More Ways to Save On Utility Bills

For many families, utility bills consume a high percentage of monthly income. Reducing the amount of money you pay towards utility bills helps keep more money in your pocket – or frees up cash for paying down other debts or investing.  The good news is, you can reduce your utility bills to a surprisingly low amount.  Here are 6 ways to save money on your utility bills:

1.Update your insulation – if you have an attic, check to see if the insulation is covering all the 2×4’s on the floor. If it isn’t, you need more insulation. Keeping the home well-insulated will help reduce your heating and cooling costs long term. You can easily do this yourself by purchasing insulation from the home improvement store and placing it in and over the 2×4’s in the floor of your attic.  Check out Squawkfox’s DIY attic insulation post for step-by-step instructions.

2. Fix a leaking faucet – you might be surprised how much that tiny drip is costing you over the course of a year. Some people have figured out that the smallest of drips in a sink can literally fill a swimming pool over the course of a year (okay, so it’d have to be a really small pool)! Replace the washer or make some adjustments to stop the water from dripping and you’ll save money on your water bill and help the environment.

3. Weather stripping and caulk – if you can feel cold air leaking in through your windows and doors, you should add caulk and weather stripping.

4. Switch to compact florescent lighting – Compact florescent lightbulbs save about 25% in electricity costs. They also last longer than the standard lightbulb. Changing all of the lightbulbs in your home to compact florescent will result in about 25% decrease in your electric bill if nothing else changes.

5. Get an LCD monitor – if you’re still using the older CRT computer monitors, you’re burning unnecessary electricity. LCD monitors use about 25% less power than the old-style CRT monitors (of equal size).

6. Replace hot water heater with tankless version - when it comes time to repair or replace your hot water heater, go with a tankless version. These heaters do not keep water in a tank heated and ready to go; instead they instantly heat the water as it moves through to get to your shower or sink. They consume a TON of energy when heating the water to use – but use hardly any at all when you’re not consuming hot water. A hot water heater with a tank requires excessive energy around the clock to keep the stored water hot and ready to go.