How to Save Money on Your Utility Bills

Your utilities - including water, electricity and gas - can be an expensive part of living. However, there are ways you can cut expenses each month without compromising comfort or convenience.

No matter if you own or rent, making these simple changes could add up to significant savings over time.

1. Reduce your water usage

Save water has many financial and environmental advantages. Cutting your consumption lowers both bills and heating/treatment expenses for heated/treated water.

Leaks: Leaks in your faucet, toilet or washing machine drain can waste large quantities of water and ultimately cost money to keep running. Fixing these leaks can save a substantial amount of money over time.

Seasonal Variations: Households often see an increase in energy use during the summer due to watering lawns and washing clothes more frequently - this can have an immense effect on their energy bill.

2. Unplug your electronics

Unplugging appliances you aren't using may seem cumbersome and time-consuming, but it could save money in the long run. Devices plugged in even when off or in standby mode still drain energy - known as "phantom power or vampire energy", and this cost can add up quickly. In addition, unplugging these items reduces electrical fire risks as well.

Unplugging TVs, hairdryers and coffee makers is an easy way to save on energy costs while doing your part for the environment. Making this a part of your routine could pay dividends over time!

3. Switch to LED lights

Lighting represents 15% of a household's electricity usage and switching your bulbs over to LED bulbs can save an average household $225 annually in energy costs. LEDs use less wattage and last longer than traditional light bulbs, decreasing replacement needs over time.

Start by replacing your most used bulbs, such as those in the kitchen and living room areas, then progress onto hard-to-reach locations as your savings accrue. Over time, your electricity bill will decrease significantly and more money will remain for other things that make life better!

4. Install a smart thermostat

One simple way to save on utility bills is installing a smart thermostat. Unlike traditional programmable thermostats, smart thermostats automatically adjust temperatures and use energy efficiently.

Smart thermostats can help homeowners save by learning their habits, optimizing heating and cooling cycles to ensure more consistent temperature regulation, and using geofencing technology to shut off HVAC systems when no one is home. Plus, some electricity companies provide time-of-use rates which enable customers to save even further by running large appliances during off-peak hours.

Smart thermostats certified as ENERGY STAR are another great way to reduce utility costs. In order to receive this rating, they must satisfy a stringent set of testing criteria.

5. Check your meter regularly

Your energy supplier relies on accurate meter readings to estimate your usage, so it is important to regularly inspect and record your reading.

If you own a dial meter, observe and record each dial's pointer before recording its left-to-right numbers. Some meters feature two rows of numbers: 'low' or 'night' shows how many units of cheaper electricity were consumed while standard rate usage can be found at the bottom. Give both readings to your supplier.

With a time-of-use meter in place, you could further save by running large appliances such as dishwashers and washing machines at off-peak hours - especially beneficial if you tend to rise early or stay up late! This method may prove particularly helpful.

6. Look for year-round discounts

Utility costs, particularly electric bills, can take an enormous bite out of your budget. Here are some strategies on how you can maintain lower bills all year round.

Beating energy waste by reminding family members to turn off electronics and lights can help decrease energy usage, while upgrading to LED bulbs is a simple, inexpensive change that could save up to $6 in energy costs each month.

Keep in mind that many power companies provide features like budget billing to spread out the costs over the year and switching to 100% renewable energy with Perch can save money too!

7. Negotiate your bills

From utility costs and insurance premiums, subscription services and restaurant meals, as well as monthly expenses such as movie rentals and subscriptions, it can pay to negotiate prices with providers. This strategy may prove especially successful in states that offer "energy choice", giving consumers options when selecting service providers.

Many services are now offering to negotiate your recurring bills, fees, and subscription charges on your behalf. Services like Experian Boost and BillCutterz work by scanning accounts to identify bills that qualify for negotiations; adding these payments to your credit report to help increase payment history (35% of FICO score).

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