Finance
woman budgeting with receipts
August 12, 2016

How to Save Money on Household Utilities

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Somehow not matter how much we work we never seem to make enough. Most of our hard earned money goes to rent and utilities. Here’s a few tips on how to save money on household utilities and if followed wisely, experts say these techniques can save you up to 40% on your annual total. Not too bad, sure does free up money to be spent elsewhere or to be wisely saved for a rainy day.

Cable, Internet and Phone Bills

Let’s be real, we cannot exist without entertainment, information and communication, but that doesn’t mean we need to spend an arm and a leg paying for it. Here are a few ideas and ways to cut down on your ‘survival’ package.

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Cut Down Your Cable Channels or Bundle Your Services
If you notice there are more than a few channels you NEVER watch call your provider and negotiate eliminating these channels. They they try to push you into another package try shopping elsewhere or subtracting one of your own channel packages. If you CANNOT live without your cable try bundling your internet and cable services.

Cancel Your Home Phone
Many people have decided to rely solely on their cell phones and have removed their landlines in a bid to save money. Though there is a back and forth as to whether one should disconnect their landline altogether, I personally haven’t had one in over five years and have never missed it. Just eliminating your landline could save you $240 or more a year.

Cancel Your Cable
If you are able to survive without cable there are many, many alternatives out there like Netflix, Amazon Prime, and Roku just to name a few. Cutting out cable can save you anywhere from $500-$1500 or more a year.

Electricity Bills

This is probably where we get hit the hardest when it comes to bills. Between heating, cooling, and appliances we are constantly running electricity. Here are a few tips on how to save on your electricity bill.

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Replace Your Light Bulbs
Make sure to replace ALL your existing light bulbs with LED bulbs. Not only do they last around five years, you could save up to $50 a year by replacing only 15 bulbs not to mention the reduced energy it uses saving you hundreds of dollars a year.

Unplug Appliances
Believe it or not your plugged in appliances generate ‘phantom electricity’ which consumes little watts but adds up as more appliances are plugged in 24/7. Unplug microwaves, fans, table lamps, tv’s (and the list goes on and on) when they are not in use.

Set Your Water Heater to 122 degrees
Manufacturer’s usually set your water heater for a 140 degrees. You can safely lower it to 120 degrees and still get all the hot water you need while saving up to 6% on your electric bill. Just be sure to NOT set it below 120 degrees.

Save Money on Heating and Cooling
Insulate your house by covering any holes or cracks near windows and doors that way you keep warmth or cool inside your home. Use fans when possible instead of the AC and close windows during hot days to keep cool air in and the hot air out. Set a programmable thermostat to start heating or cooling only when you are home.

Clean Filters Regularly

Be it the filter on the dryer or the AC filter or even the water filter. Making sure they are clean and changed when due will greatly reduce energy usage.

Water Bills

Strange but true if we were to limit our showers to just 10 minutes a day we could save anywhere from 10-20% a year depending on family size. Saving on water is difficult but here are a few things you can do.

[gallery_image src=’http://uploads.dailyinspire.com/wp-content/uploads/2016/08/11022800/dripping-water-from-faucet.jpg’ img_class=”size-full” ]
[source url=”http://i.telegraph.co.uk/multimedia/archive/01531/water_1531846c.jpg” source=”telegraph.co.uk”]

Adjusting Your Sprinkler Settings
During cooler, wetter months you can save money by having the sprinklers go off less frequently or for less time per session.

Set Laundry/Dishwasher Settings Appropriately
Many laundry machines automatically adjust water output to laundry weight. If your laundry machine does not make you sure you adjust load size to smaller when necessary in order to save water. Pit dishwasher on economic mode soit uses less water.

Fix Leaks Immediately
This may seem like a no brainer but you’d be surprised how often these types of ‘things to do’ get continuously pushed back. A leaking faucet is money going down the drain, literally.

 

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