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3 Affordable and Simple Tools To Reduce Your Utility Bills

Interested in reducing the cost of your utility and energy bills? Here we show you a few easy ways you can increase your savings while decreasing your energy consumption.

Whether it’s forgetting to shut off the TV, or keeping the water on when it’s not needed, there are a lot of ways that you can increase the cost of your utility bills. With the average utility bill costing S$124 to S$161 per month, not paying attention to your energy and water consumption can add up to quite a bit. So, to help you combat wasteful utility usage we found 4 affordable products that can help you save money and energy. Not only are these products simple to use and install, but they actually pay for themselves within the span of a few short months, making them great for any budget-conscious consumer.

Temperature Control With A Smart Thermostat

One of the largest contributors to an individual’s electricity consumption is their heating and cooling. In fact, heating and cooling is responsible for more than one third of your electricity bill . Many times, individuals forget to shut off their thermostats when they aren’t home or leave their air conditioners on to come home to a cool flat, thus driving up energy consumption and electricity cost. A great way to solve this issue is by installing a smart thermostat.

smart thermostat

A smart thermostat allows you to control the temperature from your phone regardless of where you are, which can help you easily turn off your thermostat should you forget to do so before leaving your flat. In turn, you can reduce your electricity use by 23% , thus reducing your bill by approximately S$16 per month. Even better, you can pre-set a schedule for when your thermostat is turned on and off. With these features available, a smart thermostat is a very passive way to save energy and money.

Smart Plugs For Larger Appliances

One of the simplest tools you can utilize to reduce your energy consumption is a smart plug. An individual can turn the plug on or off from their phone, ultimately controlling when a connected device receives electricity. These plugs can be used for a variety of appliances such as a computer, TV, dishwasher, gaming console, and more. An added benefit to using smart plugs is that they eliminate the issue of phantom power usage, which occurs when an appliance or device is consuming energy even when it’s not being used.

smart plug

Phantom power is responsible for approximately 10% of total electricity use. Given that the average monthly electricity bill is S$70, an individual pays S$7 each month for electricity on appliances they aren’t even using. While smart plugs do draw a small amount of energy in order to be able to stay connected to the wifi, the amount of energy it saves offsets its energy use.

Water Reduction With A Water Efficient Showerhead

While it is great to enjoy a nice long shower, showers are actually responsible for around 29% of your overall water bill. Considering that the average water bill in Singapore is S$56 per month, that means that you spend S$16.24 per month just to take a shower. A good way to reduce that cost is to use a water-efficient showerhead, which can limit the amount of water that comes out by an average of 30%. This means that with the installation of one of these shower heads, you can save around S$60 per year on water costs.

showerhead

Simple & Affordable Ways To Save On Your Bills

There are many affordable tools available to help decrease the cost of your energy consumption. While these tools do have a small upfront investment, they pay themselves off many times over. making them a great choice for any diligent savers. Depending on your budget, there are even more ways to save on your home bills besides saving on utilities. For instance, you can consider switching to a higher value insurer when you need to renew your home insurance, consider refinancing your mortgage and try switching to energy efficient appliances. By making these changes, you will be able to substantially decrease the overall cost of your monthly home expenses.

Alex Noonan

Alex is a Junior Research Analyst at ValueChampion, analyzing various financial decisions for consumers in Singapore, from which credit cards provide the best values, how to maximise value of miles and other personal finance matters. Previously an SEO Analyst at a New York based fin-tech company, specializing in small business advice, he has extensive experience in content production & web optimization. He is a recent graduate of Rutgers University, with a major in Supply Chain Management.

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