Money & Banking
5 ways to save on your electricity bill
As the weather starts to warm up a little bit, it can be tempting to get the air flowing in the house after months of stuffy winter weather.
However, it’s important to remember that using electricity comes at a cost. If you’re dreading opening your next electricity bill, here are five tips that you can use to cut back costs.
1. Use energy efficient lighting
Light bulbs contribute more than you think to your power bill, especially if you have old incandescent or halogen light bulbs. This is because it takes more watts of electricity to power them.
Switching to compact fluorescent lights (CFLs) or light emitting diodes (LEDs) can save you money as they use less electricity to run and can last longer.
2. Wash clothes with cold water
It takes electricity to heat up water in your washing machine and it can be a real energy suck. Try sticking to the cold wash setting for day to day laundry if possible.
Make sure that you take advantage of any eco-settings that are available on your washing machine as well as setting the machine to the correct load size in order to save on power.
3. Switch off appliances at the wall
Switching off appliances at the wall might sound a bit cheap, but when you consider how many devices are plugged into power without being used all the time, this trick can save you money on your next electricity bill.
Standby appliances, such as microwaves, televisions and even phone chargers cost a typical household over $100 a year in wasted electricity.
4. Check appliance settings
While we’re on the topic of appliances, make sure that the settings of certain appliances are adjusted to what you need them to be. It’s as simple as making sure the television isn’t too bright and the fridge isn't too cold.
It can also mean taking advantage of eco-settings that are available on dishwashers, clothes dryers, washing machines and air conditioners (if you have these appliances).
5. Compare energy providers
If you’ve been with the same energy provider for years, but the prices keep increasing when you’re doing all you can to reduce your bill, maybe a change of provider is in order.
You can save around by shopping for a better deal, as energy companies are always changing their products and prices.
Just because you got a good deal upon signing up doesn’t mean that the energy company requires that it stays that way.
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