Discover four different areas in your home that can unlock hidden savings. 

If you’re a homeowner, you’re probably always on the lookout for ways to save money. Even if it’s a few dollars here and there, it can really add up over time! Did you know there are hidden savings inside your home? Here are some simple and easy things you can do to help save some money every day!  

The Hidden Savings Inside Your Home

May 4, 2017

Discover four different areas in your home that can unlock hidden savings.

If you’re a homeowner, you’re probably always on the lookout for ways to save money. Even if it’s a few dollars here and there, it can really add up over time! Did you know there are hidden savings inside your home? Here are some simple and easy things you can do to help save some money every day!

 

Change your lights

Turning your lights off when you leave a room is a simple way to save money on your light bill. However, the type of lights you’re using may also be a factor in how much you pay. Switching from traditional incandescent lights to halogen, compact fluorescent lamps (CFLs), or light emitting diodes (LEDs) can save you up to 75% on your annual energy cost.

 

Seal doors and windows

You probably spend a pretty penny to heat and cool your home throughout the year. Don’t let that money fly out your windows or doors! The Energy Information Administration (EIA) estimates that about one third of a home's heat loss occurs through windows and doors. That’s a lot of money when you consider the cost of heating an average home during winter—$649 for gas or $938 for electric.

Good news: you can do something about those drafty windows and doors that doesn’t cost thousands. The Department of Energy estimates a 5 to 10 percent savings on energy bills when you replace worn down weatherstripping. Other ways to help keep your home comfortable and lower your energy costs include caulking cracks in frames, installing drapes and adding insulation or window films. Not sure how to pick or install weatherstripping? This article breaks down all the options for you.

 

Unplug

It’s not a myth-unplugging can help you save money! When you leave technology like your microwave, television, alarm clock or cell phone charger plugged in, they stay in standby mode. This means they are off, but still utilizing energy. About 5-10% of your home’s yearly energy usage is for products in standby mode.

If you’re not frequently using an item, like a spare television or gaming system, unplug them! According to Popular Mechanics, “Energy Star estimates that the average U.S. household spends $100 each year to power electric devices that are turned off or in standby mode.” If you have multiple items in one area, plug them into a plug strip to easily turn them all off at once. See how much standby power various household products use in this study by the Berkeley National Laboratory.

 

Get a handle on your thermostat

The tiny, yet mighty thermostat in your home can help you save big on your energy bill. According to energy.gov, setting your thermostat back 7°-10°F for 8 hours a day can help save up to 10% a year on your heating and cooling costs. This can make quite the impact, considering heating a home accounts for about 45% of an average American’s energy bill.

If you have a programmable thermostat, simply set it to a lower temperature when you are not home or asleep. If you don’t have a programmable thermostat, it might be a smart investment: it can save you an average of $180 a year in energy costs.

Read next: Energy Efficient = Money Savings

A few simple changes here and there could help you save some cash! Plus, you’ll make your home more energy efficient in the process. What other ways do you find hidden savings inside your home? Let us know in a comment below.

What could you achieve with a HELOC?

 Ready to tackle some projects in your home? A HELOC could help you get access to the cash you need for your home improvements.

Learn More

Leave a Comment

 

*
*
*



 

Equal Housing LenderThis credit union is federally insured by the National Credit Union Administration.

Redstone is an Equal Credit Opportunity Lender.

This content is provided for informational and educational purposes only and considered accurate as of the date posted. Views and opinions expressed in comments do not constitute an official endorsement by Redstone Federal Credit Union® or its affiliates. Redstone encourages you to seek professional advice for your personal situation before making any financial decision and is happy to assist you at any of our branch locations.

Must be RFCU® member to obtain or use any product or service. Must open a share savings account to join RFCU. A $5 minimum balance is required to open a share savings account and must be maintained in the share savings account at all times. Age and other restrictions may apply.