Simply ask yourself, "What will happen if I die?"

That answer will help you determine how much life insurance you need. For example, if you have a lot of debt that your spouse would be stuck with if you died, then you need some life insurance. Even still, a couple with a double income and no children normally will not need much life insurance.

When you have kids, you need to take out a term-life insurance policy that is 10 times your annual take home pay. The point is to have enough money to replace the income of the deceased spouse.

This is even true for stay-at-home moms and dads. They provide economic benefits by doing the majority of the cooking, cleaning, shuttling the kids, so do not forget to take out some life insurance on stay-at-home parents.

Few people need insurance on their children. Life insurance is meant to protect an income stream that can disappear due to a death. That why parents should consider carrying it, because others are depending on their income.

You might take the money you would have paid in premiums for your child and park that in your emergency fund or put it in a mutual fund. That is a good way to help your child no matter what happens.

Labels: IRA, life insurance, money saving tip

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Posted By: Joe on Monday, March 31, 2008
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Posted By: Jim on Friday, March 28, 2008
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Posted By: Jim on Friday, March 28, 2008
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Someone took out an ad on craigslist that said Robert Salisbury of Jacksonville, Oregon was being forced to leave the area and that he was giving all his possessions away for free, including a horse. Check out what happened.

Salisbury, who works as an independent contractor, was at Emigrant Lake when he received a call from a woman had stopped by his house to claim his horse.

On his way home he stopped a truck loaded down with his work ladders, lawn mower and weed eater.

"I informed them I was the owner, but they refused to give the stuff back," Salisbury said. "They showed me the Craigslist printout and told me they had the right to do what they did."

The driver then sped away after rebuking Salisbury. On his way home he spotted other cars filled with his belongings. Upon pulling into his driveway he was greeted by close to 30 people rummaging through his barn and front porch.

"They were like a pack of vultures," he said.

This is not the first time something like this has happened on Craigslist.

The scammer hijacks a legitimate rental listing and posts it to Craigslist. They post it for significantly less rent than is true. Applicants that respond on Craiglist are told to fill out an application and send money to an address. What makes it easy to fall for, is that the rental is a real legitimate rental. Buyers drive by the property and see the for rent sign so it makes the Craiglist ad seem real.

It also goes to show you, people believe anything they read on the internet.

Labels: Craigslist, Scam

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Posted By: Joe on Friday, March 28, 2008
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Home security does not have to be expensive, especially if you have Kimbo Slice as your service provider. Read on for some myths about home security.

1. A home security system will cost me a bundle
It may if you do not do your research first, but it does not have to. Compare different companies and the systems they offer, and you will soon find many affordable options, especially in the area of self-installed systems. Many of these systems require minimal investment of time and money, and can even decrease your homeowner's premium.

2. Alarm systems require a service contract
A common misunderstanding, and most likely the result of the prominent advertising by companies that do require contracts. However, securing your home can be as simple as purchasing a system, installing it, and letting it do its job without committing yourself to a service contract.

3. Systems must be professionally installed
Installation is a matter of simple wiring and basic programming skills, and can be done by most homeowners, especially those with a do it yourself mindset.

4. Alarm System Monitoring is costly
Should you decide to have your alarm system monitored, affordable options are readily available. A local company located down the street from me, SafeMart, offers alarm system monitoring for only $9 per month, with no contract required. They carry a great line of hardwired and wireless systems, check them out.

5. My pet will cause false alarms
Alarm system manufacturers know that almost 70% of US homes have one or more pets, and they design their systems accordingly. Motion detectors with pet-immunity are just one example of how alarm systems can be effective while accommodating pet owners.

6. My home is not a target for intrusion
Perhaps you live in the country and are always home. Or for some other reason you believe you don't need home security or safety products. Firstly, consider that burglars are simply looking for unprotected valuables, not a nice urban setting. Secondly, burglary is not the only consideration. Home safety products such as smoke detectors and carbon monoxide detectors are critical for any home.

7. Hardwiring an existing home is impossible
Running wires in an existing home is possible. There is duct cover that you can use to hide wire runs, or you can run it above or below the areas you are looking to secure.

