As the financial and job markets grow ever more unpredictable, everyone is looking for ways to save money and cut costs. While it’s true that many household bills are not negotiable, there are things you can do to reduce the amount of money they are currently draining from your monthly budget.

Teach your children the importance of conserving energy- start by reminding them to turn off all lights when they leave a room. Expand the rule to include household appliances, entertainment devices, and computers- more importantly, unplug these items when they are not in use (or use a power strip). As much as 75% of electricity that is used to power our favorite electronic devices is actually consumed when these items are turned off. Even small items like cell phone chargers can drain power if they are plugged in but not being used. Being more conscious of powering your electronics can save you hundreds of dollars a year on your power bill.

By simply turning the heat down two degrees in the winter and up two degrees in the summer, you can save as much as $1000 off your yearly bill. Whenever possible, use fans instead of air conditioning, especially in areas of the house that may not get as much use. During the winter, sleep under heavy blankets, and build fires for extra warmth during the day. Switch to a programmable thermostat that helps you take advantage of off-peak usage times in your home, such as when you are at work or school, or out of town on vacation.

Consider combining your home phone and cell phone- you can eliminate one entire monthly bill! If you and your spouse are currently on different cell phone plans, take advantage of a family plan that allows you to share a pool of minutes, text messaging and other features. Limit your social calls to friends and family for evenings and weekends when most cell phone providers offer free calling periods. Most cell phone companies allow you to change your calling plan without penalty- experiment with downgrading to a cheaper monthly plan. Stay aware of your monthly minute usage, as overage charges can be extremely costly- you can sign up for text messages on a routine basis that alert you of remaining minutes.

When you have children, it may feel like you’re constantly loading the washing machine. Switching the water temperature settings to “cold/cold” can save you as much as 15%- not to mention the temperature is easier on the life of your clothing. Try to avoid running the washing machine at less than capacity- combining loads will save a significant amount of energy.

Every few months make it a habit to review your monthly bills and pinpoint new opportunities to save money or cut back further. With a little diligence and extra effort, you’ll be able to easily keep more money in your family’s bank account- which is great news during times like these.

Posted in Home Budget

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