Winter’s here and temperatures are dropping further south. It’s time to make sure you’re not wasting energy–and wasting money–on home heating costs. According to the U.S. Environmental Protection Agency, the average U.S. family spends over $2,000 a year on home energy, with nearly half of that going to heat and cool the home.
To save money, the EPA recommends taking the following 5 steps:
1. Make sure your home heating system is operating at maximum efficiency. Are its filters clean? Are any ducts leaking? Especially if your system is more than 10 years old, you should have it checked by a licensed contractor to make sure it’s working properly. After that, check your filters once a month and replace them when dirty. Change them at least every three months.
2. Get a programmable thermostat that can automatically lower temperatures when you’re asleep or away from home. By taking just this one step, you can save up to $180 a year.
3. To avoid losing heat, seal all leaks with caulk, spray-on foam or weather stripping. To retain heat, add insulation.
4. Use the EPA website’s Home Energy Advisor to see how your home’s efficiency compares with others in your area. The Advisor can offer further suggestions on what steps to take to boost your home’s efficiency.
5. Make sure all the appliances and home-improvement products that you buy are energy-efficient. Look for ones that display the EPA’s Energy Star symbol. The EPA has qualified more than 60 types of products, ranging from heating and cooling equipment to light bulbs.
For more information on cutting energy costs this winter, see: www.energystar.gov/heatingtips
For ways to save energy year round, see: www.energystar.gov/changetheworld
Article copied from abcnews.com
Friday, January 20, 2012
Friday, January 6, 2012
Personal Finance Resolutions You Need
Live Within Your Means
This is probably the simplest of all steps that you can take to get your financial life in order - and the hardest to actually perform. Start by reviewing your budget over the past year to see where your money actually went. After this, see where you can cut costs without sacrificing things that you need. Finding a new cable/internet or car insurance provider can often free up about a hundred dollars a month. Budgeting programs such as mint.com can help you do this and provide numerous other services and benefits as well, such as reminders of upcoming expenses.
Start a Retirement Plan
If you are not saving for retirement yet, now is the time to start. Your company retirement plan is a good place to begin saving, especially if your employer offers matching contributions. If you are already participating in your employer plan, consider increasing your contribution percentage or even making the maximum possible contribution, if you can afford it. If you make $40,000 a year, then a 15% contribution equals $6,000. If your employer will contribute 50 cents for every dollar you put in up to the first $3,000, then you have a total of $7,500 per year going into your plan. If you are 35 years old, then that would amount to $225,000 in contributions alone by the time you are 65. If you are already contributing the maximum amount to your company plan, then consider opening a Roth IRA and doing some investing on your own.
Create an Emergency Fund
Nothing disrupts a well-planned budget like large, unforeseen expenses such as major car repairs, medical bills and legal fees. Resolve to set aside $200 a month every month this year to put into a liquid savings or money market account so that you will be prepared for this type of expense when it comes up. You may need to get an additional part-time job to fund this, but allocating some time for this now may be a very wise investment for you when catastrophe comes calling.
Get Out of Debt
This is one of the greatest financial feats that you can accomplish in a given year. Paying off your debt is equivalent to getting a major raise, in terms of cash flow. Working an extra 12 hours a week for one year, at $10 an hour, will net you an extra $5,000 for the year.
The Bottom Line
These are just some of the general financial resolutions that you can make for the coming year to help you get back into the black and stay there. For professional advice consult your financial advisor.
Article from Investopedia.com
This is probably the simplest of all steps that you can take to get your financial life in order - and the hardest to actually perform. Start by reviewing your budget over the past year to see where your money actually went. After this, see where you can cut costs without sacrificing things that you need. Finding a new cable/internet or car insurance provider can often free up about a hundred dollars a month. Budgeting programs such as mint.com can help you do this and provide numerous other services and benefits as well, such as reminders of upcoming expenses.
Start a Retirement Plan
If you are not saving for retirement yet, now is the time to start. Your company retirement plan is a good place to begin saving, especially if your employer offers matching contributions. If you are already participating in your employer plan, consider increasing your contribution percentage or even making the maximum possible contribution, if you can afford it. If you make $40,000 a year, then a 15% contribution equals $6,000. If your employer will contribute 50 cents for every dollar you put in up to the first $3,000, then you have a total of $7,500 per year going into your plan. If you are 35 years old, then that would amount to $225,000 in contributions alone by the time you are 65. If you are already contributing the maximum amount to your company plan, then consider opening a Roth IRA and doing some investing on your own.
Create an Emergency Fund
Nothing disrupts a well-planned budget like large, unforeseen expenses such as major car repairs, medical bills and legal fees. Resolve to set aside $200 a month every month this year to put into a liquid savings or money market account so that you will be prepared for this type of expense when it comes up. You may need to get an additional part-time job to fund this, but allocating some time for this now may be a very wise investment for you when catastrophe comes calling.
Get Out of Debt
This is one of the greatest financial feats that you can accomplish in a given year. Paying off your debt is equivalent to getting a major raise, in terms of cash flow. Working an extra 12 hours a week for one year, at $10 an hour, will net you an extra $5,000 for the year.
The Bottom Line
These are just some of the general financial resolutions that you can make for the coming year to help you get back into the black and stay there. For professional advice consult your financial advisor.
Article from Investopedia.com
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