Cash or credit? Why or why not?

I’ll start: We don’t have credit cards, we don’t want credit cards, and, like Dave Ramsey, we think buying on credit is stuupiid (insert Dave Ramsey’s voice on that last word for the full effect!).

We stick to cash only for every purchase possible (yes, real dollar bills and coins, people! Remember what those are?), pay our bills with checks (though we’re looking into switching to online bill paying), and use our debit card only when necessary (online purchases, etc.).

And yes, I know we’re missing out on the free hats, umbrellas, T-shirts, and other cheap perks the credit card companies give out when you sign up. Um, ever wonder why they give out those freebies in the first place? It’s because most people will pay them back for at least 50 or 100 hats or umbrellas or T-shirts in the years to come. Sorry, but you can keep the “free” perks.

We’re also missing out on the higher cash-back percentages we could get by buying on credit. However, we decided to switch from a cash-only system to using our debit card almost exclusively for six months about two years ago. Guess what? We found that we spent a lot more money when we paid with a card. It was so easy to whip out and use. Pulling cash out of an envelope means we think a lot harder before we make the purchase. Do I really need this? Do I have the money for this? Can I buy it somewhere else for less money?

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1. Get a home energy audit every couple of years with your power company to find ways to cut costs.
2. Check with your utility company for rebates whenever you install energy-saving equipment.
3. Add more energy-efficient insulation to your attic, with the appropriate R-value, or resistance to heat flow, for your climate and the type of heating in your house..
4. Turn down your home thermostat two degrees and save 24 kilowatt hours a month. It might not sound like much, but it adds up.
5. Buy a programmable thermostat, especially if your home is vacant most of the day. Set it to turn on a half hour before anyone arrives home.
6. Adjust your thermostat to a comfortable temperature and wait. Turning your thermostat up or down dramatically wastes energy and increases your heating costs.
7. Lower your hot water thermostat 10 degrees, but no lower than 120 degrees. You’ll still get all the hot water you need and save 25 kilowatt hours a month.
8. Fix leaky faucets — one drip a second is 20 kilowatts a month.
9. Invest in weather-stripping kits if you’ve got drafty doors.
10. Trade your standard candescent bulbs for compact fluorescent bulbs. They are more energy-efficient, last for years instead of months, consume little power and generate little heat.
11. Turn off your computer when not in use, or use the energy-saving “sleep” mode.
12. Seal energy leaks. Caulk over cracks and small holes around windows and exterior walls. Look carefully around plumbing pipes, telephone wires, dryer vents, sink and bathtub drains and under countertops.
13. Participate in your power company’s special energy-saving program. Some programs shut down electric appliances for short bursts of time during peak hours. You hardly notice the difference — except in your bill.
14. Buy major appliances that sport the “Energy Star” sticker. That shows the appliance meets or exceeds standards set by the U.S. Department of Energy and the Environmental Protection Agency.
15. Consider a front-loading washing machine. They use 50 percent less energy and one-third less water. Plus, they remove far more water in the rinse cycle, and that translates into big savings in dryer time.
16. When building a home or replacing a roof, select a roof based more on energy efficiency than on how it looks. Light-colored roofs, such as white, galvanized metal or cement tile, do the best job of reflecting the sun, and cool quickly at night.
17. Landscaping with the right mix of trees and shrubs can lower your energy bills by blocking winter winds or the summer sun.

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Courtesy of Maggi Edgewater

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Find hand-me-overs - These are basically hand-me-downs, but I like to think of them more as hand-me-overs. Not everyone has two older siblings like me, so sometimes you have to get a little help from your friends. Talk to your friends and find out if they have anything they don’t need and save yourself some money on things like furniture, dishes, silverware, pots and pans, etc.

Read at the bookstore - Are you constantly buying books and magazines? Save some money by visiting your local bookstore and reading there. Many of them have comfortable sitting areas and some even have complimentary coffee. It’ll also give you a reason to get out of your apartment every once in a while.

Save the condiments - Grab some free ketchup, mustard, salt, pepper, and napkins from fast food restaurants and then you don’t have to buy them from the grocery store.

Eat late - Go to a restaurant near closing time. Instead of throwing out their leftover food, some places will offer it to you for free. This varies from place to place, so your mileage may vary.

Eat ramen again - Some of you probably just cringed. However, if you’re reading this, you’re probably a broke grad student like me and want to get to the point of ramen-free living. Ironically, eating more ramen now will help you get to that point faster.

Get free stuff - People are always giving away free stuff on college campuses. Of course, they’re usually trying to sell their product to you too, but that doesn’t mean you have to buy it. Just pick up some free pens, shirts, notebooks, etc. and now you have school supplies for the semester.

Stop driving - Start walking or riding your bike to school. Depending on your campus, this may or may not be feasible. With the rising price of gas, you’ll definitely save some money by limiting your driving. It’ll also help you keep in shape!

courtesy of Broke Grad Student

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Whatever your heating source, you can take some simple steps to keep your bill from burning a hole in your wallet this heating season.

Be a draft dodger
Drafty rooms are the enemy of a warm house.

One culprit: Your duct system. The consumer’s guide from the Department of Energy’s Office of Energy Efficiency and Renewable Energy, or EERE, says that unsealed ducts in your attics and crawl spaces lose air and uninsulated ducts lose heat. Both waste energy and money.

Get a professional to check your house for air leaks.

But if plopping down several hundred dollars to find some air leaks doesn’t sound like a fun way to save money on heating, you can accomplish roughly the same results with a little time and a box of incense sticks. Light an incense stick and walk through the house, moving the stick near spots where the walls meet your floors, windows, doors and the ceiling — preferably on a windy day.

Once you find the leaky culprit, seal it up with caulk, spackling compound or foam weatherstripping that you can buy from any hardware store. Within a year, it will pay for itself in savings.

Stopping a draft has more effect than any other home improvement when it comes to heating and cooling.

Ask for help
Once you have the drafts under control, you can turn to the utility company for some help keeping the sting out of your bill.

For example, Florida Power & Light offers a program known as “on call” which involves installation of a box on major appliances, such as the air conditioner, furnace or water heater. The box allows the company to switch the appliance off during times of high demand on its system and can save you anywhere from $10 to $63 a year, depending on what major appliance you choose to have cycled on and off. The company says it will only switch each appliance off for a maximum of 15 minutes at a time and rarely has to commandeer your heater.

Senior citizens, low-income and unemployed customers also may be able to get assistance from their state public service commission or the utility provider. In Michigan, for example, all state-regulated natural gas and electric utility companies offer assistance and/or shut-off protection programs to assist families in need. Low-income homeowners and renters may be eligible for the Michigan Home Heating Credit.

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