When you own a home, it’s easy for household expenses to spiral out of control. Every year, the average homeowner is in the unenviable position of spending thousands of dollars on owning and maintaining a home- and that’s just when everything is going well! If an emergency hits, many homeowners have to make sacrifices they can ill afford just to keep the home up and running. The best strategy to avoid disaster is to work on cutting down the everyday household expenses associated with owning a home.

So where does the money really go? On average, American homeowners spend about 34 percent of their income on home expenses. Paying for the house itself, of course, is the largest chunk of that expenditure, but does it surprise you to know that utilities make up the next largest amount? Most Americans spend about seven percent of their income on utilities; that’s more than what they spend on entertainment, clothing for the family and even health care! Obviously, that’s an area where it makes sense to find ways to scale back. If you live in Texas, it’s even more important than it is for people in other states as Texas electricity rates are 30 percent higher than rates elsewhere.

To save money on electricity, you need to understand it. Electric companies measure energy usage in kWh, which is a measurement of the hours you spend using 1000 watts. By lowering your kWh, you will, of course, lower your electricity cost, but where do all those kilowatt-hours go? Appliances can be huge energy hogs but so can game systems, televisions and computers. Older homes are often ill-equipped to handle the energy demands of a modern lifestyle, and this can be not only costly but dangerous, as faulty electrical systems can lead to house fires. Modernizing your home can save on more than just household expenses- it might also save your life.

Fortunately, there are some easy ways to save on energy (and its associated costs). If your home is more than 20 years old, get your electrical system checked out by a professional to determine if you need any upgrades. Buy ENERGY STAR compliant appliances whenever possible, and turn off anything you’re not using, from lights and appliances to your Xbox 360.

Are you still using incandescent light bulbs? Your electrician would recommend a different course. Efficient lighting technology has blown up in the last few years, and advanced technologies are just getting better. Light emitting diodes, or LEDs, are at the forefront of modern lighting thanks to their inexpensive and long-lasting luminescence. Some of these new diodes are leading the pack in must-have lighting features, including smart home integration that you can control with your phone. Read on to learn more about the latest in LED technology.

Upfront Costs are Dropping

One of the biggest complaints about early LEDs was the price. Almost any LED will save you money over time compared to an incandescent bulb, since they use 25 to 80 percent less electricity and can last up to 25 times as long, but many consumers balked at paying the $35 or higher retail price for a single bulb. Newer models, however, can recreate the look of that classic 60 watt incandescent bulb with fewer LED panels, meaning they are cheaper to produce and sell for $10 or less.

Options are Expanding

Other common complaints about the first LED models were that the warmth of the light wasn't quite right and they didn't work with accessories like dimmers. With today's technologies, however, you can find LEDs that give off almost any color and lighting profile, allowing you to mimic the look and feel of your old incandescent bulbs or tailor your room to fit more eclectic tastes. Not every LED is compatible with standard dimmers yet, but many are – just check the label on the box to make sure.

Make it a Smart Bulb

Many new LED models are designed specifically to work with smart technology. That means you can control them from your phone no matter where you are, set up a schedule for them to turn on and off, and even have different colors or light intensities at different times. Newer bulbs are also optimized to work with your other smart home systems to move you closer to a goal of integrated whole-house control.

Turnkey Functionality

One of the biggest advantages of upgrading to LEDs is how easy it is. There's no need to hire an electrician to set up new wiring or fixtures – the bulbs screw right into the pre-existing bases, out of the box. If you want tips on how to make the most of your new lighting options and create the room profile that fits your home, however, don't hesitate to call up your local electrician for guidance and advice.