EPEFCU

Fall Projects: Tackle these Home Repairs for a Warm and Energy Efficient Winter

Before the cold sets in this winter you’ll want to make certain to tackle certain projects around your home, doing so will ensure your heating costs stay down this chilly, winter season.

Prepare your fireplace

Using your fireplace will not only keep you toasty, it’ll help keep your heating costs down as well but be sure to have it inspected at least once a year.

Most likely your fireplace hasn’t been used all summer which means you’ll want to sufficiently clean it out before you begin using it again. A chimney sweep can help you remove any soot or creosote that may be lingering inside your fireplace as well as inspect it while he’s there.

Protect your fireplace from outside elements. Purchase a protective cap with a screen for your chimney. This will help keep rain and snow from damaging the walls of your fireplace. According to thechimneysweep.com, rain coming down an open flue can mix with soot or creosote, causing unpleasant odors and deterioration of flue walls. This can also cause rust damage to your stovepipes, stove and even your furnace.

You’ll also want to inspect your fireplace damper in order to make sure it is opening and closing properly. Don’t forget to keep the damper closed when your chimney is not in use in order to keep the cold air from coming in.

Clean your Gutters

Clogged gutters can occur when debris such as leaves are left behind. By not cleaning your gutters, rain and melting snow can cause water to back up in the gutters, causing your roof to leak. Make sure to give your gutters a good rinse after removing any lingering debris such as leaves.  You’ll also want to ensure that your homes downspouts are carrying water away from the foundation of your house.

Check your Doors and Windows

If you live in an older home with single-pane glass windows, replacing all of your windows before the cold sets in may not fit into your budget. Work on replacing them a few at a time and in the meanwhile purchasing a window insulator kit can help keep the cold air out. A window insulator kit is essentially a plastic film that is adhered to your window’s interior. The plastic is shrink- wrapped to the window by applying heat and can easily be removed in the spring. Installing the kit is cheap and easy, and will serve as a buffer against cold drafts.

Old doors may also be allowing cold air to enter your home, forcing your heater to work harder. Purchasing door sweeps to keep cold air from coming in is a quick and inexpensive way to fix those drafts. According to the U.S. Department of Energy, drafts can waste 5% to 30% of your energy use.

Turn ON your Fan

Fans aren’t just for keeping cool. Did you know that reversing the direction of your fan can actually help push warm air downward? In the winter, reverse the motor and operate the ceiling fan at low speed in the clockwise direction. This produces a gentle updraft, which forces warm air near the ceiling down into the occupied space, according to energystar.gov.

Get started on these simple fixes to ensure that your home is prepared for the chilly climates this winter.

Taking a mid-year break-without breaking the bank.

A mid-year break provides the perfect opportunity to get away from the stress of your everyday life and  spend valuable time with your family. Even if you've saved up enough money to forgo a staycation this year, there are  several tips you can follow to save even more while your away.

Not only is taking a vacation enjoyable, it’s also good for your health. Did you know that the average person takes 12 days of vacation per year? In 2010, 65% of American employees failed to use their vacation time, according to the Bureau and Labor and Statistics. Traveling doesn’t have to mean accumulating debt, try these money saving suggestions for a guilt free vacation.  

As with anything else you spend money on, it’s important to create a budget. Begin by evaluating your finances and figuring out how much money you can comfortably afford to spend.

When booking your flight, take advantage of websites that allow you to compare prices from various airlines. Some sites allow you to bid for your room. Often times you can book a four star room at a price that you feel comfortable paying.

When searching for the best airfare deal, don’t rule out alternate airports. Secondary, smaller airports are usually cheaper to fly to, even after you factor in the cost of having to pay for transportation to your final destination.

Shop smart when looking for lodging. Check out online websites such as Expedia, Orbits and Travelocity for deals on hotels. Don’t neglect to check out the hotel websites themselves as they can sometimes offer a better rate. Remember that the time of year you choose to take your vacation will affect the cost of your stay. Booking during the hotel’s off-peak season will help you score a lower rate. Get the most out of your money by asking for a discount if you’ll be staying for more than seven nights.

Make sure to take advantage of hotels that offer free meals for kids if you’ll be traveling with your family. You can easily save $100 or more over the course of just one week.

Taking that much needed time away from your day to day routine doesn’t have to cost a fortune. Follow these simple money saving tips to enjoy your well deserved break without getting into debt.

