It has been autumn for over two weeks and I still can't tell if it feels more like Spring (with this abhorrent rain), Summer (with this random Vegas heat) or Fall (with the gold medley of leaves changing and fluttering to the ground). Regardless of what it feels like, winter is just around the corner. What does winter mean for homeowner's and renter's alike? That if you're not prepared, money is going to be seeping out of the leaks in your windows and doors faster than gas out of grandpa.
It is to be expected that your gas or electric (whichever your residence uses for heating) bill will go up from October through February. When you're budgeting, keep this in mind. Your bills go up, but that doesn't mean your income goes up. And the 3 ways to have more money:
1.) Make more
2.) Spend less
3.) Pay less taxes
This is a good example where spending less could come into play.
1.) CEILING
Did you know that the ceiling is one of the most common places for heat to escape from a home? Have you ever noticed when you have snow on your roof, there are areas where there is no snow? That's not from the sun picking and choosing where it wants to melt the snow, that's a weakness in your insulation in the ceiling. Quick Fix - Pinpoint the area, examine it from the inside, insulate accordingly. If this doesn't fix the issue moving forward, there may be an issue with the lining under your shingles. This fix will also help in the summer with keeping cool air inside, although it is much harder to diagnose in the summer.
2.) Plumbing
Most people aren't even aware of the type of energy that is lost in their plumbing. The winter is another good time to diagnose this issue. If you notice a "sweating" or beady moisture on the outside of your pipes, you may be losing energy, which is the same as losing money. The condensation is caused by a large difference in the temperature between the inside (liquid traveling through the pipe) and outside (air) of the pipe. This is similar to the effect of warm cocoa on a cold winter day and the steam you see. The difference is the pipe contains the steam and it leaks through to cause an outside moisture. Quick Fix - Examine your exposed plumbing, dry it off, measure the pipe, purchase a pipe insulator and attach accordingly. ***I say exposed plumbing because I DO NOT suggest you start breaking down drywall to try and save a few bucks, through energy lost on pipes.
3.) Windows
Windows are one of the biggest expenses in your home and rightfully so. They are decorative, keep heat in during winter, heat out during summer and allow a nice breeze to flow through during spring and fall. I know someone that has a 1,600 square foot home, with pretty standard windows that cost around $15,000 to replace them all. If you own your home, this may not be a bad idea, chances are if you're renting, it would NOT be a good investment. If you are renting, buy a window insulation kit from Wal-Mart or Target. They run about $16 for a 62" by 210" covering that is VERY easy to install. Another good window investment are thick, dark curtains. They are both decorative and efficient. During winter time you will want to keep them open during the day to let in natural sunlight while closing them at night to keep in the heat you've generated.
4.) Blankets
This is a good time to invest in some super soft blankets. Instead of GOING to a movie, spending $10/ticket, $10 on popcorn, $20 on soda pops, rent a movie from RedBox and stay home. Save Money, Get some Family Time and cuddling is the cheapest way to keep warm!
It looks like we're at 457 views so thanks again everybody and I hope these tips are helping you out.
This weeks lead pipe lock is Dallas covering the 5.5 point spread. Also, you'll want to bet the over in the New England/New Orleans game.
Don't forget, if you want a free financial analysis of your current situation, email me at davids@eqfin.com. I will identify your weak points, where you can save more and everything is COMPLETELY CONFIDENTIAL.
See you all next week!
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