Let’s face it; there are a lot of people out there who are currently unemployed. If you happen to be one of these, I’m sure the idea of investing money at this time is the last thing on your mind. Probably even the idea of having any kind of savings is just ridiculous. In this case I’m not going to tell you to devote every extra penny to an investment. Instead I wanted to share some ideas on how to minimize living expenses at home so you can live more comfortably with the money you have. My wife and I have implemented these ideas into our lifestyle and we have been seeing them work very well for more than a year now.

Save On Electricity

1) One of the most effective ways of lowering your power bill is by simply turning down the temperature on the hot water heater in your home. When my wife and I moved into our apartment, the temperature was set to 130ºF. It was pretty hot! If you stick your hand under hot water from the faucet and it starts burning your FLESH, you will definitely save money by turning it down. Not only will you save on power, but your hospital bills will be reduced as well! I turned our temperature down to 105ºF and the difference in our next power bill was about $30.00 less! I can’t say exactly how to adjust the temperature as it may vary depending on the modal and brand of water heater. Try doing some research online for your particular heater and be sure to read ALL the warning labels on the tank before attempting anything.

2) An obvious power saver is to turn off lights when you’re not in the room.

3) A not so obvious way to save power is by living in an apartment that’s above the ground floor. This is only effective during the cold months of the year when the residents below you have their heaters on. The heat from their apartment will rise up through the floor into yours, making it so you don’t have to use as much of your own heat. It almost sounds like cheating!

Save On Your Water Bill

4) Lots of people run the water constantly while brushing their teeth. Turn the water on only when you need it.

5) When showering, get wet then turn off the water. Get all soapy clean and turn the water back on to rinse.

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I wish you the best of luck with minimizing your expenses and I hope these ideas will help you to achieve that goal!