How to Save Dollars Using Money-Saving Strategies at Home

Repairing a leaking faucet will save you money every month.

Putting money in the bank can be difficult when the price of just about everything is rising and you find yourself earning less money than before. While you can't always control the amount of money coming in, you can do something about the amount of money going out by following the old adage, "Waste not, want not." Following are some simple, money-saving strategies that you can utilize in your home to reduce your spending and increase your savings.

Instructions

1. Be conscious of lights. Leaving the lights on in an unoccupied room is a waste of electricity and a habit that can cost you a significant amount of money. You can reduce your electric bill by making a conscious effort to turn off the lights when you exit a room, replacing traditional bulbs with energy-efficient light bulbs, and turning off and unplugging computers, televisions and appliances when not in use. If you leave outside lights on at night, be sure to turn them off in the morning.

2. Be mindful of running water. Check your faucets and plumbing for leaks. If you have a leaking or dripping faucet or shower head, have it fixed, or replace it with a new water-saving fixture. A low-flow faucet aerator will significantly decrease the amount of water that comes out of your faucet, according to the Massachusetts Water Resources Authority. Check with your water-service provider to see if they can provide you with a free water-efficiency kit. Also, save money by turning off your faucet when washing the dishes. Bathe in half a tub of water, and avoid flushing your toilet unnecessarily.

3. You can reduce electric and gas heating costs by turning your heat down to about 67 degrees when nobody is home. You can also lower the heat at night and stay warm by covering yourself with blankets and comforters. Prevent the heat in your house from escaping by making sure all the doors and windows in your home are tightly closed.

4. Slash your food bills. Food is one of our biggest monthly expenses. You can reduce your household grocery costs by clipping coupons for products you regularly buy, taking advantage of loyalty cards that offer cash back and reduced costs on select products. Setting aside a "cooking day" where you prepare several dishes and then freeze them in individual or family portions can save you big bucks. Rather than purchasing lunch or ordering takeout on days that you don't feel up to cooking, you can simply pull out a frozen premade meal and defrost.

References

• F.E. Warren Air Force Base: Conserve Energy-Save Now or Pay Later
• Environmental Protection Agency: Climate Change Kids Site
• Massachusetts Water Resources Authority: Tips for Saving Water at Home