Are You Overpaying for Electricity Service?

KHOU, one of the local television stations here in Houston, ran a story earlier this week stressing the fact that consumers that don't shop around for electricity service end up paying much more than those that do. As electricity prices continue to fall, KHOU found that many people either don't know about the drops or just don't how to take advantage of them.

Electricity deregulation has allowed consumers to choose their electricity provider, which can be a double-edged sword. Those that are proactive with their electricity service can save on their bills, but those that aren't proactive could end up throwing lots of money away. In fact, a utility rate attorney quoted in the story estimated that Houstonians alone are overpaying billions of dollars on their electricity bills each year.

With summer and higher electricity usage just around the corner, this is the perfect time to take charge of your electricity bill. If you're ready to save, here's what you need to do:

• Figure out what you're paying now – Electricity bills can be pretty confusing, even for the most savvy consumer. Check out this primer to figure out what you're paying now.
• Compare your cost to the average for your city – To see how your bill stacks up with the average for your city, head on over to the WhiteFence Index. Even if you're under the average cost, chances are you could be saving even more.
• Compare your options – It used to be that to find the best deal on electricity service, you'd have to look up what providers serve your area and call each provider for rates. Now, when you enter your address on WhiteFence's electricity page, you'll get an easily compareable list of providers and plans in just seconds. As a bonus, when you shop with WhiteFence, you'll find exclusive rates and promotions. For details on how to compare all of your options, check out this guide.
• Order your new service – Electricity prices change every day, so if you find a great deal, make sure you order your service as soon as you've made a decision.

Getting Your Home Ready for Summer

Summer is almost here! Is your home ready? Below you will find 11 tips to get your home prepared for the summer season.

• Air Conditioner – Check to make sure your air conditioner is working. If it isn’t, it is best to get it fixed now when the temperature is not too hot.
• Air Filters – Replace old filters with new ones and make sure to change them out monthly.
• Drafts or Cracks – Seal any drafty doors or windows and cracks to keep the cool air in and the hot air out. This can save you money on your electric bill.
• Thermostat – It’s a good time to upgrade to a programmable thermostat. During the day when no one is home you can program your air conditioner to 78-80 degrees and then cooler in the evening when you and your family are home. This can also lower your electric bill.
• Hurricane Season – If you live in a hurricane area then you know summer is hurricane season. So make sure your hurricane kit is up to date.
• Pests – Insects and bugs will be attracted to the cool air in your home so seal any cracks and spray the perimeter of your home with insecticide.
• Windows – Install double pain windows or tinted to keep the heat out. Also keep your curtains closed and blinds drawn to keep the sunshine out.
• Watering the Lawn – To get the best bang for your buck water your lawn early in the morning or at night. If you have a sprinkler system make sure it works now so you’re not looking for a repair man during the summer season when they are in high demand.
• Pool – Stock up on pool supplies or schedule a pool maintenance company to come out regularly. Also set up a towel rack with clean dry towels by the back door to help keep wet children from running across your clean house.
• Pets – Make sure you have your pets on a monthly flea treatment. Also treat your lawn for fleas and other pests. If your pets spend time outside, have a big bowl of water for them that is not in direct sunlight and make sure your pet has a nice shady spot to relax.
• Summer Allergies – If you have allergies then you must dust frequently with a wet towel, regularly wash bedding and curtains, use air conditioning instead of opening windows, keep all tiled areas clean and free of mold and use a Hepa filter.

Don't get Fooled on Your Next Bill

Whether it is April Fool’s Day or not, no one like to get fooled when they open their monthly bills. Nothing can ruin my day more than when I open up a statement to find hidden fees, extra charges or that the interest rate on my credit card has gone up.

Here are a few things you can do to keep your monthly bills right on track:

• Read Your Mail – It is very important that you read all correspondence from your credit card companies, utility company, phone provider, Internet service provider, etc. I normally ignore that mail because I think they are trying to up sell me on services. Not so when I missed my electric company’s note that my contract had expired and they were changing me to a new plan that had a higher rate. That cost me a pretty penny until I changed plans. So very important to read your mail.


• Make a Call – Don’t be afraid to call your credit card company or service provider and talk to them about your higher interest rate or that extra service charge you see has popped up on your bill. My credit card company upped my interest rate one day and I simply called, explained I had been a loyal client for a few years and if they could lower it back to what it was. We reached a middle ground and they met me half way.


• Don’t be Late – This is so important I can’t stress it enough. Never pay your bills late! Doing so can get all kinds of late fees added to your account. Credit cards sometimes have clauses that if you’re late then they can raise your interest rate. So do what you can to pay early: mail it early, pay online or even in person.


• Keep Track of Automatic Debits – If you have something automatically charging to a credit card, then keep all those in mind. I had forgotten that I had my gym membership directly charged to my VISA. Well I closed that VISA card out and that caused my gym membership payment to not go through. Next thing I know I got a late balance on my gym and late fees. Also make sure that your card is not getting close to the limit and the automatic payments might push you over. You don’t want to get slapped with an over the limit fee. Been there, done that and OMG the money it cost me was insane.

Money Saving Stories

We’re a few years into this whole ‘global recession’ thing, and just about everyone I know still seems to be feeling the pinch. With that in mind, I thought maybe we could all help each other out by sharing some stories and tips about saving money. I’ll get us started.

