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How to Control Your Rising Utility Bill Costs

Are you afraid to open your utility bills in fear of what you’ll owe? It’s not an unfounded fear these days. Thanks to inflation, utility costs increased by a whopping 33% last year, and they aren’t expected to dip to pre-pandemic levels any time soon.

For anyone who’s on a shoestring budget, you must be smart about your money. Stretching your paycheck to cover all your bills and still have enough cash to set aside for savings will require cutting corners.

How Are These Costs Different from Emergency Spikes?

Let’s say you have a hidden water leak in your bathroom. All that extra running water means your next bill is triple what it usually is.

If you use your emergency fund to cover the repairs, you may not have any savings leftover to pay your bill. At that point, you might learn about online loans and how you can borrow money in an emergency.

Inflation’s effects on your utility bills aren’t an isolated plumbing issue. It’s an ongoing problem that will keep your bills higher than usual.

Online loans are only meant to be a safety net in an emergency, not sustained raised prices. For that, you’ll have to find ways to lower your energy consumption until inflation’s bubble deflates.

Simple Ways to Reduce Your Energy Use & Save More Money

1. Check Your Bill & Meter

Look at your gas, water, and electricity bills. Does it seem like you’re being charged for more energy than you’re using? Get in touch with your utility provider to check your meter is in working order. If it’s malfunctioning, you may be credited for any overcharges.

2. Take Advantage of Off-Peak Pricing

If your utility provider applies time-of-use rates, you’ll be charged different prices depending on whether you use energy at on- or off-peak times. You’ll spend less money by waiting to use appliances until off-peak times in the evenings and weekends.

3. Reset Your Thermostat

Another great way to control your utility spending is by setting your thermostat properly. In the winter, you should set your house to 68 degrees while you’re at home, dropping it lower whenever you go to work or sleep.

With the summer just around the corner, you should try to hit 78°F while at home. However, the higher you go, the better your savings. You could save 10 percent of your cooling costs by setting your thermostat to 88°F while you’re out.

4.Seal Drafts

Adjusting your thermostat won’t mean much if your house is constantly working hard to offset drafts. Holes and other damage in the weatherstripping around doors and windows let heated or cooled air out. Repairing these problems could come with10–20% energy savings.

5. Lower Your Water Temp

Reducing your water tank’s temperatures from 140°F to 120°F can save you as much as $400 each year.

6.Wash Laundry with Cold Water

Did you know 90% of the energy used by your washing machine goes towards heating the water? Simply switching to cold water cycles can save you a bundle — as much as $60 a year.

7. Hang up Your Laundry

The warmer weather of spring and summer can be a friend of your budget if you hang your laundry to dry. Whether you hang your clothes outside or on a clothes horse inside, you’ll save nearly $5 a month.

The Takeaway:

While each individual chore will save you a handful of bucks each month, they’re at their most cost-efficient when you bundle them all together. These tips can help you offset the rising cost of utilities, so you aren’t shocked by your next bill.

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