We recently discussed the large bite that dining out can take from your budget but it doesn’t stop there. Oh no, not even close. Take a look at the following budget busters and think about changing them too. 1. Smoking: Coffin nails cost the serious smoker about $1,600 yearly. Not to mention turning your lungs the consistency of the track at Daytona after a long day of racing. If you want to ever be taken seriously as a thinking human being, give up this habit. 2. Drop the pop: We talked about this one already. Daily liquid sugar overdoses are about as good for your immune system as smoking is for your lungs. Have you noticed how expensive pop drinks are at your favorite fast food franchise? 3. Lattes: This fancy caffeine injections costs about $4. Is this a good business decision for the young wealth builder? We say no. 4. Turn off electronics: Ignore the computer geeks. It saves noticeable money to switch off the gadgets before going to bed or when you’re gone. Opt for energy star models when you can. 5. Television: Do you really watch all those extra channels in the nose bleed subscription and, if so, should you? Go with the basic package or, better yet, none at all. Crack a book and find some real entertainment. Seriously, you won’t die if the television is off. That’s probably about all the budget busting a person can be expected to handle in one sitting but we’re not done yet. Come back tomorrow, if you dare, for five more habits that are killing your budget. The Young Wealth Team

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Save Energy to Save Money

Jason Hartman knows the importance of saving money and reducing the energy bill is part of that. Here are some tips to save energy to save money.

Watch the Thermostat

Avoiding the habit of cranking the air conditioner or heater to max production can save quite a bit of money on the energy bill. Set the thermostat to 65-70 degrees or lower during the winter and 75-80 degrees or higher during the summer. It’s also possible to use windows to your benefit to keep it warmer or cooler. For instance, open the shudders or blinds in the daytime during the winter to let heat in from the sun, and close them at night to keep heat in. In the summer, reverse the routine for the opposite effect.

Turn Off the Lights

Probably one of the simplest ways to keep the energy bill down is by turning off the lights when you leave a room or the house. The new generation of energy efficient bulbs are another avenue to explore when lights need to be on.

Be Efficient with Appliances

There are a number of ways to become more efficient with appliances to save energy. Here are some strategies to use appliances more efficiently:

  • Set your fridge in between 38-42 degrees Fahrenheit.
  • Set your freezer between 0-5 degrees Fahrenheit.
  • When baking, be sure not to look inside the oven more than necessary.
  • Clean the lint

    filter in the dryer and use the moisture sensor setting when appropriate.

  • When washing the dishes, use short cycles and allow dishes to air dry.
  • By using appliances more efficiently, it’s possible to make the appliance work more preferably.

Remember to Unplug

One of the top ways to save energy is by unplugging certain electronics and appliances. Seldom used things like old or unused refrigerators can be unplugged, along with chargers which aren’t currently charging anything. It’s also important to use power strips, they can prevent high energy consumption in entertainment centers or large desk setups. To conserve money with a power strip, try shutting it off with the power button when nothing is being used.

Let Computers Hibernate

If you’re not a fan of shutting the computer off when you’re done with it, why not let it go to sleep, or hibernate? To do this, enable the sleep mode on the computer or laptop so it uses less energy when it’s not being used. A hibernate mode can be used similarly, simply set the computer to go into “hibernate” mode after 30 minutes or so of not being used to conserve energy.

The bottom line is that you can, through smarter choices, reduce your energy bill without adopting an Amish lifestyle. What should you do with all that money you save? Why not put it to work creating wealth with Jason Hartman’s income property investment strategies? (Top Image: Flickr | FollowTheseInstructions)

The Young Wealth Team


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