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petunias
LIF Infant
Member since 4/12 295 total posts
Name:
Petunia
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Savings/No Debt/Utilities
Silly question but it seems that many people on this board will say they save every month and have no credit card debt.
There are posts now since it is getting colder about turning on your heat and waiting until a certain date (mainly because of the price of oil).
The question is, if you wait for a certain time of year to turn on your heat (because of the price and not because you are not cold or you like the cold), do you put money into savings or have a savings account and no credit card debt?
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Posted 10/10/12 11:46 AM  |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Savings/No Debt/Utilities
I am confused. What does one have to do with the other? Are you trying to ask how you come up with the money for your oil bill??? If that's the question, I have balanced billing and pay monthly regardless of when I turn on my heat.
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| Posted 10/10/12 11:51 AM |
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ModDot
PUMPKIN ALL THE THINGS
Member since 8/11 2196 total posts
Name:
Trissy
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Savings/No Debt/Utilities
Are you asking how people pay for their oil?
I'm super confused
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| Posted 10/10/12 11:57 AM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Savings/No Debt/Utilities
Posted by retrochick
Are you asking how people pay for their oil?
I'm super confused
Oh good, it's not just me.  Weird question, right? 
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| Posted 10/10/12 11:58 AM |
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ThePinkGoose
In Your Hands
Member since 8/08 4706 total posts
Name:
Nunya
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Savings/No Debt/Utilities
I'm confused too. Will be happy to answer if you could clarify. :)
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| Posted 10/10/12 11:58 AM |
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MrsSx2
Finally a MOM!
Member since 11/10 2222 total posts
Name:
Valerie
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Re: Savings/No Debt/Utilities
Do you mean.....do we put the money we're not spending on heat (when the heat is off) into a savings account or pay our credit card?
if so, no...and we pay off our credit card every month
Message edited 10/10/2012 12:12:09 PM.
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| Posted 10/10/12 12:11 PM |
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computergirl
LIF Adult
Member since 5/05 3118 total posts
Name:
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Re: Savings/No Debt/Utilities
I think what you're asking is, do you save for the winter's heating expenses in advance, in order to afford them?
This is what we do-- when preparing our monthly budget, we actually set aside the maximum amount for utilities that we would typically need... like the amount needed during peak air conditioning or heating season. This does force us to be more disciplined in our spending, but it accomplishes two things-- we always have enough for the utility bill, no matter how high, and during the "in between" months when the utility bills are low, we find ourselves with extra money to save or spend as we choose.
Hope this helps answer your question.
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| Posted 10/10/12 12:13 PM |
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Onemoretime
LIF Adult
Member since 9/12 1077 total posts
Name:
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Re: Savings/No Debt/Utilities
My landscaping bills and lipa bills drop once end of October hits. That extra $ goes to my oil bills. I turned my heat on early and already had a 500.00 oil bill. That is why I hate putting the oil on early bc I still have a high lipa bill and high landscape payment.
I don't like to do balanced billing because I'm better off working out the numbers myself. I like to pay as I use , don't want to pay for oil all year long.
We save a set amount of cash each year that I save, and we have cc debt @ 0% right now .
Message edited 10/10/2012 1:09:56 PM.
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| Posted 10/10/12 1:06 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Savings/No Debt/Utilities
I paid for oil all summer so I will end up getting pretty much a free fill up when it comes time. We still have a pretty full tank from earlier this year.
ETA: We're on Balanced Billing for both oil and electric. I'd rather pay smaller amounts throughout the year than pay a big amount a few times a year. We do have some credit card debt but do not use credit cards to pay utilities.
Message edited 10/10/2012 7:55:15 PM.
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| Posted 10/10/12 1:12 PM |
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petunias
LIF Infant
Member since 4/12 295 total posts
Name:
Petunia
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Re: Savings/No Debt/Utilities
Sorry for the confusion as I didn't know how to word it correctly-lol.
