Improving your financial situation can be as straightforward as cutting down on your utility bills. By consuming less energy, your monthly expenses drop, leaving you with more disposable income at the end of each month.
When you consider these savings over the course of a year, they can really build up. Research indicates that by adopting energy-efficient practices, households can slash their utility bills by as much as 25%. This reduction in monthly costs not only alleviates financial pressure but also allows you to potentially invest the money you’ve saved.
Here are six practical tips for lowering utility bills in Singapore.
Switch Off Standby Power
Did you know that unplugging devices such as TVs, microwaves, and set-top boxes when not in use can significantly cut down your electricity costs? Standby power, often referred to as "vampire power," may surprisingly make up around 10% of your electricity usage. People often forget about things like water heaters that remain on standby, quietly contributing to the monthly bill. A quick daily check to ensure everything is switched off when not in use can really pay off in the long run.
