Hi im a first home renter and have just moved into a 1 bedroom apartment, i know it depends on personal use but i was just wondering for 2 people how much electricity, water + gas would be. I was hoping around putting away $500 a month for bills? I have no idea! Thanks.

Hi Kayla,

$500 will be ample to cover utilites.

Bills are charged bi monthly. You can do what is called "bill smoothing" where you can elect to have a monthly amount nominated by you debited from your bank account automatically. If you are in credit this will be noted on your bill which can be emailed.

Pay manually for 6 months and then work out your average usuage and set up bill smoothing and set and forget. Just make sure you have adequate funds in your account as bank will charge you a fee as well as the supplier.

Having a good repayment history will improve your credit score as well with the new positive reporting metrics that will be applied with greater measure in the near future.

A good credit score will put you in a strong position when you apply for finance for a car or home loan in the future.

Hope this helps?

Hi Kayla

Firstly, congratulations on moving into your own place. I would think $300 per month would be a very conservative amount to put away to cover your utility bills. To break this down further I have assumed $50 per month water use, $100 per month gas (assuming gas cooking and hot water) and $100 per month for electricity plus a $50 buffer. Electricity can vary quite a bit seasonally depending on how much you use high consumption devices like split system air-conditioning hence why I have suggested to include a buffer. You will be able to have a more precise budget once you have lived in the property for a few months and have received a couple of bills.

All the best

Amy Ferguson