Utilities generally require us to pay a fixed amount via direct debit based on an estimated usage. Often this is wrong so it could be for instance, you are over paying for electricity meaning a wealthy corporation has your money for energy you haven’t used or under paying meaning that you find that you are in debt and have to find extra cash. Of course the Utility companies do the calculation in their favour so you are generally over or pre-paying.
Of course you can avoid this by checking your bills regularly and contacting your utility providers meaning you are keeping more of your money longer. But…most of us are fantastically bad at doing this.
Brilliant idea #253 is a service whereby you pay one company that then pays the utility companies. They balance the payments so you are only ever paying the minimum to the utility company (and never over paying) and earning interest on the buffer. If you use more energy than you expected (or the utility provider calculated) then the system tells you to increase the payments.
It’s a win win for the consumer because they keep their money rather than the utility company and because it is being monitored continually there’s less likelyhood of a shock when you realise that you’ve been underpaying and you need to find a lump sum to catch-up.
Why do I share my ideas (and why everyone should share their ideas)? Click here to find out