Steve-O's Savings Page

Steve-O is not an alter ego of PMW's. He's a friend of mine who made the mistake one day of asking "on your website are you going to have things like you should turn your water off while you are brushing your teeth or turn the lights off when you leave a room?" I smiled and said, "I am now and I'm naming it after you and you so get it started!"

So this page is dedicated to those tips that again, we all know but we need to be reminded of them. If you have any tips, articles, or other ideas e-mail them to me or to steve@professormoneywise.com and see if they make "his" cut.  

Steve-O Says:  For central air conditioning systems, keep the fan switch on your thermostat in the "auto" position when cooling. This gives you better cooling and humidity control. Having the fan switch "on" continuously could cost $25 extra a month on your electric bill. And remember to clean or change your filters monthly. Dirty filters can increase operating costs by 20 percent. Don't block registers and return vents with furniture or drapes.    

Steve-O Says - Tips for Saving Money on Groceries 

• Plan all of your meals in advance. Get started by making a chart with four columns at the top for breakfast, lunch, dinner and snacks. Then list out along the side of the chart the number of days you want to plan. I try to do one week at a time, but I know some more ambitious families who do a whole month. If you have some picky eaters in the house, have them help with the planning to make sure you are making foods they like.
• Make your grocery list from your plan and shop with your list. Try to avoid buying anything that is not on your list, unless it is something on sale that you can stock up on.
• If you have the room, stock up on sale goods for non perishable purchases on items you normally buy. It is hard to beat the rate of return you can get on some of the sales the grocery stores have to entice you to do your shopping with them.

 Steve-O Says:  In the past months gasoline prices have dropped 56%, from an average price of $4.11 to $1.80 a gallon. Somehow, you found the money to pay the higher price and survive so now you should take that excess money you are saving and bank it.

Steve-O Says: My Dad was always saying "turn off those lights if you're not using them or close that door are you trying to heat/cool the outdoors?" and you know what he was right. Little things like that can save you money and who doesn't like saving money??

Steve-O Says: When not in use, turn off those lights. A single 100-watt bulb uses $1.65 worth of electricity each month. If you leave many lights on for long periods of time, the cost adds up quickly.

Steve-O Says: Compact Fluorescent Light Bulbs (CFL's) use up to 75% less energy than incandescent light bulbs and last up to 10 times longer.

Steve-O Says: Turn off the faucet while brushing teeth, shaving, etc... Take showers instead of baths. A full tub requires about 70 gallons of water. A 5 minute shower uses from 10 to 25 gallons of water. Most people don't realize that the cost of hot water is about 25 percent of their energy bill. Shortening showers from 10 minutes to 5 minutes can save about $5 per month.

Steve-O Says: Do you leave your computer on continuously? Computers use relatively little power, but you can save several dollars a month by turning off your computer and related equipment when not in use. Also, small appliances should be unplugged. An appliance plugged into the wall draws a small electric current, even if it is not in use. (Thanks Jeff M.)

Steve-O Says:  Do you have an extra refrigerator or freezer that is really not needed? Older models can cost between $10 and $20 per month to operate. The cost is significantly higher if the refrigerator or freezer is in a garage or shed.

Steve-O Says:  Don't act like you have never seen the contents of your refrigerator before and in doing so let all the cold air escape.  The refrigerator has to work all the harder and longer to re-cool and that means more electricity/money.  One suggestion for the kids is to have them imagine the fridge is full of ping pong balls and tell them to not let the ping pong balls all out.  Maybe this vision will get them to open it, get what they want, and get it shut again.  And, just maybe, this vision will work on the adults as well.  (Thanks Dean J.)

Steve-O Says:  Whether you drive an economy car or an SUV, there are plenty of ways to improve your gas mileage. Avoid aggressive driving and observe the speed limit. Speeding, fast acceleration, and hard braking wastes gas. Lighten your load by clearing your car of extra weight, and remove roof racks or carriers if not used frequently. Keep current with car maintenance—clean air filters can improve gas mileage by as much as 10%. Properly inflated and aligned tires will improve gas mileage by 3%. Using the wrong grade of oil can reduce mileage by 1% to 2%. For longer-term savings, consider a high-mileage vehicle for your next purchase. See http://www.fueleconomy.gov/ for more on buying a fuel-efficient car or truck. Check out Driving and Car Maintenance for more tips.

Steve-O Says:  Dialing back your thermostat a single degree cooler for an eight-hour period each day during the winter heating season can slash your bill by up to 5%, depending on the climate, according to the Alliance to Save Energy. Use a programmable thermostat to control your inside temp that way and save an average of $180 a year.