Save Money on Utility Bills During Warmer Months
Summer is here! Swimming pools are open, grills are fired up, and the demand for ice cream is sky high. But along with longer days and warmer weather comes a familiar challenge: higher utility bills. Even more so than winter, summer can drive up household energy costs. Fortunately, you can take a few simple, cost-effective steps to combat the heat without overspending.
Set Your Thermostat Strategically
Whenever it gets insanely hot, it’s tempting to crank the thermostat way down. But that quick fix oftentimes leads to a higher energy bill.
The U.S. Department of Energy recommends setting your thermostat to a comfortable level during the day, then raising it by about 7 degrees when nobody is home. Smart or programmable thermostats can make these adjustments automatically. Also, keep heat-generating appliances like lamps and computers away from the thermostat—they can cause the thermostat to misread the room temperature.
Dial Down the Water Heater
Water heaters typically account for 15% to 20% of a home’s energy use. During summer, there’s less need for piping-hot showers, so consider slightly lowering the temperature.
Laundry is another opportunity to cut costs. Wash clothes in cold water when possible and skip the dryer when you can. Invest in a drying rack to save both energy and money.
Use Ceiling Fans Wisely
Ceiling fans use a fraction of the energy that central air conditioning requires. Set fans to spin counterclockwise during the summer to push cooler air downward. Be sure to turn them off when you leave a room since fans cool people, not spaces.
Maintain Your Air Conditioning System
When it’s too hot for fans alone, air conditioning is essential. But it must run efficiently to remain effective. Change filters regularly, clean vents, and dust your thermostat. Follow the manufacturer’s maintenance guidelines to help prevent costly repairs or replacements.
Leverage Windows and Blinds
In areas where nighttime temperatures dip, open the windows after sunset to let in the cooler air instead of blasting the air conditioning. During the day, close the blinds and curtains to block direct sunlight, which helps maintain a consistent indoor temperature. Check for drafts or gaps around windows and use caulk or weatherstripping to seal them.
Unplug and Go Outside
One of the easiest ways to lower utility bills is to head outside. When you’re not at home, you’re not using lights, appliances, electronics, or the HVAC system. Hosting an outdoor cookout instead of using the oven is another simple way to keep your house cool and your energy bill lower.
Final Thoughts
At Savant, we’re committed to helping households operate efficiently so they can stay on track with their financial goals. If you’d like to review your spending, update your goals, or simply explore ways to optimize your summer budget, reach out to our team. We’re here to help.
Jonathon D. Merickel
Portfolio Advisor
CFP®, MBA