8. Wireless alarms are unreliable
Another common misunderstanding. While it may have been true in the past, advancements in technology have made wireless alarm systems a very stable and reliable option. For example, unique radio signals are now used with wireless systems to remedy the problem of frequency interference.

9. Programming is complicated
If you can program a VCR or operate a computer, you can program an alarm system. Like anything that is new, there is a slight learning curve to overcome, but the documentation that is included with every panel is written in a way that is easy to understand.

10. Intruders can easily disable the alarmHardwired systems are always a good choice if you are concerned about intruders disabling your alarm system. This does not mean that wireless is a bad choice. With the use of wireless keypads and keychain remotes, you can place your wireless alarm system in a secured area of your home and still have convenient access points to arm and disarm your system.

Labels: home security, Kimbo Slice, money saving tip

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Posted By: Joe on Thursday, March 27, 2008
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Posted By: Jim on Thursday, March 27, 2008
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Posted By: Jim on Thursday, March 27, 2008
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As Cicero once said, "If you have a garden and a library, you have everything you need." And at the library you can lean how to grow a garden. Read on to see why you should go to your local library.

I love libraries. The local library was one of my favorite places when I was little, and over the years, I still enjoy my visits. The library I now patronize has the following available to me. Here are my top 12 reasons to go to a library.

1. Free video rental

2. Free internet access

3. Free wireless

4. Free income tax forms and instruction booklets

5. Free classes for those who do not know how to use the computers effectively.

6. Free newspapers and magazines subscriptions

7. Free Audio books and tapes

8. Free music CDs

9. Free story time for kids

10. Free meeting rooms

11. Free study rooms

12. Free magazine, newspaper and journal database


Go to your public library. There are programs available for adults and children and most of them free. If the library does not have what you are looking for, they can probably inter-library loan it for you for another library within the state.

Labels: Cicero, Library, money saving tip

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Posted By: Joe on Wednesday, March 26, 2008
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Posted By: Jim on Tuesday, March 25, 2008
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Posted By: Jim on Tuesday, March 25, 2008
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The number of Americans, who may have unknowingly purchased leather jackets trimmed with fur, may be in for a surprise for what they really have. Of, course, except for the Willis family, they brag about their dog sweaters.

Their beloved dogs may have gone to the great kennel in the sky, but for Beth and Brian Willis they will always be close. Because the couple have had his and hers sweaters knitted out of the hair shed by their dogs and spun into yarn. The idea to use the hair, which would otherwise have been vacuumed up and thrown out with the garbage, came after dog breeders told the couple of the unusual use it could have. They say it takes about 40 ounces of hair to properly spin it into enough wool for an average sweater.

OK, back to the orginal story. The jackets in question are the latest of a set of coats Humane Society investigators discovered being sold by some of the largest names in fashion last September-November. During that same time, investigators found seven jackets advertised or labeled as faux that in fact used real fur. The Humane Society publicized those results in Dec. 2007. With the inclusion of these latest results, raccoon dog fur has now been found on 70 percent of the jackets investigators have tested and found to have apparent violations of the Federal Fur Products Labeling Act. The raccoon dogs merely have facial markings that resemble raccoons. Raccoon dogs (scientific name Nyctereutes procyonoides) are actually members of the dog family and are indigenous to Asia.

The names of the retailers and brands associated with these latest jackets, sold over the winter, include Eluxury, Dillard's, Dr. Jay's, Caché, Bluefly, Sears, and Juicy Couture.

Labels: Bluefly, Cache, Clothing, Coats, Dillard's, Dog, Dr. Jay's, Eluxury, Fur, Fur-lined, Humane society, Jackets, Juicy Couture., Sears, Sweater, Willis

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Posted By: Joe on Tuesday, March 25, 2008
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In these times of foreclosures and high gas prices, some people may have IRAs they want to tap into before 59 1/2. Read on to see how you can.

1. Permanent disability of IRA owner.
Your money can be withdrawn without penalty in the event the IRA you become permanently disabled. You are considered disabled if you can furnish proof that you cannot do any substantial gainful activity because of your physical or mental condition. A physician must determine that your condition can be expected to result in death or to be of long, continued, and indefinite duration.

