Let’s save some money so we can splurge on that pair of shoes we totally don’t need.
Welcome back to the Financial Rundown. I’m not qualified to give any financial advice, but one of you will probably learn something new from this.
Look at your budget, what are your highest spendings each month? Other than rent and internet, utilities are probably killing your bank balance. And while you can cut yourself off at a certain point with groceries and going out and new clothes, you can’t really cut yourself off with utilities— you can’t really go without electricity for a month. It’s an expense you’re stuck with, and therefore, an even more important bill to cut down.
I don’t know if Montreal’s pricing is ridiculously high, or if I’m just super wasteful, but there were times where my utilities bill was questionably high and had to be something I learned to deal with. And today, I will share that wisdom with you. (Sorry first year student who live in rez, I know this one doesn’t really help you but hey, you win some, you lose some.)
1. Control Your Temperature!
Montreal’s getting chilly. I mean, seriously, I nearly got blown over by the wind on Monday. With the temperature dropping, that also means it’s time for the heaters to turn on. So while it’s easy to make your room super warm and toasty, you can survive with a just warm enough temperature. I’m being super vague on purpose, everyone has their own preferred temperatures–and mine, unfortunately, is depressingly high. But heating is one of the most expensive parts of the utilities bill and even two degrees can make a huge difference. I am sure this is why McLennan is so darn cold. So instead of having your room at the perfect temperature, throw on a sweater, a pair of fuzzy socks, make some tea, etc. etc. Remember, you also don’t have to have your place at the same temperature all the time. I bring the temperature down a bit at night for comfort, then adjust it back to something more manageable during the day. Also, if no one is going to be home all day, turn the heater off. You can turn it back on when you get back. This would also be a good time to open your windows to prevent your room from getting stuffy. Leave a note by the door if you think you’re going to forget.
2. Unplug, unplug, unplug!
This is potentially a big one, but it’s always hard to remember. This is something that’ll be difficult to get into, but it’ll probably the easiest thing to adjust if you make a point of doing it. Unplugging little things such as toasters, coffee makers, blenders etc. when they’re not in use can save you quite a bit of money. And this also applies to larger appliances like the oven and microwave. Of course, it can be impractical to pull those out and unplug them, so I’d only recommend this if you really need the savings. Moving out of the kitchen, you know how you always leave your phone charger next to your bed plugged in? Yeah, unplug it. If it’s not charging anything, all it’s doing is draining energy from your home. My recommendation is to get a power strip so you can unplug several chargers at once. Also, make sure to unplug your charger when your phone’s finished charging. Leaving your phone on the charger when it doesn’t need to charge will shorten its battery life in addition to making your wallet lighter.
3. Air-dry your clothes!
One of the biggest lessons I learned since moving out of the house (and across the country – sorry Mom!) is that laundry is expensive. And because I’m not lucky enough to live in a place with a washer and dryer already in there, I have to dish out $2 every time I want to dry a load. Since I wasn’t raised by wolves, I separate my laundry and therefore, have to dish out double or triple that every week. That’s extra money that can go into your coffee fund, or your shopping fund, or, since we’re being responsible here – your savings account. Spend $10 to buy a clothing rack and save some money as well as the environment – less heat for the dryer, less heat into our air.
So there you go, I hope your wallets feel heavier, if even for a little bit since the holidays are coming up soon. One last tip – use the initial money you saved with these tips to buy some more cute sweaters for your wardrobe, and make it a positive cycle of saving more and more money.
Images from World Build 365, Compact Appliance, Apartment Therapy.