With all of the fees and low interest rates on savings accounts, banking can be surprising expensive. Consumer United has compiled a list of tips to help you avoid hidden fees and needless hassles.
Stay informed. A lot of banks stagger the order in which checks are deposited and accounts are debited in order to charge as many overdraft fees as possible. Keep a "cushion" in your checking account to ensure that any crafty banking practices won't dent your wallet.
Consider alternatives to a traditional checking account at a large, national bank. Credit unions sometimes have more flexibilities when it comes to overdrafting, and prepaid debit cards can also be a good option for customers who frequently send their accounts into the red through point of sale transactions.
Find a bank that works and stick with them. Banks may be more likely to accommodate the requests of long-term customers who have both checking and savings accounts. It's expensive for service providers to acquire new customers and maintaining a history with your bank will make them want to lose their established customers even less.
Get back to basics. With multiple accounts and a wallet full of debit and credit cards, it can be difficult to keep track of numerous balances. The more cards and accounts you have, the easier it is for you to overdraft. It's old-fashioned, but allotting a designated amount of cash for spending each week is a fool-proof solution.
With many retailers hoping to keep their sales figures high, there are lots of opportunities for shoppers to stretch their holiday budgets this year.
One of the best ways to get a deal is to do plenty of comparison shopping online. Many brick and mortar stores, especially large electronic and clothing stores, offer much of their merchandise online. Shoppers can save money on gas and shipping if they wait for the store to offer free shipping on online purchases, as well.
For example, Best Buy is offering free shipping on thousands of online items here.
Another benefit of shopping online is the ability to use coupon codes to save even more. There are Web sites dedicated exclusively to offering coupon codes, and some sites send them out to customers who have made purchases in the past. Some stores will even accept their competitors’ coupons for similar items.
For shoppers that plan on making a lot of their purchases in one location, a small investment in that store’s rewards card could lead to a big payoff. The Borders rewards plus card, for example, offers an additional 10 percent savings on purchases to members. Starbucks and many other well known specialty retailers also offer membership discounts. The memberships themselves make great gift ideas to help pass the savings along.
This year in particular, retailers are putting merchandise on sale and keeping those sales going up until the winter holidays.
Also, check out collective bargaining sites like Groupon which offers unique gift ideas here on the cheap. Click here for the lowdown.
With Thanksgiving approaching, holiday movie season is in high gear and many flock to the local cinema to recover from that Tryptophan-induced coma and catch the latest Oscar contender or big-screen bio-pic.
But is it affordable?
With the average adult ticket costing around $10, folks shell out major cash for a family night out. However, you can catch a flick on the big screen without the big price ... and snag one of those mega tubs of popcorn while you're at it.
Here are a few tips:
Be loyal Join a loyalty club at a theater near you. This is an easy way to snag discounted tickets. For example, AMC Theaters' AMC MovieWatcher Rewards offers free small popcorn each week. Loyalty clubs allow you to accumulate points from purchases made. Once you have enough points, you earn a free movie ticket.
Go at "off" times
Off hours are less expensive than peak hours. In San Francisco, Cinemark charges an extra 50 cents per ticket on Friday and Saturday night. Go during the day or right after work... then go out for dinner and drinks.
Buy in bulk
Is going to the movie theater becoming a weekly habit? Buy your tickets in bulk. At AMC theaters, you can buy your tickets in increments of 50. The price, between $6 and $7.50 a ticket.
Clip coupons
Always be on the hunt for coupons. You can find these in your local entertainment book. Special promotions happen too. Marriott is offering four free movie passes when you spend a weekend at a participating hotel or resort before Sept. 7.
Dig for discounts Check with your local theater for the discounts they offer. There is usually a student discount, as well as a senior discount. Don't forget to bring your student ID card!
It's getting chilly outside. Is your home ready for the frigid winter months? With energy costs at an all-time high, savings can be accumulated by making simple upgrades to your residence ... some with little to no cost.
