Does anyone else pay their bills yearly ?? I'm in awe at this.

[FoamingAtTheUterus]

Was chatting to a friend earlier who mentioned she was glad that we were in Feb and all her bills were done. Turns out she hoards her January salary, literally living off beans on toast and the entire lot is.stashed for her bills.......her outgoings are fairly low because she's tight careful with money so no subscriptions it TV licence etc. Also has no mortgage.

Me and everyone else were like this she said she likes it because it frees her for the year and she knows where she is moneywise. Does anyone else do this ?? I've never heard of it before but apparently the short term crap month when January is pretty crap anyway is worth it.

I get paid weekly so have a standing order going from the current account I get paid into to another “bills” current account every week. It means I’m not sitting working out how much I have to leave in the account and how much I can spend. I know that whatever is in the account on Monday is what I can spend for the week as the bills are taken care of from the other account- even if they’re not due that week- the money is there for them when they are.

@JuanSheetIsPlenty I do the same. So much easier.

But has been pointed out Plantain - surely 12months worth of all bills, comes to more than 1 month worth of net salary ?
Council Tax alone - I wouln't earn enough (net) to cover the whole year's bill.
Then car insurance is huge for some people..... building and contents ins... TV... broadband.... MOT..... phone contract.... gas / elec...... water..... then all the ones only some people have - pet insurance.... sky..... etc. One mnth's salary can't cover 12 months worth of bills, surely ?
Or, if you are earning such a huge amount, then why would you worry about bills ?

It really is. I used to get in a right mess forgetting that a bill was due and then going overdrawn.

We didn’t have a mortgage or rent to pay so that helped.

So earnings for one month matched bills for 11 months.

The person mentioned in the OP doesn't have a mortgage, car or pay TV, also assume no pets.

Assuming they just have

Council tax
B&C insurance
Basic mobile contracts
Gas and electricity
Water

The above annual costs of those for our house are about £1100 + £200 + £480 + £1000 + £400 = £3280. Mine and DPs monthly income would cover all those with a few hundred leftover, if we were minded to do this.

Council tax etc actively discouraged it.

Many OAP pay annually and have never heard any of them being discouraged from do so, nor anyone else that wants to pay

It is an annual bill split into instalments to make it easier for people to pay

Was just totting ours up and wouldn't have much change out of £20,000 for mortgage, insurance, energy, water and council tax.

So as we don't earn £20,000 in a month this isn't an option.

This feels like some kind of test as to what is a comfortable level of bills. If you could pay them all in one month you are officially comfortable

Trilbydoll our bills are low compared to most. They come to about £70 PW. And I sure as hell couldn't pay the full year on one month 😂😂😂

EVen without a mortgage, mine as a single person would be
CT - 1180
G&E - 600
Insurance - 350
Mobile - 350
Internet/tv - 750

So all in £3230 + then my service charge which is £2500

Council tax alone is nearly 2 months salary.

But council tax isn’t related to salary. For lots of people it will be considerably less for the year than their monthly salary particularly as it doesn’t go up by much for more expensive houses (on the assumption wealthier people live in more expensive houses).

The big difference here is she has no mortgage or rent to pay. Take that out of most people’s bills and it might be more possible.

And a partner to split it with who agrees with her approach and no car (so no VED, petrol, insurance etc)

She does have a partner, neither are in massively highly paid jobs tho.

My outgoings are

£120 pm council tax

£80 pm gas an electricity (( also have a young adult at home, they have no DC ))

£6 pm PAYG giff gaff SIM (( it's a revelation and more than enough for me ))

£23 pm internet with phone line. I don't use my landline tho so no calls package. Also got £120 cashback for switching.

Water works out at about £8 PW so £32 a month

TV licence is £10 pm or however much it is these days.

Insurance is £20 pm if that. Quite a basic package, we don't have much worth stealing tbh.

We pay out annually for all insurances, as and when they come up. Plus DHs London season ticket and station car parking we pay upfront....it’s a big hit when this happens as is around £6500.

Council tax and water we pay half yearly.

There's no way I could, my monthly salary wouldn't cover them. I live alone though so bills seem a lot (for things that would cost the same regardless of the number of people living here, like broadband, gas and TV licence).

Your friend must be really well off if she has basically 11 months salaries worth of money leftover after bills and a partner's income as well in the same household.

I pay insurance, water, tv licence, car tax, council tax yearly.
Gas, broadband and mobile monthly.
I usually choose yearly as it is cheaper.

If you have oil for heating then you can pay once a year.