It’s not always easy to find ways to save money, but it’s a necessity for most people in order to build emergency savings, avoid debt, and even increase retirement savings. While there are many ways to save, reducing energy costs allows for ongoing savings.
Turn down your heat or A/C
You might think that this is a myth, but it really does make a difference. Even if you turn down the heat or air conditioning by just a degree or two, you will see lower bills. Also, turn it down when you don’t need it, such as when you’re sleeping, at work, or out of town. If possible, get a programmable thermostat and set it for different temps for different times of day.
Fix that leaky faucet
Drops of water are essentially money going straight down the drain. And if you have multiple leaky faucets / the more it drips, the more it’s costing you. So get them fixed asap.
Turn off the lights
Turn off lights and other electronics you’re not using. If you get in the habit of doing so when you leave the room or the house, it can add up to big savings. When you get up in the morning only turn on lights that you need. Bonus tip: use energy efficient light bulbs to save even more.
Use cold water more
Instead of warm or hot water, use cold(er) water to save money. Why? Because about 90% of the energy your washing machine uses is from heating the water, according to ColdWaterSaves.org. Taking regular cold showers isn’t realistic, but just like turning down your heat, taking slightly less hot showers will save you money.
Wash Full Loads
It is inefficient and therefore costly to wash multiple small loads of laundry or dishes. So fill up your washer, sink, and/or dishwasher instead of wasting water and time with smaller loads. Also, for more delicate clothes (or more), hang them up to dry instead of using the dryer and use the air dry mode on your dishwasher.
Author Elaina Johannessen is a Program Director with LSS Financial Counseling.