When you are trying to balance your budget and save some money, it may seem that you need to earn more money. You may be considering working additional hours at work or taking on a side job.
Take a moment to consider all the ways you are wasting money around the house before you do that. A few key changes may be able to save you a considerable amount of money.
The following Freedom Debt Associates Debt Consolidation shares 13 small ways to stop wasting money around the house.
1. A Programmable Thermostat Should Be Installed
You could save money by using a programmable or smart thermostat. Currently, your basic thermostat turns on and off when the air around it reaches a certain temperature.
You don’t need to keep your basement warm all winter if no one uses it. If no one is home during the day, you might not need to cool your home during the summer.
Saving energy may be possible with a programmable thermostat or an upgrade to a “smart” thermostat.
2. Leaks In Plumbing Should Be Checked
Water leaks around the house can cost you more money with each drip. Many people don’t realize this.
There is a drip calculator provided by the U.S. Department of Interior that allows you to calculate how much your dripping faucet or running toilet is costing you.
Even if you have just one drip per minute in your home, that is about 0.3 gallons of water going down the drain every day or over 104 gallons per year. Reduce your water costs by finding and repairing these leaks.
3. Put A Timer On The Water Heater
It is simple to save money by installing a timer on your water heater. 24 hours a day, the big tank of the water heater heats water to the desired temperature.
However, you don’t need that if you’re not home most of the day. By using a timer, you can reduce the number of times it heats water that isn’t being used.
4. Make Use Of LED Lights
One of the easiest switches to make is switching to LED lights. These energy-efficient lightbulbs will save you money on your energy bill.
You may be able to save 75% of the cost of lighting your home by installing Energy Star-rated bulbs, and they are likely to last 25 times longer than traditional incandescent bulbs.
5. Replace Bottled Water With Reusable Bottles
Make sure you have a few reusable water bottles on hand. It doesn’t have to be a fancy metal version or one with a fun straw. Simple is best. You could save a significant amount of money by making this change.
Suppose you buy a reusable bottle for $20. When you consider that a 40-bottle case of Kirkland Signature water costs around $30, you’ve recouped the cost pretty quickly – especially if each member of the family consumes several bottles a day.
6. Delete Ghost Subscriptions
Most people have ghost subscriptions or monthly payments for items they do not normally use or want that are automatically charged to their credit cards or bank accounts each month.
This could be a subscription to an online investment tool you do not use or a fee associated with an app you have not used for several months.
If you find these subscriptions on your statements, cancel them before they renew again, saving you $10, $20, or more per month.
7. Make Sure The Heat Registers Are Closed
In each room of the home, heat registers allow heated or cooled air from the HVAC system to circulate.
Freedom Debt Associates Debt Consolidation recommends closing the registers in rooms in your home that you do not often use, for example, spare bedrooms or basement storage areas, so that the treated air does not enter these rooms and instead travels to other areas of the house. You can save money by closing the registers.
8. Make Sure Furnace Filters Are Clean
Your home’s heating and cooling (HVAC) system needs clean filters to operate efficiently. In order to reduce wear and tear on the HVAC system, the filter collects particles before they enter it.
A clean filter also makes it easier for the system to suck in air, which reduces its energy consumption. You could save money by changing your filters according to manufacturer recommendations.
9. Don’t Waste Food
What amount of food do you waste each week because your good intentions did not materialize? Whether it is the bags of salad mix you thought you would use for lunches or the fresh fruit you never prepared, it all adds up.
There are a few ways to get around this. Start by creating a weekly meal plan. You’ll also save money if you don’t eat out.
You may also find it easier to just throw together a meal when you need one if you do your food prep right after you come home from the grocery store.
10. Be Sure To Check Your Bank Fees
Have you ever checked to see how much your bank charges you to hold onto your funds? Due to the fact that you do not receive a receipt for bank fees, it is not always easy to notice them. Instead, they appear on your statement.
Checking account fees or overdraft fees (which average around $29 per incident) can quickly accumulate. There are some banks that charge ATM fees as well. Consider the costs associated with your investment accounts as well. It is your goal to pay as little as possible, and some banks offer the opportunity to do so.
11. Ensure That The Electricity Is Turned Off
Known as “energy vampires,” appliances on your kitchen countertop and electronics in your living room draw electricity even when you aren’t using them.
DVD players and electric razors are all pulling power if you have them plugged in. Bricks like big power plugs that you plug electronics into have a switch you can turn off.
To eliminate energy consumption, other items must have their plugs pulled. These are just a few of the ways in which you can save on utilities.
12. Turn Off The Lights
It is possible to save $100 or more per year by simply turning off the lights in your home when no one is in the room. Consider installing a motion-sensing smart switch if you have difficulty remembering when the light should be on or off.
13. Make Sure The Dryer Vent Is Clean
From the back of your dryer, this vent allows gasses and trapped heat to escape. As a result, it usually contains debris, dust, lint, and other materials from clothes.
Leaving it unclean makes your dryer work harder to dry your clothes and poses a safety hazard. You should clean it several times a year.
Bottom Line
Several of these tasks may not seem like a great deal of work, but if you make the effort on several of them, you may be able to save a considerable amount of money.
American consumers waste approximately $18,000 a year on non-essential items, according to a survey conducted by Ladder life insurance website. Imagine being able to recoup even a fraction of that expense.
In addition to these tips from Freedom Debt Associates Debt Consolidation, think of other ways you can save money on groceries, gas, and utilities on a daily basis.
