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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 January 3, 2020

      The 10 Essential Habits of Positive People

      The 10 Essential Habits of Positive People

      Are you waiting for life events to turn out the way you want so that you can feel more positive about your life? Do you find yourself having pre-conditions to your sense of well-being, thinking that certain things must happen for you to be happier? Do you think there is no way that your life stresses can make you anything other than “stressed out” and that other people just don’t understand?  If your answer is “yes” to any of these questions, you might find yourself lingering in the land of negativity for too long!

      The following are some tips to keep positive no matter what comes your way. This post will help you stop looking for what psychologists call “positivity” in all the wrong places!  Here are the ten essential habits of positive people.

      1. Positive people don’t confuse quitting with letting go.

      Instead of hanging on to ideas, beliefs, and even people that are no longer healthy for them, they trust their judgement to let go of negative forces in their lives.  Especially in terms of relationships, they subscribe to The Relationship Prayer which goes:

       I will grant myself the ability to trust the healthy people in my life … 

      To set limits with, or let go of, the negative ones … 

      And to have the wisdom to know the DIFFERENCE!

       2.  Positive people don’t just have a good day – they make a good day.

      Waiting, hoping and wishing seldom have a place in the vocabulary of positive individuals. Rather, they use strong words that are pro-active and not reactive. Passivity leads to a lack of involvement, while positive people get very involved in constructing their lives. They work to make changes to feel better in tough times rather than wish their feelings away.

      3. For the positive person, the past stays in the past.

      Good and bad memories alike stay where they belong – in the past where they happened. They don’t spend much time pining for the good ol’ days because they are too busy making new memories now. The negative pulls from the past are used not for self-flagellation or unproductive regret, but rather productive regret where they use lessons learned as stepping stones towards a better future.

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      4. Show me a positive person and I can show you a grateful person.

      The most positive people are the most grateful people.  They do not focus on the potholes of their lives.  They focus on the pot of gold that awaits them every day, with new smells, sights, feelings and experiences.  They see life as a treasure chest full of wonder.

      5. Rather than being stuck in their limitations, positive people are energized by their possibilities.

      Optimistic people focus on what they can do, not what they can’t do.  They are not fooled to think that there is a perfect solution to every problem, and are confident that there are many solutions and possibilities.  They are not afraid to attempt new solutions to old problems, rather than spin their wheels expecting things to be different this time.  They refuse to be like Charlie Brown expecting that this time Lucy will not pull the football from him!

      6. Positive people do not let their fears interfere with their lives!

      Positive people have observed that those who are defined and pulled back by their fears never really truly live a full life. While proceeding with appropriate caution, they do not let fear keep them from trying new things. They realize that even failures are necessary steps for a successful life. They have confidence that they can get back up when they are knocked down by life events or their own mistakes, due to a strong belief in their personal resilience.

      7. Positive people smile a lot!

      When you feel positive on the inside it is like you are smiling from within, and these smiles are contagious. Furthermore, the more others are with positive people, the more they tend to smile too! They see the lightness in life, and have a sense of humor even when it is about themselves. Positive people have a high degree of self-respect, but refuse to take themselves too seriously!

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      8. People who are positive are great communicators.

      They realize that assertive, confident communication is the only way to connect with others in everyday life.  They avoid judgmental, angry interchanges, and do not let someone else’s blow up give them a reason to react in kind. Rather, they express themselves with tact and finesse.  They also refuse to be non-assertive and let people push them around. They refuse to own problems that belong to someone else.

      9. Positive people realize that if you live long enough, there are times for great pain and sadness.

      One of the most common misperceptions about positive people is that to be positive, you must always be happy. This can not be further from the truth. Anyone who has any depth at all is certainly not happy all the time.  Being sad, angry, disappointed are all essential emotions in life. How else would you ever develop empathy for others if you lived a life of denial and shallow emotions? Positive people do not run from the gamut of emotions, and accept that part of the healing process is to allow themselves to experience all types of feelings, not only the happy ones. A positive person always holds the hope that there is light at the end of the darkness.  

      10. Positive person are empowered people – they refuse to blame others and are not victims in life.

      Positive people seek the help and support of others who are supportive and safe.They limit interactions with those who are toxic in any manner, even if it comes to legal action and physical estrangement such as in the case of abuse. They have identified their own basic human rights, and they respect themselves too much to play the part of a victim. There is no place for holding grudges with a positive mindset. Forgiveness helps positive people become better, not bitter.

      How about you?  How many habits of positive people do you personally find in yourself?  If you lack even a few of these 10 essential habits, you might find that the expected treasure at the end of the rainbow was not all that it was cracked up to be. How could it — if you keep on bringing a negative attitude around?

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      I wish you well in keeping positive, because as we all know, there is certainly nothing positive about being negative!

      Featured photo credit: Janaína Castelo Branco via flickr.com

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