Alex Featured on Mortgage Vault Podcast

With the price of groceries and gasoline on the rise, you may be looking for ways to save some money. A good place to start is inside your home. According to the Bureau of Labor Statistics (BLS) data, the average American household spent more than $4,000 on utilities (i.e., electricity, gas, water) in 2020 – an increase compared to previous years.

Depending on where you live, there are several ways you can cut down on your monthly energy costs without spending a fortune.

Change the Furnace Filter Regularly. Homeowners should be changing those filters at least once a month. And not only does this extend the life of your furnace, but it also keeps the air filter from getting clogged (which could drive up energy costs). 

Use Smart Power Strips for Electronics. You may not know that many of your home electronics will cost you money even when they are turned off. It’s called vampire or phantom loads and it occurs when electronics continue to consume energy even when they are in sleep mode. Smart power strips can detect when a device is in standby mode, and shut off the device entirely, saving energy and money.

Seal Cracks and Leaks. Caulking windows and using weatherstrips around doors is one of the most cost-effective ways to reduce your heating and AC bills. When outside air enters your home, it can drive up energy costs. Aside from windows and doors, other areas of the home where air leaks occur include ducts, attics, piping, and fireplaces.

Wash Clothes in Cold Water. If you are washing and rinsing your clothes in hot water, you are likely wasting a lot of money. Instead of using warm or hot water settings with every load of laundry, switch to the cold setting. Rinsing clothes in cold water can be just as effective and will help make your clothes last longer (more savings!).

Use a Clothesline. A simple clothesline outside will allow you to dry your clothes for free by using the power of the sun. Electric clothes dryers use a lot of energy, and the costs can add up, especially if you have a large household. 

For more tips on how to save money by cutting down on energy use at your home, CLICK HERE.

Equal Housing Opportunity. Axia Home Loans is a registered tradename of Axia Financial, LLC. NMLS 27830.