According to the U.S. Department of Energy, reducing drafts in your home can lower your energy costs from 5 to 30 percent.
We've compiled the ways you can save this winter from Consumer Reports:
Upgrade insulation Insulation is important in order to keep the cost of heating your home down. Bob Markovich, home and yard editor of Consumer Reports writes, "According to our recent nationally representative survey, of more than 2,000 Americans, only 12 percent added or upgraded their home's insulation in the past three years and just five percent had insulated their heating and cooling duct work -- quick fixes that save you money for years to come."
So what should you do? Fix your insulation! If it's not time for new insulation, seal the cracks and duct work. This is a simple task that can save you big. Spend $500 once, and save $400 a year.
Buy a programmable thermostat A programmable thermostat can save you 20 percent off your heating costs. This thermostat lowers the heat by five to 10 degrees during the day when no one is home.
Fix the drips in your faucet A leaky faucet is guaranteed to cost you more money than you thought on your water bill. A Consumer Reports article states "Almost four in five states anticipate water shortages by 2013, which could lead to steeper rates and penalties for excessive water use." Stopping the leak is the easiest way to save $70 per household a year.
Buy energy-saving bulbs Purchase a compact fluorescent bulb to save money on your electricity. Consumer Reports recommends a variety of CFLs that range in price from $6 for a four-pack to $13 for a two-pack. Each life of a CFL bulb will save you $56. Again, a CFL bulb is worth the investment.
Halloween is lurking around the corner and the costs associated with the tricks and treats of the season can be a pocketbook horror show.
Shelling out hundreds of dollars on candy, costumes, decoration and accessories? Now, that's scary.
Here are a few tips to save on fright night:
Buy candy in bulk Head to the nearest BJ's Wholesale Club, Costco or Sam's Club and stock up on your Halloween candy stash. Buying smaller, one-pound bags of goodies at the corner drug store costs about the same as a five-pound bag at a bulk-buying warehouse. The caveat? Bigger isn't always better in regards to variety. Also, not everyone is frequented by a slew of trick-o-treaters. Team up with a friend or neighbor when buying in bulk to split the savings.
Get spooked for less Haunted houses, spooky hayrides and Halloween-themed amusement parks are a fave in the weeks leading up to fright night. Many attractions offer discounts to patrons if they visit during the weekdays instead of the weekend. Also, some haunts, like Six Flags' "Fright Fest," extend discounts to those who purchase tickets in advance at their online store.
Reuse decorations Like to transform your home into a full-blown haunted hotspot? Consider reusing decorations from previous years or, better yet, buy seasonal decorations that can be used throughout autumn. Uncut pumpkins on the porch can be showcased in the weeks leading up to Thanksgiving. Also, hay bales and garland made from plastic fall leaves can be transformed from a Halloween prop into a turkey day treat with ease.
Click here for additional ways to make your Halloween more budget friendly.
Our lesson of the day? Savings is never too cool for school.
Back-to-school shopping season is approaching fast and we've learned a thing or two on how not to burn a hole in your wallet. Time to whip out that No. 2 pencil. We've compiled a few ways to save without sacrificing the fun of the shopping season.
Buy used books Don't judge a book by its cover. Instead, save the criticism for the hefty sticker price traditional campus books stores charge for required texts. On a budget? No problem. With college students shelling out hundreds--sometimes thousands--of dollars on textbooks each year, check out used books stores and online shops like half.com and amazon.com as a viable way for frugal-minded collegians to save a few bucks.
