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How Your Phone Can Help You Reduce Your Energy Bill

How Your Phone Can Help You Reduce Your Energy Bill

Heating and cooling your home can really hike up the price of your electricity bill, especially if you live in an area with extreme temperatures.

For instance, in the south, where humidity and heat are both high most of the year, homeowners tend to run their A/C constantly. When they don’t, the temperature inside their homes can become unbearable.

Not only is this bad for energy consumption, it’s terrible for the environment. Higher energy consumption means more fossil fuels are needed, and that translates to an increase in greenhouse gases. That’s why everyone should do their part to reduce their energy footprint as much as possible.

To save money on heating and cooling, you can do basic maintenance on AC units, swap out thermostats for more efficient ones, and even seal up ducts. Most of that stuff requires you to get in touch with a professional, however.

Wouldn’t it be nice if you could reduce your energy footprint on your own, without outside help? You might know that your smartphone can make you more productive, but did you know there are apps and devices that can help you save money? That’s right, you can use your phone to save money on your electricity bill.

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Kill-Ur-Watts

In 2012, the Department of Energy held a contest that tasked developers with creating “apps for energy,” which would essentially help people reduce energy consumption. During the event, KeyLogic Systems Inc. came up with the app Kill-Ur-Watts.

It is a free tool that allows you to track how much energy you use — after entering consumption data on your own — via a relative score. You can then take the score and apply it to reduce your energy footprint.

All information entered into the app is presented visually through charts, graphs and indicators. You can even square off with friends to see who gets the better score. It’s a great way to get motivated and save some money.

Get it: Kill-Ur-Watts on iTunes | Free

Energy Cost Calculator

Want to quickly track how much energy you’re using in your home and find out the estimated cost? You can do all that with the Energy Cost Calculator app.

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Just take a look at the power meter on the outside of your home and use the numbers you gather to estimate a few stats. You must type in your estimated power consumption per hour, the hours of energy you use each day, and the cost per watt or kilowatt, which you can find on your power bill. The calculator will then tell you how much energy you’re using and roughly how much that costs.

The U.S. Energy Information Administration calculated the 2015 residential average was at about $114 per month. You can compare your bill to the average to see just how high your consumption ratings are.

Get it: Energy Cost Calculator on iTunes | Free

Energy CURB

Energy trackers and power calculators are great, but if you don’t know how to cut down on the amount of energy you’re using, they won’t make a lick of difference. That’s the point of Energy CURB, which offers you helpful advice for reducing your energy consumption. This app could be the Cadillac of energy apps.

If you’re looking for something that you can apply to your home and integrate everywhere, then CURB will work for you. It will help you allocate a specific budget and notify you if you’re close to the limit — and you can track trends over time. You can also integrate with other smart or green energy sources, such as your electric car and solar panels.

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When you make the right moves, you could save up to 20 percent on your home’s heating and cooling costs. The tips are valuable and will certainly help you save some money.

Get it: Energy CURB on iTunes | ~$300

Nest Learning Thermostat and App

The Nest learning thermostat is a “smart” home device, or more specifically a smart thermostat to replace your “dumb” one. It comes with a free companion app for Android and iOS.

While the Nest can interface with a variety of smart home products, increasing its practicality, the true allure is the cost savings it can offer. The thermostat works autonomously to help reduce energy usage in your home. It learns your habits and preferences, and then automatically adjusts the temperature in your home accordingly:

  • You can set it up so it turns off the air when you leave for errands or work, and turns it back on when you head home.
  • You can have it track your location via your smartphone
  • You can control everything on the thermostat through your phone

The companion app is free, but the Nest is not. Nest claims its smart thermostat will “pay for itself in cost savings” over time by helping you to reduce your energy bill. In fact, some energy companies will refund you the cost of Nest when you install the device and sign up for select plans, simply because you can save so much.

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Get it: Nest Learning Thermostat | $249

Light Bulb Finder

Believe it or not, one of the most egregious power hogs in your home may be your light bulbs. You can actually save quite a bit of money by swapping out your traditional bulbs with more energy-efficient ones.

According to the U.S. Department of Energy, changing to more efficient bulbs means you will use about 25 percent to 80 percent less energy. These more modern bulbs tend to last 3-25 times longer than traditional ones, saving you even more money.

With the Light Bulb Finder app, you can find local stores that sell energy-efficient bulbs. The app also provides a bunch of helpful tips, namely concerns you’ll want to know about regarding traditional bulbs. It will even recommend different types of bulbs.

Get it: Light Bulb Finder | Free

By following these tips along with a few others, you’ll save money on your heating and cooling costs, as well as reduce your carbon footprint. Plus, it’s kind of fun to challenge yourself and see how you can reduce your costs.

Featured photo credit: Pexels via pexels.com

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Megan Wild

Editor, Freelancer

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Published on November 20, 2018

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The truth is, there are many “money saving guides” online, but most don’t cover the root issue for not saving.

Once I’d discovered a few key factors that allowed me to save 10k in one year, I realized why most articles couldn’t help me. The problem is that even with the right strategies you can still fail to save money. You need to have the right systems in place and the right mindset.

In this guide, I’ll cover the best ways to save money — practical yet powerful steps you can take to start saving more. It won’t be easy but with hard work, I’m confident you’ll be able to save more money–even if you’re an impulsive spender.

Why Your Past Prevents You from Saving Money

Are you constantly thinking about your financial mistakes?

If so, these thoughts are holding you back from saving.

