Simple and inexpensive energy-saving tips that may help you save money.
The famous saying from Poor Richard’s Almanack is frequently misquoted. It was published by founder Benjamin Franklin in 1737: “A penny saved is two pence clear.” This phrase emphasizes the importance of thriftiness and wise financial decisions. Finding ways to manage expenses is one of the cornerstones of a sound financial strategy.
Here are some simple and inexpensive energy-saving tips that may help you save money.
Audit First...
To gain a better understanding of where you can enhance energy efficiency, consider conducting an energy audit. You can perform this yourself by acquiring a home energy monitor, which keeps track of your energy consumption, and a handheld air leak detector to pinpoint areas in your home where drafts are a concern, such as windows and doors.
Also, your local power utility may offer in-home energy audits or related services that can help identify remediation opportunities.
Then Act.
Consider these do-it-yourself ideas that may offer immediate savings at a low cost.
- Install a programmable thermostat to automatically lower the heat or air conditioning because—let’s face it—you forget to do it.
- Devices that offer “instant on,” or continuous display (e.g., TV, cable box and recharger) use energy non-stop. Consider a power strip to reduce their electrical use by shutting off the power strip at bedtime.
- Plug up the air leaks through weather stripping or caulking; install door sweeps to block drafts. Close the fireplace damper when not in use.
- Be sure to have your heating system serviced to ensure maximum efficiency.
- Install a water heater blanket and turn it down to 120 degrees; not only is a higher temperature wasteful, but a lower temperature is a safety precaution for younger children. Lower it to a minimum temperature when you leave for vacation.
Honk If You Like to Save Money
Several financial factors, including fuel prices, car payments, maintenance costs, depreciation, and lifestyle choices, can collectively lead to automobile(s) costing more money than the cost of running people’s homes. Here are ways to save:
- Tune up your car.
- Check your tires for proper inflation.
- Drive sensibly by eliminating excessive idling, aggressive driving, and observing the speed limit.
- Eliminate weight—empty that trunk!
Investment Advisory Services offered through Trek Financial LLC., an (SEC) Registered Investment Advisor. Information presented is for educational purposes only. It should not be considered specific investment advice, does not take into consideration your specific situation, and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment strategies. Investments involve risk and are not guaranteed, and past performance is no guarantee of future results. For specific tax advice on any strategy, consult with a qualified tax professional before implementing any strategy discussed herein. Trek 24-117