Take Control of Your Cooling Bills

In case you haven’t noticed, it’s hot. El Paso has seen a record setting number of triple digit days and summer has only just begun which can mean bad news for our bank accounts.  The scorching temperatures mean our coolers have to work overtime, sending our electric bills soaring. We want to help keep your summer cooling bills under control, so we’ve put together a list of ways to keep cool without switching on the AC.

Grow a green thumb. According to the U.S. Department of Energy, smart landscaping can reduce air-conditioning bills by 15 to 50 percent. Leaves absorb some of the heat and cool the air as they release water vapor. Deciduous trees are an especially good choice because their leaves drop in fall, letting sunlight through in the cold months. Planting shrubs, bushes, and vines next to your house creates dead air spaces that insulate your home in both winter and summer.

Hang up your apron. Avoid turning on heat generating appliances such as the oven during the hottest part of the day. Warm spaces will make your AC work overtime. Also, limit your use of the dishwasher and clothes dryer during until later in the evening if possible.

Program your thermostat. It’s recommended that you set your thermostat at 78 degrees while at home, and raise the temperature to 80 while away. While you might want to turn your AC off all together when leaving the house, it is less efficient to cool your entire house again once it has warmed up. 

Change your light bulbs. According to the U.S Department of Energy, fluorescent lamps use 25%-35% of the energy used by incandescent lamps to provide the same amount of light and the energy from an incandescent bulb produces more heat. Make certain to also limit the amount of sunlight coming into your home. Purchase sun block window treatments to help keep the warmth of the sun from streaming into your home. To boost your savings, consider investing in energy efficient windows.

Use fans. Fans are underrated but can do wonders to decrease the temperature in a room. Using very little electricity, a fan can bring down the temperature an additional four to six degrees. Or, make one for yourself. This low-cost craft can help keep you cool during a summer barbecue.

Stay fresh this season knowing your summer cooling costs are under control.

 

 

How do you stay cool during these scorching summer month? Let us know, we’d be honored to read your comments!

 

 

Cheap Ways to Eat Organic

Choosing organic foods is not only the trendy thing to do- it’s the healthy thing to do, but eating healthy can come with a pretty hefty price tag. According to the New York Times, organic food can be anywhere from 20 to 100 percent more expensive than non-organic food. A single dollar can buy you 1,200 calories of harmful, processed food or a meager 250 calories of fruits, vegetables, whole grains, or organic meat. So how are we expected to eat healthy when we can’t afford to buy the foods that are good for us?

Growing your own organic garden is the easiest and cheapest way to eat healthy. Not only will you be saving money by growing your own food, you’ll also be improving your health by limiting the amount of toxins and chemical filled foods you’re putting into your body. 

Don’t have a backyard? Make use of your rooftop, balcony, fire escape or windowsill. There is no excuse as to why you can’t eat healthier without dipping into your piggy bank.

Before you begin, make sure you have the right tools. You’ll need gardening gloves, a trowel, pruning shears, a watering can,  a shovel, a spading fork, a rake, and a wheelbarrow. If you’ll be growing your garden at an apartment using a windowsill or other type of container you’ll only need the first four items.

Decide what to grow. Pick up seeds of some of your favorite fruits and vegetables at your local grocery store or home improvement store such as Wal-Mart and Lowe’s, or visit your local organic nursery. If you’d rather have a head start on your crops, you can purchase starter plants.  Are you going to be growing your garden indoors? Remember to keep in mind that certain plants don’t do well indoors.

Read the instructions. If this is your first time trying your hand at gardening, remember to pay close attention to the directions on the seed packages and the information tag. Here you can find what kind of care the plant needs, such as how much sunlight is required or specific instructions on how to plant the seeds. Some plants can handle direct sunlight while others will need to spend the majority of the day in the shade.

Maintain your garden the natural way. Weed problem? Try spreading mulch to discourage them or simply pull them out yourself. Remember to pull out the entire weed by the root. If you’ve noticed pesticides in your garden, use organic alternatives when attempting to get rid of them. Ladybugs for example will kill spider mites and aphids without hurting you, your plant or your pet. For more tips on how to control pesticides, log onto the internet, there are plenty of websites that offer ways to control weeds and pests naturally.

You’ll be enjoying organic fruits and vegetables from your own garden in no time, without breaking the bank.

 

Starting your own garden? Share your tips and favorite crops with us!

Staycations: How to Enjoy Your Summer Vacation at Home

With the recent surge of gas prices, the thought of taking your vehicle out on the road for a long summer getaway might make you want to rethink the idea. So how do you have that fantastic summer vacation without the high price tag? Vacation at home- with the right plan you and your family can have a fabulous summer vacation that won’t cost you an arm and a leg. A home-based vacation can save you loads of money on transportation costs and lodging while expanding on the smart management decisions you’d make when traveling.  

