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- 9 Devices That Can Cause Your Electricity Bill To Skyrocket (financebuzz.com)
Nine Sneaky Energy Hogs That Might Be Draining Your Wallet
Most of us don’t think twice about our home’s electricity usage until we see the bill. But appliances and electronics can be silent budget busters. Small changes can make a big difference, so let’s look at nine common culprits that might be secretly inflating your energy costs.
- Air Conditioner: This is often the biggest energy hog, especially during warmer months.
Heating and cooling account for over half of your home’s energy use. A simple one-degree thermostat adjustment can save about 3% on your monthly bill.
- Water Heater: Those hot showers can really add up.
Water heating can consume up to 18% of your home’s energy. Lowering the temperature to 120 degrees Fahrenheit, insulating hot water pipes, and using low-flow showerheads can help.
- Lighting: While LED bulbs are much more efficient, lighting still uses about 10% of your electricity. The old advice still holds true: turn off lights when you leave a room.
- Refrigerator: This appliance runs 24/7, using around 7% of your home’s energy. Keep the coils clean, avoid overfilling, and organize frequently used items for quicker access to minimize open-door time.
- Washer and Dryer: Clean clothes come at a cost, using about 5% of your home’s energy.
Washing clothes in cold water and air drying whenever possible can help. Running these appliances during off-peak hours (typically late night/early morning) can also save money.
- Electric Oven: At about 3% of your monthly bill, oven usage might seem small, but it adds up. Using a grill or air fryer, especially in summer, can reduce oven use and the strain on your AC.
- Dishwasher: Dishwashers use about 2% of your electricity. Running full loads and skipping the heated dry cycle can save a few dollars each month.
- TV and Media Equipment: Surprisingly, these devices also use around 2% of your electricity, often due to standby mode. Unplugging them completely when not in use can save energy.
- Computers: Computers use roughly 1% of your home’s energy. Setting your computer to sleep after a period of inactivity can minimize energy waste.
Saving Energy and Money: A Win-Win
Making an effort to reduce electricity use benefits both your wallet and the environment. And for those looking for a bigger change, consider solar panels. They could eventually eliminate your electricity bill altogether.
Bonus Financial Tips:
- Tackle Debt: Debt can hinder your financial progress. Explore options like balance transfer cards or debt counseling.
- Boost Income: Supplemental income can provide financial breathing room. Consider a part-time job or side hustle.
- Cut Expenses: Focus on your biggest expenses for the most significant savings. Shop around for better rates on auto insurance or explore travel credit cards to offset vacation costs.
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- 9 Devices That Can Cause Your Electricity Bill To Skyrocket (financebuzz.com)