Budgeting advice

If you have managed a household before, you’ll already know about the bills and costs involved in running a home. However, if this is your first housing association home, the cost of some of the things you need to pay for might come as a shock. 

On top of your rent and service charge, you’ll also have to pay your council tax and your utilities like gas, electricity and water charges. If you’re not prepared for this, the costs can all add up quite quickly.

Once you’ve worked out how much money you need to run your home versus the money you have coming in, you’ll be able to start working out a budget for regular bills and costs.

You’ll have to pay the following bills – most of these will come out of your account every month.  

• rent and service charges

• council tax

• water 

• electricity and/or gas, depending on the heating in the property

• council tax

You might also need to pay for:

• internet 

• phone bill

• home contents insurance

• TV licence

• Your rent is a charge for living in a property

• Your service charge is a charge that covers the cost of looking after communal areas outside your property, like gardening or repairs to the lift. You will always be told if your property has a service charge and what this is for

You have to pay your rent and service charges on time – you can check when this is in your tenancy agreement. Sometimes it can take a few days for a payment to come out of your account, so it’s a good idea to pay a few days before you need to. 

There are lots of ways you can pay your rent and service charge, but for most people, Direct Debit is the easiest and most convenient.

Once your Direct Debit is set up, the payment is automatically taken from your account on the same day each month – so you don’t have to remember to do anything. And if your rent changes, we can update your Direct Debit for you. 

If you don’t want to pay by Direct Debit, that’s fine. You can also pay online, over the phone through allpay, by standing order, in cash, or by swipe card. 

You can find out more about these in our Ways to pay your rent leaflet on our website or by contacting us – drop us a line via the form on our Contact us page. 

It’s important to be comfortable in your new home, but before buying lots of new things before you move in, double-check what items you already have, and work out a budget for the rest. 

• furniture i.e. bed, sofa, wardrobe, tables and chairs

• carpets or rugs

• curtains

• cooker 

• white goods i.e. fridge, freezer and a washing machine 

• bedding 

• towels

• television

• crockery 

• cooking equipment i.e. pots, pans and utensils

Don’t forget to check second-hand websites or charity shops in your area too.

Depending on your circumstances, you might be able to get extra support from organisations that could help you source furniture. Drop us a line on the form on our Contact us page and we’ll get back to you as soon as we can. 

Buying furniture on credit

Beware of companies that offer pay weekly deals on furniture, which may seem like a good idea but they often charge high rates of interest and you end up paying far more than the items are worth.

Depending on your household income, you might be able to get benefits to help you pay your rent and service charges like Housing Benefit or the housing element of Universal Credit.

If you receive Universal Credit, any housing element will be included in your single monthly payment. You will then need to budget to pay your total rent from your income.

If you’re able to claim, you can ask the council to pay it to us directly – but if the amount you receive is less than you need to provide, you’ll need to find a way to pay the shortfall. 

For example, if your rent and service charge was £80 a week, and you receive £68.80 a week from Housing Benefit, there’s an £11.20 shortfall a week. 

How much you’re entitled to can be affected by several things, like if someone lives with you who’s supposed to help you pay your rent (even if they don’t). 

Your benefits can also be reduced if you live in a house that has more bedrooms than you need, like if you’re a single person in a two-bedroom flat. This is why when you’re looking for accommodation, you should always make sure your home is the right size for your household.

Our friendly team can help you work out which benefits you’re entitled to. Get in touch with us now via the form on our Contact us page. 

You can also get help from organisations like Turn2Us, the Citizens Advice Bureau, or advice from Gov.UK.

Council tax is one of the ways your local authority raises the money they need to provide you with services like:

• collecting your bins 

• street lights 

• road maintenance 

• local libraries

Council tax is charged on all properties that have someone living in them. The cost is worked out based on the property’s value and what band it falls into, i.e. Band A. A full council tax bill is based on two people over the age of 18 living in the property

What council tax band is my property in?

To check which band the property falls into and how much the council tax will be, you can usually find out online on your local council’s website, or get in touch with them. 

Can I get my council tax bill reduced?

Your council tax bill might be reduced if 

• you live alone 

• you are a student 

• you are disabled

If you’re unsure about how much you need to pay, check with your local council. 

Every property has its own water supply, which residents need to pay for. In England and Wales, there are over 20 water companies that supply this service. Each one has different rates, and you can’t switch your water company. 

To work out which water company supplies your postcode, you can use Water.org.uk’s Find your supplier tool.  

Once you know who supplies your water, you’ll have to ask them how much your bill will be and set up a payment plan. 

How are water bills calculated?

Water charges can be calculated in two ways. They can be worked out based on an estimation of how much water the company thinks you’ll use based on the size of your property and how many people live there. Alternatively, if a water meter has been fitted, it will be based on how much water you actually use. 

If your home has a water meter fitted, it cannot be removed. 

In some of our independent living schemes, your water bill may be included in your service charge.

To use electricity in your Accent home, you’ll have to pay the company supplying it. Some of our homes also have a gas supply for heating and cooking, which also needs to be paid for. In some of our independent living schemes, electricity and gas might be included in your service charge. 

Saving money on your bill

Paying by Direct Debit, switching to online paperless billing or opting for the same supplier for both gas and electricity (known as duel fuel) can often save you money on your bills. 

Once you’ve moved in, check to see if you’re on a pre-payment meter, and investigate via a price comparison website if a billed meter might be cheaper, even if you have to pay to get one.

Knowing how to be energy efficient in your home can also help to reduce costs. 

When to submit a meter readings

Don’t rely on the estimate your energy provider has outlined in your bill which can be inaccurate and lead to surprise bills at the end of the year or overpaying year round. Instead, every time you receive a bill, submit a meter reading. 

You can get more information on on gas and energy bills and swapping your supplier on Energy Helpline and USwitch.com.  

It might be tempting to skip getting contents insurance to save money, but it’s important to ask yourself what you’d do if your things were stolen or if there was a fire. The amount you have to pay for contents insurance depends on the amount of cover you require.

If you need contents insurance or you’re looking to move to a different insurer take a look at the ‘My Home’ policy. It’s been designed for tenants by the National Housing Federation, a charity that represents housing associations. 

There’s another type of property insurance called buildings insurance, but this is usually the responsibility of the landlord. 

If you have a TV or device where you watch live television, then you’ll likely have to pay for a TV licence. The only exceptions are people over the age of 75, and people who are blind, who are entitled to a 50% discount on their TV licence.  

The TV Licence team may contact you about buying your TV licence and will visit people they believe need a licence but don’t have one. 

Satellite, cable, streaming or subscription services are nice to have, but they are optional – and can be expensive!

If you do want to subscribe, make sure you use a price comparison website to check costs, as packages vary. 

When working out the final price, check it includes any charges for line rental for your broadband and telephone line. Finally, beware of short-term discounts – prices can double after an introductory offer expires and can work out as more expensive over the whole year.