100 Ways to Improve 1% – Part 4
This post will be another part of my series “100 Ways to Improve 1%”.
If you are on the FIRE journey, then chances are you have already modified the “big-ticket” items when it comes to your expenses, this is looking at exploring some more fine-tuning touches you can make to your everyday life.
This list has been derived from the people at ChooseFI
Below are the links to the other sections that are part of this series:
Part 1 – Exercise and Personal Growth
Part 2 – Debt
Part 3 – Emergency Fund Savings
Part 4 – Home Expenses
Part 5 – Transportation Expenses
Part 6 – Groceries and Dining Out
Part 7 – Shopping and Services
Part 8 – Internet, Phone and Entertainment
Part 9 – Travel and Sightseeing
Part 10 – Earning Extra Money
Part 11 – Investing and Retirement Planning
Part 12 – Job and Career
Part 4 – Home Expenses
19) Fix Things Yourself
I think a lot of people would be surprised at actually how easy things around the house can be fixed and how you do not really need to hire a tradesperson to come around and do it for you. You can save a fair bit of money if you are willing to fix something yourself, there is instructional videos for just about everything available on YouTube. I would recommend against working on anything Electrical unless you are trained, however.
20) Improve your Insulation
Loss of heat/cool through lack of insulation is one of the main causes of increased electricity consumption in a home. Improving your insulation may be a significant up front expense but in the long term you will definitely end up financially better off.
21) Replace Light Bulbs with LED Lights
LED lights have several advantages, namely they use significantly less energy (up to 80% less than halogen lights), they have a longer life, and they reduce heat generated during use. Particularly with downlights, due to the lower heat levels produced, insulation can be installed closer and more effective around the lights – further reducing energy costs.
22) Adjust Your Climate Control by a couple of degrees
By keeping your climate control a couple of degrees cooler in the winter and a couple of degrees warmer in the summer you can significantly reduce your energy consumption.
23) Lower the Temperature on Your Water Heater
Some people might not know this but you can actually adjust the temperature of your hot water that comes out of your tap. Given just about all the time you rarely only use the hot tap (normally use some cold to cool it down a touch), you may as well reduce the temperature of your hot water and reduce the amount of energy required to heat it up.
24) Plant Shade Trees
Well placed trees in your front and backyard can also do wonders for maintaining temperature within the house. Not only can they be nice to look at, but they can also keep the temperature significantly cooler in the summer.
25) Upgrade Appliances
A lot of our every day appliances can be high consumers of both energy and water. Replacing them with more efficient models can significantly reduce our long-term costs. Refrigerators, Dishwashers, Washing Machines, Toilets, Televisions are the main culprits.
26) Draught Proofing
Particularly in older homes, a lot of air leakage occurs, which can cause loss of hot air during winter and a loss of cold air during summer. This causes more reliance on heating and cooling to create comfort inside the home.
27) Upgrade Windows
Windows are usually the weakest link in a home’s thermal envelope. Upgrading windows is often quite affordable and very effective in creating a more efficient home. Adjustable awnings, curtains, shutters play a vital role in controlling energy flow through windows. Double glazing can be very helpful (however it is not the complete solution) and also has the benefit of significant noise reduction.
28) Increase Efficiency with Heating and Cooling
Further on from adjusting the climate control by a few degrees, there are several other ways to be more efficient to adjust the temperature within the home. Fans can be used at a much lower energy use when the temperature only needs to be cooled slightly and airflow needs to be increased. When heating/cooling rooms, keep doors closed and only heat/coo the rooms you are occupying. Adjust your clothing before you automatically adjust the climate control.
29) Declutter and Donate Room by Room
Decluttering can benefit you in multiple ways. First, it makes you enjoy being in your home more. Second, it helps you know what you really own so that you’re not buying duplicates of clothing items or home supplies that you already have. And, third, it gives you a chance to donate things that you no longer need to worthy causes.
Part 3 – Emergency Fund Savings