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So this month and next I save having to pay 2 lots of council tax each month and also water rates, so £500/month better off.
NB I assume it's pretty common as both Cambridge City and Richmond (Yorkshire) do payments over 10 months....
I always wondered why they schedule it like this, everything else you just pay 1/12 per month - so why the 10 month thing?
Our Council do the same, but you can also pay over 12 if you want...
Typically in our house we'll use the extra cash for a deposit on our summer hols.
Council (Falkirk) here the same - they give the option of over 10 or 12 months. Nice for post-festive recovery period for some I guess.
Yeah our council do a 12 month option
Always been fascinated by people that do the 10 month option and like to discuss what they do with the ‘extra’ cash on those other 2 months
I pay my car insurance yearly, the other 11 months I put the £350 towards overpayments on my mortgage. Genius
Pretty standard I think. Not sure why- probably dates back to some medieval law.
It has always been 10 months for me. I don't recall ever seeing a 12 month option.
Always thought it coincided nicely with the months where energy bills were higher.
But its more likely going to be to get the money to the councils well before year end so they can spend it.
The economics/social engineering of manipulating people who must spend their entire income each month is complicated.
Possibly an accounting thing where having two months spare at the end gives late payers a chance to catch up and so all 21/22 income is received in the correct financial year
Always been fascinated by people that do the 10 month option and like to discuss what they do with the ‘extra’ cash on those other 2 months
I didn't know we had an option? I thought it was 10 months or in a single lump sum.
Always thought it coincided nicely with the months where energy bills were higher.
Or recovering from Xmas spending (although a month late).
Makes the mafs easier for the thick cooncil employees innit.
I didn’t know we had an option? I thought it was 10 months or in a single lump sum.
Yeah it's a fairly recent thing here, I went straight onto the 12 month but the amount of people that stuck with the 10 month one so they have the 'extra cash' is quite incredible
Well, I re-did my Maths GCSE a few years ago and considering the level of the (adult) individuals in the class I'm not actually that surprised 😀
I always assumed, like dc1988, that it was to do with accounting and year ends etc.
It's so you can use man maths to justify a new bike once a year with all the money you have save...
Our council has implemented the "free" month by debiting us the usual amount and then refunding it, with no explanation as to why. The ways of local councils are indeed mysterious. I expect they'd put it down as one of the "efficiencies" of moving to a unitary council but it must have been interesting for anyone without a few hundred spare pounds in their account.
Yeah it’s a fairly recent thing here, I went straight onto the 12 month but the amount of people that stuck with the 10 month one so they have the ‘extra cash’ is quite incredible
Well, I re-did my Maths GCSE a few years ago and considering the level of the (adult) individuals in the class I’m not actually that surprised
Whatevs. 😉
I'm a former Commercial Manager for a large Bank and I take the 10 month option to get the 'free months' because I understand that personal finance is as much about psychology as it is mathematics.
In a similar vein, we also over-pay into our Childcare Voucher scheme every month to cover the cost of summer hols.
Madness I know.
Always been fascinated by people that do the 10 month option and like to discuss what they do with the ‘extra’ cash on those other 2 months
NEver used to be a choice... that's how it was.
I find it helpful (essential) to pay the winter gas and electricity bill. If you have to budget to the pound each month it can be helpful.
Not everyone on ten months is thick, some people just don't have as much cash.
I'd love PAYE to be 11 or 10 months too, I appreciate I'm still paying the same amount across the course of the year, but those non-paying months would feel like Christmas!
I find it helpful (essential) to pay the winter gas and electricity bill.
Used to do that, but now pay a set amount per month for power too, given the rising prices I suspect having some extra will come in useful though!
on a similar note in Spain do they not get 14paycheques? an additional one at christmas and summer?
or maybe Jose was winding me up
I used to work for a company that gave luncheon vouchers on a 13th's basis, every month you go 1/13 and then double bubble in Dec (you could spend in supermarkets and hence get the Christmas shopping slightly cheaper)
I now do it with the kids' pocket money.
Yes that happens but IIRC not universal
Same in the netherlands - you get a 13th month every year
We've just moved to a new county, so we had the joy of paying 3 months up front to take us til the end of March.
Two months without it would have come in very handy just now 😂 And where we came from it was 12 monthly DD, so not due a rebate from them either 😣
Pay mine upfront in a lump sum so never have to worry about it for a full year