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Auditing Your Utility Bills to Save Money

2 Frugal Dudes January 21, 2020 193 1

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    Auditing Your Utility Bills to Save Money
    2 Frugal Dudes

Episode 149: Learn how to take a closer look at your utility bills to save money, especially when moving to a new home.

Moving into a new home can be a learning experience, as you might not know what to expect during your first billing cycle. Setting up an audit to set a baseline and track your expenses and consumption will help set the basis for your budget.

The Challenges with Autopayments

Here at the 2 Frugal Dudes, we talk a lot about automating payments to help with budgeting, saving, and investing. However, there are also challenges to consider with autopayments.

The main thing to consider is that if you’re automating your bill payments, you should still set aside time to audit your bills. Putting your bills at the back of your mind makes it easier for mistakes to slip by you. You should also compare your meter to the bill and document things to prevent human error.

What to Know About Budget Billing

Budget billing is when you are charged based on a consumption average. Like having automated payments, it makes it easier for mistakes to go undetected. Set aside time to check your consumption and cross-reference it with your bills.

Tips for Saving on Utility Bills

  • Checking water leaks by monitoring your meter when water isn’t in use. This could indicate a leaky flapper or pipe in the house.
  • During pool season, notify your water provider that you’re filling the pool to get a discount on your wastage fee.
  • Monitor your phantom consumption by using surge protectors and unplugging unused electronics around the house— your television, radio, etc.
  • Alter the temperature slightly. A couple of degrees either way can make a big difference in the summer and winter.

Show Links & Related Episodes


Disclaimer: Kevin and Sean are not professional financial advisors. Do not take any advice they give without first speaking with a professional and performing your own due diligence.

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