by Ben Sweiry ·
Modified on 3 March, 2022
If you’re trying to make some savings in your day-to-day life, the first place you should be looking at is your monthly household bills.
From water to energy to electricity, there are some very simple ways to help you save a bit of extra cash on your household bills each month.
Sometimes running a home can feel like pouring money into a bottomless pit, but it doesn’t need to. Here are a few steps to help you start saving money on your bills.
Key Points
- Making savings on your household bills can be extremely easy to do.
- Turning down your thermostat in the winter and turning off your A/C in the summer when you’re not in the house can help you save a small fortune!
- Make sure you unplug any appliances such as chargers and nightlights when they’re not in use.
- The energy that your appliances use when they’re plugged in but not turned on can cost an average of $100 per year!
Keep An Eye On Your Thermostat!
One of the simplest ways to reduce your electricity bill is to adjust your thermostat.
According to the Department of Energy, you can save as much as 10% on your heating and cooling costs by adjusting your thermostat by 7 to 10 degrees for eight hours per day. In other words, keep it a bit warmer in the summer and a bit cooler in the winter.
A simple way to do this is to adjust your thermostat when you’re either asleep or away from home. If you have a smart thermostat, you can preset your thermostat to adjust during these hours so you don’t forget.
It’s advised to turn your thermostat to around 18°C – this could save up to 10% on your energy bill. 18°C is supposed to be the most comfortable temperature for healthy people under 65.
How Can I Save By Changing My Water Usage?
One of the most straightforward ways to save on your water bill is to use less!
There are many different ways that people waste water without realizing and cutting down may not be as hard as you think. There are some simple suggestions, such as turning off the tap when brushing your teeth or taking showers instead of baths.
Other ways include only running the dishwasher and washing machine when with a full load or using a washing-up bowl instead of running the tap for washing dishes.
Turn Down Your Water Heater!
Many water heater manufacturers set thermostats at 140 degrees. But in reality, most households only need it set at a maximum of 120 degrees. This unnecessarily higher setting can result in hundreds of dollars in losses.
By adjusting the temperature of your water heater, you can reduce these losses. The thermostat dial on your water heater is likely near the bottom of the tank on the electric or gas control valve. Be sure to check the owner’s manual for instructions to adjust it — and if you have any questions, consult a professional technician.
Ensure You Turn Off And Unplug What You Aren’t Using!
By leaving things around your house plugged in and turned on when you aren’t using them, you’re driving up your electric bill unnecessarily.
You can start by turning off lights when you aren’t in the room or when it’s light enough outside to rely solely on natural light. Lightbulbs consume 4 cents per hour for 40 watts, and it only increases with the wattage of the bulb. And while it doesn’t seem like much savings, it can certainly add up over time.
You can also save money by unplugging appliances you aren’t using. The energy your appliances use when they’re plugged in but not turned on, known in the industry as ‘phantom energy’, can cost an average of $100 per year!
Look Into Switching Suppliers
Switching energy suppliers can be a huge saver on your household bills. Just ten minutes on a comparison website can help you find cheaper deals on all of your bills.
On average, a home can save $300 a year by changing to a better energy and gas supplier. If you have been with the same utility supplier for over a year, check your latest statements and measure them with the rates found on comparison sites.
It’s also a good opportunity when the insurance comes up for renewal to take time to look around for cheaper possibilities.