If history is an indicator, American consumers haven't seen average gas prices rise this close to the $4 mark since 2008, the year some travel experts called "Staycation Summer."

Remember that a staycation will only fulfill your much needed vacation needs if it’s treated as a true vacation, not a cheap alternative. As your staycation approaches, make certain to make all necessary preparations just as you would if you were leaving on a trip this way you’re not stuck doing chores and paying bills while on vacation.

Get a hold of some local travel guides-many communities offer vacation style activities. There may be a variety of activities you’ve never gotten around to doing or just didn’t know existed. In El Paso for instance, we’re just a short drive (approx. 2 hours) to Elephant Butte Lake where you and your family can enjoy camping, boating, water skiing, swimming, fishing, hiking and bird watching. Once you have an idea of where you’d like to go, plan out your itinerary just as you would on any other destination getaway. Make sure your plans get you out of the house-everyday.  

Set a budget-remember that the point of a staycation is to save money, so you’ll want to spend less than what you would have if you’d gone out of town, but more than what you’d normally spend on entertainment. This is your vacation after all!

Go on a chore strike. Most people don’t normally clean out their closets, make their beds or organize the garage while on their vacation, and you shouldn’t either. Take a break, hang up your chore hat for the next week and let yourself relax, after all, this is your vacation.

These days, American have been conditioned to think that taking a vacation means getting out of town. Vacation is a mindset, what we look forward to the most when taking a vacation is spending more time with our family, and getting a break from our busy work week and let’s face it, you can do both at home. And when you finish the summer without a mountain of vacation debt you’ll be able to start saving for a destination vacation next year. Need some help? Open up a Vacation Club Account now through July 31^st and start saving for that perfect getaway today!

 

 

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Got Gas? (The car kind not the bodily nosie kind.)

Watching the numbers steadily rising as you dreadfully pour gasoline into your vehicle can be heartbreaking for anybody. But unless you hang up your keys and opt for public transportation or buy an electric vehicle, gas is a necessity and there isn’t much we can do about the price. When and if prices begin to fall is anyone’s guess, in the mean time we’ve got a few tips that will help you cut the cost of fuel consumption.

Stop the road rage. Driving like a crazy person and overexerting your engine is a great way to burn extra fuel. Also, avoid revving your engine as this too can cause you to waste fuel, and let’s face it, nobody likes a show-off. Instead, accelerate lightly and keep your speed at the posted speed limit because the faster you’re driving the more gas you’re wasting. According to Shell’s website, speed, rapid acceleration and braking can lower your gasoline mileage by 5 percent at lower speeds around town and 33 percent at highway speeds.

Shop around. As with anything else, finding the cheapest place to purchase gas could save you money at the pump. Check out applications such as Cheap Gas! for your iPhone. The app will help you find the cheapest gasoline nearest to where you are and then map a route to where the cheap gas is. In addition to phone applications, you can take advantage of discount programs at stores such as Wal-Mart. If you purchase gasoline at a Wal-Mart station using a Wal-Mart gift card, they’ll knock 3 cents off your purchase, now while this might not seem like much of a savings, every penny counts in the long run.

Don’t neglect your vehicle. Maintaining your vehicle and making certain that it is running properly is a sure way to save at the pump. Regular tune-ups and routine maintenance will ensure that your engine burns less fuel. Also, avoid carrying extra junk in your trunk. Only carry what you need to increase fuel efficiency.

Check the air in your tires. Maintaining proper air pressure can reduce the amount of fuel your vehicle uses while driving. Keeping the proper amount of pressure in your tires can boost your gasoline mileage by at least 3 percent, according to Shell.

Put your top on. Sure you might look sexy as your hair flows in the wind on a cool summer night, but driving with your top and windows up will minimize air drag, saving you gas.

While we can’t control the price of gasoline, we can control our driving habits. Follow these simple tips and make your wallet a little happier this summer.

 

Do you have some tips to share about how to save money on gas? Let us know! We’d love to read your comments.

Save Big on Groceries

It’s easy to spend much more than you anticipated while shopping for groceries, especially is you’re shopping on an empty stomach. But with the price of gasoline through the roof, savvy shoppers everywhere are looking for ways to cut back at the register. With a little leg work, we’ll show you how to keep the cost of food down.

Create a budget. It’s important to know exactly how much money you can and are willing to spend on food for that particular pay period or month.

