Are You Losing Money at Home with These Three Common Mistakes?

My hubby and I have recently begun doing what we call “Financial Meetings”. We sit down on Sunday evenings and go through the projected expenses for the week ahead, and any extra monies or projects we want to focus in on. (We also talk about the schedule for the upcoming week, but that’s kind of just reminders. Making sure we’re on the same page about our finances is the main goal.)

I think most people want to communicate well about money. Frequently, even the media and society places a focus on active ways of earning, saving, and building wealth. Clipping coupons, investing, and making money through a part-time job are the hottest topics of money discussions. Although you might use these tips to earn and save money for your family, did you ever think that YOUR HOME could be causing you to lose money?

Ready to uncover hidden cash by following a few simple tips? Then take a look at three of the most common mistakes that cause you to lose money at home:

Not turning off or unplugging lights/appliances/electronics that are not in use

Surprised hipster with bulb in studio. looking at bulb. close up portrait. isolated black background

While you may have the best intentions when it comes to turning off lights, electronics, or appliances that are not in use, it is incredibly easy to forget. However, forgetting to turn off lights and other things that consume electricity is costly. For example, if you leave just 10 light bulbs on for one extra, unneeded hour per day, you are losing between $5-$24 per year. While this may not seem like a lot of money, this yearly figure can multiply quickly when you consistently leave your lights on for many unnecessary hours. Additionally, using energy-saving features and sleep mode with your computer can save you up to $50 yearly, and controlling your air conditioning with a programmable thermostat can save up to $180 yearly.

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