Prepaid Cards to Help Pay for High Heating Bills

Published on 1 January 1970 by Raffick Marday

The cost of energy for many cash strapped Brits is a constant worry when it comes to warming up their homes during the winter months, new research shows.

A survey my Moneysupermarket revealed seven out of 10 Brits are concerned about how they can afford their heating bills, which is an increase of 15 percent since 2009.

Many are already struggling with their bills as this figure again has risen by two percent since 2009 to 28 percent of the population.

A prepaid card could help struggling Brits to keep money aside each month to spend on heating their homes so winter need not be too cold to bear.

“Recent price increases could not have come at a worse time for cash strapped consumers,” said Scott Byrom, energy manager at Moneysupermarket.

“Many more people are worried about how they can afford to keep their homes warm this winter.”

Recent price hikes from three of the UK’s biggest providers has meant the average energy bill totals £1300 with two more providers potentially increasing their rates too.

About 40 percent of the nation’s annual consumption is spent during the colder and darker winter months.

Prepaid Cards

A prepaid credit card could ensure you have money set aside for your bills, as it aids budgeting by preventing the user from spending over their budgeted amount.

The card can be purchased from banks and other retail shops for a small charge of which this is usually reimbursed once the user loads their first injection of cash onto the card.

This money the card user loads onto the card could be their weekly general expenditure allowance, or it could be for the whole month.

There is no overdraft facility so the card user cannot get into debt, but it means the money in your bank account is left untouched for any direct debit bills which may come out of it.

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