Basically do you include heat as part of your monthly budget. I have a budget for utilities (lipa, oil and water). Since we do budget for Lipa and Oil for 12 months a year, we are able to figure out how much we put aside each month (I actually do the bills once a week so each paycheck).
If we didn't put money aside for oil and just tried to find the money when we needed it (yes, I know many people who tell me they don't know where they will find the money for their oil bill every month) we could save (or pay bills if we had them) $50/week.
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| Posted 10/10/12 1:15 PM |
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Re: Savings/No Debt/Utilities
No, I don't think any of our utilities are on a budget. My DH does the bills. Oil is COD so they don't offer a budget plan.
When we do pay it we don't take the money from savings, or put it on a credit card, it's from our checking. He figures it out, I don't get involved with that stuff.
As far as turning the heat or AC on. Heat/AC (to me) is something that you turn on when you need it. I would rather wear a sweater at home in the winter than pay for heat so I can walk around in short sleeves. Plus it's better for the environment. I wouldn't sit around cold, or let my children be cold to save money, if that's what you're asking.
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| Posted 10/10/12 1:38 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Savings/No Debt/Utilities
I'm not too sure what you're asking, but we just buy oil when we need it. I usually put it on a credit card then make a payment. I get the money from my savings. We save about 200 a week for these kinds of things. We do have other credit card debt that we are working to pay off though...
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| Posted 10/10/12 1:59 PM |
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petunias
LIF Infant
Member since 4/12 295 total posts
Name:
Petunia
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Re: Savings/No Debt/Utilities
Posted by greenybeans
No, I don't think any of our utilities are on a budget. My DH does the bills. Oil is COD so they don't offer a budget plan.
When we do pay it we don't take the money from savings, or put it on a credit card, it's from our checking. He figures it out, I don't get involved with that stuff.
As far as turning the heat or AC on. Heat/AC (to me) is something that you turn on when you need it. I would rather wear a sweater at home in the winter than pay for heat so I can walk around in short sleeves. Plus it's better for the environment. I wouldn't sit around cold, or let my children be cold to save money, if that's what you're asking.
Yes and No-lol.
I just wondered if people who say they won't turn on heat when they are too cold because it is too expensive have money in savings or no credit card debt. (basically they have money saved or save money but will suffer being cold not to have to pay that bill).
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| Posted 10/10/12 2:11 PM |
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petunias
LIF Infant
Member since 4/12 295 total posts
Name:
Petunia
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Re: Savings/No Debt/Utilities
Posted by Mrs213
I'm not too sure what you're asking, but we just buy oil when we need it. I usually put it on a credit card then make a payment. I get the money from my savings. We save about 200 a week for these kinds of things. We do have other credit card debt that we are working to pay off though...
You have money budgeted for oil. That is exactly what I was asking 
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| Posted 10/10/12 2:12 PM |
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Re: Savings/No Debt/Utilities
Our oil is on balanced billing, like LIPA. So, we pay for each each month, even when we don't get a delivery all summer. We do this so we don't get $600 bills all winter, just makes more sense for us. Has nothing to do with any other debt or savings we have.
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| Posted 10/10/12 2:41 PM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Savings/No Debt/Utilities
We have a savings, we try to put money into it when we can. We have no debt-pay our cc's in full on time. As for oil, we don't save throughout the year for it, I pay as I need it which comes out of savings if we're short the month we need it. So I guess in a way we do save it throughout the year, but I don't label it just for oil.
Message edited 10/10/2012 2:50:15 PM.
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| Posted 10/10/12 2:49 PM |
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MrsT809
LIF Adult
Member since 9/09 12167 total posts
Name:
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Savings/No Debt/Utilities
We don't do balanced billing and just got a bill for $800+ for an oil delivery. Since our checking was low I took the money from savings. We don't save a set amount each month though. We put a set amount into checking for bills and the rest goes into savings. If we need more, we transfer more in. In the past we saved more but I'm not working now so we're still trying to adjust our budgeting. As far as not turning the heat on to save money, sure why not! We don't have a set date picked to turn it on but will likely wait until it's truly necessary.