2. Withdrawals are used to pay non-reimbursed medical expenses.
In the event of serious illness or injury that requires prolonged or expensive medical treatment, the IRS will waive the early withdrawal fee on the condition that the expenses are in excess of 7.5% of your adjusted gross income.

3. Withdrawals used to help pay for first-time home purchase.
Despite a lifetime limit of $10,000, this exemption can make it much easier for an IRA owner to buy a house. It must be used to pay qualified acquisition costs for the main home of a first-time homebuyer who is any of the following.
a. Yourself.
b. Your spouse.
c. Your or your spouse's child.
d. Your or your spouse's grandchild.
e. Your or your spouse's parent or other ancestor.

4. Higher education costs.
Higher education expenses can be paid for as long as they are tuition, fees, books, supplies, and equipment required for the enrollment or attendance of a student at an eligible educational institution. They also include expenses for special needs services incurred by or for special needs students in connection with their enrollment or attendance. In addition, if the individual is at least a half-time student, room and board are qualified higher education expenses.

5. Money is used to pay back taxes to the IRS after a levy has been placed against the IRA.
This is not an exemption that will make you rich, but it may save you money if you find yourself in an uncomfortable position with the IRS.

6. Withdrawals used to pay medical insurance premiums.
You will not have to pay the tax on these amounts if all of the following conditions apply.
a. You lost your job.
b. You received unemployment compensation paid under any federal or state law for 12 consecutive weeks because you lost your job.
c. You receive the distributions during either the year you received the unemployment compensation or the following year.
d. You receive the distributions no later than 60 days after you have been reemployed.

7. Death of IRA owner.
Hey who said the IRS was heartless. If you pass away before you are 59 1/2 years old, your estate will not be paying the 10% early withdrawal fee.

One hitch to all of this is the holder of an IRA is subject to a five year waiting period. An investor could not, for example, deposit $2,500 in their IRA this year and withdrawal it next year penalty-free even if it would otherwise qualify as an exemption.

Labels: IRA, money saving tip

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Posted By: Joe on Monday, March 24, 2008
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I love ATM machines. Whenever I need cash, my money is just a few clicks away. But there is one service on ATMs that a lot of people do not take advantage of:

Deposits. While about 90% of American households use ATMs to withdrawal money, only 29% take advantage of the deposit service at ATMs.
I do not know what it is. Something about putting cash or a check in an envelope and placing it in a machine gives some pause. What happens if the deposit money and someone destroys the ATM in order to steal the cash?

Another reason I think people do not take advantage of the ATM deposit service is that their money will not be available as quickly if you do your deposit with a good-looking teller.

When I lived out in Virginia, I took over being the church treasurer. The first thing I did was get an ATM card for the account so I could just drop the collection off Monday morning after it was counted. As I reported in an earlier post, USAA Bank is the only bank that allows you to scan your deposits and email them.

So if you want to save some time in your day, give the ATM a try with your next deposit.

Labels: ATM, time saving tip

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Posted By: Joe on Saturday, March 22, 2008
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Money buys happiness -- if you spend on someone else

WASHINGTON (Reuters) - Money can buy happiness, but only if you spend it on someone else, researchers reported on Thursday.

Spending as little as $5 a day on someone else could significantly boost happiness, the team at the University of British Columbia and Harvard Business School found.

So, it stands to reason that our political leaders should be the happiest people in the world, right?

Labels: Happiness, Politicians and Money

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Posted By: Jim on Friday, March 21, 2008
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Most American household spend 25% of each energy dollar producing domestic hot water. Nationwide more residential energy is consumed by domestic hot water than on anything but heating and air conditioning. Read on to consider some things before you buy.

You could save up to 60% on your monthly water heating costs by installing a tankless water heater in your home. A tankless water heater is a demand-type unit. This means that it operates ONLY when hot water is drawn in your home.Before buying a Tankless Water Heater, consider the following:

Fuel Type, Location and Size and Demand Application

1. Fuel Type

The first thing that you will need to decide when selecting a Tankless Water Heater is the fuel type. You will need to select between an Electric Tankless Water Heater or a Gas-Fired Tankless Water Heater.

