Generation rent left out in the cold when it comes to household bills

Wonderbill Smartphone

New research from WonderBill reveals Brits bill habits, with renters feeling the angst…

For the nation of renters, bill time is always bad timing. With consumers hiding from the monthly bills letters – or binging on Netflix to forget about them – new research shows that it is more than a numbers game. 

Private renters feel the most negative when it comes to household bills, the recent survey revealed. One third (33%) of Brits who privately rent feel anxious when managing their gas, electricity, water, broadband and TV bills. 29% of those living in social housing mirror this emotion when dealing with their household expenses. 

WonderBill, the new household bill management app, commissioned the research of 3000 Brits to understand how people truly behave with their household bills and personal finance. 

It came as no surprise that millennials (aka generation rent) also topped the list for feeling negative emotions around household bills, with one in three feeling anxious, annoyed and irritated by their bills. With sky-high rent and rising house prices both stunting millennials ability to save enough to get on the property ladder, it is no wonder they aren’t feeling too happy when it comes to managing multiple household expenses. 

However, bills don’t only cause stress for renters. For one third of Brits, bills like gas, electricity, water and broadband are pushed to the back of the mind – with some just chucking bills straight in the bin, others binging on Netflix as a distraction. We are burying our heads in the sand, but that doesn’t have to be the case. 

Wonderbill Infographic

Negative emotions associated with bills are holding Britain back – the reality is, if we all empowered ourselves with the right tools and managed our bills effectively we could potentially be saving hundreds of pounds a year. 

It is surprising, in an age of technology, almost half of brits who track bills still use old-school methods like notebooks and calendars, rather than apps and online tools. Using online tools not only makes tracking expenditure really quick, it also makes finding deals and switching super easy. 

There is no better time than now to transform your bill habits and be bill brave! Shane Clifford, Co-Founder and CEO of WonderBill shares his top household bill hacks, to help make sure Brits are getting the best deals and are feeling less stress and more satisfied when it comes to those pesky household expenses. 

Review to switch – Big companies often review suppliers on a regular basis to keep costs down, so why shouldn’t you with your service providers? Reviewing them regularly will help build healthy behaviours around your personal finance, and ultimately save you money in the long run. 

Rip the plaster off – Take out that box of bills and sort through them. Keeping important information hidden means setting yourself up for a fall. Having your bills easily accessible in one place – like the WonderBill app – is ideal so you can quickly check your bills without having to rummage through dusty papers. 

Pick’n’mix – If you pay for a service via direct debit it can be a case of ‘out of sight, out of mind’. Often people end up with a long list of subscriptions, a large percentage of which aren’t used on a regular basis. From your household services, decide what you need, what you like having and what you don’t use. Get rid of the ones you don’t use and make sure you get the best deals for you for the ones you need. 

Share the wealth – Encourage friends, families and colleagues to chat about their household bill management. Share tips and advice on how to save money, discuss which online tools and latest apps they use to track their bills and what the latest deals are on service providers.  

WonderBill is a new household bill management app, available to download from the AppStore and Google Play. The app allows users to manage energy, water, multimedia (TV/Netflix etc), broadband and mobile bills, all in one place. A user provides their household bill information once, and then WonderBill does the hard work for them – users see a snapshot of household bill outgoings in an easy-to-use dashboard, plus the best deals tailored to their needs (based on household bill usage and offers available) helping them to save money.

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Generation rent left out in the cold when it comes to household bills

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Written by themoneyshed

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