How to Save Money on Your Monthly Energy Bills

People are always looking for ways to save a little more money in today’s world Bills these days seem to be continually increasing, especially energy bills. Unless you’re in the middle of a big city, such as Chicago or New York, energy bills are going to be one of the more feared monthly bills. Luckily, with some ingenuity, you can help cut it in half each month.

Reusable Filters

Even though the low end AC and furnace filters are relatively inexpensive, the few dollars you spend each time you have to replace them add up over time. In addition, the action of replacing them often causes homeowners to delay, resulting in a less efficient system that tacks on money to your bill. Instead, purchase a reusable filter. At the end of 15 months, it will have paid for itself.

Upgrade Appliances

Most modern appliances are built to be energy efficient. While they may be expensive to begin with, many states offer rebate check incentives to upgrade to newer models. This on top of a lower electricity bill equates to less you have to pay out each month. When you’re out shopping, look for the Energy Star label.

Along with the Energy Star rating, you might also want to look for other energy efficient items. This would include items such as an energy efficient light bulb rather than your traditional incandescent bulbs. Most people now in days are going to the more energy efficient light bulbs as they are also supposed to last longer than your traditional incandescent bulb. This should in theory help you save on your monthly electric bills and how often you have to buy new light bulbs as well.

New Doors and Windows

The shape of doors and windows slowly morphs over time due to heat, moisture and all other environmental factors. Though they are perfectly designed to keep your indoor air from getting outside and vice versa, the shape deformities lead to cracks and openings that can’t be filled (Source: Northern Comfort). If you notice a breeze coming through around your doors and windows, it’s time to change them out.

Programmable Thermostat

It is estimated that programmable thermostats save you around 10% on your utility bill. By adjusting itself at different points in the day, the air and heat are never constantly running, only kicking in when you are in the house. Some models even learn your preferences and adjust automatically. There are also models that allow you to control the temperature in different rooms of your house and thus allowing you to heat the rooms you use the most and keep the rooms you use the least cooler or vice versa depending on if you are in summer or winter weather.

Cold Water

Instead of washing clothes and cleaning dishes in hot water, switch to cold. About 90% of the energy used by your washer goes to heating the water. This equates to burning 182 gallons of gas. By simply switching to a cold wash, the machine drops dramatically to only burning about 8 gallons. If you are worried about killing all the germs on your dishes, then don’t be. Using cold water will wash your dishes just as well as long as you use soap and wash your dishes well.

The bottom line is that your energy bill doesn’t need to cost a quarter of your monthly income. By making a few sacrifices in terms of using more cold water and investing in better appliances, your bill can be mitigated with relatively little impact to your lifestyle. With all of this energy you conserve, just imagine what a beneficial impact it will have on the environment.

Divorces Don't Have To Be Expensive: Six Tips To Save Money

One of the main reasons why many people stay in unhappy marriages is because of how cost-prohibitive divorce can be. Remaining in a marriage that makes you miserable can be emotionally crippling. If you want a divorce, don't be afraid of the costs involved. You can reduce your expenses if you follow these tips to save money throughout your divorce proceedings.

Take Your Time Finding An Attorney

Many people end up spending too much money on legal costs because they hire the first attorney they find online or in the phone book. When it comes to choosing a divorce attorney, be sure to take your time and compare costs. You don't want to spend too little money and find yourself with a sub-par attorney, but you also don't want to spend too much on a simply average lawyer. While some couples may avoid getting an attorney to try to save on costs, this a bad a idea. An attorney can help you speed up the process and get a fair outcome for you and any children involved. 

Try To Settle In Mediation

The longer your divorce proceedings, the more you'll spend. If your divorce actually goes to trial, court costs can really start to pile up. If you can settle in mediation and keep the proceedings out of a courtroom, you can save a lot of money.

Close All Joint Accounts As Soon As Possible

If you and your soon-to-be ex share credit or debit accounts, close them immediately. As long as both of your names are on these accounts, you can be held accountable for anything that he or she spends. Telling these creditors that you were in the process of getting a divorce won't get you off the hook. Not taking this critical step can quickly leave in you in unintended debt. Open up a different bank account to continue paying your bills without worrying about your partner spending all of the money. 

Create a Budget and Stick To It

Even if you're behaving smartly, cash will be tight during your divorce process. Create a budget based on your income and expenses and stick to it. Remember that a time will come again that you will be back on your feet and able to live comfortably. During your divorce, however, you can't be a spendthrift. Take a look at your budget and figure out how it will need to change until the divorce is finalized. Many people jump to what things will be like after the divorce, and don't take financial steps during the process to avoid financial problems. 

Don't Take Out Any New Loans or Lines of Credit

Many divorcing individuals will take out loans or open new lines of credit to take the place of the support they used to receive from their spouse's income. However, this is a one-way ticket to bankruptcy down the road. This is a time to monitor your finances carefully, not to assume new debts.

Don't Be Afraid To Sell Assets

Many people develop sentimental attachments to luxuries procured during their marriage. Items like boats and jewelry may have been a breeze to finance when you were in a two-income partnership, but they're extraneous and unnecessary when you're trying to save money during a divorce. There's no shame in selling off luxury items and creature comforts to get a little extra cash.

