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Thursday, January 23, 2014

Saving money around the house

There are plenty of expenses we end up paying in our day-to-day lives. They have the potential to cause quite a lot of stress and even hold us back from doing the things we want to do. However, there are a lot of small actions we can take to save some of the money we are already spending. Sure, the small things will not save a significant amount of money on their own, but they certainly will add up. There are many small actions we can take in our everyday lives that will together end up saving us a lot of money. Below is an overview of several money-saving practices to consider incorporating into your life.
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Watch less television

Television is a big part of many lives; this explains why it ends up being such a huge expense. One great way to save money is to turn off the television and do something else you love instead. This not only gives you the opportunity to do something great for you, like reading a book or spending time with a loved one, it also saves a great deal on your electricity bill. If you do not find yourself watching a lot of television, consider making the change to watching none at all. You can get rid of your cable subscription and the added expense that comes with it.

Unplug appliances and gadgets when they are not in use 

Even when you are not currently charging your cell phone or your digital camera, your charger is still using unnecessary energy if it is plugged in to an outlet. A notable amount of the energy that televisions, computers, and DVD players use up is actually consumed when you are not using them. Save on energy costs by unplugging gadgets like these when they are not in use.

Change your light source

Chances are good that you are spending more money keeping your house lit than you need to. The standard incandescent light bulbs are extremely inefficient but unfortunately still commonly used today. Opt for the CFL light bulb, or the even better LED light bulb, for a more wallet-friendly light source. These bulbs will definitely have a larger initial cost than the incandescent bulbs will, but they will save a great deal in the long run. CFL light bulbs only use about twenty-five percent of the energy that incandescent bulbs use. LED light bulbs are between 160%-400% more efficient than incandescent light bulbs.

Make your refrigerator more efficient

You could replace your refrigerator altogether with a more efficient model, or you can make some changes to reduce the costs of the one you already have. Keeping your refrigerator full (but not overfilled) and using up more of the space inside will mean that there will be less air to cool. Make sure that you are routinely maintaining your refrigerator as well: keep the coils behind your refrigerator free of buildup to make air flow easier, do not allow frost buildup in the freezer to exceed a quarter of an inch, make sure that there is no air leaking out of the refrigerator, and make sure that the compressor is running properly.

This article is written by Richard Craft, a regular contributor on Moneycation, and Jared Miert, a husband and father.  He believes that part of managing your money successfully by also managing your use of your resources.  He also recommends finding cheap electricity and energy services, lowering your thermostat when you are not home in winter, and collecting rain water for your grass in the summer.


  1. A point of clarity for readers: LED bulbs do not use just 2 percent of the energy of incandescent bulbs. The writer may have meant 20 percent. Typical numbers are around 16%. The spirit of the statement is correct, though: they'll save the most in energy over time, and they don't contain mercury like CFLs do.

  2. Thanks for your comment Steve. The article was edited to embed a source link and to rephrase LED light capabilities. If LEDs are more efficient than incandescent, about 400% more efficient according to once source then 80% vs 20% efficiency; the former is 20 x 400% or 4.