Utilities Paid off until 2009!!!

**LexTysMommy** · 06-04-2008, 08:50 AM

This past week I decided that I would use the extra money and put toward my utilities until the end of the year instead of saving it.

I paid cable, home phone, cell phone, electric, water, and insurance until January of 2009! Felt so nice.

I have no credit card debt, student loans, or other debt besides house. No I will focus on saving everything I can until 2009! Goal is 6 months EF, but we will see how far that goes!

I was going to put extra toward the house, but since I do daycare and in Sept will only have 3 part time kids as of right now, I think its best to save up, or maybe pay mortgage in advance but no principal? Sound like a plan?

**Mom23boys** · 06-04-2008, 08:56 AM

WOW! That is awesome! I wish I could do that and not have to worry about those bills. You have a great plan in place.

**Russ** · 06-04-2008, 09:13 AM

I mean no offense by this, but why?

Why not put that money in a savings or checking and earn a few bucks interest? The pay them as they come due.

**C@rol** · 06-04-2008, 09:20 AM

That is awesome! Good for you and keep up the great work.

**IntlMom** · 06-04-2008, 09:24 AM

Good for you!! You should be able to seriously get ahead before you have to start paying bills again!!!
~I would say "Don't go crazy and spend the extra friviously"...but you have WAY to good a head on your shoulders!!
WAY TO GO!!!

**Starlight9803** · 06-04-2008, 01:45 PM

Great for you! That is wonderful, now you can really concentrate on the savings, and if something does come up, your basic needs are already covered. Congrats!

**vigilant20** · 06-04-2008, 01:48 PM

That must be quite a load off. I wouldn't have even thought to do that!

**Dad_of_4** · 06-04-2008, 01:58 PM

I do not understand why? Would you have been better to put it away as an emergency fund? Did they give you a discount for paying early? What happens if things change and you need the money? The cable could always be turned off and the utilities have programs for people in real need. It seems to me now if your income drops to $0, you will have cable, power and water, but no food or money for the morgage.

**frugalnana** · 06-04-2008, 02:33 PM

I think thats a great idea. You can still put away what you would have paid for utilities each month plus extra.

**itsahumanzoo** · 06-04-2008, 02:36 PM

Way to go! I wish I didn't have to worry about bills.

**The Muse** · 06-04-2008, 02:39 PM

Originally Posted by Dad_of_4

I do not understand why? Would you have been better to put it away as an emergency fund? Did they give you a discount for paying early? What happens if things change and you need the money? The cable could always be turned off and the utilities have programs for people in real need. It seems to me now if your income drops to $0, you will have cable, power and water, but no food or money for the morgage.

I'm wondering the same thing.

Good for you for being this far ahead of everything, but I'd like to understand the rationale of giving the $$$ to the utility companies instead of earning interest on it. ING is paying around 3% at the moment.

**dcompton** · 06-04-2008, 02:55 PM

I understand about the interest, but it can be worth a few bucks to me -- I'm sure we're not talking about a lot of interest money -- just to simplify and be done with it. I can get very, very tired of thinking about money. And it would feel good. When Francis Xavier was in India, a beggar once said to him, "A man with no possessions has his mind free as well as his hands." To me it would feel like that -- having no bills would leave the mind freer. And that, to me, is important.