ETA- We do not have any CC debt to answer that part of your question.
Message edited 10/10/2012 2:53:28 PM.
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| Posted 10/10/12 2:52 PM |
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Re: Savings/No Debt/Utilities
We have Gas heat and DH pays all the utilities but we both budget loosely for it - we both kick in a certain percentage of our monthly take-home pay into a joint checking account which covers only groceries and utilities. If there is a month where gas heat is crazy ($200+/month for our small house), then we both split the difference and contribute to the bill from our discretionary income. It has not been a problem.
We dont have credit card debt and we both save a percentage of our monthly take home salary into savings.
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| Posted 10/10/12 7:49 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Savings/No Debt/Utilities
My heat isn't going on until at least November if possible. Only because I particularly don't care for keeping the house warm. Prefer it cool.
On the other hand, I typically run my CAC in April/May at times and I had my CAC on a few weeks ago. It might even go on tonight depending on what the temperature is in my bedroom.
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| Posted 10/10/12 8:08 PM |
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: Savings/No Debt/Utilities
We save my entire paycheck and have no credit card debt. If I am cold, I turn on the heat. I live upstate and this year, I turned it on on September 29th because my house was cold. I feel like this was early, but I am not going to be uncomfortable in my house. With that in mind, though, we keep the house relatively cool in the winter (65-68) and are always wearing sweatshirts. This year we got a wood stove so we are hoping this helps to heat up our house.
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| Posted 10/10/12 8:37 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Savings/No Debt/Utilities
I don't put my heat on until it needs to be on. If its still comfortable inside it will not go on. And if its only going to be chilly for a day or 2 I will not put it on. It's a waste IMO. I have savings and that has nothing to do with when I turn my heat on.
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| Posted 10/10/12 8:47 PM |
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gdubs
This baby is awesome!
Member since 11/10 2467 total posts
Name:
Gina
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Savings/No Debt/Utilities
Our gas and electric are on balanced billing so we know it's going to cost us around $225/month for both. The electric went up this summer but we had the AC going 24/7 so I think now it'll cost us $255/month. We pay all of our monthly bills out of one check and then save the rest or split into our other accounts... so I don't know if this answers your question but we save and pay our bills in full but don't wait to turn on the heat until a certain time of year.
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| Posted 10/10/12 9:57 PM |
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Paramount
Sweet!
Member since 7/12 4287 total posts
Name:
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Re: Savings/No Debt/Utilities
I have a monthly budget for all bills. I include oil during the summer. That way when the first bill hits (it just did) I HAVE the $1500. We get oil every other month in the winter.
Like PP says my landscaping and pool "go away" during the winter, so that $500 a month toward oil.
Myself and my husband also have no credit card debt.
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| Posted 10/11/12 9:54 AM |
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petunias
LIF Infant
Member since 4/12 295 total posts
Name:
Petunia
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Re: Savings/No Debt/Utilities
Thanks everyone and sorry the question was so confusing.
I guess I just don't get the people who will say they have money in savings when in fact, they have to dip in it all the time to pay necessities. To me, that is not savings. Savings is something that is saved and not touched unless there is an emergency.
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| Posted 10/11/12 11:05 AM |
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Onemoretime
LIF Adult
Member since 9/12 1077 total posts
Name:
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Re: Savings/No Debt/Utilities
Posted by petunias
Thanks everyone and sorry the question was so confusing.
I guess I just don't get the people who will say they have money in savings when in fact, they have to dip in it all the time to pay necessities. To me, that is not savings. Savings is something that is saved and not touched unless there is an emergency.
Not sure about others, but I have a few different accounts. The largest account is one we never touch. We have another savings for emergency/short term savings ( any unexpected bills or home improvements we decide to do)
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| Posted 10/11/12 11:14 AM |
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