If you plan to purchase an Electric Tankless Water Heater, consider the Electrical Requirements:

Voltage, Amperage,Circuit Breaker

Voltage
Many retailers sell units that will accommodate various voltages, be sure to pick one that your electrical system can accommodate or you will be paying for electrical work.

Amperage
Different Electric Tankless Water Heaters will have various requirements in amp draw. You will want to ensure that you can support the electrical demands of your Electric Tankless Water Heater.

Circuit Breaker
You must ensure that you have a circuit or circuits that will support your Electric Tankless Water Heater. It may be necessary to put your Electric Tankless Water Heater on its own circuit or circuits.

Gas Heaters
You will first need to identify whether your gas type is Natural Gas or Propane. It is imperative that you examine your current gas line to ensure that it will meet the requirements of your new Gas-Fired Tankless Water Heater. The requirements of the Tankless Water Heater may exceed that of your existing tank water heater.

Depending on where you will be installing the Tankless Water Heater, a kit will probably not meet your needs to provide adequate venting. Ensure that you measure out the vent route and consider where the discharge will go through the wall or ceiling, consider the necessary clearances, and consider ample access to air for combustion, then buy the appropriate gas venting pieces.

2. Location, Size, and Demand

When deciding which Tankless Water Heater to purchase, you will also need to consider where you will need hot water. Are you looking for a unit that will heat the water at one bathroom sink, an entire bathroom, or an entire house, apartment, or condo? It is important to recognize the number of fixtures that will require hot water.

3. Application

Although gas-fired demand water heaters tend to have higher flow rates than electric ones, they can waste energy if they have a constantly burning pilot light. This can offset some of the energy savings. Moreover, much of the heat produced by the pilot light of a tank-type model heats the water in the tank, a savings that is just lost with the instantaneous units.

Tankless water heaters are more efficient than tank water heaters, but reviews say they take some getting used to. If you want to switch to a more efficient tankless water heater, be aware that you may need some time to adjust, since water delivery is different than with a tank water heater. Since tankless systems do not start heating water until you turn on the tap, there is a delay before the water runs hot.

Flow rate of hot water from a tankless system is greatly affected by the temperature of your groundwater. The warmer your groundwater, the better the flow rate. Homes in colder climates will need a larger system to get an adequate hot water flow rate. The average groundwater temperature in the U.S. is about 50 degrees Fahrenheit. Most people like shower temperatures of between 105 degrees and 120 degrees, so your groundwater temperature would need to be raised by 60 to 75 degrees.

One other consideration is in areas with hard water; the water heaters are prone to lime up and seriously harm their efficiency. So over time, there efficiency my dwindle as the deposits build up within the unit. You can check online for reviews of tankless water heater systems, and then decide if it is the right fit for you.

Labels: money saving tip, water heater

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Posted By: Joe on Friday, March 21, 2008
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It is important to keep your vehicle properly maintained and alter your driving habits if you would like to maximize your gas mileage. Read on for the tips.

1. Monitor your tires. Under-inflated tires waste fuel by forcing the engine to work harder. It is ideal to check the tire pressure first thing in the morning or let the tires cool down before checking the pressure. The pressure in your tires changes with the temperature. The colder it is outside, and the lower your pressure will be. Operating a vehicle with just one tire under-inflated by 8 psi can reduce the life of the tire by about 10,000 miles and increase your vehicle's fuel consumption by 4 percent.

2. Out-of-line wheels, as evidenced by uneven tread wear, should be aligned by a professional. Wheel alignment should be checked once a year. Misaligned tires will drag instead of rolling freely. This will increase fuel consumption, reduce tire life and cause problems with the vehicle's handling and ride.

3. Wheels should also be balanced. If they are out of balance, the driver will feel a pounding or shaking through the steering wheel. This pounding will shorten the life of other suspension components and will produce uneven tire wear, which will increase fuel consumption.

4. Dragging brakes (when the brake pad or shoe fails to release from the disc or drum) can significantly increase fuel consumption because the vehicle must work harder to overcome the resistance. This also reduces brake life and effectiveness, making the vehicle harder to drive. It is important to have your brakes inspected and the brake fluid checked and changed at the interval specified in the owner's manual.

