Simple steps to save money on utilities by lowering your electric bill

Simple steps to save money on utilities by lowering your electric bill

With the rising cost of electricity, it can be difficult to manage your budget while still maintaining a comfortable home. But with a few simple changes, you can reduce your electric bill without sacrificing comfort! Let’s dig in and see how to lower your electricity bill. 

Why is it important to reduce the amount of energy you use? 

It’s important to reduce the amount of energy you use for a few reasons. For one, it’s good for the environment. Producing energy often emits greenhouse gases, which can contribute to climate change. Additionally, using less energy can save you money on your electric bill. And finally, lowering your electric bill can also improve your home’s resale value.

Tips on how to lower your electric bill

When it comes to your electric bill, there are a few easy ways to cut costs without making any major changes to your lifestyle. Here are a few tips to get you started:

  • Get an energy audit. Many utility companies will do a free in-home energy audit, which can help you identify ways to lower your electric bill.
  • Install energy-efficient lighting. Compared to traditional incandescent bulbs, LED bulbs consume 75% less energy and last up to 25 times longer.
  • Make sure your home is well-insulated. Proper insulation can go a long way in keeping your home’s temperature consistent, which reduces heating and cooling costs.
  • Weatherize your windows and doors. Make sure your windows and doors are properly sealed to keep heated or cooled air from escaping from your home.
  • Keep your thermostat at a reasonable temperature. You don’t need to keep your home as warm in the winter or as cool in the summer as you might think.
  • Use a programmable thermostat. By setting your thermostat back 10°–15° for eight hours a day, you can save 5%–15% on your heating and cooling costs each year.
  • Use fans wisely. Fans can be very helpful in circulating air and keeping your home comfortable. Although you should be wise about how you use them, they consume significantly less electricity than aircon. 
  • Unplug electronics when you’re not using them. Electronics that are plugged in but not in use still utilize energy, so be sure to unplug them when they’re not being used.
  • Use natural light whenever possible. Open the curtains and let the sunshine in whenever possible to reduce your need for electric lighting.
  • Install solar panels, if possible. Installing solar panels in your home is one of the best ways to reduce your energy costs in the long run.
  • Shop around for competitive rates on utilities. Compare rates from different providers to ensure you get the best deal available on your electricity, water, and other utilities.
  • Educate yourself about energy efficiency. There are many ways to make your home more energy efficient, and the more you know about it, the more money you can save.

 Final thoughts

Reducing your utility bill will greatly affect your monthly budget, but are there other things you can do to boost your savings? CVF Credit Union can assist! 

We offer the following: 

  • Savings and investment products to help your money grow in the background. 
  • Educational courses, from budgeting to developing a business plan. 
  • Financial advice to support you along your journey to financial freedom. 
  • And much, much more. 

 Speak to one of our financial advisers today for your free consultation.

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