Money & Budgeting

Sometimes we may be saving money when we don’t think we are, and other times we may think we are being frugal and it is actually costing us a lot more money. Many appliances especially some of the larger power consuming products like washing machines, and other white goods in our homes have radically changed. Other engineering elements in our home have also improved greatly, and continue to change rapidly, and therefore we need to stay informed to have the correct logic for us to be able to make money saving decisions. Our utilities cover 3 main areas, gas, water and electricity. Here are 5 tips to saving on your utilities around your home…

• Newer appliances. Back in the day it might have been appropriate to keep older appliances for longer periods of time. Do you have friends or family who have the same oven and kettle for the past 20 years? And they believe they are being frugal. The reality is older appliances consume much larger amounts of power than their modern counterparts. You will use enormous amounts of power with an older oven than a modern convection oven for example. The amount of extra power you use in a year might be more than the cost of a new oven. This is a very good example of where people are spending way more while they THINK they are being frugal.