Organize before shopping Make a list of the back-to-school supplies you need ... and don't shop without the list. This will eliminate over spending on items that are unnecessary. If you're not sure of the supples needed, e-mail the teacher or instructor. Maybe you don't really need that expensive calculator after all. One thing you will need to put on your list? An alarm. Check out iHome's bluetooth clock radio/alarm and speakerphone for iPhone and iPod only $89.99 after mail-in rebate
Procrastinate Wait to shop. The longer you wait, the better the sales. Putting a hold on back to school shopping may increase your anxiety, but in the end the savings are very rewarding. Kelli Grant, Sr. Consumer Reporter for SmartMoney.com says "buying basic items now while they're on sale, but wait until after school starts to buy the rest. Once the back-to-school rush has calmed down, retailers will often put traditional back-to-school items on clearance."
Ask for adjustments If a purchased item goes on sale around two weeks after you bought it, bring it back with the receipt for a price adjustment. The store will refund or credit you the difference, which may end up being really helpful.
Save with large retailers Don't rule out Target, Walmart and Costco. Big retailers such as these usually offer many discounts, especially for back-to-school shoppers looking to save on basic supplies. Best Buy offers great values on computers and electronics perfect for homework and play. Check out their helpful back-to-school checklist here.
Renting a car this summer travel season? Get your motor running.
But, before heading out on the highway, make sure you avoid the games car rental companies are playing to raise revenue from unsuspecting consumers. Yep, rental groups are getting creative with a slew of odd add-on fees and wacky rules in an apparent attempt to lift their profits.
The folks over at CNN serve up a list of six odd rules consumers should steer clear when shopping for a summer car rental:
1. The price game Agents are charging exorbitant late fees, like $1,000 a day with one example in Dayton, Ohio, and are even raising rates if patrons return their rentals early. The remedy? Secure a rate online using a site like Priceline or CheapOair.
2. Age limits often apply Under 25-years-old? You may have to shell out additional cash. Car rental companies often add a $20 a day or more surcharge to your bill. If you're younger than 21, it may be almost impossible to score an auto.
3. Additional drivers cost more Plan to share the wheel with another driver? Buyer beware. If there's a second driver, car rental groups often charge additional fees running about $10 to $12 per day.
4. Child safety seats cost more Even though safety seats for children is a requirement, some car rental companies are tagging on a surcharge for upgrading car seats for kids.
5. Car sizes redefined Some sneaky car rental companies are changing the class of the vehicle--from compact to a mid-size auto-- in an attempt to raise rates for unsuspecting consumers.
6. Short trips penalized Plan to drive under 75 miles in a rented car? You may be penalized. Rental companies are charging an automatic refueling service charge for those taking shorter trips.
Don't judge a book by its cover. Instead, save the criticism for the hefty sticker price traditional campus books stores charge for required texts.
On a budget? No problem.
With college students shelling out hundreds--sometimes thousands--of dollars on textbooks each year, an alternative is used books stores and online shops like half.com and amazon.com as a viable way for frugal-minded collegians to save a few bucks.
Also, students returning to the halls this fall may find it easier to shop and compare prices for textbooks thanks to a federal law that kicks in July 1 that requires universities to serve up its required book list upon registration.
The law, included as part of the federal Higher Education Opportunity Act of 2008, requires publishers to provide faculty with details about their selected books, including information about previous editions, any substantial revisions and alternative formats.
"Textbooks are a significant part of college costs," says Elsa Magee, acting president of the New York Higher Education Services Corporation (HESC). "A report revealed the average college student spends $1,000 a year on books, so it's imperative for students to use all available resources to save money on this expense."
HESC serves up a few tips for budget-savvy students:
Shop Early Get the book list as soon as you can and note the ISBN (the book's unique identifying number) and the edition required by the professor. Campus bookstores often have used books available at reduced prices, but supplies dwindle as the start of classes gets closer. Some college towns have independent bookstores near campus that carry used textbooks, so check them out, too.
Consider Online Shopping Most of the large online booksellers like Amazon.com and Half.com carry new and used textbooks at competitive prices that could save you money over purchases made at a traditional bricks-and-mortar store.
