Winter can be expensive for your home, as you try to keep it warm and cozy throughout those cold months.<\/p>\n
\u201cIn preparation for increasing energy bills, consumers should look to budget that factor into their financial planning ahead of the actual increases,\u201d said Damian Serwin, budgeting expert and co-founder of Why Budgeting<\/a>. \u201cWhat might be a good idea is to factor in increased bills prior to actual increases in order to save up money aside and offset the increase in the winter months.\u201d<\/p>\n Good ideas, indeed \u2014 but what if you\u2019d rather lower your utility bills instead of just saving for their inevitable seasonal increase?<\/p>\n The following are five realistic improvements that can add up to a savings of more than $100 per month.<\/p>\n Check Out: 11 Key Reasons Budgeting Is Important<\/a><\/p>\n Learn More: 5 Signs You\u2019re Losing Money Every Month \u2014 and How To Find the Leaks<\/a><\/p>\n Pick the Right Utility Rate<\/p>\n Savings: Up to $50 per month<\/p>\n Amanda Freick, chief revenue officer of Altruistic<\/a>, is a veteran electrical utility engineer who has fielded countless calls from customers seeking to lower their monthly bills. She recommends calling your energy provider or looking online to learn your rate and tariff.<\/p>\n Some utilities let their customers change their rates \u2014 and you might be able to save real money by taking them up on the offer.<\/p>\n \u201cFor example, in 2020 I switched from a standard rate, which was a set cost per kWh, to a TOU, or time-of-use rate,\u201d Freick said. \u201cTime-of-use rates incentivize consumers to use less power during peak energy hours. By switching to the TOU rate and planning high consumption activities \u2014 such as pool pumps running and laundry \u2014 to the TOU times that had the lowest rate, I was able to save up to $50 a month.”<\/p>\n Install LEDs To Dim Your Lighting Bill<\/p>\n According to the DOE\u2019s Energy Saver program, lighting accounts for 15% of the typical household\u2019s energy costs \u2014 and what you put in those sockets matters.<\/p>\n \u201cLED lighting uses 90% less than a conventional standard halogen light bulb,\u201d said energy-efficient lighting expert Steven MacDonald, managing director of Scotlight Direct<\/a>. \u201cMany homeowners have not changed to LED or have only partially made the switch. For every light bulb you switch to LED, you save $3 to $4 from your annual energy bill.\u201d<\/p>\n According to the DOE\u2019s EnergyStar program, the average household uses 50 light bulbs. On the high end of MacDonald\u2019s calculations, that averages out to $200 in savings per year. But Energy Saver estimates the average household can do even better and save $225 by switching to LED \u2014 that\u2019s $18.75 per month.<\/p>\n Improve Your Attic Insulation<\/p>\n Forbes estimates that installing attic insulation requires an investment of between $1 and $7 per square foot \u2014 and in terms of long-term bill reduction, it might just be the best money you ever spend on your house.<\/p>\n \u201cThe first thing you need to do that will likely make the largest impact on your gas and electric bill is insulation,\u201d said Wesley Williams, real estate investor and founder of OC Real Estate LLC<\/a>. \u201cMake sure you have good insulation, especially in your attic space. It\u2019s amazing how much heat or cool you will lose through your roof if you don\u2019t insulate well.\u201d<\/p>\n According to EnergyStar, \u201cHomeowners can save an average of 15% on heating and cooling costs (or an average of 11% on total energy costs) by air sealing their homes and adding insulation in attics, floors over crawl spaces, and accessible basement rim joists.\u201d<\/p>\n Block the Escape Routes for Warm and Cool Air<\/p>\n Thermal transfer drains your checking account above your ceiling the most, but you\u2019re probably losing money through gaps all around you, too.<\/p>\n \u201cThe next thing to do is check your doors and windows and make sure they are properly sealed around the edges,\u201d Williams said. \u201cOver time, everything slowly expands and contracts, leaving gaps.\u201d<\/p>\n EnergyStar estimates that simple, cost-effective remedies like caulk and weatherstripping can lead to savings of 10% on total energy costs.<\/p>\n Install a Smart Thermostat<\/p>\n Converting to a modern and efficient climate-control system is a major home renovation that requires budgeting \u2014 and usually borrowing. If you\u2019re not ready for all that, there\u2019s a much easier way to lower high heating and cooling bills.<\/p>\n \u201cOne of the simplest and most effective ways is to install a programmable thermostat,\u201d said Lauren Davis, founder of the Moolah Project<\/a>. \u201cThis will allow you to increase or decrease the temperature in your home automatically, which can save a lot of money on heating and cooling costs. You can save at least 10% of your total energy bill just by making this one change.\u201d<\/p>\n