ring them with my bank details every fortnight or every month, I do both these things with rent, electric, gas, . I used to ring with my bank details every month for internet bill but now i just use direct debit. It depends on what your agreement with these companies to pay them are whether it's fortnightly or monthly so you can do that with all these companies. You or someone else can collect the money from everyone then you put it in your bank account then you ring those companies as soon as you put it in the bank to make a payment or ring all the companies to ask for their own cards that you use to pay in the post office.
Even with direct debit for internet i used to put money in the bank 1 or 2 days before the date it will be taken out so maybe you can do it like that but if you can avoid direct debit then do so even though it's cheaper but that should really only be for paying your own bill like mobile phone bill not for paying other people's or shared bills.
Even if I was in a relationship i would never have a shared bank account or pay on behalf of anyone else hoping they will pay me back afterwards. I would not do that for family or friends either because they could let you down too and you end up falling out with them just over money.
You must have seen all those shows on tv about people taking their flatmates, friends, family, ex partners to court for not paying their half of the rent and if you don't have a written agreement signed by all of you to pay then you have no proof and can not get your money back
Original post by Ryan Pearce
would you suggest doing that now or when we move in, in september (water and TV)
Another issue is we are moving it at different times. one of us is going in for a few days this week and then some of us are going for a couple of days in august for resits but going home after and then coming back
Another issue is we are moving it at different times. one of us is going in for a few days this week and then some of us are going for a couple of days in august for resits but going home after and then coming back
If your all moving in at different times the gas, electric, water, internet bills won't need paying straight away unless the gas and electric are on pre payment meters.
The people moving in first can pay whatever needs paying first and anyone who comes later can work that out between you all when they get there or the people who are only going for a couple of days in August then going and coming back can just pay for when they are there and if someone is covering their part of the bill they can owe it to them when they come back. Or you can all agree in writing that you will all pay your half when you do come so there is no arguments afterwards.
Original post by Ryan Pearce
would you suggest doing that now or when we move in, in september (water and TV)
Another issue is we are moving it at different times. one of us is going in for a few days this week and then some of us are going for a couple of days in august for resits but going home after and then coming back
Another issue is we are moving it at different times. one of us is going in for a few days this week and then some of us are going for a couple of days in august for resits but going home after and then coming back
Just have a house meeting or a skype chat and then work out a mutually agreed system of how to share the bills.
The idea is that it should be clear and transparent. It depends how well you know each other, but if in doubt cover your back. At the beginning everyone will listen and say they will pay. Its in then interests of everyone it stays like that, hence paying some of the money upfront.
Here are some ideas.
http://www.savethestudent.org/accommodation/guide-to-student-energy-bills.html
Split the bills isn't £10 a week, that is the one of set up fee. It is £1 something a week. Just wanted to correct that.
There's absolutely no need to use these bill splitting companies! The time and effort of doing it yourself is minimal and you'll save so much that it's worth it.
These companies not only charge you just to do some extremely basic maths etc but most of them also restrict the suppliers you can use meaning you won't be able to hunt down the best deals yourself.
As an example, a lot of broadband providers offer vouchers and freebies upon signing up that you might miss out on. Switching electricity/gas can also save you loads so you won't want to be fixed with a certain supplier.
These companies not only charge you just to do some extremely basic maths etc but most of them also restrict the suppliers you can use meaning you won't be able to hunt down the best deals yourself.
As an example, a lot of broadband providers offer vouchers and freebies upon signing up that you might miss out on. Switching electricity/gas can also save you loads so you won't want to be fixed with a certain supplier.
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