Personal Finance
About Lesson

Utilities are an area where savings can require some work and ingenuity but the payoff can be significant. The difficulty with utilities is that in your area, there may only be one or two companies offering the service. This is where principle #3 can make an impact.

The following is a list of actions you can take to save in different utility classes:

Electricity

  • In general turn off devices not in use.

  • Devices with “wall-warts” should be plugged into power or surge strips so they can be turned off with a switch. These devices still draw power even when they are turned off.

  • If the device has a remote it draws power even when it is turned off. Unplug if you can when it is not in use.

  • Use public services when you can. Spending time in a cooled public space such as a library, mall, movie theater, or community center in the summer to save on your expenses for cooling.

  • Use LED light bulbs and light fixtures.

  • Use natural sunlight when possible for your lighting needs.

  • Consider using a drying rack or clothesline when possible to dry clothes.

Cell Service

  • Research Mobile virtual network operators (MVNO) who offer coverage in your area. These are discount resellers of service on the same network as the major carriers. They generally offer very significant savings.

  • Use non-contract plans so you can easily move to another carrier should a good deal come by.

  • Save money by buying your phone directly from the manufacturer or unlocking it from Amazon. Remember Android phones always cost far less than Apple devices.

  • Subscribe to a low-data plan and leverage WiFi at home and in public settings when possible.

Heating

  • Use programmable thermostats. These do not have to be terribly expensive or even “smart” devices. A basic programmable thermostat will do the trick to lower your heat at key times every day.

  • Dress for the season. Wear heavier clothing (think jeans, sweaters, sweatshirts, robes, etc.) indoors to reduce your need for higher heating temperatures.

  • Keep blankets readily available in areas where the family tends to gather such as the living room.

  • Plastic sheeting on the windows can make a great difference in reducing heat loss and thus causing the thermostat to make fewer calls for heat circulation.

  • Swap screens for storm windows where possible.

  • Drink hot beverages (coffee, tea, hot water) to maintain body warmth.

  • Close doors to areas of the house that do not need to be heated.

Water

  • Install low-flow shower heads and faucets.

  • Reduce shower time overall, by 10 minutes or less.

  • Do not leave the water running while washing dishes or brushing your teeth.

  • Add a filled 1-liter bottle of water to the toilet tank to reduce the amount of water filling each time.

  • Stop watering your lawn. Or at least less frequently. Make use of rainwater barrels when possible.

  • Laundry, wash clothes less often. Except for undergarments and soiled clothing, you do not need to wash your outerwear after every use.

Ultimately many utilities cannot be avoided but we can reduce our need for them by leveraging the tips above. Your mileage may vary in savings, but you are bound to save something. Remember to put your realized savings toward your financial goals, not spending.