Start by making a list of one to two weeks worth of groceries and stick to it. Don’t be influenced by sales, just because it’s half off doesn’t mean you need it. Straying from your list will only hurt your efforts to save. Going into the store without a plan is a guaranteed way to forget crucial items as well as buy things you don’t need.

Eat before you shop. Shopping on an empty stomach will most likely result in the addition of junk-food and other unnecessary items in your grocery cart. Avoid letting hunger pangs dictate what goes into your shopping cart.

Shop on Sunday’s. With a fresh batch of the day’s coupons from your paper and weekly sales circular, you could save some serious cash. Shopping for items at an already discounted price can be reduced even more if you’ve got a coupon. Don’t forget to search online for printable coupons. The internet has revolutionized couponing. When you find a coupon you like, simply print it and take it with you on your next grocery store visit.  According to a Consumer Reports survey, consumers who combined coupons with marked down items saved an average of $678 a year.

Compare prices. Some items such as deli meats are sold in various places throughout the grocery store. You can pick them up at the deli counter, or in your grocer’s refrigerated section. In some cases, the price may be cheaper in one section than the other.

Buy generic over national brands. According to a story published by the Wall Street Journal, many store labels are produced by the same manufacturers that make the brands you know and love. Chances are you won’t notice the difference in taste, but you’ll definitely notice the difference in price. Brand named items typically cost $1 more than their generic equivalents due to higher marketing and packaging costs.

Buy in bulk. Invest in a membership at stores such as Sam’s and Costco’s. The trick to buying in bulk is to purchase non-perishable items. The last thing you need is a stock pile of expired food.

Pay close attention to the price scanner and always double check your receipt. According to a survey conducted by Consumer Reports, 6% of respondents were overcharged at the grocery store check-out. Some grocery chains will even let you have the item for free if it is scanned incorrectly, but it’s up to you to catch the error.

Eat your leftovers. There’s no better way to throw your hard-earned money down the drain then to toss your leftovers. Bagging them up for lunch the next day will save you from spending the $5-$10 you would have spent eating out, and in most cases your sack lunch is probably healthier than anything you could grab at a fast-food place.

 

How do you save at the grocery store? Share your tips with us in the comments section! We’d be honored to read them!

Coupon-Clipping…is it worth it?

You’ve seen them, we all have. You know the type—you’re in line at the grocery store and somehow you manage to get stuck behind the person who clips coupons, for everything. Have you ever wondered how much money they really save? Well so have we, which is why we decided to do a little investigating of our own and find out once and for all if savvy, coupon-clipping shopping is worth it.

When shopping for savings it’s important to avoid clipping coupons for products you wouldn’t normally use, regardless of what you think you’ll be saving. Don’t let coupons entice you to buy things you don’t really need. Create a shopping list before heading out to the store and look for coupons for only those items.

And so began the hunt for coupons. We opted for the easy…er…smart route, and browsed for coupons online rather than wait for this week’s grocery mailers to arrive. Through our investigation we stumbled upon Printable-Coupons.Blogspot.com and found coupons for products people actually need ($1.50 off three Caffeine Free Diet Coke 12 Packs!) Now, a lot of these coupons require that you register with your name, email address, etc. however once that’s complete you’ll be able to print your coupon and voila, instant savings! We’ll definitely be back for more.

During our search, we also came across the website TheCouponClippers.com. This site lets you perform a search of the items on your list, then lets you order coupons for each of those items. On this site you do have to pay for each coupon (10-15 cents per coupon) but the savings makes it worth it in the long run.  

Coupons.com is another site worth bookmarking. This site is perhaps the easiest and the fastest to use. They offer a wide range of discounts on grocery store items you buy everyday. The site is easy to navigate, so finding what you need is a breeze! You can also enter your zip code for area-specific bargains.

Just remember, like with anything else it’s important to be cautious about giving away too much personal information. If you’re required to register on a website so that you can receive email offers, then your email address is the only information you should be giving away. Also, make sure that you periodically check the site’s privacy policy as it may change from day to day.

Coupon-clipping requires some legwork, but the savings are well worth the time spent searching for them. Still, some stores refuse to take online coupons or cap the number that customers can use, while manufacturers often limit the number of coupons you can print for a certain item, so make sure to check with the store of your choice before making any purchases.

 

Have you ever shopped using coupns? How much did you save and was it worth your time? Share your stories with us! We'd be honored to read your comments!

Planning a Summer Vacation? Start Saving Now!

