How To Save Money On Utility Bills – While saving money is a very HIGH priority for me, when it comes to utility savings, maybe my busy schedule is putting me off a bit. Sometimes it feels like a hassle to reset the thermostat and remove the items I’m not using. But, there is real money to be saved when you take the time to do all the little things to be more energy efficient.
Did you know that the average US household spends nearly $1500 a year on electricity alone? And every year, inflation grows that number by 2.3%.
- 1 How To Save Money On Utility Bills
- 2 Money Management Apps To Help You Save Money On Utility Bills
- 3 Energy Saving Tips For Your Home
- 4 What Is Utility Bill And How To Save Money With A Utility Bill Calculator Template
How To Save Money On Utility Bills
Factor in gas and water and the number climbs even higher. For many people, utilities are the second most significant monthly expense after the mortgage payment.
Money Management Apps To Help You Save Money On Utility Bills
So finding ways to reduce utility costs is not only a great way to go green, it can also be a lifesaver for your budget!
For this article, I want to focus on energy conservation, as opposed to energy efficiency. And while being efficient is important, it’s not an easy start for most people.
Insulation and window types, programmable thermostats, Energy-Star appliances, and other big-ticket ways to save money in the long run are all about efficiency. Not everyone has the financial ability to be more energy efficient all at once.
But energy conservation is about the ways in which we can use what we have (or not use it!) in the best possible way.
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Both are important for the environment and your wallet, but conservation is a simple way to save a lot of money.
As it turns out, some of the best ways to make a big difference take just a few seconds of your time.
I am going to implement more of these into my schedule. I’m not going to let the excuse of being a busy mom keep me from being a good budget mom!
Cooling your home consumes more energy, by far, than any other utility we use during the summer. And no one wants to be uncomfortable in their home, but every step you go up in the hot weather saves you 1% a day on your electricity bill.
Why Improving Your Home’s Efficiency Pays Off
To be most effective, set your “home” temperature to 78 degrees in the summer. Also, it is essential not to cool an empty house. You might as well throw your money in the garbage.
Dial your “out” temperature to 85 degrees every time you leave for more than two hours. This only takes seconds to do, several times a day. By adjusting your temperature accordingly, the Department of Energy says you’ll save an average of $83 a year.
If you have ceiling fans, use them! Your A/C uses a quarter of your home’s energy – about .36 cents an hour.
That’s much more than any other gear. On the flip side, ceiling fans only cost about a penny an hour. Now, understand that fans don’t lower the room temperature, they just make a room feel cooler because of the moving air. They can also reduce the humidity in your home.
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You won’t feel a difference in temperature even if you set your thermostat 4 degrees higher while using a ceiling fan.
By using a fan and raising it 4 degrees, you are adding a penny an hour to the fan, but cutting your A/C by 40% and more than 8 hours a day for 100 summer days, saving $104 on your summer cooling bill. .
However, remember to turn off the fan every time you leave the room for long distances! The fans are only helpful if you are there to feel the breeze.
*If your home or apartment doesn’t have ceiling fans, a small investment in an oscillating foot fan will more than pay for itself in the first year.
Energy Saving Tips For Your Home
One of the most frequently recommended ways to reduce energy costs is to reduce the temperature of the hot water heater. Reducing the default setting of 140 degrees to 120 degrees:
And if you want the extra hot water, consider turning it up a little before you jump in the shower, and turning it down again afterwards. It only takes a few seconds but saves real money.
An uninsulated tank loses 25%-45% of its heat (depending on where it is located in your home, and the surrounding temperature).
Buying a tank jacket or blanket from your hardware store will cost about $30. That might be a small chunk of July’s budget, but consider this:
Energy Saving Tips
Ideally, having low-use faucets and toilets is a great idea, but until they become essential purchases, consider the small ways you can reduce water consumption:
By being diligent about your water usage, you can save 500 gallons of water every month. This can add up to an annual savings of $70.
How many times have we heard our mothers tell us this? And with good reason. Each incandescent light bulb will cost about a dollar a month to run, assuming you use the light about 5 hours a day.
Wait! I know it’s only pennies, but think about this: if you’re using 60 watt incandescent bulbs and running six lamps every evening from 5:30 to 10:30 pm, you’re spending $72 a year you only on those lamps.
What Is Utility Bill And How To Save Money With A Utility Bill Calculator Template
Save even more by flipping the lights every time you leave a room. Better yet, think about it before you flip it. Most of the time, we throw lights out of routine when we don’t really need them.
Although we are focusing primarily on ways to conserve energy, this is one category where you can implement efficiency as needed. One by one, as bulbs burn out, replace them with energy-efficient LED lights.
So, if you currently have 30 bulbs in your home (a very conservative estimate) and you run them for three hours a day, you’ll spend about $270 a year on energy costs from your lights . But if you switch them to LED bulbs, you’ll reduce that energy cost to less than $90. That’s a savings of $180. And when all the fluorescents are converted to LEDs, you won’t have to buy bulbs for a long time. Win-win!
This little tip is so easy, but most of us don’t do it simply because we don’t want to wait for our computers or laptops to restart when we want to use them again. To save energy, however, you should:
Tips To Save Electricity & Gas Utility Bills
Consumer Reports says that just putting your computer on standby can save you up to $75 a year, and even more if you shut off the entire power strip every night.
Add all these up to over $700! You could save enough in the first year to make an extra mortgage payment or pay off a credit card!
These are just some of the ways we can start making a real difference to our budgets and our environment!
ElectricityRates.com allows you to save a little money on your utility bills. ElectricityRates.com will allow you to compare the rates of energy providers available in your area. If you are moving to a new apartment, you might ask yourself: how much do utilities cost? Knowing the costs ahead of time will help with your budgeting.
How To Understand Gas And Electricity Utility Bills
Budgeting for your next apartment? Your monthly utility bill is an expense that many people overlook, with as many as 20% of Americans struggling to pay their energy bill in full at least once.
Beyond your electricity, utilities traditionally include cooking gas, water, garbage collection and recycling. Today, the definition of utilities has expanded to include internet service (WiFi), cable/streaming, and cell phone service. We have you covered.
The average monthly cost of utilities in the US is $133.04 per month for a one-bedroom apartment. This estimate includes the basic utilities – electricity, heating, cooling, water and garbage.
Add-ons like internet, cable, phone and trash will increase your utility cost in an apartment to $189 per month.
Save Money On Utilities With Window Treatments
That said, the cost of utilities varies according to a variety of factors, including location, usage, utility providers, and home size.
Utility costs depend on the type of bedroom. Not surprisingly, utilities are often cheaper in spaces with smaller square footage like a studio or 1 bedroom.
Moving to a new city and not sure how much your new utility bill will be? Determine the average utility costs in your next home to properly map out your monthly budget.
The average electric bill for a 1 bedroom apartment without A/C or heater use is likely to be around $84 per month. In most cases, the electric bill for an apartment is probably the largest part of your total utilities.
Rethink The Sink
You should expect your electricity to increase during the summer, especially in the South or hot rental markets. You should also ask whether or not your heating uses electricity or a radiator, which could affect your average heating bill.
Hot water, heating and your stove can affect your average monthly gas bill. Your average gas bill is likely to be around $19.72 per month in a one-bedroom apartment, depending on your appliances, where you live, and usage. Natural gas appliances tend to be less expensive than their electric counterparts, something to consider when apartment hunting.
Your gas and electricity bill