The days are getting shorter and many of us are eyeing our thermostat, ready to turn on the heat as soon as the temperature dips too low. Just as quickly as summer turned to fall, sooner than we realize (or than some of us would like) winter will be on our doorstep, too.
As we prepare for cooler days, longer nights and a change in the weather, we wanted to give you some advice on how to save money on energy costs, all while lowering your environmental impacts.
Take a Second Look at that Thermostat
If you live in a northern state during the winter months, it can be tempting to turn the heat up north of 75 degrees to stay warm inside, one of the quickest ways to reduce your energy bill is to turn that heat down just by a few degrees.
According to the U.S. Department of Energy, 48% of home energy consumption is on heating and cooling. To save some green this winter, consider lowering the temperature in your home by two or three degrees. By the Department of Energy’s estimates, you can save up to 3% off your heating bill for every degree you drop the temperature. That means, you can save nearly 10% by lowering your home’s temperature by just three degrees.
Replace lights with LEDs
It’s common knowledge that LED lights save you on energy costs, but just how much would you get back for making the switch?
According to the Consumer Federation of America, if you have at least 20 light bulbs in use at home you could save $1,000 or more by utilizing LED lightbulbs over ten years. And yes, we understand that LED lights are a little pricier than the traditional incandescent or halogen lights, but at an average cost of $5 a piece for the energy-efficient versions, if you use that same 20 lightbulbs we discussed earlier, you’ll earn your money back within 2 years of use.
Double Check Your Home’s Insulation
By making sure that your home is properly insulated in the winter months, you can help keep money from literally flying out the window. If you feel a draft of cool air when you’re sitting by a window or door in your home, despite having the heat on ,during the coldest time of the year, consider contacting your energy company for a home energy audit.
Take a look at the weather stripping around your doors and windows to make sure it’s still in tact and not worn down due to weather or old age. If you realize it’s time for repairs or replacement, the good news is it’s generally an easy fix, making this a cost-friendly fix that could save you money this winter.
This article was originally published on Oct. 21, 2018 in the Pioneer Press.
Bruce Helmer, a founding member of Wealth Enhancement Group, has been the host of the “Your Money” Radio Show for more than 20 years. He is also featured weekly on the Twin Cities CBS affiliate WCCO, and has penned three financial advice publications.