I’m just starting my debt-free journey and trying to lay out a budget. What are your thoughts on budget billing for utilities?
I think it’s wonderful! There’s absolutely nothing wrong with it at all. For a lot of folks, especially those in your situation, it helps smooth out utility payments and make them a little more manageable.
In most budget billing scenarios, they add up your utility bill for the last 12 months and divide that total by twelve to determine a fixed billing amount for the next twelve months. It can make things so much easier when you’re first starting to live on a budget, and you don’t have a lot of wiggle room where your finances are concerned.
I’m glad you’re taking steps to get control of your money, Ryan. You can do this!