Using money wisely and building wealth

Saving Money On Your Electric Bill

I absolutely hate opening our electric bill each month. I know that electricity is a luxury that I shouldn’t complain about but GOSH, it ranges from $200-$400 each month. Sometimes there is no rhyme or reason for the fluctuation. It is one of those bills that I know I can’t get away from but I’m constantly looking for ways to reduce the cost (and of course consumption). Short of living in the dark, here are a few tips to cut your electric bill…

Lower Your Thermostat…You can save hundreds of dollars by lowering your thermostat so that your electric heat/air does not kick on as often. We have our thermostat set at 68 degrees in the winter and 70 in the summer. We use our ceiling fans to circulate air in the summer and wear long sleeves in the winter.
Lower Your Water Heater Temperature…If you have little kids in the house, this is a must. Do you really need steaming hot water? We have ours set at a comfortable temperature that will not burn your hands, however still hot enough for a nice long shower.
Wash Laundry Wisely…Conserve on the amount of laundry you wash. Assign each member of the family a towel and have them use it several times after baths before you wash them. You may want to consider purchasing the thin, high absorbency towels that will take up less space in your washer allowing you to wash less often.
Air- Dry Laundry…In the summertime you can dry your laundry outside and in the winter, run a clothes line in your basement to let garments dry. If you don’t like the stiffness that you sometimes get with line drying, pop them into the dryer for a few minutes to fluff them up. You still will be ultimately saving in the long run.
Use Dryer Heat Wisely…If you must use the dryer in the winter, consider temporarily running the vent into the house instead of outside. (This may disappoint a lot of pets who like to sleep around your outside dryer vent) Let me caution you to keep an eye on your humidity. Using this too much can raise your humidity in the area around the dryer to high levels.
Use The Dishwasher Wisely…Is it really necessary to put a plate in the dishwasher if you’ve only ate a piece of toast off it? Some dishes can be easily rinsed off or hand washed to save the use of your energy sucking dishwasher.
Turn Off The Dishwasher Heating Option…When you do use the dishwasher, let the dishes air dry by opening the door for a few minutes before you put them away.
Check Old Appliances… Several years ago, we realized that we were wasting about $20 per month running a chest-type freezer that was 30 years old and terribly inefficient. We invested in a new one that was a more useful size and costs a lot less to run.
UnPlug…Unplug items that you are not using. Don’t keep the coffee pot or toaster plugged in all the time.
Turn It Off…Turn off the light when you are not in the room, turn off the TV if you are really not watching it.

Remember, a penny saved is a penny earned!

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