My wife and have been doing all the small things like switching to compact fluorescent light bulbs and keeping our thermostat a few degrees higher in the summer and lower in the winter for a while now. While we knew these things were saving us money, they didn’t really have an obvious effect on our monthly expenses. They lacked the payoff of seeing more money in our pockets. However, when it came time to renew our television, Internet and home phone plans we decided to see if anyone was bundling in our area yet (they weren’t when we initially signed up) and found what we were looking for.

AT&T; had started to offer their U-verse bundles in our neighborhood and we made the switch. We not only ended up saving about $35 a month, but we actually came out with more channels, unlimited calling and faster Internet! While it might not be a huge sum of money, I really can see the effect of an extra $35 each month, and the upgraded services are just an awesome bonus.

So what have you done that saved you a lot of money recently? Let us know in the comments!

Decoding Bundled Services

I have always been a big fan of puzzles. Not the lame kind where you put together a picture of a fruit basket at your Aunt Betty's house because she doesn't have a color TV, but the kind of brain teasers that get you thinking or guessing. Except for Rubik's Cubes. I have always been bad at those, probably because I am not a super smart Rubik's Cube solving robot. But can't a man dream?

Even though many of us enjoy giving our minds a work out, I'm sure that like me, you don't appreciate it when ordering home services feels like a brain teaser. Knowing what you want and what you can afford isn't exactly easy to figure out, given the myriad of options available. What makes this even harder is that providers are often promoting bundles of high-speed Internet, TV or phone for one monthly price, but it's not always apparent if this is a good deal or not. Many providers advertise bundles as a way of saving money on your bills, but is that how it often works?

Fortunately, the answer is "yes".

6 Ways to Take a Green Spring Break

For many students and parents around the country, this week (or next, depending on where you live) is that lovely part of the year known as Spring Break. It's the time when people pack themselves in mini-vans or airplanes and go crash on beaches far and wide, all in anticipation of summer, which lies just around the corner. Or if you're a teacher like my wife, sleeping in and hanging out with friends. Either way, sign me up for one of those next year!

While Spring Break and vacations in general are often highlights of the year for those of us who need a reprieve from the real world, traveling can be an activity that turns ridiculously wasteful in terms of the environment. From the way we recycle, eat and relax, there are plenty of ways to make our down time more eco-friendly. Here are 6 ways to be green on Spring Break.

Saving Money on the Mortgage

The original title of this blog post was going to be about making "biweekly" or "bimonthly" mortgage payments, but since there seems to be confusion about which term is correct, I thought I'd go for something a bit simpler. Moving right along...

Paying the mortgage every month is always a stressful time around our household. Mainly because we are always trying to figure out whether we have enough money to put more down on the principle, so we can gradually shave off some of that lovely interest. However, a great money saving blog called The Simple Dollar offers a different solution that I took a liking to.

Save Big When You Avoid Common Rip-Offs

Money is tighter than ever for millions of Americans these days, and people are starting to rethink some of their spending habits and looking for ways to cut down on wasteful spending. With that in mind, BillShrink has come out with a list of 13 of the biggest rip-offs consumers commonly face.

Of course there are classics like movie theater popcorn and hotel mini-bars on the list, but there are also some more subtle choices. Here are a few of my favorites:

• Wine Service In Restaurants – Knowing that no one wants to order the cheapest bottle of wine on the menu, shrewd restaurant owners mark up the second-least expensive bottle.

• Actively Managed Investments – While mutual fund managers fail to beat the market 75 percent of the time, you have to pay their fees 100 percent of the time.

• Printer Inks – In some cases, it can actually be cheaper to buy a whole new printer than buy ink for your old one.

Check the article on BillShrink for the full list and let us know what you think the biggest rip-offs are in the comments.

Here’s my contribution: HDMI cables. Knowing that most people are not electronics experts, many stores mark up their HDMI cables over five times. In fact, it’s not unheard of for stores to make more money off the HDMI cable you buy with your new HDTV than the TV itself!

Save Wasted Energy with a Smart Power Strip

We’ve written about vampire energy before and recommended you upgrade to a smart power strip to fight the problem and increase your energy efficiency. TrickleStar has just released a new line of these green power strips, so I thought I’d take this opportunity to walk you through how they work.

Devices that you always want on, like your cable modem or phone, plug into special “always on” outlets. You pick one device that you want to function as the switch for the system, maybe your computer or TV, and plug that into the “control” outlet. All other devices get plugged into the remaining outlets. When you turn off the control device, the other devices are turned off and will no longer draw any current; it’s that just easy.

You might think that very little energy and money could be saved this way, but TrickleStar estimate that by using one TrickleStrip you can save up to $38 in electricity charges. Given that the TrickleStrips only cost a few dollars more than that, you’ll pay for the device in less than two years and then save on energy costs for years to come. In fact, they estimate that you could save over 300 dollars over the life of just one of the strips. That’s not a bad return for just swapping out a power strip.

TrickleStrips for PC and TV use are on sale now at the TrickleStar store.

Image via TrickleStar

Tax Credits for Energy Efficiency Home Improvements

It's tax time again! When you are filling out your returns (before April 15, 2010!), don't forget to claim any tax credits relation to energy efficiency home improvements you did in 2009.

For improvements made in 2009 and 2010, you can get an income tax credit of up to $1,500 for installing efficient new windows, insulation, doors, roofs, and heating and cooling equipment in your home. However, efficiency criteria will vary dependent on when these items are installed.

Not sure what counts and what doesn't? The Alliance to Save Energy offers a handy Guide to Energy-Efficiency Home and Vehicle Tax Credits.