Save Money: How To Reduce Your Utility Bill This Summer

Are you one of the many Americans who dread opening up your utilities bills each month? Fortunately, there are several ways to cut down on your utilities. These six tips can be a great way to get started with your monthly savings.

Turn off your electronics

It may be tempting to leave your TV or stereo on at night, or maybe you forget to switch off the lights when you leave a room. However, these costs can add up over the course of a month. Before you leave the house or go to sleep, do a quick sweep to make sure your electronics are switched off. This is especially important for charging laptops and cell phones. Take a quick look around your home before leaving for the day, and especially before long trips. You may be surprised at how much electricity you are using when you don't need it. Common sources that are often overlooked include: kitchen appliances like toasters, charging computers or phones, electronic shavers and power strips.

Upgrade your appliances

Switching to energy efficient appliances can save you hundreds of dollars on your utilities. Your AC units, dishwasher, and washer and dryer can all be replaced with a high-efficiency model. In addition, many local and state governments offer financial incentives to homeowners who choose to upgrade to more efficient appliances. Air conditioner installation is a simple process with the help of professionals, and can save you a bundle for years to come, says the experts at Cydcom Services Ltd. 

Choose your light bulbs carefully

If you choose to purchase energy efficient light bulbs, not only will you save money on your electricity bill, but you will also save money in replacement costs. Although energy-saving light bulbs are initially more expensive, an energy-efficient light bulb can last seven times longer than a normal light bulb and costs you much less on your utilities. You won't end up having to keep going to the store to buy more light bulbs either, making it much easier to maintain as well. 

Install an irrigation meter

A little known fact about your water bill is that you are actually charged twice, once to pump the water into your house, and again when you pump it into the sewage system. By installing an irrigation meter, instead of pumping the water back into the sewer, you can use it to water your lawn or garden. The meter will be measured each month by the utility company and subtracted from your water bill.

Buy a programmable thermostat

A programmable thermostat can also help you save money on your heating and air conditioning costs. You can use a programmable thermostat to keep the temperature cooler in the winter and warmer in the summer when you aren’t home during the day. This is an easy way to save money without making a conscious effort everyday. By having the programmable thermostat, you can set a temperature for your home each day or night, and not worry about constantly changing it or forgetting to turn it down when you aren't home.

Turn down your water heater

Setting your hot water heater on a higher temperature can cost you hundreds each year in standby heat losses. Most hot water heaters are set at 140 degrees, but by turning the temperature down to 120 degrees, you can save even more money on your monthly utilities bills. When you have company over or need to use more hot water, you can turn it up temporarily to save you money. Hot water is more expensive than many people realize. You should also consider doing your laundry with cold or warm water as often as possible. Using hot water for all loads of laundry costs the average homeowner hundreds of dollars each year.

Bills for your electric, water and gas can be expensive, but by following these six steps, you can greatly reduce your monthly utility expenses. Expenses that you can control can make a big difference in savings at the end of the year.

Creating a Will: What Everyone Tends to Overlook

Creating a will is something everyone should do at some point, regardless of the level of financial assets involved. Money, property, and real estate are the common primary considerations when deciding how items should be divided upon an individual's death, but there may be a few other considerations most people do not evaluate. Death can create legal confusion for those left behind, and those who die intestate will have all personal property divided according to the laws of the particular state. A will is a legal method of circumventing that mandated division.

FINANCIAL ASSETS

In most states, all personal property is automatically transferred to the surviving spouse at the time of death. Families that include duly entitled children from previous marriages may need to update personal wills regularly to avoid legal contention after an unexpected death. Financial asset transfer can be assigned by the primary individual during the will process, instead of leaving the courts to make the decision later. A will can be contested in court, but overturning a will is different from suing for entitled assets, and usually more difficult. Savings and investment growth should be considered when making the will, as these financial instruments tend to fluctuate in value. The same is true for real estate property. An intestate court transfer order for financially valued articles can mean a much larger settlement for the plaintiff without a valid will.

