Do you know that you can save a lot of money by cutting down the cost of your day-to-day consumption in the house? Cost cutting is one thing that everyone would like to practice especially with the ever-rising cost of goods and services.

Whether you are trying to save up some money for a big purchase or paying up some student loans, it is important to know how to cut back on your day-to-day expenses to be able to meet your goal.

One of the major monthly expenses that you have to deal with is your household consumption. The following are some of the effective household consumption cost-cutting ideas.

1. Repair All Leaking Taps and Faucets

Leaking taps and faucets are not only annoying but they waste a lot of water, which in turn translates to elevated water bills. If you spot any leaks taps and faucets in your house you need to repair them immediately.

You can call a professional but if you want to save up on the cost of getting one then you can also learn how to fix a leaking shower and do it yourself. Remember, there are leaks that can go undetected for several months and you should know how to check on leaks around your home.

2. Use Energy Saving Light Bulbs

Using bulbs like the LED or the CFL are will cut down on your electricity bill. These bulbs are four times more energy efficient than the traditional incandescent bulbs. They also last for a number of years making them value for money.

If you use your bulbs for four hours a day, with an average electricity rate of $ 0.12-kilowatt hour and you replace your 60-watt bulb with a 14-watt energy saving bulb, you will be saving about $0.66 per month per bulb. If you change at least five bulbs in your house, you can save up to $40 a year.

3. Insulate Your Home Well

A poorly insulated house loses a lot of heat and this translates to high energy costs. Losing cool air during summer and warm air during winter is as a result of a poorly air sealed home. Ensure that you tightly seal your home to prevent any energy waste and also double glaze your windows and invest in some rugs for your wooden floors to prevent any air from escaping through the cracks.

4. Unplug All Unused Electrical Devices

Even though turned off, most electrical devices still draw some amount of electricity if they remain plugged into the sockets or extensions. This means that you will still be paying for electricity that you are not using at all. Always unplug all items from the power source and switch off the sockets too.

5. Turn off the Faucets While Brushing Your Teeth

If you do not want to use a cup to brush your teeth then you should always make sure you do not leave the tap running while brushing your teeth. Dentists recommend that one brush their teeth for at least two minutes; you can imagine how many gallons of water you are wasting when you let the tap run for that long.

You can also save your water bill by taking shorter showers and only running the dishwasher when it is full.

6. Install a Programmable Thermostat

With this kind of thermostat, you will not need to control your heating or cooling physically because it can automatically whenever necessary even if you are not home or are asleep. This will save a lot on your heating and cooling bills. You can also set the thermostat to either heat or cool of your home before you get there.

7. Get Rid of the Landline

If you still have a landline in your house then it is time to get rid of it. There is really no use for this home phone in Today’s day. It should be left for the business and office setting only.

Go wireless.

8. Cost Cutting and the Internet

Americans spend an average of $39.99 on the internet. A survey in 2015 shows that. 78% of the households had a desktop or a laptop, 75% had either a smartphone or any other handheld devices that use the internet, and 77% had a broadband internet subscription.

You need to try to cut down on your monthly internet bill by either buying your own router, negotiating for a lower charge and by examining your internet habits. If you do not use 100Mbps then there is no need of paying for it, you can switch to 5Mbps and still be able to watch your movies on Netflix or stream from Hulu too.

9. Lower the Temperature on Your Water Heater

Heating water is not cheap and it contributes to a large percentage of your entire cost of energy. This is because the water is hotter than anybody needs. One of the cost-cutting ways is to drop down the temperature to around 60 degrees Celsius and install a water blanket to help retain the heat.

You should also insulate any exposed hot water pipes to help you save more money.

10. Use Timers and Power Strips

This will help you turn your electrical devices both on and off. A power strip that has a switch on it when you turn it on helps to block the phantom charge in devices like the TV and DVD player. They can also manage the electricity flow based on a control device.

For example, your DVD player can only work when your TV is on. Power strips will eliminate all Phantom charges at night when your devices are not in use.

Consider These Cost Cutting Methods for Your Home

If you are serious about saving the money you use on your household consumption then these cost cutting methods will definitely help you save money. You will be able to save the money that you need with these and more effective ways.

Check out our home, lifestyle, and other sections on our blog for more on how to improve your life and your home.