No matter if you're renting or you own your home, there's a lot you can do to survive the pinch of rising utility costs. Here are some tips to save you money.
Utility bills keep getting more and more expensive. You're not alone in feeling the pinch! But the good news is that you can save money on utilities relatively easily. With just a few simple home improvement projects and a mindset change, you'll be on track to slashing utility bills by hundreds of dollars.
Whether you're a renter or a homeowner, here's how to reduce energy consumption to save your wallet (and the planet!).
Where does most of your home energy usage come from? Is all the electrical work safe and efficient? Doing a home energy assessment will answer those questions. It should be the first step in your money-saving journey because you'll know exactly where to act. You can hire a professional to do it or do it yourself.
Some utility companies have time-of-use (TOU) programs. That means they adjust the price of electricity used (in kWh) based on the time of day.
If your energy provider has TOU rates, use them to your advantage. Program appliances to run during those cheaper times. For example, you could run the dishwasher overnight and save some dollars.
The way your home is built could be wasting you a lot of money. As a homeowner, you should eliminate air drafts and upgrade your insulation, and there are even government programs to help you afford it. And if you're a renter, take a look at these DIY winterizing ideas.
Is your heating or cooling system on right now? It's probably costing you hundreds of dollars per year. Cut costs by learning how to heat-proof your home in the summer and cold-proof your home in winter. For example:
Don't do laundry in warm or hot water. Not only does it use up more energy, but it's also not great for your clothes. They'll last you a lot longer if you use the cold water cycle.
One of the easiest ways how to reduce energy consumption is to ditch the dryer. It uses a significant amount of power and is rough on your clothes, too. Dry them outside if the weather permits or indoors on a clothes horse.
Steamy, hot showers feel awesome — just not on your wallet. Warm (not hot!) quick showers are the budget-friendly way to go. It'll take some getting used to, but it's also great for the planet and your skin.
This is the classic piece of advice on how to save money on utilities. And it's true! Old lightbulbs are inefficient and wasteful. You're much better off buying new LED lightbulbs and replacing them all in your home. Over a year, the savings add up.
Ovens use up a lot of energy, so make their run time count. Instead of only baking one dish, bake two or three. For example, bake your croutons, chicken breasts with veggies, and apple pie all at the same time. You'll get two courses and a snack for the same energy usage.
If you only use the oven for small things, consider an air fryer. This small appliance boasts reduced energy consumption, making it cheaper to use. If you're just baking nuggets, why turn on the oven at all?
Turns out that leaving gadgets on stand-by actually uses up energy. Why pay for energy you don't need? Get into the habit of unplugging kitchen devices once you're done with them. Or hook them to a power strip and flick off the switch.
New appliances aren't cheap, but if you have some room in your 2023 budget they're a wise investment. Because AAA-rated appliances are energy-efficient, they'll save you money in the long run.
Let's say your family takes a shower every morning but doesn't use hot water at all until 7 pm. Why should the water heater run (and waste energy) throughout the day?
Smart controllers solve this expensive problem. They learn at what times of the day your household uses hot water. Then, they program themselves to heat the water right before that time. In other words, you'll have hot water when you need it but not when you don't.
Insulating your water heater could save you up to 16% in utility costs every year. It's well worth hiring a professional to do it or doing it yourself! You'll only need a few relatively inexpensive supplies.
This is a big step, but depending on where you live could save you thousands of dollars within a few years. You'll still be connected to the power grid, but because your panels produce energy your bill gets slashed. Some states and cities even have financial programs to make solar energy more affordable for homeowners. If you can afford the initial costs, it's definitely worth looking into. The planet and your wallet will both thank you!
These 15 steps should help you save hundreds (or even thousands!) of dollars. But why stop there? Take your savings to the next level by seeing if our Save Coupon Book delivers in your area. Make the most of the unmissable deals and discounts on all kinds of essentials and treats, too!