Textbook Rentals Renting books online can save hundreds of dollars over the cost of purchasing and may be a good idea if you don't plan to keep the book after the end of the class. Online companies such as Chegg, Campus Book Rentals, BookRenter and others promise savings up to 90 percent over the retail cost of books.
Yep, the heat is on but don't let the warmer temperatures burn a hole in your wallet. With 72 percent of American homes equipped with air conditioners, the energy experts over at AmerenUE serve up a few tips to average out the higher prices as temperatures rise.
Here are a few suggestions for cost-effectively keeping cool this summer:
Keep your air conditioner in the shade. To cool your house efficiently, make sure your AC isn't directly in the sun.
Set your thermostat as high as possible. Aim for the recommended energy efficient summer temperature of 78 degrees Fahrenheit or higher.
Ditch your air conditioner and use use a ceiling or portable fan as much as possible. Ceiling fans generally are more effective in rooms where family members congregate.
Check the filter on your air conditioner at the beginning of the summer. A clogged filter will use up to fiver percent more energy than a clean one.
Combat the heat by drawing shades and curtains on particularly hot days.
Use the exhaust fans in your bathroom and kitched to help reduce the humidity burden on your air conditioner.
Don't set the thermostat really low if your home is warm because it won't help it cool down any faster. When the AC is on, it runs on the same “speed” regardless of the temperature setting.
Buying a life insurance policy is one of the most important steps you can take to protect your family's financial future. It can also be one of the most confusing tasks.
The following are some mistakes to avoid when buying a life insurance policy:
Mistake No. 1: Procrastination is by far the most common mistake made by the majority of people. Most assume that it is either too expensive or that they don't need coverage because they are young. Neither situation could be further from the truth.
Term life insurance is especially affordable, with policies starting at under $20 per month. As for age, the best time to purchase a life insurance policy is when you are young and healthy. Not only does it ensure that you will get the best rates possible, but it provides valuable protection for growing families that are not yet financially secure.
Mistake No. 2: Purchasing the wrong policy is another common error. Life insurance is a complex topic with long-term implications, so it's a good idea to take your time and speak with an insurance agent about all your options. Cost, coverage, duration, tax consequences and other considerations should be addressed for your specific situation. Term, whole life and universal are just a few of the options available, so weigh your options wisely.
Mistake No. 3: Not purchasing enough insurance can be a problem. It's easy to underestimate the cost of living when initially purchasing a life insurance policy. In addition to replacing an income or paying down mortgage and other debts, it's important to add in an inflation-adjusted cost-of-living increase plus extra expenses likely to be incurred in the event of a loss. Everything from yard care and maintenance to child care and tutoring may need to be supplemented in the event of the death of a spouse. Tally up the total cost--plus inflation--for all the services and support provided by the insured person and then use it as your starting place when obtaining a quote.
Life Insurance help? Need help navigating through the complexities of selecting the right life insurance policy? Let Consumer United do the work for you. Contact our expert at 617-209-4299 or e-mail him at Aaron.Biedrzycki@consumerunited.com for a quote.
Willing to freeze your buns off this winter to save money and the environment? You're not alone.
According to an article here, a crew of eco-friendly bloggers looking to save some cold, hard cash are pushing the idea of "furnace abstinence" by revisiting their pre-central heat roots by going cold turkey during the frigid months.
Yep, some frugal-minded folks are seeing how long they can go without turning on their furnaces. In fact, one competition in New Jersey offers an iceberg-shaped trophy to the one who braves the cold the longest.
Of course, old-school methods including space heaters, wood-burning stoves and fireplaces are allowed.
One blogger, known as the Crunchy Chicken, is taking a less hardcore approach to "furnace abstinence" by challenging her readers to "Freeze Yer Buns" by lowering their thermostat a few degrees this winter and ultimately using less fuel.
"Because of the economic situation, most everyone is tightening up their purse strings, plus heating costs (oil, natural gas and electricity) aren't exactly cheap, so you have even more incentive to hop on board the chapped cheeks express," Crunchy Chicken writes.