5. Consolidate your daily trips and errands. Some trips may be unnecessary. Also, try to travel when traffic is light so you can avoid stop-and-go conditions.

6. Observe speed limits. While each vehicle reaches its optimal fuel economy at a different speed (or range of speeds), gas mileage usually decreases rapidly at speeds above 60 mph. As a rule of thumb, you can assume that each 5 mph you drive over 60 mph is like paying an additional $0.20 per gallon for gas.

7. Drive gently. Sudden accelerations guzzle gas. Anticipate traffic patterns and adjust your speed gradually. Use cruise control as much as possible.

8. Get rid of excess weight by removing unnecessary items from the vehicle. Now that winter is about over, store only essentials in the trunk so less weight means better mileage.

9. A well-maintained engine will help you maximize the gas mileage for your car. A misfiring spark plug can greatly reduce gas mileage. Follow the service schedules listed in your owner's manual. The spark plugs in a gasoline engine ignite the air-fuel mixture. If one or more of the plugs is worn or malfunctioning, the engine will misfire, and some fuel will remain unburned. Worn or damaged spark plug wires can also cause misfiring. A misfiring engine wastes fuel, produces higher levels of emissions and generally performs poorly.

10. If you have surfboard racks, a bike carrier or luggage carrier that you are not using, removing these will cut down on the wind resistance and increase your gas mileage.

Labels: gas mileage, money saving tip

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Posted By: Joe on Thursday, March 20, 2008
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Posted By: Jim on Wednesday, March 19, 2008
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MediaCart Holdings, Microsoft and Wakefern Food Corporation plans to collaborate on the next-generation computerized shopping carts for potential rollout to all ShopRite stores.

Here is how it works. A shopper would scan their card at the MediaCart and receive ads and promotional offers based on past purchases and/or saved shopping lists that could be uploaded from a home PC.

In addition to the advertising shoppers will receive, they will also be able to save time and money with MediaCart shopping carts by performing comparative price checks, locating products in the store, viewing store specials in aisle as they shop, viewing recipes and nutritional information, shopping using an electronic shopping list that is presented in aisle order, totaling the cost of the items in their baskets before checkout, and expediting the checkout using the cart-level checkout feature.

If a cart gets taken too far from the supermarket it will "phone home" with its location. I wonder what the price tag will be on this high-tech cart?

Labels: MediaCart, money saving tip

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Posted By: Joe on Wednesday, March 19, 2008
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Posted By: Jim on Tuesday, March 18, 2008
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Posted By: Jim on Tuesday, March 18, 2008
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Posted By: Jim on Tuesday, March 18, 2008
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Posted By: Jim on Tuesday, March 18, 2008
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TowerGroup estimated that gift card sales topped $80 billion in 2006, up 20% over 2005. That money represents a windfall for companies that issue them Why? Because 10% of gift cards purchased go unused. Read on for 10 tips to think about.

Indeed, that is a drawback for us consumers, we do not always remember or get around to using them. In light of Sharper Image's suspension of their gift cards while they file for bankruptcy, the lesson here is to be careful where you buy gift cards and if you get one from a struggling company, you might want to use it sooner rather than later. Here are 10 things to consider before purchasing a gift card.

1. While 92 percent of the nation's top retailers have no expiration dates or dormancy fees associated with gift cards, it is recommended that consumers understand individual retailers' policies before purchasing gift cards, so read the fine print.

2. You should shop smart for gift cards. To ensure that a recipient receives the card's full value, shoppers should only buy gift cards from reputable retailers (not online auction sites). Gift cards sold through online auction sites are more likely to be counterfeit or obtained through fraudulent means. Additionally, consumers should keep their original receipt with the value of the card they purchased in case there are any problems with the card when it is redeemed.

3. Consumers should be aware that there are big differences between store-issued and bank-issued gift cards. While 92% of the leading retailers have no fees associated with gift cards, card issuers such as VISA and MasterCard are more likely to expire and tack on annoying activation, maintenance, inactivity, and transaction fees. In fact some bank-issued gift cards even charge a fee for simply checking the balance, so be sure to keep up with your balance.

