5 Simple Money Saving Tips

Here are 5 simple things you can do yourself that can save you $1000 a year. That’s the best return on investment any of us will see this year, don’t you think?

1. Fix those leaky faucets. Spend $15—-Save $600

A faucet that is leaking just 5 drops every 30 seconds wastes 300 gallons of water a year. Currently a gallon of water in Denver costs $1.91 that’s $573 a year or $47.75 a month! A complete faucet repair kit at Ace Hardware is under $15.00.

2. Install a programmable thermostat – Spend $50—- Save $180

According to Energy Star the average household can save $180 each year in energy costs by installing a programmable thermostat and setting it to 70 degrees for 6 hours a day and 62 degrees for the remainder. Programmable thermostat prices range from $25 -$100 dollars www.energystar.gov

3. Install motion sensor switches. Spend $10—- Save $26

Do you keep your porch light on for safety reasons? What if the kids leave the basement light on for days at a time? In Denver a light bulb costs about 7 cents a day to stay lit, it may not seem like much but it can add up quickly. Buy a simple conversion switch that will fit in any light socket for as little as $10

4. Turn down the temperature on your water heater Spend $0—- Save $40

According to the US Department of Energy you can save from 3 – 5% on your energy bill by simply turning the temperature on your water heater down to 120 degrees and it costs you NOTHING! www.energysavers.gov

5. Replace the caulk around your tubs and showers Spend $20—- Save $200 or more!

The caulk around your tub and shower prevents water from leaking and damaging the walls and floors. Often you won’t become aware of a problem until the damage is extensive. A decent caulk gun and tube of caulk will cost you less the $20 but a call to a plumber to figure out the problem and a handywoman to repair the damage can easily add up to $200 or more.

What are you waiting for?