EARLY PROPERTY TRANSFER

Transferring property before death is a good way to avoid taxes and ensure your personal property is divided according to your wishes. This can be a crucial financial decision, regardless of financial asset level. The concept of the death tax is real, and normally applies when not addressed in a valid will. This can also include practically any type of property. Wills should be done with careful prior evaluation, and early transfer often gets left out of the equation. It is always important to allow for all options, especially when it means the inheritor maintains as much total value as possible.

GUARDIANSHIP and CHILD CUSTODY

There is more to making a will than merely assigning financial assets. Minor or disabled children are a family asset as well and proper instructions should be left indicating the guardian decedent's wishes on custody. This can include disabled adult children who live at home or with a guardian individual. Do not leave this important issue out when it applies, as the decedent has the legal right to recommend a living situation for either minor children or disabled legal dependents. In addition, this can also apply to the primary will maker with respect to predesignated power of attorney and health care before a health condition could render the primary incompetent. Property is not the only component to a valid will. These dispositions could even include custody of a pet.

SEPARATE WILLS

Married couples should always have independent wills because it leaves clear designation for property that may be later contested, especially when ex-spouses and step-children are involved. Many married couples have there own personal property, as well as community married property, so it is easy to have a complicated situation. Procrastination is not a good idea either, as the most complicated will cases come when the decedent was not prepared and no acceptable personal will can be located. Accidents happen all of the time, so being prepared is always best.

It is not necessary to retain an attorney to prepare a valid will. Even in simple situations, a will can be prepared with one of the many available do-it-yourself will kits, including instructions on notarization of the document. As long as it is properly notarized, it can even be written on scratch paper when acceptable. It may be a good idea to check into purchasing a fire proof safe before or shortly after making the will. If there is only one document, a SafeWorld a division of Dial locksmith may be the safest protection device and it always at the individual's disposal. Fire proof safes from Edmonton are also excellent for protecting other legal instruments and significant amounts of cash, deeds, and ownership documents. Wills should be re-evaluated each year at tax time, and potentially each quarter for those individuals with significant wealth who monitor growth on a daily basis.

Staying Ahead of Financial Problems

In today’s economy, financial stability is far from a given. And as more Boomers approach retirement age, the pinch is being felt. When living on a fixed income, how can you make moves to keep yourself ahead of the game, and not having to go back to work in your retirement years?

Plan Ahead

Take a look at your monthly budget. See how much your bills equal, and how much you have coming in a month. Is it just social security or a pension? Try to put a little bit away whenever you can, and figure out what expenses you can cut out of your spending. Figure out cheap ways to go on vacations or visit your kids. There are lots of ways to cut down on travel expenses on the internet. The important thing to realize is that putting a little forethought into things can save big money in the future.

Stay Within Your Means

If planning ahead is the best way to keep you out of financial trouble, this is the easiest. Don’t spend what you don’t have. It’s just that simple. Only bringing in 500 bucks a month and relying on your savings? Don’t spend 550. Can’t pay for something with cash? Don’t pay for it with a credit card. Of course, things aren’t always so cut and dried. Sure, you’re going to need to over extend every once in a while, a home repair or a car repair. Look for senior or AARP discounts. Just make sure that if you do use credit cards, you’ll be able to pay down the balance in a timely manner.

Take a Look at Your Assets

Do you have stocks? Maybe an old 401(k)? Or a structured settlement from an accident? Keeping an eye on these assets can be a good way to stay ahead when financial instability comes nipping at your heels. Stocks are easy to sell, call a stock broker. 401(k)s have a few more rules. There are two kinds, the traditional 401(k) and the Roth 401(k). Each has different withdrawal rules. With a traditional, there are penalties if you withdraw your money too early. There are no penalties with a Roth, but you can’t withdraw until you’ve had the account for five years. If you have one, selling a structured settlement or a portion of it may be the way to go. 