4. Retailers do not count a gift card as a sale when it is purchased, instead, they wait until the gift card is redeemed and merchandise is exchanged. As a result, some of the billions of dollars spent on gift cards purchased for Christmas may not show up in holiday sales, but instead as sales in January or February, when the gift card is redeemed. Retailers are enticing consumers to redeem their gift cards sooner by having special sales and bringing in new merchandise in January to give consumers more of a selection.

5. Spend your gift card before the government takes the money away. While the rules may not kick in for a couple of years, many states have laws which allow the state to collect abandoned property, which means that if personal property goes unclaimed for a certain period of time, the state has the right to take it into the state treasury. Where these laws apply, sometimes in as little as 2-3 years, retailers are required to turn over unused gift card dollars to state governments under the guise of returning the abandoned money to the gift card purchaser. In fact, states make millions of dollars a year from these clauses. Consumers are encouraged to spend their gift cards within the first year of purchase so that they receive the full value.

6. Due to improved technology, some retailers are able to reissue a lost gift card if consumers have kept the original purchase receipt. Some retailers also encourage gift card recipients to register their card through the store's website, which enables them to check their balance online and receive a new card if they lose or misplace the original card.

7. Retailers are adding new features to gift cards, making them more personalized for the recipient. Many retailers are allowing consumers to design their own gift cards, adding personal messages and photos.

8. Another convenience factor is that many stores are able to carry gift cards at their check-out counters because today's gift cards are not active until scanned. Also, many retailers like grocery stores and drug stores carry a variety of different gift cards at their registers for other retailers such as movie theaters, coffee shops, and clothing stores

9. Most of today's gift cards differ from traditional gift certificates because they are a stored value on a card. When a consumer spends $25 from a $50 gift card, the card automatically updates the balance. This is more efficient than the retailer reissuing another gift certificate to the consumer for the balance.

10. Save yourself the guesswork and buy gift cards, especially for babysitters, newspaper carriers, mailmen, teachers and other people that deserve from you. Gift cards are a great way to let gift recipients choose what they want, save time shopping and it is an easy way to stick to a budget.

Labels: gift card, money saving tip

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Posted By: Joe on Tuesday, March 18, 2008
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Posted By: Jim on Monday, March 17, 2008
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Only about 1 percent of U.S. paper currency in circulation is counterfeit because the U.S. Secret Service thoroughly investigates all reported counterfeiting cases and there are harsh criminal penalties for counterfeiting or passing fake bills. See what you can do to notice these frauds.

Look at the money you receive. Compare a suspect note with a genuine note of the same denomination and series, paying attention to the quality of printing and paper characteristics. Look for differences, not similarities.

Portrait
The genuine portrait appears lifelike and stands out distinctly from the background. The counterfeit portrait is usually lifeless and flat. Details merge into the background which is often too dark or mottled.

Federal Reserve and Treasury Seals
On a genuine bill, the saw-tooth points of the Federal Reserve and Treasury seals are clear, distinct, and sharp. The counterfeit seals may have uneven, blunt, or broken points.

Border
The fine lines in the border of a genuine bill are clear and unbroken. On the counterfeit, the lines in the outer margin and scroll work may be blurred and indistinct.

Serial Numbers
Genuine serial numbers have a distinctive style and are evenly spaced. The serial numbers are printed in the same ink color as the Treasury Seal. On a counterfeit, the serial numbers may differ in color or shade of ink from the Treasury seal. The numbers may not be uniformly spaced or aligned.

Paper
Genuine currency paper has tiny red and blue fibers embedded throughout. Often counterfeiters try to simulate these fibers by printing tiny red and blue lines on their paper. Close inspection reveals, however, that on the counterfeit note the lines are printed on the surface, not embedded in the paper. It is illegal to reproduce the distinctive paper used in the manufacturing of United States currency.

Raised Notes
Genuine paper currency is sometimes altered in an attempt to increase its face value. One common method is to glue copied numerals from higher denomination notes to the corners of lower denomination notes.

These bills are also considered counterfeit, and those who produce them are subject to the same penalties as other counterfeiters. If you suspect you are in possession of a raised note: Compare the denomination numerals on each corner with the denomination written out at the bottom of the note (front and back) and through the Treasury seal.

