I would be more inclined to put the bill money into one of those online saver accounts where you get good interest and pay them as they come due. Some companies wont sent out bills when the account is in credit, so if you do wish to pay in advance find that out first otherwise you wont know what is going on with that bill. Also some may not be payable in advance like rego.

What you can also do is live like you would if you had one income and save the second income. It would help you sort out what areas you need to work on financially and to see if it is possible.