Energy saving tips to help save money!

In the current financial climate, we’re all looking for ways to save some money to spirit away into our savings accounts. Sometimes, we don’t have to look too far to find some ways to do this – at home is a great place to start. 

Energy saving tips to help save money

If you're looking for ways to avoid wasting energy – and therefore money - we've got some helpful tips. Not only will these energy-saving practices be gentle on your wallet, but they'll also contribute to reducing your carbon footprint and embracing a more sustainable lifestyle.

Tips for Energy-Efficient Home Heating and Cooling

Given that heating and cooling make up 40% of energy consumption in the typical Australian household, it's no wonder that energy bills tend to soar as temperatures drop. Nevertheless, there are still ways to keep your home warm (or cool) without draining your finances.

  • Set your system's temperature between 18°C and 20°C for heating, and between 23˚C and 26˚C for cooling. Each degree above for heating, or below for cooling could inflate your energy bill by 10%. 
  • If your heating system doesn't allow for zone control, close the doors to unoccupied areas. By only heating or cooling the rooms you're using, you'll minimise energy usage. 
  • You can help your machine run more efficiently in summer by shading the outdoor unit, and keeping filters clean all year round.
  • For long-term solutions, you could consider investing in solar panels, or a solar heating and cooling system and perhaps upgrading your home's insulation. If you would like to borrow for home renovations, you could consider a flexible personal loan.

Reducing Water Consumption

Hot water consumption accounts for approximately 20% of energy bills, making it another good starting point for overall energy reduction. Here are some energy-saving practices you can adopt around your home:

  • Opt for shorter showers – maybe grab a timer and set a limit. 
  • Wash your clothes using cold water and wait until you have a full load. 
  • Check if your washing machine has an eco-cycle option, which consumes less energy. 
  • Rather than using a dryer, take advantage of the sun’s warmth or place your clothes near a heater if it’s already on. 
  • Run your dishwasher only when it’s full and select the eco-cycle setting.
  • Consider installing a solar hot water system.

Power-Saving Pointers

You can make a significant impact on both your finances and the environment by implementing a few changes at home. Here are some power-saving suggestions:

  • Switch to LED light bulbs, if they are compatible with your existing light fixtures. These bulbs consume up to 75% less energy than halogen ones, last 5-10 times longer, and offer better value for money. 
  • Remember to turn off lights and appliances when you’re not using them. Completely switching them off at the wall can save more power than leaving them on standby. 
  • Check if your refrigerator is set to the appropriate temperature. Since it operates around the clock, it can be costly to run. Set your fridge between 4°C and 5°C, and your freezer between -15°C and -18°C. 
  • When purchasing appliances, prioritise energy-efficient models by reviewing their energy rating. Although they may have a slightly higher upfront cost, their reduced energy consumption will pay off in the long run.

However you choose to approach getting savvy with your cash, make sure those savings are put somewhere safe like a high interest savings account or term deposit, ready for a rainy day, or building up for the next big purchase you’re saving for. 

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