Compare the suspect note to a genuine note of the same denomination and series year, paying particular attention to the portrait, vignette and denomination numerals.

Security Thread
Look for a security thread (a plastic strip) running from top to bottom. Beginning in 1990, an embedded (not printed) security thread was added to all bills except the $1 and $2 bills. If you hold the bill up to the light you easily see the strip and printing on it. The printing will say USA followed by the denomination of the bill, which is spelled out for $5, $10, and $20 bills but presented in numerals on the $50 and $100 bills. These threads are placed in different places on each denomination to prevent lower denomination bills being bleached and reprinted as higher denominations.

Labels: counterfeit, money saving tip

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Posted By: Joe on Monday, March 17, 2008
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Here are the 12 tips that I have personally used to save on my home heating costs.

1. Head down to the basement and reduce the setting on your hot water thermostat by about 10 degrees. The adjustment dial is typically a red knob towards the bottom of the water tank.

2. Go ahead and put an insulation wrap on the water heater, that has one of the fastest payback periods. Be sure not to block the venting on top if you have a gas heater.

3. While you are downstairs, make sure you have clean filters for your central air-heating unit. A dirty and clogged filter will force your unit to work much harder and stay on longer as it struggles to push fresh air through the clogged filter to heat the rest of your house.

4. Check your air ducts for gaps, leaks or disconnects. If you have any disconnects or leaks in your duct work, your heating bills could be 25% higher than they need to be if these gaps were sealed. This last fall, I insulated my main floor duct work that was in my basement. Within a minute of the heat coming on, I felt the hot air, rather than the cold while the ducts was heated.

5. Adjust your thermostat a few degrees lower. Believe me, this really adds up. It may not seem like much of a difference to you, but you will notice the difference when you get a lower bill each month.

6. While we are on the subject of thermostats, consider replacing yours if it is not programmable. The reason is, you can set the thermostat so the temperature setting in your house is lower at night than during the day, when you are awake. Also, if you are away at work during the day, you can set it for a lower temperature and have it programmed to start heating the house a little bit before you come home. These are not too expensive and are easy to install and configure yourself.

7. Insulate your attic. Heat rises, right? If your attic is not properly insulated, all of the heat in your house goes right through the roof. This does require some effort on your part, but following through on this tip will save you a lot of money over the years. Measure the square footage of your attic and buy rolls of insulation. Wear a mask and gloves when working with insulation because it irritates the skin. Use this insulation calculator to see how much insulation you should have.

8. Find those leaks and cracks and fill them. If you were to add up all of the small cracks and holes in your house, they would probably add up to a small window, wide open, letting cold air in and hot air out. Take the time to find gaps in windows, doors, pipes, electrical and phone lines, your dryer duct and much more. Put weather striping around your doors and windows. You can buy insulation foam that comes in a can with a straw at the top that allows you to fill in tight spaces. It expands to fill even the smallest cracks.

9. Close the vents in rooms that you do not use. Be sure to shut the hot air ducts and made sure the windows and doors are properly sealed to limit energy leakage.

10. Open drapes and shades for all of your South facing windows during the day to let the sun heat your home. In the evening, pull them back down for added insulation. It is amazing how much direct sunlight streaming into your home helps to heat things up.

11. Your fireplace can help and hurt your heating costs. If you are not using your fireplace, make sure the damper is closed. When it is closed, inspect the damper and feel if cold air is still leaking in. If necessary, there are insulation panels that you can put in place when your fireplace is not in use.

12. Consider augmenting your existing heating with space heaters in the cooler rooms or add a wood stove. There are some very efficient stoves that can burn all types of alternative fuels such as grain, corn, wood pellets and other things not thought possible.

Taking the time to implement these tips will reduce your home heating bills. You can get most of them done in just one day, but the payoff will last for as long as you live there. I followed through on each one of these tips except the last one, I am still working on that. Follow these tips and start saving money on your heating costs.

Labels: heating, money saving tip

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Posted By: Joe on Saturday, March 15, 2008
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Posted By: Jim on Friday, March 14, 2008
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