By following these tips, you can get through your divorce financially. It's important to understand all of the costs to not overspend or go into debt. With the right planning and effort, divorces don't have to be expensive. Informational credit to Kitchen Simeson Belliveau Llp.

How to Save Money on Your Next Home Remodel

When your home is no longer purely functional for your needs or when it has taken on an outdated look, a major renovation project may be in order. A renovation can transform your existing space to one that is more suitable for your needs and more accommodating to your personal sense of style. However, such an extensive project can cost a small fortune, and you may be wondering what steps you can take to save money on your upcoming remodeling project. There are a few ideas that you can consider as you prepare to remodel your home.

Choose an Experienced Contractor

Unless you know how to do most of your home renovation projects yourself, you will want to hire a professional contractor to come out and do them for you. This way you don’t make any mistakes and have to pay out more money to the general contractor to fix them. Some homeowners believe that using a contractor adds unnecessary expenses to their renovation project, but in reality, the right contractor can help you to save money while also giving you the finished results you are dreaming about. A contractor may have great working relationships with quality vendors, and these may be vendors who are known for hard work and excellent results. This can save you a small fortune on labor throughout the project. Keep in mind that it is important that you hire the right contractor. The last thing you want to do is hire another contractor to come out and fix the problems the first one may have caused.

One Project at a Tine

One of the other things that you can do is take on one project at a time. This way you are only spending money for that particular project which should allow you to save up more money for the other renovations that you would like to make. It also allows you to better maintain a budget for your home remodel.

Consider Alternative Materials

While labor costs can be expensive with a remodeling project, the same holds true for the cost of materials. There are numerous alternative materials that may be used to create a similar effect from a stylistic standpoint without the cost. For example, concrete flooring can be stained and scored to look like other materials, but it may be a fraction of the cost. Other materials like granite and marble will easily be more expensive. You can find other materials that look just as good that cost less. With that said, you may consider alternative materials to save money.

Look for Creative Design Alternatives

According to Alair Homes who specialize in major renovations in Courtenay, the design or scope of your project may also be inflating your costs unnecessarily. In some cases, it may be necessary to tear down walls, remove or add windows, move electrical fixtures or plumbing fixtures or make other significant changes to the home. However, these can all inflate the cost of a project, and it may not be necessary to do so. With creative design alternatives, you may be able to achieve similar or even better results without adding to your expenses.

A renovation project can help you to improve your home to your satisfaction, but a big project can also empty your bank account. When you are focused on saving money with your renovation project, consider how some of these ideas may be implemented effectively with your plans. Then, incorporate the ideas into your initial efforts to ensure that you move forward on a path that saves you money and that helps you to achieve the end result that you want.

Will You Be My Co-Pilot? 5 Important Things to Know Before Co-Signing on a Loan

When a loan applicant lacks the sufficient financial backing and creditworthiness to qualify for a loan on their own, a bank or lending institution may recommend that they find a strong co-borrower to back their loan. This may commonly occur if an individual has an insufficient credit history, poor credit or lack of assets or income to qualify fully. A relative or close friend may have recently asked you to be a co-signer on a loan that they are having difficulty being approved for on their own. While you may be inclined to sign on the loan simply to help someone you care about out, it is important to understand how this will impact your life and finances. Consider the following before agreeing to co-sign on a loan: 

Responsibility for the Debt

When you co-sign on the loan, it is important to note that you are equally responsible for the debt as the primary borrower. This means that if the primary borrower is not able to make the payments as agreed, due to job loss or another issue, you will be responsible for the debt. You essentially will be taking on this debt just as if you are the primary borrower or applicant on the loan request.

The Impact on Your Credit Scores

According to the professionals at Power Finance Texas in Houston who specialize in payday loans, any loan that you co-sign on likely will show up on your credit report and will impact your credit scores. Factors related to new credit inquiries, unseasoned accounts, the amount of debt owed to creditors and even late payments for this account all have the ability to negatively influence your credit scores.

Consider Why the Person Did Not Qualify on Their Own

Because you will be financially responsible for the debt and because it can impact your finances and credit scores, it is important to have a full understanding about why the person did not qualify for the loan on their own. If the person did not qualify, the bank essentially is stating that the person lacks the creditworthiness to qualify on their own, and this may be a warning to you. For example, if the individual has a history of being irresponsible with finances, you may think again about co-signing. On the other hand, if the person has been responsible but simply fell on hard times, due to job loss or illness for example, you may be more inclined to help out.

Your Ability to Qualify for Financing in the Future

Even if you want to help out a friend or family member, it is important that you think about your own finances and goals. Your credit scores and debt-to-income ratio will be impacted by the debt that you take on. In some cases, this additional debt may make it harder for you to qualify for a loan in the near future. If you have plans to apply for a car loan, a home mortgage or another type of loan, you may think carefully about how this new debt will impact your plans.

Being Targeted by Debt Collectors

In the event the primary borrower defaults on the loan, keep in mind that debt collectors may target both you and the primary borrower. This means that you may receive collections calls and letters until the loan is returned to good standing or paid off. Furthermore, collections on this account may impact your credit rating.

There are instances when co-signing on a loan is the right thing to do. You may feel comfortable with the risks and financial impact to you with co-signing, and it may not impact your future goals and plans. However, it is important that you fully understand the impact of co-signing and to ensure that the risk to you and your plans is minimal before you take on this additional financial responsibility.