430: The Secret Way to Save 50% on Your Electricity Bill (EVERY Month!)

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 14 July 2023

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Want to cut your electric bill in HALF? A few secret yet simple hacks can save you hundreds, if not THOUSANDS, on your utility bills. And with energy prices almost double where they were just a few years back, everyone is antsy about turning on their air conditioners, even if you feel like you’re about to melt. Thankfully, we’ve got Larry and Hope Ware, also known as “Under the Median,” to show us EXACTLY how they lowered their electric bill by making some simple money moves. Larry and Hope have been long-time frugalists. A few years into dating, they realized they were flat broke and had to make a tough choice: put their future family first or keep spending without second thoughts. They chose the frugal path to financial independence and, as a result, raised four children on a $40,000/year salary, becoming completely debt-freein the process. Larry and Hope know how to run a budget, and saving money is their sport of choice. In this episode, Larry and Hope will unpack one of their most astonishing financial accomplishments of late; cutting their electricity bill in half. Through some utility-bill digging and kilowatt-testing, Larry and Hope have built a list of tips that could help you lower your utility bills to levels you may have never seen before. Want in on this money-saving cheat code? Tune in! In This Episode We Cover How to cut your electricity bill in half, EVEN if you live in a sweltering climate Building your “Bare Bones Budget” and prioritizing where money is best spent The “big green pile of cash” trap that you CAN’T fall into The BIGGEST mistake most people make when budgeting “Vampire energy” and how unused appliances could be stealing your cash And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Kyle’s Website Clarity Financial Kyle’s Twitter Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Check Out Mindy’s 2022 Live Spending Tracker and Budget The Stupid-Simple Budgeting Trick I’m Using to Stop Blowing 5 Figures a Month The Cheapest Way to Lower Your AC Bill This Summer We Cut Our Electric Bill in Half in About 6 Weeks Click here to check the full show notes: https://www.biggerpockets.com/blog/money-430 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Bigger Pog as Money Podcast where we interview Larry and Hope from under the median and talk about saving money on your utility bills.
0:08.5	Hello, hello, hello. My name is Mindy Jensen and joining me today is my kind of bad at retirement co-host Kyle Mast.
0:16.1	What does that mean? What does kind of bad at retirement mean?
0:19.3	Aren't you retired, Kyle, and yet here you are working? The internet retirement police are coming for you.
0:24.2	Is this work? I don't know.
0:27.5	I can't sit around on a couch. No, I keep plenty busy, but yes, yeah. Airbnb is not quite as retirement focused as people might think.
0:37.0	So I've been busy lately with we had a big party in one of our houses that has been become an issue.
0:42.6	So it's sucked a bit of my time and pulled me out of retirement temporarily.
0:46.2	Did you host the party or did somebody else host the party without your permission?
0:50.8	Oh my goodness. I did not host the party. I am not a party. I go to bed at eight o'clock.
0:56.8	No, someone lied to us on the booking and said it was something else and had a big smash and there was vomit and other things walked through a large house.
1:06.8	So we have had to, yeah, it's been, you know, once in a while you have a real bad one and that's just kind of part of the business.
1:14.0	So that's been my pull out of retirement thing lately.
1:17.0	Oh, well, yeah, that's, I was just teasing you about this, but that's actually really gross.
1:22.0	I'm sorry, and I hope it gets cleaned up quickly and they never come back.
1:27.0	All right, so Kyle and I are here to make financial independence less scary, less just for somebody else.
1:33.0	And you know what? This is something that you can do in your financial independence journey is have an Airbnb and not worry that it's going to ruin you because you've got money out of the way.
1:46.0	Right, Kyle? So now when you have a really, really awful thing, it doesn't devastate your financials.
1:52.0	Number one rule in investing in real estate. If you don't have reserves, don't invest in real estate. That's Mindy's number one rule.
1:59.0	All right, so Kyle and I are here to introduce you to every money story because we truly believe financial freedom is attainable for everyone no matter when or where you're starting.
2:07.0	Whether you want to retire early, travel the world, go on to make big time investments and assets like real estate or start your own business.
2:14.0	We will help you reach your financial goals and get money out of the way so you can launch yourself towards your dreams.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.