Many of us invest a lot of time, energy, and savings into our home. The down-payment for purchase or rent. Renovations or small upgrades. Furnishing each room with items that suit our taste and personality. The money we spend on our home can be a large portion of what we have earned or saved. It is natural to want to get the very most out of each pound or penny. But there are several ways that our home is costing us money without us even knowing it. We may have budgeted for general living costs and maintenance. But how can we budget for situations that we’re not even aware are happening? Read on to discover some of the major causes of wasting money in the average home and how to fix them.
Excessive Energy Bills
The vast majority of us pay utility bills that may span gas, electricity, water and more. We are aware that these will cost a certain amount and that they are necessary expenses. However, we are often wasting money in two ways. Firstly, we may not have selected an energy plan that is right for us. Secondly, our home may not be energy efficient. With so many competitors in the market for supplying our energy it is important to shop around. We should try to be aware of the best deals over the long term. Many companies make offers for joining that are appealing in the short term, such as a month’s free usage, for example. But then return to high, expensive tariffs that haven’t really saved us anything at all. Be savvy and do your research. Get quotes and compare deals. In the meantime, however, are you doing everything you can to conserve energy? Many people find that their heating bills seem high. Especially when there have been warmer days and months that wouldn’t account for high usage. An automatic heating system can cost us money in that it may switch itself on at times when it is not needed, for example. We may also be wasting money due to poor insulation. Windows, doorways and poorly insulated attics can all be haemorrhaging heat (and money) on a daily basis. Sometimes the initial expensive outlay of fixing these faults is worth it because we will save hundreds on energy bills long term. Also ensure that you are addressing the little details. Never leave water running while brushing your teeth, for example. Turn off the lights when you leave a room or don’t use them at all during the day. Avoid leaving electronics on standby and wash laundry on a lower setting than normal. Not only will you start saving money, but it is better for the planet too.
Faulty Appliances
Appliances such as washing machines, dishwashers, stoves and boilers can be easily taken for granted. However, it is important to have them regularly checked and maintained. They can be wasting money and energy if they don’t function properly. Appliances that are effective and efficient will ultimately use less energy and so cost less money to run and use. Ensure that you have appliances that are working for you and your budget. Not against it.
Speak Your Mind