you’re able to easily find the annual cost estimates of your appliances.
But those numbers are based on averages, not your actual usage.
Heres how to calculate a better figure for how much your appliances are running you.
Youve probably seen those those big yellow labels that tell you how much energy an appliance uses.
Financial journalist Liz Weston explains that these arent completely accurate, because theyre based on national averages.
Your cost might vary quite a bit depending on where you live and how much energy you use.
You could always invest in a usage monitor to get a better idea of your cost.
But if you dont feel like spending the money, heres a formula that might be more helpful.
First, you oughta estimate the appliances daily run time.
If you run your washer for seven hours a week, for example, thats one hour a day.
Weston explains that refrigerators run about eight hours a day.
You also need to know the appliances wattage, which can usually be found on the appliance itself.
If not, a quick Internet search should yield some results.
One last thing: youll need to know how much you pay for energy.
How many cents do you pay per kilowatt?
That info can be found on your electric bill.
I used Westons formula to calculate the energy cost of my TV.
If you want to know where to focus your energy savings, this formula could come in handy.
It can also tell you how much you could potentially save by upgrading appliances.
For more detail, check out the full post.
Figure how much a new appliance will save| Bankrate
Photo byKevin Hale.
