Phil's Personal Finance Tip of the Day:
6 Ways to Save on Home Energy in the Heat of Summer
By Money Crashers | U.S.News & World Report LP – Wed, Jul 25, 2012 12:04 PM EDT
David Bakke lives in Atlanta and frequently experiments with various ways to save money at home. He shares his tips and insights on the finance blog, MoneyCrashers.com.
Summer is upon us, and while I'm sure we all hope for mild weather, chances are that your home energy costs may be rising--especially if you live in an area of the country affected by the recent heat wave. However, it's always a great idea to save money any way you can. So even if your energy costs aren't skyrocketing, consider the following ideas to make your electric bills more manageable this summer:
1. Adjust the Thermostat
Air conditioning costs a fortune, and if it runs around the clock, you can surely expect a huge bill. To reduce the expense, gradually raise the temperature of your thermostat by at least three degrees. Doing so will save you approximately 20 percent on your summer electric bills.
2. Request a Home Energy Audit
Many power companies can come to your home and perform a home energy audit for free. Providers have to borrow power from other companies at peak usage times in order to meet demands, which cost them a lot of money. Therefore, they have just as much motivation as you do to save energy at home. The audit typically takes about an hour, and the tips and advice provided can help you save a significant amount.
3. Switch Providers
If the power industry has been deregulated in your state, you have options of where to purchase your electricity. Therefore, check out the competition. Review your bill and find out what you're paying per kilowatt-hour, and see if you can find a better rate. However, be sure to look for any extra charges or hidden fees before you make the switch.
To read the entire article from David Bakke(Moneywatchers):
http://finance.yahoo.com/news/6-ways-save-home-energy-132949061.html
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