Finding ways to manage household expenses is one of the cornerstones of a sound financial strategy. Because every penny counts, here are some simple and inexpensive energy-saving tips that may help you save money.
Perform an energy audit to better understand where you can improve your home’s energy efficiency. Use a home energy monitor to track your energy use, and a handheld air leak detector to identify drafty windows, doors, and other areas of your home. Also, your local power utility may offer in-home energy audits or related services that can help identify remediation opportunities.
…And Then Act
Consider these low-cost, do-it-yourself ideas that offer immediate savings:
- Install a programmable thermostat to automatically lower the heat or air conditioning because—let’s face it—you forget to do it
- Devices that offer “instant on” or continuous display (e.g., TV, cable box, and recharger) use energy non-stop. Consider a power strip to reduce their electrical use by shutting off the power strip at bedtime
- Plug air leaks through weather stripping or caulking; install door sweeps to block drafts. Close the fireplace damper when it’s not in use
- Be sure to have your heating system serviced to ensure maximum efficiency
- Install a water heater blanket and turn the heater down to 120 degrees; not only is a higher temperature wasteful, but a lower temperature is a safety precaution for younger children. Lower it to a minimum when you leave for vacation
Honk If You Like to Save Money
For many, the cost of running their automobile(s) can be higher than the cost of running their home. Here are ways to save:
- Tune up your car
- Check your tires for proper inflation
- Drive sensibly by eliminating excessive idling, aggressive driving, and speeding
- Eliminate weight — empty that trunk!
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2018 FMG Suite.