Life can be expensive, especially when you consider the cost of buying food – something we do three times a day. However, if you’re committed to using reusable containers and cooking at home, you can start saving money from the get-go. Additionally, there are kitchen appliances and cooking tools that can be added to your kitchen arsenal, which not only pay for themselves quickly but also save you more money compared to other expensive options.
In a feature by CNET, several popular home appliances were reviewed, including water filters, air conditioners, rice cookers, and coffee makers. It was found that these appliances can save the average person a considerable amount of money through regular use. In some instances, the savings from using a single appliance instead of purchasing expensive alternatives like bottled water or coffee from cafes amounted to as much as $1,000 in a year.
Ready to start saving? Below, we have compiled a list of the best kitchen appliances and tools that can help you save money, including estimated costs and the amount you can save over a year.
SodaStream sparkling water maker
Making your own sparkling water with a SodaStream is more cost-effective than buying cans of seltzer.
I personally consume a lot of seltzer water, so this analysis hits close to home. Initially, I thought giving up the convenience of canned seltzer water, such as LaCroix and Polar, would be impossible. However, the idea became easier when I calculated the costs. A SodaStream, along with regular 12-pack purchases, turned out to be more financially beneficial.
After doing the math, I found that someone who drinks two cans of seltzer a day can save around $300 a year by making their own at home. As time goes on, the cost of the device is deducted, and the savings keep growing. Usually, two CO2 cartridges costing $15 each (if you use a replacement program) can last for a year of consuming 12 ounces of sparkling water daily. The annual cost for the four CO2 cartridges needed for two tons (24 ounces) of seltzer water amounts to approximately $60.
Since I consume as much as three or four cans a day, my annual savings are closer to $600. This calculation alone was enough for me to ditch the cans and opt for a SodaStream.
- Upfront cost: $100
- Savings: Up to $600 per year
Air conditioner
An air conditioner uses significantly less energy compared to a large oven.
Even regular air conditioner users know the convenience these modern kitchen appliances offer, as they encourage more home cooking and less ordering out. However, you may not have considered how countertop ovens can also help you save on your electricity bill.
A conventional toaster oven uses less energy than a large oven, heats up faster, and cooks food more quickly. Based on my calculations using New York electricity rates, a 4-quart air fryer costs $0.25 cents per hour to operate. This is 50% less energy-efficient than a conventional electric oven and about 35% more efficient than a gas oven.
- Upfront cost: $30 to $80
- Savings: Up to $114 (based on 300 hours of cooking)
Rice cooker
A rice cooker is a must-have for anyone who wants to eat on a budget.
Rice dishes are incredibly versatile and can be made budget-friendly by topping them with veggies, meat, or even a fried egg. According to former CNET editor David Priest, who experimented with a rice cooker during quarantine, making rice at home is much more cost-effective. On average, it costs around $1 to make four servings of homemade rice, which comes down to $0.25 per meal. In comparison, buying four servings of cooked rice can cost as much as $3 or $4. This means that by starting with rice and being mindful of the ingredients used, you can feed a family or group for less.
What’s more, a good rice cooker can be purchased for as little as $25. If you already have an Instant Pot, it can also double as a rice cooker.
- Upfront cost: $25
- Savings: Up to $547.50 (based on two servings of rice per day)
Meal Kit Services
Meal kit services can be affordable and convenient alternatives to dining out or grocery shopping.
Meal kits were once seen as an expensive option for special occasions, but over the past decade, the cost of food has significantly decreased. Budget-friendly services like Blue Apron offer meals for as low as $5 per serving.
While food alone may not save you a significant amount of money from your weekly food spending, it becomes more cost-effective if you replace takeout or delivery meals or reduce your shopping at expensive grocery stores. In fact, most meal kit services analyzed have prices similar to or lower than the cost of buying ingredients to make the same meals from scratch. The biggest advantage of using meal kit services is the time saved on meal planning, shopping, and food preparation.
- Upfront cost: $35 to $50 per week (three meals for two people)
- Savings: Time and energy
Instant Pot or slow cooker
A slow cooker is a convenient kitchen appliance that can turn affordable cuts of meat into delicious dishes.
Instant Pots and slow cookers have been around for years, and for good reason. These versatile appliances make it easy to cook tough and inexpensive cuts of meat into tender and flavorful dishes.
In addition to their ability to transform budget-friendly ingredients into nutritious meals, these appliances also consume less energy compared to a traditional wall oven. Based on calculations, a slow cooker only costs $0.05 per hour to operate, while a toaster oven costs $0.17 per hour, which is about a third of the cost of running a main oven.
- Upfront cost: $40 (slow cooker) or $90 (Instant Pot)
- Savings: Up to $135 for energy alone (based on 300 hours of cooking)
Water filter pitcher
Switching to a water filter pitcher and reusable water bottle can save you money and reduce plastic waste.
If you’re still buying single-use bottled water, it’s time to break that habit. Investing in a reusable water bottle and a water filter pitcher not only helps reduce plastic waste but also saves you a significant amount of money. According to calculations, someone who drinks three bottles of water a day can save over $800 a year by using a household filter. Even the best pitcher, like the Zero Water Filter, costs less than $30.
- Upfront cost: $20
- Savings: Up to $830 (based on drinking three 12-ounce bottles per day)
Coffee maker
Coffee can be a significant expense. Making it at home can save you hundreds, if not thousands, of dollars a year.
If you’re in the habit of buying coffee from Starbucks or other coffee shops every day, the cost can add up quickly. Fortunately, making coffee at home is much more affordable. All you need is a good coffee maker and some coffee beans.
By making coffee at home, even a one-cup-a-day drinker can save up to $700 a year. The savings increase for those who drink two or more cups a day, potentially reaching up to $1,000 in savings.
- Upfront cost: $30 to $100
- Savings: Up to $1,000 (based on drinking two cups a day)
Cocktail shaker
A basic cocktail shaker is essential for making budget-friendly cocktails at home.
The art of cocktails has gained popularity over the past few decades, and the price of ordering these drinks at bars and restaurants can be quite high. However, you can save a significant amount of money by making cocktails at home with a good cocktail shaker. Two cocktails at a bar, costing around $15 to $20 each, twice a week can add up to $1,500 a year. Making the same cocktails at home can cost as little as $3 or $4, depending on the drink and ingredients used.
While you may need more than just a cocktail shaker to recreate the bar experience, the overall cost can still be much lower than constantly ordering drinks at bars. Additionally, making your own cocktails allows you to control the quality and quantity of ingredients, which can lead to more savings.
- Upfront cost: $20
- Savings: Up to $1,400 (based on drinking two cocktails per week)
