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The average lifespan of a home electrical system is anywhere from 30 to 70 years or more, depending on the type of system you have. Modern electrical wiring, like aluminum or copper, can last 50 to 70 years while older types may need to be replaced sooner. Additionally, circuit breakers tend to last anywhere from 30 to 40 years, while electrical outlets need to be replaced every 10 to 25 years. 

Ultimately, the best device depends on what you’re measuring. A voltmeter only measures volts, while a multimeter measures volts, current, resistance, humidity, and possibly much more, depending on the model. If you think you’ll need to measure more than volts, consider investing in a multimeter so you have a tool that can help you with various household projects.

Common warning signs of an overloaded electrical panel or meter box include frequent circuit breaker tripping, flickering or dimming lights, scorch or burn marks, and a burning scent coming from the panel. A circuit breaker trips as a protective measure to prevent overheating and potential fires. If you observe any of these signs, turn off the affected circuit breaker and move some devices to a different circuit. If the problem persists after turning the breaker back on, you should contact a professional electrician to resolve the issue.

It’s not recommended to turn off your breaker box in hopes of saving electricity. Breaker boxes were not designed to constantly be switched on and off. Therefore, turning off breakers unnecessarily can cause costly damage that outnumbers any energy savings. Only flip your breakers if absolutely necessary when troubleshooting an electrical issue.