 Instead of receiving your money in timed payouts, you can receive a lump sum to help you out of any financial difficulties you may find yourself in. By selling only a portion of the structured settlement, even a portion of the timed payouts, you can continue to have checks come in while also receiveing the lump sum. In retirement, every bit of income counts. Companies can help you sell your structured settlement quickly and painlessly, and all costs can come out of what ever the lump sum ends up being, so nothing has to come out of pocket. 

Just Pay Attention

This may seem like a simplified way of summing up the above points, but it cannot be overstated. Pay attention to what’s going on in your finances. If something looks out of the ordinary, follow up on it. If you see something on your bank or credit card statements doesn’t belong there, make a phone call. It’s up to you to make sure that you know what’s going on with your money. Talk to a financial manager, take time to go over your finances monthly, and you should be able to stay ahead of the game.

7 Considerations for Seniors When Renting a Car for Holidays

Simon Rents (Photo credit: Thomas Hawk)

Today, seniors represent a booming segment of the population, and they’re doing more travelling than ever before. This has bolstered demand for hire cars among senior populations. With that in mind, we’re going to look at seven considerations for seniors renting a car on holiday: 

1. It’s worth shopping around.

Rates vary considerably from one location to the next, as well as from one hire firm to the next. Shopping around online ensures that you know what’s really available to you before you lock in on a particular rate. 

2. Some car hire firms have upper age limits.

Most people are well aware that there is a minimum age restriction for hiring a car. However, relatively few are aware of the upper limits. Many car hire firms cannot allow people over a certain age (often 70 to 75) drive one their vehicles. This has to do with the insurer that covers their fleet and does not necessarily reflect the sentiments of those at the car hire depot. This is nothing new, either—though it has become more of an issue as more seniors are travelling than ever before. Enquire about any age restrictions when placing the booking to avoid disappointment. 

3. Know what documents you will need.

If you are travelling in your home country, all you will probably need is a valid driver’s license. If, on the other hand, you’re headed overseas, you may need a passport and international driver’s license. Look into this early to avoid any last-minute hang-ups. 

 

4. Be open to lesser-known brands.

This is just a means of saving a few quid on your next rental and applies to renters of any age. It’s easy to get hung up on the big names in the car hire industry, if only because we constantly encounter their brand messages when making travel arrangements. However, it’s worth mentioning that smaller firms and lesser-known can often manage lower operating costs, and this translates into customer savings. Furthermore, they all offer the same basic vehicle makes and models. With that in mind, check in with websites such as www.leasingoptions.co.uk and similar hire firms to see if they can offer you steeper discounts. 

5. Airport rentals are usually going to cost more.

Hiring a car from an airport is more convenient than, say, hopping in a taxi or boarding an airport shuttle, transferring to an off-site location and completing your booking there. It also usually costs upwards of 30 per cent more. Of course, there’s absolutely nothing wrong with paying for a convenience, just bear in mind that you’ll be paying for that convenience every day for the life of the rental contract (i.e. not just the day that you pick it up). 

6. You may qualify for a senior discount.

There are all kinds of ways to secure discounts on car hire. Earlier we mentioned that many agencies are forced by their insurers to put upper age limits on who can drive a rental car. However, it’s not all bad news for seniors, as many agencies also offer discounts to drivers over a certain age. Even if the hire firm doesn’t explicitly offer a senior discount, many offer preferential rates to members of retirement associations such as AARP. Bear in mind, senior discounts are usually not advertised and usually require you to enter a promotional code that you picked up from a third party. 

7. Chauffeured hire cars may cost less than you assume.

This, of course, depends to a great extent on where you’re travelling. Outside of the West, it’s much more common for cars and drivers to come as package deals. This can be especially convenient in countries with lower development standards, where the roads and traffic conditions may be a bit chaotic.

Author: Leasing Options is a company that offers more than 30 different manufacturers for customers to choose from on their website, www.leasingoptions.co.uk. Between these brands, they have over 8000 different models that can be ordered online.