I get it, you wish you could go back in time to avoid your financial downfalls. But dwelling over your past will only rob you from your future. Instead, reflect on your mistakes and ask yourself what lessons you can learn from them.

It wasn’t easy for me to accept that I had accumulated thousands of dollars in credit card debt. Once I did, I started heading in the right direction. Embrace your past failures and use them as an opportunity to set new financial goals.

For example, after accepting that you’re thousands of dollars in debt create a plan to be debt free in a year or two. This way when you’ll be at peace even when you get negative thoughts about your finances. Now you can focus more time on saving and less on your past financial mistakes.

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How to Effortlessly Track Your Spending

Stop manually tracking your spending.

Leverage powerful analytic tools such as Personal Capital and these money management apps to do the work for you. This tool has worked for me and has kept me motivated to why I’m saving in the first place. Once you login to your Personal Capital dashboard, you’re able to view your net worth.

When I’d first signed up with Personal Capital, I had a negative net worth, but this motivated me to save more. With this tool, you can also view your spending patterns, expenses, and how much money you’re saving.

Use your net worth as your north star to saving more. Whenever you experience financial setbacks, view how far you’ve come along. Saving money is only half the battle, being consistent is the other half.

The Truth on Why You Keep Failing

Saving money isn’t sexy. If it was, wouldn’t everyone be doing it?

Some people are natural savers, but most are impulsive spenders. Instead of denying that you’re an impulsive spender, embrace it.

Don’t try to save 60 to 70% of your income if this means you’ll live a miserable life. Saving money isn’t a race but a marathon. You’re saving for retirement and for large purchases.

If you’re currently having a hard time saving, start spending more money on nice things. This may sound counterintuitive but hear me out. Wouldn’t it be better to save $200 each month for 12 months instead of $500 for 3 months?

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Most people run into trouble because they create budgets that set them up for failure. This system won’t work for those who are frugal, but chances are they don’t need help saving. This system is for those who can’t save money and need to be rewarded for their hard work.

Only because you’re buying nice things doesn’t mean that you’ll save less. Here are some rules you should have in place:

  1. Save more than 50% of your available money (after expenses)
  2. Only buy nice things after saving
  3. Automate your savings with automatic bank transfers

These are the same rules that helped me save thousands each year while buying the latest iPhone. Focus only on items that are important to you. Remember, you can afford anything but not everything.

How to Foolproof Yourself out of Debt

Personal finance is a game. On one end, you’re earning money; and on the to other, you’re saving. But what ends up counting in the end isn’t how much you earn but how much you save. Research shows that about 60% of Americans spend more than they save.[1]

So how can you separate yourself from the 60%?

By not accumulating more debt. This way you’ll have more money to save and avoid having more financial obligations. A great way to stop accumulating debt is using cash to pay for all your transactions.

This will be challenging, depending on how reliant you are with your credit card, but it’s worth the effort. Not only will you stop accruing debt, but you’ll also be more conscious with what you buy.

For example, you’ll think twice about purchasing a new $200 headphone despite having the cash to buy them. According to a poll conducted by The CreditCards.com, 5 out of 6 Americans are impulsive spenders.[2]

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Telling yourself that you’ll have the discipline to not buy things won’t cut it. This is equal to having junk food in your fridge while trying to eat healthy–it’s only a matter of time before you slip. By using cash to make your purchases, you’ll spend less and save more.

A Proven Formula to Skyrocket Your Savings

Having proven systems in place to help you save more is important, but they’re not the best way to save money.

You can search for dozens of ways to save money, but there’ll always be a limit. Instead of spending the majority of your effort saving, look for ways to increase your income. The truth is that once you have the right systems in place, saving is easy.

What’s challenging is earning more money. There are many routes you can take to achieve this. For example, you can work long and hard at your current job to earn a raise. But there’s one problem–you’re depending on someone else to give you a raise.

Your company will have to have the budget, and you’ll have to know how to toot your own horn to get this raise. This isn’t to say that earning a raise is impossible, but things are better when you’re in control right? That’s why building a side-hustle is the best way to increase your income.

Think of your side-hustle as a part-time job doing something you enjoy. You can sell items on eBay for a profit, or design websites for small businesses. Building a side-hustle will be on the hardest things you’ll do, be too stubborn to quit.

During the early stages, you won’t be making money and that’s okay. Since you already have a source of income, you won’t be dependent on your side-hustle to pay for your expenses. Depending on how much time you invest in your side-hustle, it can one day replace your current income.

Whatever route you take, focus more on earning and save as much as possible. You have more control than you give yourself credit for.

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Transform Yourself into a Saving Money Machine

Saving money isn’t complicated but it’s one of the hardest things you’ll do.

By learning from your mistakes and rewarding yourself after saving you’ll save more. What would you do with an extra $200 or $500 each month? To some, this is life-changing money that can improve the quality of their lives.

The truth is saving money is an art. Save too much and you’ll quit, but save too little and you’ll pay for the consequences in the future. Saving money takes effort and having the right systems in place.

Imagine if you’d started saving an extra $100 this next month? Or, saved $20K in one year? Although it’s hard to imagine, this can be your reality if you follow the principles covered in this guide.

Take a moment to brainstorm which goals you’d be able to reach if you had extra money each month. Use these goals as motivation to help you stay on track on your journey to saving more. If I was able to save thousands of dollars with little guidance, imagine what you’ll be able to do.

What are you waiting for? Go and start saving money, the sky is your limit.

Featured photo credit: rawpixel via unsplash.com

Reference

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