While your summer vacation may not rank high on your financial list of to-do’s, planning early can help you save a significant amount of money in the long run. We understand that it may be hard to think about your tropical island get-away in the middle of winter, but January is the perfect time to start budgeting for you summer vacation.

Decide where you want to go and how you plan to get there.  

•         Once you and your family decide on where you’ll spend those glorious vacation days this summer, it’s important to create a budget that will help you save money towards the cost of your trip. Remember that a vacation doesn’t have to equal debt! Start planning now and pay for your trip in cash rather than relying on high interest credit cards.

•         Before you can begin to save, you’ll want to open up a designated savings account that will separate your vacation fund from the rest of your finances, such as the Vacation Club Account offered at El Paso Employees FCU. Watching your vacation account grow will encourage you to stick to your goal and keep you from using the funds towards other splurges.

Do your homework. Once you’ve decided on where you want to go, begin looking into where you’ll stay during the duration of your trip. Check out online websites such as Expedia, Orbitz and Travelocity for deals on hotels. But don’t neglect to check out the hotel websites themselves as they can sometimes offer a better rate. Remember that the time of year you choose to take your vacation will affect the cost of your stay. Booking during the hotel’s off-peak season will help you score a lower rate. Get the most out of your money by asking for a discount if you’ll be staying for more than seven nights.

•         If you’re planning on taking a cruise, booking your reservations early will guarantee you a spot on the cruise ship. You might also be eligible for early booking discounts.

Decide how you’ll reach your destination. Will you be driving or flying to your destination? Just like you should consider booking your hotel early in advance, you might also want to consider buying plane tickets early as well. Doing so might let you avoid any spike in prices due to the increase in flying during the summer months.

•         Remember to consider how many people are flying or driving on this trip as well as if there will be pets accompanying you. For larger families toting their pets along, it may be cheaper to rent a van and plan a road trip rather than purchasing plane tickets for you, your children and Fido.

Don’t let your post-holiday-debt-blues keep you from planning your summer vacation early this year. Plan to pay for your next trip in cash and avoid the stress of the post-vacation debt! 

 

What tips would suggest when saving for your summer vacation? Share with us! We'd be honored to read your comments!



Commonly Missed Taxed Deductions You Need to Know About

 The New Year means that the tax season will be upon us before we know it. Most of us will probably put off preparing our tax return until the very last minute because lets face it, preparing taxes can be tedious. When you finally do begin to prepare for this years dreadful tax day however, there are a few deductions you’ll need to keep in mind in order to ensure that you’re not paying more than your fair share to Uncle Sam.  

Did you spend some time looking for a job? If so, the expenses you incurred are deductible even if you didn’t land that job. Expenses such as fees paid to employment agencies or resume writing services are all included under expenses you can deduct.

If you’ve already paid off your mortgage, a new law that took into effect into 2008 will greatly benefit you. Now, you can write off your property tax, even if you don’t itemize deductions by increasing your standardized deduction by the amount of real property tax you could have claimed if you did itemize, up to $500 or $1000 on a joint return.

Most us know that charitable cash donations are deductible, but what about noncash contributions? You are permitted to deduct any charges you’ve made on your credit card for the purpose of charity in the year it was charged. Make certain however that you have proof of your purchase by asking the charity for any necessary receipts you’ll need to keep in the event of an audit. If you’ve donated clothing or any other items to organizations such as Goodwill, make sure you receive a written receipt for your records and remember that items must be considered in “good” condition or better. If you’ve volunteered for any charities, you are also permitted to deduct any mileage use while volunteering.

Still paying off those student loans? Any interest accrued on them is tax deductible as long as the loan is still currently owned by the lender.

Many insurance premiums, including long term care premiums based on age are potentially deductible. In order to qualify for this particular deduction, medical expenses must exceed 7.5% of your adjusted gross income (AIG).

Also, don’t forget to track any business expenses that you accrue throughout the year as these are also tax deductible. And whether you plan to prepare your taxes on your own or with the help of a professional, tax preparer costs are also deductible. Expenses such as tax preparation fees and even the portion of your legal and accounting fees related to tax planning are deductible if their total exceeds 2% of your adjusted gross income.

Tax preparation is never fun. Resolve to get a head start this year and keep these commonly forgotten deductions in mind so that come tax time, you can rest assured that you’ll be taking advantage of the deductions you’re entitled to. Remember,  as always each individual's circumstances can be different. Consult your tax advisor regarding questions and deductibility of interest.

Did you know that you can receive a discount on the Turbo Tax Federal Deluxe software just by being a member at El Paso Employees FCU? Visit our website and click on the Turbo Tax link to find out how!