Savings News

How to Save Money Without Leaving the House

When it comes to reducing expenses, most people look to their bills and household expenses first. While that’s certainly a smart practice, you may find just as many savings by simply taking a look around your home. By reviewing your household items, you’ll discover long-term savings without any hassle.

Here are some of the top items to review in your home:

Plugged-In ItemsReal estate or home savings - red piggy bank, coins and a house

– Many people think that when an electrical item or device is turned off it isn’t using power. The truth is that when an item is plugged in, it is still drawing power. Which also means it’s draining your electrical bill. According to the U.S. Department of Energy, plugged-in items can add 10% or more to your energy bill.

Install Programmable Thermostats

– Not only can using a programmable thermostat easily regulate the temperature in your home, it can also help you keep you reduce your utility bill. Throw an extra blanket on the bed and program your thermostat to turn down the heat at night. If you’re gone during the day or you take frequent trips or vacations, you can use shut off or reduce the thermostat since there’s no need to cool or heat your home if you’re not there.

Regular Household Maintenance

– This is a less glamorous way of reducing household bills but certainly an effective one. You should regularly inspect your home for any maintenance issues. This includes: cleaning the gutters, repairing damaged or torn screens, having air conditioners or furnaces serviced, replacing seals around windows and doors, checking all plumbing fixtures for leaks or caulking repair, and overall checking for cracks or damage throughout the inside and outside of your home. In a recent article published by Wells Fargo, they state that homeowners should set aside 1 – 2% of the purchase price of their home for home maintenance and repairs. Doing regular maintenance will help you to keep those costs to a minimum.

If you’re looking to reduce household expenses, do an inventory of your home. Look for areas where you can make repairs or improvements. Even small changes can significantly reduce your utility bill over time.