Electricity

• To save as much as hundreds of dollars a year on electricity, make certain that any new appliances you purchase, especially air conditioners and furnaces, are energy-efficient. Information on the energy efficiency of major appliances is found on Energy Guide Labels required by federal law.

• Enrolling in load management programs and off-hour rate programs offered by your electric utility may save you up to $100 a year in electricity costs. Call your electric utility for information about these cost-saving programs.

• Go Solar!  In some states, there are incentive programs in place that allow you to recoup some or all of the cost of installing a residential solar system at your house.  Some utilities even let you sell surplus power back to them when your meter runs backwards!

Home Heating

• A home energy audit can identify ways to save up to hundreds of dollars a year on home heating (and air conditioning). Ask your electric or gas utility if they can do this audit for free or for a reasonable charge. If they cannot, ask them to refer you to a qualified professional.

• Web Resource: http://hes.lbl.gov/hes

• You can save several hundred dollars a year by purchasing auto insurance from a licensed, low-price insurer. Call your state insurance department for a publication showing typical prices charged by different companies. Then call at least four of the lowest-priced, licensed insurers to learn what they would charge you for the same coverage.

• Talk to your agent or insurer about raising your deductibles on collision and comprehensive coverage to at least $500 or, if you have an old car, dropping this coverage altogether. Taking these steps can save you hundreds of dollars a year.

• Make certain that your new policy is in effect before dropping your old one.

• Web Resources: http://www.naic.org/1regulator/usamap.htm or http://www.consumer.gov

Homeowner/Renter Insurance

• You can save several hundred dollars a year on homeowner insurance and up to $50 a year on renter insurance by purchasing insurance from a low-price, licensed insurer. Ask your state insurance department for a publication showing typical prices charged by different licensed companies. Then call at least four of the lowest priced insurers to learn what they would charge you. If such a publication is not available, it is even more important to call at least four insurers for price quotes.

• Make certain you purchase enough coverage to replace the house and its contents. "Replacement" on the house means rebuilding to its current condition.

• Make certain your new policy is in effect before dropping your old one.

• Web Resource: http://www.pueblo.gsa.gov/cic_text/housing/12ways/12ways.txt and http://www.fema.gov

Life Insurance

• If you want insurance protection only, and not a savings and investment product, buy a term life insurance policy.

• If you want to buy a whole life, universal life, or other cash value policy, plan to hold it for at least 15 years. Canceling these policies after only a few years can more than double your life insurance costs.

• Check the National Association of Insurance Commissioners website (www.naic.org/servlet/cis.Main) or your local library for information on the financial soundness of insurance companies.

• Web Resource: http://www.pueblo.gsa.gov/acli/index.htm