If you’ve ever had an apartment or a home, you are all too familiar with the term utility bill. It’s that obnoxious thing that comes in the mail every month. You probably know that you are paying a good bit, but do you know the exact breakdown of a utility bill? Most people don’t. In this informative blog post, RateCompare.it will tell you all about what exactly a utility bill is, what household bills don’t constitute utility bills, how utility bills can impact credit scores, how utility bills can provide proof of residency and also proof of address, how to reduce your utility bills and lastly, how to set up utility bills in a new abode. After reading this blog post, you will be a utility bill master!
Firstly, what exactly is a utility bill? Well, your utility bill is a reflection of the costs of running a home, which typically includes: electricity, gas and water. You cannot live without these three vital processes. The utility bill is a good reflection of your energy consumption, and the amount will vary with one’s usage. However, government often regulates how much utility companies can charge. Another thing that is important to realize about utility bills is that electricity, energy, gas and utility bill all convey the same thing. They cover electricity, gas and water. They don’t cover phone, TV or internet use. They also don’t include rent, credit card payments, insurance or anything else really.
However, like any other bill, they can impact your credit score, meaning, they often share payment with credit companies. If you have a history of always paying your utility bill online, you will have an easier time when applying for a credit card or loan.
Regarding setting up a new relationship with a utility provider when you move into a new house or apartment, you simply must contact a reputable provider who can help you secure great coverage at an low price. You simply have to notify the provider of your address to begin a relationship with the energy company. A great thing about receiving a utility bill every month is that it can be used for proof of residence/proof of address as it is sent to you monthly at the same address.
Probably the biggest thing people want to know about regarding utility bills is how one can save on the exorbitant amount they are paying for their utilities on a monthly basis. Well one, you want to make sure your provider isn’t jipping you. One of the reasons the government regulates energy provider companies is that a lot of larger providers are guilty of charging exorbitant costs. Once you feel secure with the provider you have selected, there are a few things you can do on a household level to help you cut down your utility bill each month. It is especially important to adopt the forthcoming tips and tricks during the winter as that is when people often face the largest utility bills. A few tips include: using blankets and clothes instead of running high heat all day, only heat rooms you are in, turn off appliances you aren’t using at the wall, install insulation, turn down the thermostat (even 1 degree can make a huge difference in terms of savings), turn off the thermostat if everyone is leaving the house and blocking off heating and cooling vents.