The federal Department of Energy estimates most households in the Northeast corridor that use heating oil will pay an average of $2,009 (up 3 percent over last year) in heating costs over the course of the winter, while those with electric heating should shell out $1,465 (down 1 percent).
Those with natural-gas furnaces will pay an average of $1,135, a 13 percent decrease compared with costs in 2008 thanks to a drop in natural gas prices.
Not willing to go cold turkey this winter? Save up to $175 on home heating oil here through Consumer United when signing up for MassEnergy.
Renting a car this holiday season? Get your motor running. A columnist at USA Today serves up several money-saving tips to help curb costs for those renting a car.
Here are a few highlights:
Rent in the city: Columnist David Grossman says he saved $103 on a five-day rental after bypassing user fees on airport rentals and opting for a pick-up location in the city.
Drop off at the airport: Save money on cab fares by dropping off the rental at the airport instead of the inner-city locale. Most agencies don't charge extra for dropping off at a different location.
Capitalize on discounts: Many airlines offer discounts on car rentals as a customer-loyalty perk. Also, groups like the American Automobile Association (AAA) and the American Association of Retired Persons (AARP) offer group savings.
Avoid unnecessary insurance: Car rental companies generally recommend insurance consumers may or may not need. However, some auto insurance policies and a handful of credit cards cover car rental insurance. Check with your insurance provider and credit card company before shelling out the extra cash for coverage.
Book online: Many car rental companies offer discounts for customers who book online versus calling in the reservation over the telephone. For example, Consumer United partner CheapOair offers discounted rates, starting at just $13 per day here.
A video featuring two buddies preparing to carpool who get fuel-efficiency tips from a literal backseat driver snagged the top prize in the Drive Smarter Challenge video contest.
David Markus, a California-based freelance videographer and aspiring film director, walked off with the $5,000 prize for his "Backseat Smart Driver" short while taking a humorous approach to serve up driving tips to help motorists spend less on gasoline.
"At an early age, my father gave me tips to drive more efficiently -- accelerate slowly, inflate tires -- so when I started filming, I already knew most of the tips," says Markus. My friends actually tease that I 'drive like a grandma.'"
Click here for the lowdown on the Drive Smarter Challenge.
Are your finances out of shape? Don't fret. We've enrolled you into savings boot camp and have assembled a few cost-saving tips to battle that post-recession bulge. No weights or cardio work necessary. We promise.
Time to whip out the military fatigues and coupons.
Day 1 Are you late on a credit card payment? No worries. Call up your credit card company and see what they can do. They will work with you, because even if it's a smaller payment, it's better than not paying at all. You will feel better about your financial health at night. Sweet dreams!
Day 2 Have a little extra money in your checking account this morning? Hide it before you spend it! Sign on to your online banking or make a few calls before work. Send that extra cash over to your 401(k), your 403(b), or your 457. This can be sent automatically from each paycheck. The benefit? You get to it before the IRS. And your employer may even match your contributions.
Day 3 Today is the day you should consider cutting up your ATM card. I know it's hard but once you're used to it you will feel so much better financially. Here's what we want you to do instead. Make a list of how much you spend each week. Go to your bank and withdraw that amount in cash. That's it! Spend that amount over the week and no more. Stop withdrawing money from the ATM for instant gratification items. Those ATM withdrawals add up. If the items purchased were that important, you probably wouldn't be reading this right now.
Day 4 Today you need to hit the market for some fresh groceries. Take 20 minutes to search online for coupons before you shop. You will be surprised with how many coupons you will find. Check out coupon clipping tips here. The secret to coupon clipping? When you get the coupon, don't use it right away. Wait until there is another special going on at the market. This way, you will get two savings in one. "Most people think that when they first get coupons that they rush out and use them right away. But one of the best tips that you can do is to wait and hold onto that coupon. Because inevitably there's going to be a sale that you can match with the coupon for extra savings," says Anna Bannister of BeCentsAble .
