Ten genius ideas to save money on your power bill

Winter’s here and for most of us that means increased power bills as we try to stay warm throughout the chilly weather. All those heaters, electric blankets and long hot showers might make you feel good, but they’re making your electricity provider feel even better (picture them quietly rubbing their hands together with glee at the thought of those increased profits). 

But winter doesn’t have to be a time of soaring energy bills. Check out these 10 great tips to help you save money on the cost of your electricity. 

Save on heating and cooling 

According to news.com.au, heating and cooling are the biggest power guzzler in the home – accounting for 38% of your electricity bill, with another 25% going to water heating. Here’s what you can do to reduce the cost of your heating and cooling: 

1. Properly insulate your home to conserve energy and make sure everything is well sealed from drafts. Hanging heavy curtains over windows and other glass areas will help to keep the warmth in.
2. Invest in a programmable heater that turns itself off when the pre-set temperature is reached.
3. Set your hot water temperature to somewhere between 60^oC and 65^oC – anything higher and you’re just throwing your money away.
4. Even though it’s cold on these wintery mornings, try to keep your shower time to 3 minutes (that way you’ll only use around 30 litres of that expensive hot water).
5. Save up to 10% energy consumption simply by increasing your air conditioner temperature by 1^oC in summer and decreasing the reverse cycle by 1^oC in winter. You won’t notice the temperature difference but you’ll definitely notice the reduction in your power bill! 

Get smart with your appliances 

Next on the list of power gobblers are your appliances, and there are plenty of things you can do to make them more wallet-friendly. 

6. Even if an appliance isn’t in use, if it’s plugged in and the wall switch is on, it’s using some energy – in particular your TV, computer and Playstation. The simple rule here is, if you’re not using it, switch it off at the wall.
7. Get smart with your fridge/freezer, and if you’re shopping for a new one, make sure you get one with a good energy rating. Where you locate your fridge matters too, and while you probably don’t have a choice in the kitchen, if you have a second fridge try to put it somewhere that is out of direct sunlight and in the coolest part of the house.
8. Always shop smart when you’re looking for new appliances and check the energy rating – there’s no point in saving on the purchase price if you’re going to pay more for power every time you use it. 

Use clever lighting 

As the nights are longer we naturally turn the lights on earlier, so if you want to keep a lid on your power costs, try these tips: 

9. Invest in energy-efficient LED bulbs – you’ll get the same light but use a lot less energy. According to LEDified, if you run 10 halogen 50W bulbs for 8 hours every day, you’ll pay around $432 in power costs. Replace them with 10W LED’s and your power bill will come in at around $86.40. 
10. If no one’s in the room, switch the light off. If your house is lit up like a Christmas tree, you’re paying for power that isn’t serving any useful purpose. 

If your electricity bill is through the roof and you want to invest in some less power-hungry gadgets, but don’t have the cash right now, we’re here to help - just take a look at our flexible mini-loans up to $5K to find out how quick and easy it is to get your hands on some extra cash. Once a loan is approved, we can usually get the funds into your bank account within a few hours - so you can start checking out those new energy-efficient items right now!