The #1 way to reduce your Total Cost of Ownership
The only true way to lower your total cost of ownership is to reduce utilities bills. The Principle, Interest, Taxes (PITI) and Insurance that make up you mortgage is effectively fixed and, in most cases, will increase due to taxes and/or insurance hikes. So, aside from refinancing to lower your monthly payment, utility bills are the easiest place to save money.
Here are the best 3 ways to reduce ownership costs.
1. Consumer Awareness. The most effective way to reduce total cost of ownership is to be aware of your personal energy consumption. People care about what they are aware of and you can observe your personal or family habits informally. A few tweaks to lifestyle will go along way. Set back the thermostat when away, turn off lights, turn off unused parts of entertainment center, and open/shut windows when the season allows.
2. Smart Home Technology. Creating new habits is challenging and is not often considered fun. But you know what is fun? Buying new toys! If the goal is to reduce use without changing lifestyle, the next best option is to buy some Smart Home toys. There is a smart home tech toy and/or app for just about everything that goes in a home. These devices reduce consumption automatically and can be easily managed through any smart phone. Fun options are tying together Amazon’s Alexa with the lighting or sprinklers for your home. From there it only takes a voice command to start watering the grass, turn off the lights, or set the mood. These technologies will reduce the consumption of the homeowner without any change to habits.
3. Gamification. As Mary Poppins would say, “In every job that must be done, there lies an element of fun.” Tech companies are finding creative ways to make energy savings into a game. The Nest
Thermostat offers gamification between households, as well as against previous personal use. Also, some utility companies are now comparing the use between neighbors…and letting the winners and losers know where they stand. Find a way to make a game of it and America will aim to win.
Humans are an interesting species and either require a massive amount of hand-holding or products that do everything for them. The best solutions are a mixture of awareness, action, and smart tech but don’t let any of these scare you away from just starting. Choosing even one of these options will help to drive a win-win result. Just go for it.James Mitchell Energy Efficiency, Green Education