plonkee money an english-er's thoughts on personal finance

September 17, 2008

stealing ideas: the least important bill

Filed under: frugal — Tags: , , — plonkee @ 9:59 pm

Does anyone else go through phases of reading different blogs? After months of barely scanning it, I’ve started reading the other most popular personal finance blog again, the simple dollar. In particular, one of Trent’s latest posts about the least important bill caught my eye.

how many monthly bills do I have?

I’m sure that I’ve mentioned my bills before, but I’ll just think about them now. In order of importance:

  1. council tax
  2. mortgage
  3. house insurance
  4. water
  5. electricity
  6. gas
  7. disability insurance / income protection insurance
  8. musical instrument insurance
  9. phone
  10. internet
  11. mobile phone
  12. tv licence
  13. magazine subscription
  14. accident insurance

As a blogger and internet junkie, the ‘net connection is actually more important to me than the landline, it’s just that I can’t get the internet without the phone, which I barely use. I also note that I have quite a bit of insurance going on. And not that much in the way of extra regular costs.

Not all of these are monthly, some are annual but they all recur. The magazine subscription stops me buying ridiculous quantities of glossy house magazines, and so was well worth spending £12 on. And even though I don’t watch very much tv, I’m not quite ready to give it up yet.

could I give up the least important of these?

Actually yes. I probably should cancel the accident insurance because I got suckered into it by the salesperson (yes, we can’t all be sensible all the time). This will have to go on my list of things to do!

what about you?

If you order your bills from most important to least important, could you get rid of the one on the bottom of the list? I defined importance as the consequences of not paying – jail is worse than homelessness for example, so council tax comes at the top of my list. You might want to order your list differently, and you don’t need to worry too much about the top of the list anyway, it’s the bottom that you need to concentrate on.

Let me know in the comments how you get on.

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