Payday Loans, Energy Conservation, and Managing Your Debts

What you can do today to start saving money tomorrow

With the troubled economy everyone seems to be having their own little cash crisis. Debts that were manageable before have now become a challenge to keep out of default. Many have lost or are loosing there homes because of bad mortgages and experts are assuring us that before it gets better it will surely get worse, and more Americans are going out for payday loans these days.

There is no silver bullet to solve all these problems but we as individual consumers we can implement a few strategies to make each payday, a little more gratifying.

We tend to get complacent about saving money when the money is rolling in, but when it slows, or rising expenses such as gas consumes our buffer, we have to create our own. There are several things we can do to accomplish this. One of the best is by managing our energy consumption.

Get a programmable thermostat

Programmable thermostats will save you a considerable sum each month!

95% of home owners “Set and Forget” their home thermostats. The running temperature of your home should only be at comfort level during the hours in which you are there. Most working families with children will only need the temperature in their home to be at comfort level during specific times of the day. These hours are typically in the morning around 6am to 8am as the family wakes up and prepares themselves for the day and then again upon every ones return in the late afternoon to early evening hours. Usually these would be the hours of 3:30pm to 9pm. After 9pm people begin retiring under the covers and the temperature of the living space becomes of less concern.

So then, on average “comfort” hours sum up to a total of only seven and half hours in a twenty four hour period . Having the thermostat regulating your homes temperature from 70 to 73 degrees all day and night is a wasteful way to spend your financial resources. You can lower your temperature to between sixty and sixty eight degrees while you are away or sleeping.

To manage the temperature of your home effectively you will want to purchase a programmable thermostat. These types of thermostats will allow you to set different temperatures for different times and on different days depending on families personal schedule. Once programmed you can expect to save a considerable amount each month on your gas or electric bill. The cost of the thermostat will quickly be compensated for.

Using Energy Efficient Light Bulbs

Yes, we have all seen them but do they really work? The good news is YES they do! Energy efficient florescent light bulbs use two thirds less power than conventional bulbs and can last up to ten times longer. They are more expensive but the total savings per bulb can be $50 dollars a piece over the life of the bulb. Calculate these savings over your entire household and you’ll likely save thousands, and a few trips to the payday loans store.

Wrapping your water heater in insulation or a water heater blanket will help lower your utility bill.

Wrap Your Water Heater and Change Your Furnace Filter.

If you are not in the habit of changing your furnace filters, it may be costing you! Changing your furnace filters once a month allows proper air flow easing the workload on your furnace and allowing it to run in shorter intervals. Changing your filters in conjunction with wrapping your water heater with an insulation source can improve your homes energy efficiency by 20% alone.

Most water heaters reside in the colder basement areas of homes which require more energy, whether electricity or gas, to keep the water contained within them to the set desired temperature. By wrapping your water heater you prevent this cycle from occurring so often thus saving you a considerable amount on your energy bill.

You may want to check the temperature that you have your water heater set to as well. One hundred and thirty degrees is the standard for cleaning dishes, killing germs and keeping the bath water warm. You will want the temperature to be set as low as possible while still meeting your needs for comfort.

Tankless Water Heaters

Tankless water heaters save you money by heating your water on demand.

When then opportunity presents itself and you can afford it. A tankless water heater will save you even more each month as it does not need to regulate an ongoing temperature. Tank less water heaters actually heat the water on demand allowing for both a steady state temperature and a never ending supply of hot water.

These types of water heater are more efficient than storage tank water heater but they are also much more expensive and it may take a few years before your savings cancel out the original purchase cost.

Try these tips in energy conservation. They will save you money and help you to manage your debts. After all, couldn’t you use a few extra bucks at the end of the month, and not have to get payday loans?