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Inflation now costs American households an additional $300 a month. Everything from fuel to your favorite snack at the grocery store costs a little bit more than a few months ago.
You can’t control inflation, fuel prices, or anything else related to the economy.
It is possible to take matters into your own hands to lower your monthly bills. There are strategic investments that you can make in your home.
These projects have the most bang for their buck. You spend money now, but the ROI comes with lower bills and higher home values.
Does that sound appealing to you? Read on to discover what the best home projects are to save money.
1. Programmable Thermostat
The average monthly electric bill is $117 per month. A programmable thermostat is a small investment you can make to improve the efficiency of your home.
You don’t have to worry about forgetting to turn the temperature down when you’re away. You can set it and forget about it.
2. Get Energy Efficient Appliances
If you have a young family, you’re going at least a load of laundry a day. Between water and energy costs, it could cost you $1 just to wash clothes.
Don’t forget the costs of other appliances, such as the dishwasher, dryer, and refrigerator.
Investing in appliances rated as Energy Star efficient can cut your costs in half.
3. Check Your Car
Gas prices are usually volatile, but this year has been ridiculous. This hit consumers’ wallets more than anything else.
You don’t have to go buy an electric vehicle to save money. You can take what you have and make it more fuel efficient.
Check the tires. If they’re worn down or have uneven wear, take your car to a repair shop. Get the alignment checked and tires rotated. You may need to replace your tires if they’re fully worn.
Make sure the oil and fluids in the car are fresh and full. Change the air filters so your car doesn’t have to work that hard to run.
4. Install Solar Panels
You might think that solar panels are a huge, costly project. That was true 10-15 years ago.
Between grants, tax incentives, and the cost of solar panels, it’s never been more affordable to do. Plus, you add value to your home while saving money on energy costs.
There are some incentives that let you install solar without paying anything upfront, like this zero commitment report.
5. Replace Old Insulation
The insulation in your attic breaks down over time. If it ever got damp, it’s even less useful.
Depending on how long you had the insulation, you can just add a layer on top of what’s already there. If it’s older or has been damaged, you’ll want to replace it.
Easy Home Investments to Lower the Monthly Bills
It’s smart to spend money to save money. These projects don’t cost a lot of money. They can help you save on the monthly bills when the average monthly gas bill and average household spending are increasing.
Do you want more tips to save money? Check out the Finance section of this site.