I have a older Lincoln 175 square wave tig at my house do a descent amount of welding my question is does anyone have any real world experience with electricity bills that may have switched to a newer inverter style machine. want to make the switch just wondering if I will be saving any money on my huge electricity bills

You will save money on a more efficient inverter welder, but if you're just a hobby welder, you'll probably never notice the difference. It will make you feel like a better welder if that's worth anything.

I would say i'm not a pro buy any means but I do a lot of chassis and cage work all the time my machine is 17 yrs old

You got to do a bunch of welding to see it on the bill IME.