Five Ways to Reduce Household Costs

Five Ways to Reduce Household Costs

reduce-household-expenses

The cost of running a household, whether you own or rent can add up quickly. We at Leaf have put together a list of five ideas that will help you reduce costs;

1. Home Entertainment

A Smart TV box is a device which can be purchased that will allow you to have access to a world of entertainment that is streamed right to your TV. These boxes have internet and web features that allow users of them to access internet TV and online interactive media. If you have taken a look at your bundle charge with one of the big internet providers, you will notice that the TV portion of your bill is likely the highest. After spending thousands of dollars for home entertainment, many people are cutting the cord to cable/tv providers and taking a looking at other options such as; Netflix, Crave tv or Apple tv, to name a few.

2. Lighting

LED lights (light-emitting diode) are 75% more energy efficient than incandescent lighting. As well, if you purchase good quality LED light bulbs, they can last up to 25 years. The initial downside to purchasing LED lights is they are more expensive, however, you will feel the savings in your energy bill in the long run. Your electrical bill to run an LED light for 50,000 hours will cost you approximately $32.85, whereas an incandescent light that is used for 1,200 hours will cost $328.59 and a compact fluorescent bulb that is used for 8,000 hours will cost $76.65.

3. Communication

VOIP or Voice over IP for a home phone is a great way to save money. A regular landline will often cost anywhere from $30 – $55 per month for a basic line and can increase exponentially when features such as call waiting, caller ID and voicemail are added. Most VOIP phone services (using broadband internet) are only $10 – $20 per month and will usually allow a free second line in your home. Long distance calling and International calls cost a great deal higher with most cell phone packages whereas the same types of calls are economically more viable with a VOIP home phone. When picking a VOIP provider for your home phone, opt for one with superior voice quality, flexible plans and included features.

4. Energy

In-wall electrical outlets in your home that are located on the outside walls can attribute from 2 – 5% energy loss to your home during the winter months, which can impact your heating bill. To help save money, you can purchase in-wall outlet covers that mount over the in-wall outlet and will help eliminate drafts and heat loss. These covers can be purchased at most home improvement stores.

5. Water

your water bill can be reduced greatly by installing low flow toilets and water efficient shower heads. With these enhancements you will also save money on your energy bill as there will be less draw for water to the water heater. You should also look into replacing older water heaters, whether they are rented or owned. The older heaters take longer to heat water which means it will take more energy to heat the water up. Any heater older than ten years should be looked at and considered to be replaced.
Apart from these five money saving tips, we encourage you to review your expenses on a regular basis and stay informed on how to reduce your household costs. This will help you save money and also allow you to put your hard earned dollars towards other things in life.