Tips on Saving Money During the Winter Months

Saving money and managing your money may not be the most fun things to do, but they are necessary. Especially during the winter months when heating costs can be high.

Lowering your thermostat a few degrees during the day and at night can save you 10% on your energy bills.

1. Turn Down the Thermostat

One of the easiest ways to cut your energy costs is by lowering your thermostat. According to the Department of Energy, raising your thermostat a few degrees when you are gone for work or running errands, and then lowering it before sleeping or going to bed can save you up to 10% a year on heating costs.

A thermostat setting of 68 degrees is comfortable for most people, and you can drop the temperature even more while you sleep or are away from home. A few extra layers of clothing will keep you warm while you lower the heat.

It can take a few days for your body to adjust to a new heating schedule, so it is best to make small adjustments rather than shocking your system all at once. It can also help to set the desired seasonal thermostat settings together as a family, so everyone is on the same page about what the ideal temperature should be for the house.

2. Make Sure Your Furnace is in Good Working Order

Your furnace is responsible for keeping your home warm, so it’s important that it’s running well. Try testing it out before winter hits by switching your thermostat to “heat” and raising the temperature setting a few degrees. If everything is in good working order, you should hear your heater kick on almost instantly.

Keep an eye on your furnace filter, and change it regularly as needed. Clean furnaces are more efficient than dirty ones, which means they work less hard to produce heat and save you money on your energy bills.

It’s also a good idea to have your heating system professionally checked and maintained before winter begins. Finding and addressing minor problems early is much cheaper than paying for major repairs or replacements when the cold weather arrives.

3. Upgrade to a Programmable Thermostat

If your home is still equipped with a standard thermostat, it may be time to upgrade to a programmable model. This smart technology enables you to manage temperatures based on the schedules of everyone in your household. It also helps you cut energy costs and enjoy a cozier indoor environment.

During the winter months, most homes have a tendency to lose heat through drafts. You can prevent this by implementing weatherstripping in areas such as your attic, basement, crawlspace, and doors.

When you go on vacation or are away from home for extended periods, you can set your programmable thermostat to turn down and stay at an energy-saving temperature while you’re out of town. Most models have a “vacation” setting that can automatically maintain a lower temperature for up to eight hours. This can also help reduce wear and tear on your furnace and air conditioner, extending their lifespans.

4. Turn Off the Water Heater

The cost of keeping your home warm can quickly add up this time of year. Luckily, there are some easy strategies that can help you save money without having to make any major sacrifices.

For example, lowering your thermostat to just one degree can save you up to 1% per day. Additionally, you can lower your heating bills by sealing ducts and replacing light bulbs to energy efficient LED ones.

Another way to reduce your energy consumption is to invest in a new water heater tank that’s properly insulated. The insulation can save you up to 10% on your annual hot water costs. Additionally, it’s worth considering installing low-flow shower heads to further reduce your water usage.

You should never turn off your water heater in winter, however, as this could lead to a number of problems. It takes significant energy to reheat your water when you need it, and doing so can leave your pipes vulnerable to freezing and damage.