Most of us have a good idea of our regular monthly costs - things like rent, insurance payments and loan repayments are pretty fixed. But energy bills like gas and electricity typically come out each quarter and can be unpredictable depending on your energy usage and the time of year, putting a different demand on your budget.
Do you like earning cashback? Us too - in fact, it's why we decided to add bill smoothing to RentPay. Simply pay your bills in weekly, fortnightly or monthly amounts through RentPay, and you can start earning $3 per week for one bill and $5 per week for two.
It's easy to get started:
So if your energy bills are currently sparking more anxiety than joy, bill smoothing through RentPay is a smart way to handle your money. But let's start with the bill smoothing basics.
'Bill smoothing' is a feature that lets you make your bill payments weekly, fortnightly or monthly rather than all in one, often expensive, lump sum.
It works by spreading or 'smoothing' out your estimated annual cost throughout the year with regular instalments.
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Like most people, you probably flirt with the heating in late autumn and crank it in winter before your aircon works double-time in the summer heat.
Effectively, bill smoothing removes the peaks and troughs that come with seasonal use, so you can make consistent payments towards your bills across the year, as shown in this handy graphic.
Imagine your annual electricity bill totals $1,560. On a regular cycle, you'd pay quarterly bills in various amounts. But you'd pay $30 weekly on a bill smoothing plan— no bill shock in sight.
100%. Bill smoothing is a great way to put one of your major household expenses on autopilot, which works in your favour in several ways.
Not only does it make your energy costs more predictable, but it also helps lower the financial impact of any scary seasonal power usage.
Smaller amounts, paid more frequently, mean less hit to your budget during high usage times. The reason? Your bills will be covered by credit you've built up when your usage has been lower.
Armed with the knowledge of what you can expect you'll pay for energy from one billing period to the next (assuming your actual usage remains in line with your estimated usage), you'll be able to easily manage your budget and reduce bill stress. Win-win!
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But did you know RentPay could also make paying your energy bills a breeze and reward you in the process?
RentPay bill smoothers who make payments towards their electricity and gas bills get $5 cashback into RentPay every week - that's $260 a year! Want this deal? Connect your gas and electricity through our partner Origin to get started.
As the cost of living goes up and we face escalating energy prices, choosing bill smoothing through RentPay is a smart move for renters.
Choose to pay your Origin gas and electricity bill weekly, fortnightly or monthly through RentPay to make life easier and remove unexpected costs from your budget.
When you sign up, RentPay will show you an average gas and electricity cost based on where you live. You can use this estimated amount or customise your amount, based on an energy-use bracket for your household.
Want to know more about RentPay's bill smoothing feature? Our team is available Monday to Friday on 1300 797 933.
Choosing bill smoothing is a great way to manage your energy costs efficiently and remove potential bill shock after seasonal peaks.
Bill smoothing through RentPay helps you take control of your energy bills, and rewards you for being a great renter and paying your bills on time.
It's that easy!