Good NestingWhen you need more wiggle room in your budget, one of the first things you should do is look at your expenses. Some expenses can be cut relatively quickly, such as eating out or entertainment. Others, however, like your electricity bill, cannot, as you need it to survive. But since your electricity bill is often the second-highest monthly expense behind the rent or mortgage, you should try to reduce it at much as possible.
We’ll show you how to do that so you can free up some cash for other bills.
How to Lower Your Electric Bill
Apply for the Low Income Home Energy Assistance Program (LIHEAP)
If you qualify, LIHEAP can offer assistance with making your utility bill more affordable.
Reduce Your AC Costs
Your air conditioner is an energy hog. And depending on where you live, it could be running all day long, pumping up your utility bill to astronomical levels. As such, you should do everything in your power to keep your cooling and heating costs low.
To start, keep your shades closed when you’re not home or are not in the room. This will keep sunlight out that will raise the temperature in your home. Similarly, you can install tinted window film for relatively cheap that will also block the sunlight.
When you leave your home, adjust the thermostat, so it’s not as “comfortable” inside. This will keep your unit from running when nobody really needs it. You can also install a programmable thermostat to do all of the work for you and keep your AC costs in an ideal range.
Lastly, try relying on fans more than the AC. They’re cheaper to run and can still give you that desired comfort.
Make Your Fridge More Energy-Efficient
Every three months, clean your refrigerator coils. If they get dirty, they will make your refrigerator work overtime to stay cool, and this will drive up your utility bill.
If you have the funds to do it, make sure your refrigerator is as full as possible. The items inside of it act as insulation, so it doesn’t have to work as hard.
Be Smart With Your Stove
Do you keep your stove running until the very last second when cooking? Try turning it off a couple of minutes before you’re finished and use the built-up heat to your advantage. This will reduce your electricity usage while still keeping your food warm.
Unplug Unused Devices
As old-fashioned as this bit of advice seems, unplugging your devices when you’re not using them can prevent phantom energy from making your bill skyrocket.
What is phantom energy? It’s electricity that devices tend to use even when they’re turned off. And even though the amount of electricity they use isn’t a lot, it can add up since studies estimate phantom energy accounts for 75 percent of your electricity usage.
A quick way to avoid phantom energy is to buy some cheap power strips. Switch them off when you leave the room to completely turn off multiple devices at once.
