Homeownership is a wonderful thing, but the cost of utilities each month can sometimes be shocking! With a little bit of effort and due diligence, there are ways to keep your costs in check. And who doesn’t want to save money these days? Here are some tips for cutting your utility costs.
I think we can all remember our parents hounding us as kids to “Turn the lights off when you leave the room!” But in terms of saving money on household bills, they were spot-on. In addition to costing you money on your electric bill each month, leaving the lights on will burn out your lightbulbs more quickly. And they cost money too! One smart switch you can make is the move to LED lightbulbs. They use about 80% less energy than traditional light bulbs and also last 42 times longer!
Your Appliance Schedule Matters
Did you know that you use far more energy when you run your appliances during the day? That’s right. You should consider adjusting your appliance schedule and running large appliances like the dishwasher, washing machine, or clothes dryer later in the evening or before bedtime. Energy companies charge more money for peak energy times, typically in the middle of the day. Also, using the cold water setting for your laundry will dramatically cut down on your electric bill because nearly 90% of the energy your washing machine uses is for heating up the water.
Adjust Your Thermostat
It’s pretty common for homeowners to set their thermostat to a specific temperature and never adjust it. But this practice could be costing you money! Adjust your thermostat to be 5-8 degrees warmer in the warmer months and 10-15 degrees lower in the cooler months at times when your home is vacant (like when you’re at work or school). You can adjust the thermostat back to where you like it when you return, or consider installing a smart thermostat like a Nest that you can control from an app on your phone. Also, don’t forget to help your heating and air conditioning units run at their optimum levels by regularly changing the air filters in them.
Consider Smart Lighting Controls
Of course, turning off the lights is the easiest way to cut your electric bill. But you should also consider smart lighting controls to assist you. These include motion detectors or timers for your lights, so they only turn on when you need them to. And consequently, they will turn off when they are not required. Dimmers are another great option to reduce your energy usage, and they can help with mood lighting in your home.
If you have escrow questions or would like to learn more about our services, please reach out. We are here to help and would love the opportunity to support you and your escrow needs.