With today’s economy, we have to be even more aware of our everyday spending habits, even though we wish we didn’t have to pay attention to them!
Who would have ever thought that we would need to be aware of the energy draining habits we have been doing for years? This new change is as bad as quitting a bad habit such as smoking or being a shopaholic!
How are we going to remember to turn the television off, turn the lights out when leaving a room and unplug electronics each night? When we get the utility bill, I’m sure that will be a huge reminder…ouch! This may mean we are unable to buy that newest designer handbag…torture!
Other things that will help save money would be to replace your old doors and windows with new energy-efficient ones. But you say “Wouldn’t that be too expensive?” The government is now offering tax credits of up to 30% or $1500 for installing these. There are a few other good reasons for doing this. First, you’ll receive a tax credit from the government, while enjoying immediate significant savings each month on your energy bill. Not too shabby for a one time investment. You won’t get any returns for last years’ outdated shoe collection!
Paying the window company to install these energy saving windows and doors will help the economy by keeping people working! Keep in mind these windows must need to have a U-factor rating of .30 or lower for maximum efficiency and to be qualified for the credit.
Another energy saving strategy that will earn tax credits is new home insulation and roofing. Air conditioners, boilers and furnaces can meet the energy guidelines if they were installed no earlier than 2009. Solar water heaters qualify if half the energy generated comes from the sun. The solar water heater must be certified by the Solar Rating and Certification Corporation (SRCC). The water from these solar water heaters must be used in the dwelling and not for swimming pools or hot tubs. I wish they would revise those qualifications!
Letting go of that gas guzzling Hummer might be a little hard to do, especially trading it in for a Hybrid car or SUV! You may have to think about the space and the power you lost when you start driving your Hybrid, but you’ll have quite a bit more money in your wallet for…well, paying down credit cards? This would be the smartest thing to do the savings; not too exciting, but smart!
Earn from $250 to $3150 with a tax credit from Hybrid purchases made after December 31, 2006 and on or before December 31, 2010. The tax credit amount depends on the fuel economy and the weight of the vehicle. This will be phased out from each manufacturer after they have sold 60,000 qualified vehicles and will be gradually reduced after that over the course of another year. Note: even if you buy a gas or diesel powered vehicle, certain models will be eligible for a tax credit.
Remember the good ol’ days when we could drive around in muscle cars and fill up on $20.00? Well maybe you don’t, but with this new economy and implementing new energy saving strategies, we will learn to enjoy the more basic things in life. There’s a good possibility we will see people coming together. We might be coming together at the newest thrift shop!
Verona Raymond knows helpful money saving strategies for today’s economy. For more helpful tips and valuable e-book,Visit www.strategiestosavemoneynow.com!
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