46 - Don’t Let Money Go Down the Drain: Smart Ways to Save on Water Heating

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We all love a long, hot shower, but did you know that water heating accounts for nearly 20% of your home’s total energy use? It’s the second-largest energy expense in most households, right behind heating and cooling. That means every time you turn on the tap, wash a load of laundry, or run the dishwasher, you’re paying not just for the water itself, but for the energy it takes to heat it. The good news is that you don’t have to take cold showers to save money. With a few simple adjustments—most of which cost nothing—you can significantly cut your water heating bill while maintaining comfort. From simple habit changes to smart upgrades, here’s how to keep your water hot and your bills low. 1. Lower Your Water Heater Temperature Most water heaters come from the factory set to 140°F. Not only is this temperature unnecessarily high for most household tasks, but it also poses a scalding risk. By lowering your water heater’s temperature to 120°F, you can reduce standby heat losses and save ...
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27 - Maintain a monthly budget on a spreadsheet or notebook to see where your money goes.

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I couldn't have retired at age 42 without any income sources, a limited savings, and a house to run without keeping a detailed budget of my expenses. Thankfully, I knew this right away and immediately began keeping my receipts and stapling them into spiral notebooks to keep track of costs. That led to me creating a spreadsheet with all of the receipt information, plus everything else that I spend my money on. Although I still keep receipts in spiral notebooks, the spreadsheet is what really saves me money.

Since a picture is worth a thousand words, I'll try to upload images of my spreadsheet and explain how I use it. I don't want to overwhelm you, so I'll divide this up into a couple different posts. Today is the main page of the budget. Tomorrow will be another section, and we'll finish the following day.


I share this so you can see what rows I have in my budget. The first section includes all of my utilities and cell phone (I'm on a family plan with my mom, sister, and nephew, so I pay one fourth). Sporadic costs are in the second section, like insurance, license fees, property tax, etc. Everyday purchases are in the third section, and I have two Miscellaneous rows in the fourth section. At the bottom of the spreadsheet are all of my total columns: Total money spent this month and since I retired. Total money made this month and since I retired (I removed the income section for this blog post). Total money spent from my savings this month and since I retired. And the grand total of all the money currently in each of my bank accounts (along with its change since 1/1/2023).

Tomorrow, I'll show you how I look at my budget over the years (a long-term budget). And Tuesday I will share other features about my budget that might be unique and how I use the budget to save even more money. Remember, YOU do not need to make your budget as complex as mine - I just really like knowing everything I can about the money I make and spend!

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