Here is a fact: Most people spend more than they have to on their electricity bill. This is one of those expenses that you just pay every month without much thought. But the economics of it say that lowering your utility bills is a great way to put money — a lot of money — in your pocket over time. Reduce your bill by just $10 a month, and you will save $120 a year. Compound that with interest over 10 years, and it adds up to over $2,300 that you’re just giving to the utility company. If you could save $20 a month, you would save yourself from forking over $5,000 in bills and compound interest. Look, I’m all for generosity, but your utility company can do without this particular gift from you.
This is how I lowered my average utility bill from more than $100 per month to around $60 per month:
I bought a rack at a large discount store for seven bucks. I use it for drying my clothes. The dryer is a massive energy hog. I started unplugging appliances that were not being used. This eliminates the “ghost load” that happens when a television or any appliance is plugged in. I daisy chained my coffee maker, toaster, and microwave so that I can unplug all three with one mighty pull when I’m not in the kitchen using them. I raised the temperature of my refrigerator, and my food still stays fresh. I dispensed with air conditioning. Strangely, I didn’t miss it one bit. Cold showers cool you down on even the hottest days. One unexpected advantage was that my allergies disappeared. I installed energy efficient light bulbs in every lighting socket. I bought them in bulk at a discount club for around $45. They will pay for themselves many times over. Plus, these things burn forever so I save money on replacement bulbs. “Early to bed and early to rise” (and unplugging everything before going to bed) really does make you wealthy and wise!
Lately I’ve been tinkering with building my own solar panels, and once I get those puppies installed next spring, my electric bill might become a thing of the past. Wouldn’t that be wonderful!
