#74 Washing Money Down The Drain

If you haven't seen my video on "How Much It Costs To Flush The Toilet". Check it out in the below.

 

Today is our first full official day into our new house. 

As homeowners, there are a lot of little things we wouldn't normally worry about with our condo. But the one I'm going to talk about today is one that you have some control over.

When we were living in our condo, water was not metered so we paid a flat fee in our property tax.

But that's all changing now that we are in a house. Water is tracked down to the gallon and you pay for what you use.

This means the garden sprinkler is going to cost me, every toilet flush is going to cost me, every cup of water, tea, coffee, every time we run the dishwasher and laundry machine, and of course washing our hands, showers, and baths.

There are so many places where money can easily be washed down the drain. How can we control the waste of water and our savings?

Do You Know How Much Your 30 Minute Shower Costs?

Every gallon of water cost about 1.6 cents in Toronto. That's small right. You'd be surprised how something so small can add up.

The average shower releases 2.1 gallons of water per minute. A 30-minute shower uses 63 gallons of water or $1.04.

If you shower every day for 30 minutes it will cost $380 a year.

The average Canadian uses 87 gallons of water a day, that's $1.43 per day or $523 per year.

Money/Water Saving Tips

Here are some ways you can save water and cut your water bill down.

1. It's 5% cheaper to pay on time in Toronto and likely the similar where you live too.

2. The average 8-minute shower can use more water than a bathtub. Cut down your shower time, or turn off the shower when you are soaping up.

3. Stop dripping taps. A tap that drips 6 drops a minute will lose over 300 gallons of water a year. About 5 bucks. But that's a lot of water wasted for nothing.

4. The average person flushes the toilet 5 times a day costing almost $50 a year. Might not be worth saving a flush though. ~~

5. A dishwasher uses 85% less water than washing dishes by hand. If you have one, use it, otherwise, you're probably not financially better off by buying one unless you wash a lot of dishes.

6. Set your sprinkler to water your lawn in the middle of the night when you lose the least amount of water to evaporation. You can cut the time down by half. It's a rainy autumn now, so I've shut the sprinklers for the winter.

7. Using front load clothes washing machine uses half the water of a top load. 20 gallons vs 40 gallons, or a savings of $17 or $34 a year if you do 1 or 2 loads a week. The Bonus Tip here is to use cold water to wash your clothes, it preserves the colours for longer and saves a ton on your heating bill. 

8. Turn the tap off when you are soaping up your hands and brushing your teeth. Running the tap just to hear the sound of water is a good way to waste water.

 

Save Money Retire Early is written by Jon Lo, a barely 30 something, change optimist, and personal finance guy. I believe anyone can be rich or poor, it's what you save that makes the difference.

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