Day 5 Today a bit of money will fall into your lap... and once in a while, a bit of money will fall into your lap. When it does, save it away. Maybe it's from your grandmother, or from yard sale proceeds. Maybe it's from a mortgage refinance. Whatever the source of this money may be, do your best to put the money away.
Every day Stop buying coffee. Enough is enough! The $6 a day habit turns into a $30 a week habit, and that results in a $120 a month habit. A better choice? Buy a french press for $40 and a pound of quality java for $10. $50 will let you drink coffee in style. Bring it to your office's kitchen. Savings? $70.
Once a week It's time to splurge, and make it count! Buy that novel you've been dying to read, download your fave iTunes record, score tickets to the football game or check out that exotic Copoeira class that meets once a week.
Energy-efficient "green" beer? A crew of engineers from Germany's Technische Universitaet Muenchen (TUM) are hashing out a new process that would save 20 percent of the energy used while brewing the frothy potent potable.
Yep, green beer is no longer reserved for St. Patrick's Day and food-color concoctions gone awry.
The scientists plan to unveil their energy-saving technique to the masses in Munich on Monday, Sept. 14. Their secret? The Weihenstephan engineers are working with thermo-chemical storage systems coupled with combined heat and power (CHP) stations to cut down on one of the most energy-intensive food and beverage processes.
Normally, beer is brewed in a kettle capable of generating temperatures of 110 to 160 degrees centigrade which boils down the intoxicating smells of hops into "crude beer," or the so-called wort. Almost half of the energy consumed in this traditional brewing process--45 percent to be exact--is used to make the wort.
Dr. Winfried Russ, the crew's project leader, is optimistic that their process will save 10-to-20 percent on energy costs. “We already know that it will work," Russ says in a statement here. "What we don’t know is just how much energy can be saved.”
College students have decreased their spending, due to tighter incomes and reduced student aid. However, many are still asking for financial aid for lifestyle expenses such as "interview preparation materials," according to an article by U.S. News & World Report.
Now is the time to prioritize your spending, and think about the debt load you'll have in a few years. We've compiled some ways to save money now so you won't have to pay more later.
Cut down on technology expenses
With free wi-fi everywhere, there's no need to pay for your own plan in college. The college libraries offer free internet, along with public libraries, coffee shops, cafes and campus dorms. Texts can add up along with long-distance calls home. Shop around for a good plan before you commit.
Sell your car
It's time to sell your car. More than likely, you won't need your car at school. Generally, universities offers free bus service to and from town. If you are attending college in the city, you definitely will not need a car. Get out and walk. Four years isn't a long time, but it will seem a lot longer if you have to pay for gas and monthly insurance.
Find a cheap room
The U.S. News & World Report article finds many people who have financial troubles are the ones who are living in the most expensive housing. Ditch the suite you are living in, you don't need it. Embrace the poverty of being in college. Find a cheap room and a roommate who is't too much of a party-goer... and suck it up.
Stop eating out
Students can save hundreds of dollars by eating realistic meals. If you live close to home, buy a meal plan at school that offers 10 to 15 meals a week, instead of the usual 20 ... and go home to eat for the weekends. If you like to eat out, buy the usual 20 and find out which restaurants nearby campus take your meal plan cards. If they don't, they may want to start.
Don't pay retail
Don't shop at retail stores because they are only guaranteed to hurt your wallet. Looking for books? Hit up nearby libraries. Looking for furniture? Shop at thrift stores, and browse sites like freecycle.org. You can find brand-new and gently-used clothes at nearly 80% to 90% off retail prices.
Our lesson of the day? Savings is never too cool for school.
It's back-to-school shopping season and we've learned a thing or two on how not to burn a hole in your wallet. Time to whip out that No. 2 pencil. We've compiled a few ways to save without sacrificing the fun of the shopping season.
