Two reasons many people switch to smart home products, such as lightbulbs and thermostats, are the promise of convenience and savings. I’d argue that, at least on the first point, that’s correct. Unfortunately, my experience is that they don’t necessarily save the average homeowner any money unless key changes are made. There are several ways smart products can actually waste your hard-earned money. Luckily, you can fix the five biggest money leaks with quick settings or habit changes. Related The Easy Fixes That Slashed My Home Energy Bill Use these energy-saving strategies to lower energy costs. Beware the energy vampires Why “Standby” is costing you more than you think Credit: Bryan M. Wolfe / MakeUseOf Products like smart TVs, game consoles, chargers, hubs, speakers, and set-top boxes have built-in standby modes. In some respects, this design is intended to save energy while still enabling the device to wake quickly, listen for commands, and run background tasks such as updates and notifications. Unfortunately, this isn’t always the case. These devices still consume power, and this consumption will …