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True or False: Savings Methods

Blog | February 27th, 2012

If you have been keeping up with our blog, then you know that there are a lot of ways that you can save some money. We have looked at everything from how to save on your grocery bill to methods you can use to start a savings account. There are literally hundreds of ways that you can save, probably ways you never even thought of. Just take a walk around the house and you might see a problem that’s costing you a bunch of money that you never noticed. We are going to take a look at some of these issues and whether or not they will cause you a problem in the long term.

 

An incandescent light bulb won’t affect your electric bill much: FALSE

 

You may think that a simple light bulb can’t cause that much of a change to your power bill but you would be surprised! When you turn on an incandescent light bulb, only about 10% of the electricity is actually turned into light. The remainder is simply turned into heat. That’s a lot of wasted energy! To combat this, get compact fluorescent bulbs. They use 75% less energy then a regular light bulb and generate just as much light. Are you looking for a quick solution right now? Dust off your light bulbs! Dust blocks out the light, meaning you will have to turn your light up and use even more electricity.

 

A slow dripping faucet will have a big effect on your water bill: TRUE

 

You know that faucet in the bathroom that you have put off fixing for the last couple of months? You should probably do something about it. One faucet, leaking one drop a minute, will waste 34 gallons of water per year. That’s nothing to sneeze at! You can imagine how much more you could be wasting with a faucet leaking several drops per minute. The same goes for your showerhead and toilet. If they are leaking, take the time to fix them. While you are at it, switch to low flow faucets and showerheads. It can cut your water usage by 50% or more!

 

As long as it’s frozen or refrigerated, food will last forever: FALSE

 

Keeping your leftovers or unprepared food in your fridge or freezer is an excellent way to preserve unused food. However, it’s important to realize that you can’t keep it in there forever. Most prepared foods will only last about 3-4 days before they start building up a considerable amount of bacteria. Make sure that you are leaving your leftovers in the back of the fridge, where it is coldest, to help preserve them the longest. The same goes for your freezer. The colder it is, the longer it will stay preserved. Make sure that everything is being labeled before you put it in and, if it’s in there for longer than 3 months, trash it!

 

These are just some of the ways that you could be losing money without even realizing it. When you get a chance, take a look around the house and take a critical eye to everything. A few short steps could save you big time in the long run.