Organize Make a list of the back-to-school supplies you need ... and don't shop without the list. This will eliminate over spending on items that are unnecessary. If you're not sure of the supples needed, e-mail the teacher or instructor. Maybe you don't really need that expensive calculator after all. One thing you will need to put on your list? An alarm. Check out iHome's bluetooth clock radio/alarm and speakerphone for iPhone and iPod only $89.99 after mail-in rebate
Avoid chain electronic stores Avoid large chain electronic stores for computers, a CBS news article reports. Instead shop around online for a better deal. Check out these sites for great deals on computers: CompUSA.com: Great selection of laptops for school starting at $299 OnSale.com: $200 off Toshiba Satellite L355-S7905 Celeron only $399.99
Procrastinate Wait to shop. The longer you wait, the better the sales. Putting a hold on back to school shopping may increase your anxiety, but in the end the savings are very rewarding. Kelli Grant, Sr. Consumer Reporter for SmartMoney.com says "buying basic items now while they're on sale, but wait until after school starts to buy the rest. Once the back-to-school rush has calmed down, retailers will often put traditional back-to-school items on clearance."
Ask for adjustments If a purchased item goes on sale around two weeks after you bought it, bring it back with the receipt for a price adjustment. The store will refund or credit you the difference, which may end up being really helpful.
Don't forget Target Don't rule out Target, Walmart and Costco. Big retailers such as these usually offer many discounts, especially for back to school shoppers. "Costco, right now, is offering up to $400 off Dell computers," says Grant. Walmart offers desks from $49, and Dell computers from $498.
The current recession has put a renewed focus on the importance of building household savings. Although even the most basic changes to consumers' behavior can have a positive impact on their financial health, there are five things nearly everyone can do to save more:
Treat saving like a monthly expense. Set aside a designated amount such as $250 or $500 per month and put it in a savings account at the same time as other bills are paid so the money is never missed. If possible, arrange an automatic monthly transfer between accounts to make saving even easier.Contribute the maximum amount to retirement accounts. If a matching program is available through your employer, contribute as much as possible to benefit from their program.
Keep investing despite volatility in the market. Putting money in at regular intervals over a long period of time should help to generate more consistent returns than trying to guess which markets or sectors will be successful in the short-term.
Plan ahead to make strategic decisions about when to begin collecting Social Security. For couples in particular, it may make sense for one partner to begin collecting benefits before the other. In addition, it's never too early to start planning the best ways to turn assets into income in the future.
Create a budget. Although it may require some time initially, a detailed budget can be a very effective way to learn more about each monthly expense. Simply knowing where your paycheck goes each month can help you make better decisions about how to cut back or reallocate your spending.
Yep, the heat is on but don't let the warmer temperatures burn a hole in your wallet. With 72 percent of American homes equipped with air conditioners, the energy experts over at AmerenUE serve up a few tips to average out the higher prices as temperatures rise.
Here are a few suggestions for cost-effectively keeping cool this summer:
Keep your air conditioner in the shade. To cool your house efficiently, make sure your AC isn't directly in the sun.
Set your thermostat as high as possible. Aim for the recommended energy efficient summer temperature of 78 degrees Fahrenheit or higher.
Ditch your air conditioner and use use a ceiling or portable fan as much as possible. Ceiling fans generally are more effective in rooms where family members congregate.
Check the filter on your air conditioner at the beginning of the summer. A clogged filter will use up to fiver percent more energy than a clean one.
Combat the heat by drawing shades and curtains on particularly hot days.
Use the exhaust fans in your bathroom and kitched to help reduce the humidity burden on your air conditioner.
Don't set the thermostat really low if your home is warm because it won't help it cool down any faster. When the AC is on, it runs on the same “speed” regardless of the temperature setting.
With all of the fees and low interest rates on savings accounts, banking can be surprising expensive. Consumer United has compiled a list of tips to help you avoid hidden fees and needless hassles.
