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Can a Smart Home Really Help you Save Money?

Can a Smart Home Really Help you Save Money?

Smart homes and smart technologies have become popular buzzwords over the past few years. From basic smart appliances, to fully-featured smart home solutions, many people are buying into the promise of reduced bills and an overall cool look for the house.

    Aggressive marketing techniques have seen the smart homes market grow into a multi million-dollar outfit; Statista puts the revenue figures at around US$927 million in the UK alone for 2016. In the United States, the industry is even bigger, at a massive US$48 billion in 2014, according to this infographic. Even with such crazy numbers, the industry shows no signs of slowing down, and is expected to grow to about US$3.7 billion in 2021.

    Globally, the rate of penetration for smart home technologies is expected to reach 38.7% by 2021, up from 2016’s 8.2%. Part of the reason why the industry is growing at such a high rate is the expectation by smart homeowners that they will accrue massive savings by using smart tech. So, how much should you expect to save with smart tech, if you do manage to squeeze something out of your annual expenses?

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    How Smart Tech Will Help You Cut Costs

      Smart tech often includes devices such as thermostats, refrigerators, air conditioners, and other home equipment that come with Wi-Fi capabilities. This setup allows you to control these smart devices remotely via an app on your smartphone, and even monitor usage to control consumption to possibly save costs.

      These aren’t cheap, though, with some going for hundreds or even thousands of dollars for complete smart systems. It will be years, however, before you can recoup the costs of acquiring such systems. For example, an investment of about US$5,000 will usually yield costs savings of about US$100 each year, which isn’t feasible for most people who are renting an apartment.

      With their high initial capital outlay, smart tech usually works well for landlords and homeowners who stand to gain cost benefits for the life of the tech. Many tenants will get smart devices for aesthetics and to reduce their impact on the environment, but rarely for significant cost savings. For homeowners and tenants who want to save every penny they can out of their monthly bills, it pays to plan ahead.

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      There are many ways you can save money by installing smart devices, and here are some of them.

      Smart Thermostats

      Heating and cooling take a huge chunk of monthly bills, with individuals spending up to half of the average household budget on them. Smart thermostats can adjust themselves in response to someone’s presence in the house, ensuring they are set to low or turned off when no one is around. Programmable thermostats can help you save up to 25% of the heating and cooling bill.

      Smart Lighting

      Lighting is only second to excessive heating when it comes denting the monthly bill. A smart lighting system can dim, turn off, or change the color of your bulbs for maximum energy savings. LED bulbs often cost more than regular bulbs, but can help you knock off at least US$35 per bulb annually.

      The water bill is another little-known area where individuals can save cash. This water utilization infographic by bathroom accessories company Big Bathroom Shop shows just how important water is for everyday life. Smart sprinklers automatically adjust the amount of water they let through according to the weather report, which can shave off up to 50% of the water bill.

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      Smart Power Outlets

      Standby power use is a significant contributor to energy wastage and unnecessary expenses, contributing to about 16% of the electricity bill. Smart power outlets enable you to monitor and restrict energy drain via the sockets, which can save you up to 16% of the electricity bill.

      There are hordes of other energy-saving devices that you can use for your home. Each will give you varying levels of energy and cost savings, so plan wisely before diving in.

      If you are a tenant, sometimes the right energy savings can be achieved by moving into a house that already has the proper energy-saving equipment and gadgets already installed. After all, moving into a smart home is much easier than assembling one.

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      Image Credit:

      Application money Via Pixabay, Man making a roof gesture on piggy bank Via Freepik

      Featured photo credit: hswstatic via s.hswstatic.com

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      Last Updated on September 20, 2018

      How to Stay Calm and Cool When You Are Extremely Stressful

      How to Stay Calm and Cool When You Are Extremely Stressful

      Being in a hurry all the time drains your energy. Your work and routine life make you feel overwhelmed. Getting caught up in things beyond your control stresses you out…

      If you’d like to stay calm and cool in stressful situations, put the following 8 steps into practice:

      1. Breathe

      The next time you’re faced with a stressful situation that makes you want to hurry, stop what you’re doing for one minute and perform the following steps:

      • Take five deep breaths in and out (your belly should come forward with each inhale).
      • Imagine all that stress leaving your body with each exhale.
      • Smile. Fake it if you have to. It’s pretty hard to stay grumpy with a goofy grin on your face.

      Feel free to repeat the above steps every few hours at work or home if you need to.

      2. Loosen up

      After your breathing session, perform a quick body scan to identify any areas that are tight or tense. Clenched jaw? Rounded shoulders? Anything else that isn’t at ease?

      Gently touch or massage any of your body parts that are under tension to encourage total relaxation. It might help to imagine you’re in a place that calms you: a beach, hot tub, or nature trail, for example.

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      3. Chew slowly

      Slow down at the dinner table if you want to learn to be patient and lose weight. Shoveling your food down as fast as you can is a surefire way to eat more than you need to (and find yourself with a bellyache).

      Be a mindful eater who pays attention to the taste, texture, and aroma of every dish. Chew slowly while you try to guess all of the ingredients that were used to prepare your dish.

      Chewing slowly will also reduce those dreadful late-night cravings that sneak up on you after work.

      4. Let go

      Cliche as it sounds, it’s very effective.

      The thing that seems like the end of the world right now?

      It’s not. Promise.

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      Stressing and worrying about the situation you’re in won’t do any good because you’re already in it, so just let it go.

      Letting go isn’t easy, so here’s a guide to help you:

      21 Things To Do When You Find It Hard To Let Go

      5. Enjoy the journey

      Focusing on the end result can quickly become exhausting. Chasing a bold, audacious goal that’s going to require a lot of time and patience? Split it into several mini-goals so you’ll have several causes for celebration.

      Stop focusing on the negative thoughts. Giving yourself consistent positive feedback will help you grow patience, stay encouraged, and find more joy in the process of achieving your goals.

      6. Look at the big picture

      The next time you find your stress level skyrocketing, take a deep breath, and ask yourself:

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      Will this matter to me…

      • Next week?
      • Next month?
      • Next year?
      • In 10 years?

      Hint: No, it won’t.

      I bet most of the stuff that stresses you wouldn’t matter the next week, maybe not even the next day.

      Stop agonizing over things you can’t control because you’re only hurting yourself.

      7. Stop demanding perfection of yourself

      You’re not perfect and that’s okay. Show me a person who claims to be perfect and I’ll show you a dirty liar.

      Demanding perfection of yourself (or anybody else) will only stress you out because it just isn’t possible.

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      8. Practice patience every day

      Below are a few easy ways you can practice patience every day, increasing your ability to remain calm and cool in times of stress:

      • The next time you go to the grocery store, get in the longest line.
      • Instead of going through the drive-thru at your bank, go inside.
      • Take a long walk through a secluded park or trail.

      Final thoughts

      Staying calm in stressful situations is possible, all you need is some daily practice.

      Taking deep breaths and eat mindfully are some simple ways to train your brain to be more patient. But changing the way you think of a situation and staying positive are most important in keeping cool whenever you feel overwhelmed and stressful.

      Featured photo credit: Brooke Cagle via unsplash.com

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