Here are a few ways to save a substantial amount of money by reducing household expenses. These are simple to do and require very little cash outlay.
Refinance Your Mortgage
Rates are still very low> I recently saw FHA mortgages at 2.75% fixed rate for 30 years. Call a mortgage broker and see if this will save you big bucks.
Lighting
Do you still have old fashioned incandescent bulbs in your home? If yes, You’re Wasting $$$ !
Replace those 60 watt bulbs with LED bulbs. Instead of using 60 watts, you’ll use 9 watts for the same amount of light. These 60 watt LED replacements can be found for as little as $2.00 each. And they’ll last for years.
Solar Panels
A great idea for many. You can get the solar system with no out of pocket cost. With my system, it’s estimated that over 20 years the solar system will save me about $60,000. The system should last at least 20 years. But if your roof won’t last that long, you’ll need to remove the system, replace the roof and reinstall the system.
Change Your Furnace Filters
Pretty simple – right? Change your filters every month. For $12.00 per year the furnace will be more efficient, and it will last longer.
Find and Eliminate Those Drafts
Walk around with a candle on a cold, windy day. Check the windows, doors and exterior walls around base and ceiling moldings. If you see the candle wavering you have an air leak. Try weatherstripping or caulk. Light switches and receptacles often leak air. Gaskets are available to cut that leakage. This is a great way to reduce your heat and air conditioning expenses.
Homeowners Insurance
Don’t assume that last year’s insurance company will still be the best one for you. Shop other companies. Maybe you can do better.
Air returns
These are the return vents that take air from the house and return the air into the furnace to get heated or cooled. Typically these returns use the area between the studs and the sheetrock as the air channel. The vents are usually at the bottom of the wall. Many times these returns are blocked by furniture. Think about cutting a hole in the sheetrock above about 10″ – 12″ from the ceiling and covering with a vent cover. In the summer you’ll be removing the rising hot air, cooling it and returning colder air. In the winter you’ll be roving the warmer air from the top of the room and reheating it to supply heat more efficiently.
I hope some of these ideas help.