Inflation is inevitable, and it’s a hot topic right now across the globe. The US is possibly heading into a recession with an inflation rate hike hitting 75 basis points, and the world is in economic gloom due to supply chain issues and the lurking war between Ukraine and Russia is also affecting the entire world.
Thus, to better survive the looming inflationary pressures that we may be facing in the near future, many professionals recommend reassessing the budgets set aside for everyday spending and taking a more serious look at spending habits to help better allocate funds. On top of this, there are also recommendations to ‘trade down’ – which means to purchase cheaper products of lower quality. However, while this suggestion may help save money in the short-run, purchasing lower-quality products may actually add more costs in the long run. This is because lower-quality products may not be able to provide you with the same level of durability and reliability a higher-quality product at a higher price point may be able to. If the lower-quality product were to break down easier or if it requires much more frequent maintenance and upkeep, these costs would add up and snowball.
While it’s recommended to cut back on your ‘wants’, your ‘needs’ should not be heavily compromised as it may result in greater losses in the long run. There are certain things you should not compromise on.
To better deal with the inflationary situation underway, it is important to better understand the best practices to help stretch your budgets. One great way to help you save during inflationary periods would be to cut down on your water bills. Here’s how you can do it.
Fix Water Leaks in Your Home
More than the additional cost in your water bill, ignoring the signs of water leaks in your home can result in significant property damage. If the water leaks are serious, the water can soak into and damage ceilings, walls and floors, weakening your home’s overall infrastructure. In addition to that, your property’s electrical wirings might also be compromised. In general, a leaky faucet should not be ignored as it may rack up significant costs to rectify.
If you are a handyman, fixing minor leaks should be a quick and easy task. However, it would still be recommended to consult and seek expert help with these issues as there may be underlying problems that need to be fixed. While this may cost a fair bit, nipping the problem in the bud is definitely the best course of action to consider to save money in the long run.
A good habit to practice is to do routine checks to ensure that your water points are not compromised and to help you spot any potential leaks or weakened points. Prevention is often the best cure.
Before the introduction of low-flush toilets, we needed at least 12.2 litres of water per flush. But with the water shortage issue that became prominent in the 1990s, improvements and advancements were made to toilets so as to increase their efficiency. With the many innovative changes introduced, most toilets now only use 4.8 litres to 6 litres per flush – which is undoubtedly a huge difference compared to its predecessors.
If you are still using an older toilet model, it may be a worthwhile decision to replace them with a newer and more water-saving model. This could be a great investment and a potential area for you to save more in the long run.
With any household appliance, such as toilets, washing machines and water heaters, it would also be suggested to opt for models that offer better energy efficiency and savings so as to maximise the amount that you can save in the long run.
A common mistake made when washing your clothes is washing them on a half load. When you wash your clothes on a half load instead of a full load, the washing capacity is not optimised. Washing on a full load can save you approximately 15,000 litres of water per year. As for the energy cost, a single load can save you 50% of the energy consumed compared to running two smaller loads. When you optimise your washer’s capacity and do your washing with a full load, you can save your effort, energy and money while also being more environmentally friendly.
So, instead of wasting electricity, water and money, consider adopting a laundry schedule to consolidate all your items for a full load of washing.
To better understand what a full load for your washing machine is, it would be recommended to refer to your manual or find out the specifications of your washing machine. By understanding the capacity that your washing machine is capable of handling, it would help you better estimate the amount of laundry that is able to run a full load cycle and also help to reduce overloading your washing machine.
Opt for Smart Leak Sensor and Smart Switches
In today’s society where smart technology plays a significant role in many of our lives, investing in a smart home system to notify you about any leaks may be a good appliance to consider. In addition to this, there are also smart switches available in the market as well.
Smart leak sensors are an efficient way to monitor potential leaky points in your home, such as the washing machine area, bathroom areas and other areas where there are sinks or water points. When the sensor detects a leak, you will receive a notification on your smartphone so you can address the problem as soon as possible.
Smart switches also provide their own benefits as you can turn off your equipment and appliances, including your water heater, anytime and wherever you are. These smart switches are also able to set schedules to automatically turn off at a certain time, bringing you more convenience. One common example of a smart switch is ‘Smart Light Switches’, where you can connect to your home’s wireless network system and flip the switch on or off through a mobile application or through voice assistants such as Alexa or Google Home.
With the constant improvements in technology, there are also WiFi washing machines, WiFi air conditioners and WiFi water heaters that have been introduced in the market. The new WiFi capabilities that are equipped in these appliances allow you to remotely control your household appliance and set an automatic schedule for your appliance to optimise its performance.
These smart technologies may require a larger down payment and investment, however, in the long run, they can help better manage your electricity and water usage and can help to reduce your monthly bills. There are also constant improvements and innovations that have the potential to drive down costs in the near future, allowing for more affordable and better technologies for you to choose from.
Key findings from PUB have shown that the areas in the house which have the highest water consumption are: the shower, the toilet and the kitchen area.
(1) investing in a water-saving shower head and/or (2) investing in a durable, reliable and high-quality water heater.
A low-flow shower head can decrease water consumption by approximately 40%. However, this may affect your overall shower experience. Thus, another option you can consider to reduce your monthly water bills is to find a good and energy-efficient water heater for your household. A good, reliable and high-quality water heater is able to save you significant costs in the long run as they would be longer lasting and more efficient.
If you’re looking for a high-quality, durable and reliable water heater, why not consider Rheem? Rheem has been at the forefront of the water heating industry for nearly 100 years, providing innovative water heating solutions globally to cater to unique water heating needs.
Rheem Water Heaters have various models to choose from, suited to cater to all your unique and specific needs. All of our water heaters are equipped with advanced features, providing you with the best shower experience. Do you have a lack of space in your bathroom for storage water heaters? Consider our Xwell Classic Plus Storage Water Heater series!
Prefer instantaneous hot water and an appliance with tons of features? Consider our Rheem Prestige Instant Water Heater series. Like an aesthetically pleasing-looking water heater to suit your home aesthetic? The Rheem Prestige Platinum Black Instant Water Heater is the one for you!
Rheem water heaters offer a faster and more efficient heating time, reducing the number of heating cycles required for your hot showers or bath, thus helping you to save water and energy. Additionally, Rheem’s water heaters are also equipped with a durable and powerful Incoloy heating element, which protects the equipment from rust and corrosion. Looking for value for money? It’s all here at Rheem.
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