How to Save Money During Winter: 5 Easy Tips For Everyone!

October 24, 2022
Yahne Jackson
PFCU Financial Educator
Philadelphia Federal Credit Union
[email protected]
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For Philadelphians, not only does winter mean cold weather, it also means rising energy bills. 

Recent Consumer Price Index data shows that energy prices have risen 41.6% in the past year, the largest 12-month increase since 1980.

To help combat rising energy costs and keep your home warm and safe this winter, follow these five tips before temperatures drop.  

Check Your Heating System

The easiest way to cut down utility costs is by simply lowering your thermostat. The Department of Energy states you can save up to 10% a year on heating and cooling just by turning your thermostat back 7-10 degrees from its normal setting for 8 hours a day. A smart thermostat can help you meet this goal — with a smart thermostat, you can program it to lower your home's temperature while you are out of the house, right from your phone. Setting your smart thermostat to around 68°F while your family is at work or school will easily get you to meet or even exceed the threshold needed to see costs reduced considerably.

Let the Sun In, Keep the Cold Out

Blinds, shutters and curtains don't just keep the light out, they can help keep heat in too. Keep your window treatments up during the day, allowing as much sun as possible into your home. This will help warm things up enough so you don't have to crank up the heat.  

Seal and Insulate Windows and Doors

A significant amount of your home's energy can escape from your windows or doors, particularly if you live in an older property in Philadelphia. A tiny window crack or door gap will make your energy bills more expensive. If a candle flickers when you light it, you've likely got a draft. Be sure to weather strip and caulk around your window frames and doors. Also, be sure to check where pipes enter your home and fill those gaps with expanding foam insulation.  

Let There Be (Energy Efficient) Light

While the sun during the day can help heat your home, the unfortunate part of winter is it's not around as much, meaning you're turning the lights on more often. A way you can save here is by upgrading all of your lightbulbs to LED. According to the Department of Energy, LED bulbs use up to 90% less energy than traditional incandescent bulbs, and last up to 25 times longer. So, by upgrading to LED, you not only save on your energy bill, but you also don't have to purchase new bulbs as often.  

Check Out Additional Resources

There are a number of organizations that offer programs for Philadelphians under a certain income threshold to help make energy costs more affordable. The Energy Coordinating Agency (ECA) coordinates low-income energy services, and administers high-quality energy conservation, education, heating, and home repair services to reduce households' energy costs and stabilize families in their communities. The ECA has 15 Neighborhood Energy Centers across the Philadelphia region that operate as a one-stop-shop for low-income energy services, including weatherization, heating system repair and replacement, home repair, bill repayment assistance, budget counseling, and home energy education. You can go to ECA's website to learn more or check to see if you're eligible for their services. 

The U.S Department of Energy also offers a Weatherization Assistance Program (WAP). The WAP reduces energy costs for low-income households by increasing the energy efficiency of their homes. Through these weatherization upgrades and improvements, these households save an average of $372 a year on energy costs. Check out WAP's website to see if you can apply.  

You can also reach out to your energy utility provider, which in many cases will provide a variety of services and products at a discount, or even for free. Some providers will help set up an energy assessment or audit to give homeowners a roadmap for reducing energy usage to save money. Below is the contact information for a few popular Philadelphia area energy providers: 

While we can't help you avoid the cold, by taking these steps to winterize your budget, we hope you and your family are able to see some savings this winter.  

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