10 Ways to Lower Your Electric Bill

Regardless of whether or not you are trying to begin your adventure into investing today, chances are you can benefit from lowering your electric bill and saving money. According to the Energy Department the typical family spends $2,200 on utilities per year.

Making a few small changes can lower your energy bill by as much as 25%. Check out these 10 cost-effective ways to lower your energy bill and save money!

Here are 10 ways to lower your electric bill

  1. Replace your air filters.
    The air filter catches debris allowing your heating and cooling system to circulate clean air. Your HVAC is likely the most power hungry device in your home. Having it running as efficiently as possible is a must.
    Also, be sure to check the coils at least once a year. If they are covered in debris this can cause your power bill to increase significantly.
  2. Lower your thermostat temperature.
    It may seem obvious, but lowering the temperature while not at home or sleeping is a simple and smart way to save on your energy bill. For every 8 hours you lower the thermostat by one degree, you save 1 percent on your energy bill. (According to the U.S. Department of Energy)
  3. Adjust the temperature of your fridge and freezer.
    Your fridge should be set to 38 degrees and your freezer should be at 5 degrees. This will still keep your food fresh but your refrigerator and freezer won’t have to work as hard.
  4. Eliminate dust.
    If your refrigerator coils are dusty (usually located on the back of the fridge) your appliance is working a lot harder. This is also true for your HVAC system. These coils should be cleaned to save on your energy bill.
  5. Lower the temperature of your water heater.
    By lowering the temperature a few degrees, you can save a little extra on your energy bill. The ideal temperature for water heaters is 120 degrees Fahrenheit. You can also save a little money by turning off the water heater while you are away on vacation.
  6. check door and window seals for leaks.
    One of the most important things you can do is check your doors and windows for openings, leaks and broken seals. Over time these things can spring up and cause your electric bill to increase. These are usually an easy fix though. Just apply some Caulking, weatherstripping or replace broken seals.
  7. Install ceiling fans.
    Ceiling fans use significantly less energy than your air conditioner. If you are thinking about pushing the thermostat down a notch consider turning on a fan. Also, make sure you don’t leave ceiling fans on in unoccupied rooms as this will increase your electric bill.
  8. Purchase energy efficient appliances.
    Purchasing a new appliance may not have been your first thought when you were thinking of ways to save on your energy bill but it can definitely have a good return on investment. According to Energy Star, some appliances can save you hundreds of dollars.
  9. Swap out your light bulbs.
    You can potentially save $75 per year simply by swapping your old style light bulbs out for new LED bulbs. Technically fluorescent bulbs will provide you with the same savings but LED bulbs are just all around better in my opinion.
  10. Have an energy audit conducted.
    If you are still out of ideas and your power bill is too high this may be the ticket. You can contact your Utility provider and ask to have an audit done, a lot of times this audit is free. This can be a cheap/free way to have a professional come in and help you reduce your power usage.

I hope this list helps you reign in your electric bill. My wife and I have been working on going through this list in our home to help us save and invest. Thanks for giving it a read.

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