Painless Ways To Save On Household Spending
There are many ways to save money around the apartment. NY1's Money Matters reporter Tara Lynn Wagner filed the following report.
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Forget about finding change in the couch cushions. Alexa von Tobel of LearnVest.com says little changes around the apartment or house can lead to big bucks in the pocket. The financial website offers a two-week boot camp that she says can help people save $3,500 or more.
For instance, take a look in the fridge.
"It's the most expensive thing you're running when it comes to electricity and most people have it set at the wrong temperature. Your fridge should be set at around 40 degrees, your freezer should not be set anywhere lower than zero," says von Tobel. "If you open your fridge and you realize that they're not set at those temperatures, you're spending so much more money than you need to. So you can change those dials in under 10 seconds and you can save up to $400 a year."
While in the kitchen, take a look at the counters. The coffee pot may only be used once in a while, but if it's left plugged in it still burns a hole in the wallet.
"Costing you money, right now, as you sit here in my apartment. It's costing you money in your own apartment," says von Tobel.
Even when they're off, many appliances use "vampire power" or "phantom power" and von Tobel says the best way to kill that vampire is to pull the plug.
If unplugging 25 different things seems like too much work, how about flipping a switch? Keep things like the TV or phone chargers plugged into a power strip, and when the strip is turned off, the juice doesn't flow to those unused appliances.
Since the U.S. Department of Energy says vampire power typically accounts for 5 to 10 percent of household electricity use, that could shave a decent amount off the monthly bill.
"I mean, again, it all depends on what the electronics are, but we're talking hundreds of dollars a year that you can simply save just by knowing these quick tips," says von Tobel.
To enroll in the free boot camp and receive daily emails detailing additional cost-cutting measures, visit learnvest.com.