3 Easy Ways To Plug Money Leaks At Home And Save Money!

Is your home becoming a drain on your finances? We have some tips on how you can put a stop to unnecessary cash outflows for your home just by saving more money on utility bills and home repairs!
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If your wallet is feeling a little TOO light from paying for home-related expenses, go ahead and take a closer look at the common offenders: utility bills and repairs!

Electricity or energy bills tend to account for one of the highest monthly expenses (excluding rentals and loan instalments) in most Malaysian households.

And paying for these along with other utilities such as water bills (especially if there are invisible leaks) and home repairs can really burn into one’s finances.

Here are some tips you can put a stop to unnecessary cash outflows (time to save money!) for your home:

 

1) Inspect And Fix Air Conditioner Issues

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As the heatwave hits the country at full-force, air conditioners are expected to be on full-blast for most of the day.

And while it cools the air in the home, the cost of running air conditioners at maximum powerrrr for many hours, will lead to very high electricity bills.

To keep these costs down, it’s imperative to seal and insulate areas in the home where cool air escapes and warm air enters.

For instance, check for loose window openings, faulty drainage, and improperly sealed pipes.

Do also ensure that you clean your air conditioner filters regularly and service the unit at least once a year or more for heavier usage.

 

2) Replace Outdated Appliances

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There’s nothing wrong with using older appliances when they are functioning well and are energy efficient.

However, if your large appliance e.g. refrigerator or washing machine is running up your electricity bill, requires costly repairs, and is generally not efficient at its job –it may be costing you more money than you realise.

Thus, do consider replacing them if you can afford it.

Look for 5-star energy saving appliances certified by the Energy Commission of Malaysia when shopping for new air conditioners, TVs, refrigerators, and fans. How much can you save?

Well, according to the Building Sector Energy Efficiency Project (BSEEP), you can save an estimated RM1,415.98 annually by switching to energy-saving appliances!

 

3) Fix Water Leaks

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Tiny water leaks around the home may not even be noticeable but can result in incredibly costly and potentially dangerous property damage.

Long-term damage could result in health issues if mildew, mould or other fungi-growth start to form. Water leaks also predictably lead to higher water bills.

Leaks can come from unsecured pipes, improperly water-proofed bathrooms, worn ceiling tanks, roofs damaged by storms, poor maintenance or installation, and even leaky appliances.

Some leaks are more obvious and commonly observed than others. Damp odours, dripping water, yellowing and other discolouration on walls or ceilings are easily visible.

But there are other types of leaks that are less pronounced. For instance, you may not notice or know that water damage can cause hardwood floors to expand, buckle or sag inwards.

If you have concerns about leaking, be proactive and call a handyman or plumber to inspect the property for potential water leaks early on.

This could save you from a gigantic repair bill in the future.

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This post was contributed by Qanvast

Qanvast is the go-to renovation platform for homeowners to meet a right interior firm for their home makeover. Submit a simple form to start meeting interior designers, discuss your home design and compare quotes.

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