Protect Your Pipes
Depending on the region of the United States you’re in, you’ll need to protect your pipes from bursting this winter.
Depending on the region of the United States you’re in, you’ll need to protect your pipes from bursting this winter.
Weather stripping or installing storm doors and windows will prevent cold air from entering your home or heat from escaping it, which will reduce your power bills. Door sweeps are also an effective and easy way to keep the cold out.
Animal nests or creosote buildup in your fireplace can be hazardous. Have an annual inspection before building your first fire of the season. Also, soot and other debris build up in the chimney. Call a chimney sweep to thoroughly clean the chimney before your first winter use. You should also vacuum or sweep out any accumulated ash from the firebox.
Cleaning your gutters is an important part of winter prep. A good rule of thumb is to have the gutters cleaned as soon as the last leaves have fallen in the autumn. To prevent clogging, inspect and clean the gutters of leaves and other debris. Clean gutters will also allow melting snow to drain properly.
If you want to avoid gutter cleanings, consider gutter guards. They can be made of stainless steel or polyvinyl chloride (PVC) and will help keep out leaves, pine needles, roof sand grit and other debris from your gutter. They need to be occasionally brushed off to ensure the guards work to their maximum effectiveness, but it’s not as strenuous as routine cleanings.
Caulk around windows and use foam outlet protectors to prevent cold air from entering your home. However, the majority of heat loss typically occurs via openings in the attic. Check to make sure that you have enough insulation.
In the winter, the Department of Energy suggests keeping the thermostat at 68 degrees Fahrenheit when you’re at home. Lower the thermostat a few degrees while you’re away or sleeping. Switching your thermostat out for a programmable version is a good idea. It’ll let you customize your heating so the system doesn’t run when you don’t need it, keeping your home comfortable and bills down.
Install a Programmable Thermostat
You’ll need to bring plants and flowering trees inside before the first cold snap. Typically, you should bring your plants in before temperatures dip below 45 degrees Fahrenheit.
Cold temperatures, snow and ice can damage outdoor furniture and grills. If possible, store them in the garage or basement. If you have a gas grill with a propane tank, close the tank valve and disconnect the tank first. It must be stored outside. If you don’t have storage space for your items, purchase covers to protect them from the elements. You also need to maintain your grill and cover it before putting it away for the season.
Outdoor power tools, such as mowers and string trimmers, need to be cleaned and maintained prior to storing. If you have a snow blower, it’s time to inspect it before the first snowfall to ensure it’s working properly.
Call your local power company to see if they conduct energy saving assessments. It’s often a free service where a representative will identify specific changes to make your home more energy efficient and save you money. In addition to the suggestions above, LED light bulbs and water heater blankets can also make a difference.
Your furnace will function more efficiently with a clean filter. A dirty filter with trapped lint, pollen, dust, etc., obstructs airflow and makes your furnace run longer to heat your home. Replace filters at least every three months.
Snow, rain, ice and wind can make it challenging for your home to withstand winter’s wrath. Of particular concern should be your roof. You can get a head start on winterizing your roof with a few key steps.
To help keep chilly air from leaking in through window cracks, swap out the lightweight summer curtains with thermal lined curtains or drapes. They’ll help keep your home warm and lower your heating bill. For the windows that don’t get direct sunlight, keep the curtains or drapes closed to keep the cold air out and the warm air in.
Don’t wait for the next big winter storm. Depending on where you live, there are certain staples that are good to stock up on ahead of time.
Written by Chasity Rodriguez
Social Media Director
Even if unemployment benefits can cover bills right now, workers should prepare to make changes to their budget and their lifestyle.
MORE THAN 36 MILLION Americans have filed for unemployment benefits since mid-March. While the government is providing a $600 per week boost to the benefits of eligible workers, that extra money only lasts until July 31. Plus, it may not be enough to bridge the gap for some workers.
Workers should prepare to make changes to their budget and their lifestyle. People want to create a semblance of normality, but there is so much uncertainty.
No one knows how long the COVID-19 pandemic will last or when we will return to previous levels. People should be careful not to wait until their financial situation becomes precarious before taking action. Instead, know how to do the following in order to stretch your unemployment benefits:
“Take a deep breath and look at what (you) have,” says Jeff Corliss, managing director and partner at advisory firm RDM Financial Group. He advises people to list all their assets first so they have a full picture of their financial status. Understand how much the budget needs to be adjusted.
Before you start making changes, add up your normal expenses and subtract them from your unemployment benefits and other income available. If you have a shortage, that will need to be made up by money from savings or cuts to your budget.
“When evaluating your budget, review the transactions on your bank statement,” says Brandon Tucker, a certified financial planner and manager of financial planning at eMoney Advisor. “If your recurring expenses are automated, it can be difficult to remember where your dollars are being spent, so it’s a good idea to look at each line item on your statement.”
Then, decide what you can do without. “You really want to be in a cash conservation mode,” says Dan Keady, chief financial planning strategist at financial services firm TIAA. Again, you don’t want to wait until you are in financial crisis to make changes.
Eliminating subscriptions to streaming services and limiting takeout meals are both easy ways to cut monthly costs. Many mortgage companies and landlords are being flexible right now, so call to inquire into whether reduced or delayed payments might be an option as well. Also call your auto insurance company to see if cheaper coverage might be available now that you are no longer commuting.
Health insurance is the one expense you don’t want to cut. Getting sick without having medical coverage could be financially devastating and compound the problems caused by unemployment.
After adjusting your budget, you may want to look at how you can bring in some extra money until you are called back to the workplace. However, tread cautiously here since earning too much could make you ineligible for unemployment benefits.
“You really need to find out what your state allows,” Keady says. Some states limit people to a specific amount of earnings while others also limit the number of days a person can work. A few states have both requirements. For instance, in New York, unemployed workers can receive partial benefits so long as they work fewer than four days and earn no more than $504 in a week.
Assuming you are able to work, picking up temporary side jobs may be a simple way to supplement. Instacart, Shipt and DoorDash are all delivery services that may need an influx of workers during the pandemic. Selling items on online marketplaces such as Etsy may also be an option.
“If they can, (workers) should try to rebuild their skills,” Wilson says. Some community colleges are offering free classes to unemployed or underemployed workers. Courses through websites such as Skillshare or LinkedIn Learning may also be a source for online training.
While it may be tempting to go into debt to cover bills, it can make financial recovery for your family even more difficult. “Being unemployed is temporary, but high interest credit card debt is not,” Tucker says.
The CARES Act gives workers another way to access needed money. Under the law, those affected by the coronavirus can withdraw up to $100,000 from an IRA or 401(k) account in 2020. The money won’t be charged a 10% early withdrawal penalty, although funds from traditional accounts are subject to regular income tax. Those taxes can be paid off over a three-year period. The money can also be returned to a retirement account within three years of the distribution and not apply to annual contribution limits.
“That’s one of the last resorts I would use,” Corliss says. “You could blow up your retirement if you’re not thoughtful.”
If you do decide to dip into your retirement funds, make sure it isn’t simply delaying the inevitable. For example, don’t use money from a retirement account to make mortgage payments on a house you won’t be able to afford in the long term. If you don’t anticipate your income rebounding to a level at which it can support your lifestyle, it’s better to downsize sooner rather than later. Otherwise, you could end up losing not only the house, but your retirement fund as well.
Corliss remains optimistic about the future for American workers. He says, “It may hurt for a bit, but we’re going to get through this.”