Many people make money by working on the job, just to loose it by not doing some simple things around the house. You can increase your yearly Net Household Income by as much as 25%.
Many people do not understand that there are two ways of making money.
1. Work and get a pay check.
2. Once you have the money, manage its use.
Here are 10 ways of managing your money.
1. Paint your roof white
A 1999 study by the Lawrence Berkeley National Laboratory's Heat Island Group found that in sunny climates, buildings with white roofs required up to 40 percent
less energy for cooling than those with black roofs. At current utility rates, that means you could save $120 or more per year in cooling costs. That is $120 that you would not have at the end of the year.
An inexpensive white, rubbery (elastomeric) coating will do the job and can be found at
most hardware stores in states in the southern half of the U.S. Elastomeric coating is a blend of polymers that is durable, flexible and waterproof, and offers the fringe benefit of helping to increase your roof's life span and water resistance.
All you'll need to apply it is heavy-duty paint rollers on an
inexpensive old paint roller frame, with an extension pole attached to save wear and tear on your back.
2. Install an irrigation meter
Do you know that you are charged twice for the water you use every month -- once to pump it into
your house and again to pump it out as sewage?
"The assumption is every gallon of water that you run out of your faucet is going to go back down the drain," says Eric Liskey, deputy editor for garden and outdoor living at Better Homes and Gardens magazine.
But if you use water to irrigate your
lawn or garden, that water never makes it into the sewer system.
To
save money by making sure you're only paying for the sewer capacity you're using, many Utility Companies offer the option to get a separate meter to measure water usage for irrigation, swimming pools, and other outdoor uses, Once installed, the meter will be read every month by your Utility Company and its reading subtracted from your sewage bill.
The meter will cost you several hundred dollars upfront. But since you'll no longer be charged for sewage capacity you're not using, it should pay for itself within a few years, especially if you use a significant amount of water in the yard. See your Utility Company for details.
3. Do a nightly energy sweep
We all have left fans, lights, or appliances on at night while we sleep, but doing so wastes increasingly expensive energy.
To save money, do a nightly sweep through the house to make sure all your
electric devices are turned off before you go to bed. It may be a pain, but the savings from simply turning everything off
can add up quickly. I do this every night before I go to bed. I also do this if I plan to leave for the day to go to work or go on vacation.
It takes about $9 per year to run just one compact fluorescent light bulb through the night, $21 for a conventional bulb and $35 for a big ceiling fan on high, according to the energy calculators at;
4. Set your water heater at 120 degrees
Not only does heating your water too hot create the danger of scalding, it can
cost you cash.
The Environmental Protection Agency estimates that a heater set at 140 degrees or higher can waste $36 to $61 annually in
standby heat losses to keep water at that temperature, and more than $400 to bring fresh water up to that high temperature. To save even more money, you can turn your electric heater off or turn your gas heater down when you go on
vacation to save even more.
5. Use reusable AC and furnace filters
How many times have you put off changing out the filter on your heating, ventilating and
air-conditioning system because you didn't want to buy a new filter?
Problem is, waiting a long time to change your filter makes your HVAC system less efficient and
costs you more in electricity. Dirt and neglect can even cause your expensive HVAC unit to die an untimely death, said Maria Vargas, spokeswoman for the EPA's Energy Star program. Instead, spend a little more to get a reusable filter than you can simply hose off when it gets clogged up with dust and other particles.
Using a permanent filter, you'll save money in the
long run, cut your utility bill and prolong the life of your HVAC unit. If the disposable AC filters that must be changed every three months are around $4 each, you can recoup the $20 to $40 cost of a permanent filter in as little as 15 months.
6. Upgrade your appliances
Many
state and local governments and utility companies offer financial incentives for homeowners to upgrade their appliances to newer, more energy-efficient models.
These incentives usually take the form of rebate checks for
homeowners who can provide proof of purchase. To save money, find incentives offered in your area by checking the online Database of State Incentives for Renewables and Efficiency, or
DSIRE. See your Utility Company, the IRS, or your State Tax Office for more details.
For instance, searching within the state of New York, DSIRE shows 47 separate tax incentives, grants, and rebate programs. That includes a state program that offers a rebate of $105 for an energy-efficient refrigerator if you recycle the old one, $75 for a freezer, and $100 for a
clothes washer.
AS OF JULY 20, 2011, ALL OF PENNSYLVANIA'S REBATE FUNDS HAVE BEEN DISTRIBUTED AND THE PROGRAM IS CLOSED.
7. Don't let cash slip through the cracks
When you add up the cumulative effect of all the
small leaks in your home, it has the effect of leaving a window open all year long, the EPA's Vargas says.
To save money, you can use inexpensive expanding foam or caulk available at your
local hardware store to seal cracks in the following areas where cold or warm air typically escapes.
Those places include:
· Around windows and doorframes.
· Around the top of the basement wall where the cement or block contacts the wooden frame, known as the rim joist.
· Around the holes in walls where pipes enter and
exit your home.
8. Do your meter and utility bill match up?
Utility workers make mistakes just like the rest of us, and when they make mistakes reading your meter, it can be costly. While you'll probably notice a big error on your
utility bill, you may not catch more subtle errors.
Make sure you're only getting charged for the
electricity you actually used by comparing the meter reading on your utility bill to what you actually see on your meter. If the amount on your meter is lower than the one on your bill, that's a dead giveaway that you're being overcharged.
As soon are your bills come in, you should review your credit card bill to make sure that you are not billed for something that you did not purchase. Many times, charges will show up on your phone that you know nothing about. All it takes to place unwanted charges on your phone is to answer the phone or answer an email on your computer. If you find such charges contact your provider immediately.
9. Buy Energy Star-certified products
You've probably heard of Energy Star, the partnership between the EPA and the U.S. Department of Energy that identifies energy-efficient products, especially as it relates to energy-intensive items like water heaters and
clothes dryers. But Energy Star labels won't just help you save money on big, expensive appliances, says Vargas.
"Energy Star now offers the label on over 60 different kinds of things, so
light bulbs, TVs, clothes washers,
refrigerators, furnaces, fans -- all those -- can earn the Energy Star rating," says Vargas.
And while an Energy Star light bulb won't yield as much savings as an Energy Star refrigerator, those savings do add up, she says.
What's more, many of the Energy Star-qualified products don't cost any more than conventional products, says Vargas. If they do, the EPA won't grant the Energy Star label unless its figures show
you'll recoup that extra outlay within five years or less on electricity and water costs.
10. Buy a programmable thermostat
Growing up, you probably had a frugal relative who enforced strict limits on how high or low the thermostat could be set. If you don't have one now, a
programmable thermostat can play this role for your home automatically. Based on your family's schedule, you can program it to automatically set the target temperature higher in the summer and lower in the winter when your family won't be home.
Prices on the thermostats have come down so much -- you can buy one at a hardware store for as little as $25 -- that installing one is a no-brainer, especially because the EPA estimates the
average homeowner can save $180 per year with a properly programmed unit.