You may not realize it, but at this very moment, you’re probably wasting electricity. Don’t feel too bad though; the fact of the matter is, most people are using more electricity than they need. The home is filled with electronic devices, and keeping track of them all can be a real hassle. Most of us tend not to think about it. After all, what damage can possibly be done by leaving the lights on in a room or setting the thermostat a couple of degrees cooler? Well, more than you probably think.

When it comes to electrical usage, one should think of the age-old economic theory, the Tragedy of the Commons. The principle is simple: Individuals acting rationally and in their own self-interest can actually act against the best interests of the group, by wasting a common resource needed by the collective whole. You may not believe that you’re using an exorbitant amount of electricity, but over time, this usage adds up. And this usage burdens the electrical grid and increases your spending. Thankfully, by being conscious of this fact, you can make changes that benefit your wallet, and the community as well.