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Black Belt Shopper
(featured column)

Larry Wiener - Senior Writer at BetterBudgeting.com

"Double Greening"

by Larry Wiener

 

Green is the word of the day.  Between concerns about gas prices and global warming, we’re all being urged to go green.  So how do black belt shoppers go green?  We all know the obvious ways of saving money on energy—cut down on lighting, heating, and gas.  Look for alternatives to using a car.  Click here for a good basic list on saving energy.  More...

Black belt shoppers can also do what I call "double greening" by making good use of the money they save—going green for the environment and using the money you save to cut your energy bills even more, you can both help the environment and help your bottom line.

Here are some suggestions on how to do that:

First, keep track of how much you save.

You can estimate how much you save by, say, using fluorescent bulbs instead of incandescent ones.  Some utility companies show comparisons between this year’s and last year’s energy usage.  Keep track of your savings.

Next, invest some of your savings in still more energy saving ideas.

If you have an refrigerator older than about ten years, putting some of the money you saved toward growing green toward a new one can make your house even more energy efficient.  As appliances wear out, replace them with energy-efficient ones.  Here are some tips on how to do that:

bulletLook for energy star appliances.  Energy star products are ones that have met strict efficiency standards for energy efficiency.  You can find out more about energy star products on the Energy Star web site.
bulletLook for rebatesMany times utility companies and stores will offer rebates for purchase of energy-efficient products.  Your local utility’s website can be a good source for such information.  Sometimes state and local governments offer rebates.
bulletStick with quality products.  Some products may be energy efficient, but their overall quality may be low.  Therefore, many of the money you save in energy use may be eaten up repairing or replacing these items.  Use sources such as Consumer Reports to identify quality products.
bulletDon’t go into debt to go green.  Rather than buying a whole new household of appliances, it makes more sense to replace appliances one at a time as they wear out.
bulletAvoid features that add complexity.  Do you really need an icemaker in your refrigerator?  Extra features add complexity, often use energy, and often shorten the life of an appliance or generate the need for more repairs.  Adding this complexity undoes much of the savings you get for going green.

And on another timely topic... tax rebates!

Many of us are going to be getting a check from the government in the next month or so.  Black Belt Shoppers know that anytime they get an extra influx of money, they will make good use of that money.

Of course the government wants you to spend that money.  That may or may not be a good idea for you.  If you’re in debt, paying down that debt may be the best use of the money.  If you don’t have an emergency fund or if yours is a bit anemic, consider building up that fund.  

If you do plan to spend it, spend it on something with lasting value. 

For more ideas, check out a prior column I wrote on the topic the last time the government sent out rebate checks.

*  *  *

Copyright © 2008 by Larry Wiener, author of The Black Belt Shopper's Guide. All rights reserved.

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