Prepping 101: How to financially prepare for rising energy prices

Consumers across the country have experienced a rise in energy prices since 2021. Gasoline prices have increased, which then resulted in higher prices across the board. You may have already felt the effect of these changes in the grocery store.

Gasoline prices have also affected electric or gas bills. You should start preparing because these prices may continue to rise.

If you’re worried about how you’re going to afford your bills, consider making some major and minor changes like switching to public transport and using solar energy.

Here are more tips on how you and your family can prepare for rising energy prices.

Downsize your home

Downsizing your home may be one of the hardest options on the list, but it’s one of the most effective.

Talk things over with your family because this requires an enormous change. If everyone pitches in, you can make this work in your favor.

Living in a smaller home means less space that you will need to heat. A smaller house will also mean a lower electric bill.

Update your appliances

Many modern appliances use considerably less energy than older ones.

If you have the money to do so, replace older appliances with more energy-efficient modern appliances. While the initial investment is rather large, it will pay off in the long run.

Get a wood-burning stove

Central heating and air may be adding a significant amount to your electricity bill.

To save money on your homestead, consider stocking up on wood and using a wood-burning stove to generate heat at home. The stove will generate plenty of heat, even during winter.

A wood-burning stove will help cut back on your heating bill and it can also help you stay fit if you cut the firewood yourself.

Consider turning down the heat

Winter is right around the corner and most houses will be tempted to turn up the heat to stay warm and toasty.

But if you want to keep the bills down, consider leaving the heat down and putting on more layers or staying warm with added blankets. This is one easy way to save on the heating bill.

Here are more tips that can help you save energy during winter:

  • Open curtains on south-facing windows during the day to allow sunlight to naturally heat the home. Close them at night to reduce the chill from cold windows.
  • Plant deciduous trees on the south-facing side of the home, especially near windows. They will let the light and warmth in the windows during the winter while also offering shade in the summer.
  • Use a heavy-duty, clear plastic sheet on a frame or tape clear plastic film to the inside of window frames during winter.
  • Keep the temperature of the water heater to a warm setting, like 120 F. This helps save energy and prevents scalding.

Get a tankless water heater

Tankless water heaters can help eliminate the need for bulky water tanks. Additionally, tankless water heaters use less energy than traditional water heater tanks.

Install solar panels

Like updating your older appliances, installing solar panels on your property also requires a major investment up front. But it’s worth considering if you want to save on your monthly bills, especially if you live in a sunny region.

If you want to learn more, check out programs that are designed to help people get started on solar energy. (Related: Financial preparedness: How to save money on your off-grid homestead.)

Combine trips to several locations

If you drive to work and go on many errands, make the most of your gas by combining trips.

Before you leave the house, plan your trips to save time and gas instead of going out several times. It may be exhausting to drive to more than two different places in the same trip, but think of how much gas you can save compared to driving back and forth several times in one week.

Find the cheapest gas

If you have a smartphone, download an app that will help you easily find the cheapest gas in your area.

Just make sure you don’t go out of your way for cheap gas since you may end up spending all your savings just to get to the gas station. Some apps also offer discounts on gas.

Join a gas loyalty program

Some companies offer gas loyalty programs that will help you save some money at the pump. For example, BP and Shell both offer $0.05 off per gallon of gasoline bought.

Meanwhile, ExxonMobil offers $0.03 off per gallon. Sometimes, some grocery stores offer cents off of their gasoline as well.

Sign up for a gas rewards credit card

Check which gas rewards credit card works best for you.

Some credit cards may offer as much as five percent cash back on gas purchases from participating gas stations. While this doesn’t save any money upfront, you can see refunds come back into your account.

Use public transportation

If you live in an area that provides public transportation, commute to work instead of driving every day.

While it still costs money to use public transport, it will be much less than the amount you have to spend on gas every day on your commute. Using public transport can also help you avoid the stress that often comes with driving, especially if you are often stuck in traffic jams.

You can also opt to carpool to and from work with friends and coworkers that live nearby.

Combine trips and update the appliances on your homestead to prepare for rising energy prices.

Watch the video below to know more about the many benefits of installing solar panels.

source : Zoey Sky

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