The current state of the economy has left many homeowners trying to save money any way that they can. In addition to refinancing their mortgage and cutting back on expenditures, reducing monthly utility bills can have a big impact on a budget. Even better, these money saving techniques will also help reduce your reliance on energy. Let’s take a look at three easy ways that you can save money on your monthly bills.
Comparing Rates
If you live in an area that has more than one utility company, chances are there is going to be some competition there and that spells savings for consumers. Instead of just picking one company and going with their service, irregardless of the cost, take the time to do some comparison shopping. Check to see what their current rates are as well as how often they levy rate increases to their customers. In addition, it’s also a good idea to shop for a utility company that offers discount rating plans or the ability to spread you high energy month bills out over the whole year to save you even more money.
Taking Advantage of Tax Write-Offs
Not only can more efficient furnaces and appliances save you money on your monthly bills, but many also have tax incentives that will help the units pay for themselves. We all know we need to find more green alternatives to old, inefficient appliances and the federal government has numerous write-offs available. For example, if you switch from an electric powered furnace to a gas powered furnace that is also a high efficiency model, you’ll be able to write a portion of the purchase off of your taxes.
That’s not the only way you can save money on your monthly bills. Some utility companies offer incentive rebates for switching out old appliances. Check with your local utility companies to see what kind of incentives they offer and what tax write-offs you may be eligible for as well. You may be surprised at just how much money you can save.
Living Green
Embracing a green lifestyle that is powered by sustainable energy can also have a positive impact on your monthly budget. Investigate renewable energy that you can use in your home, such as solar panels. They can produce energy for your home and the excess energy can be sold back to the power company, further reducing your expenses. Even switching to Energy Star certified appliances can help you use less energy and save more money. Newer furances with a 90% or higher efficiency rating will definitely lower your monthly energy bills.
When you take the steps to go green, you’re doing everyone a favor. Not only can you save money every single month, but you’re joining the growing revolution that will help make our planet better and reduce energy costs for everyone. It’s a win-win situation. Start taking action now by contacting your utility company and implementing the above techniques and you’ll be able to save more than just money — you could save the planet too.
Natasha Risinger works as an electricity advisor. She thrives on helping homeowners save money each month while helping the environment. This site has electricity rates that can help homeowners reduce their monthly spending.
