GROTHE

Finanicial News: 17 ways to save on energy

1.	Get a home energy audit every couple of years with your power company to find ways to cut costs.
2.	Check with your utility company for rebates whenever you install energy-saving equipment.
3.	Add more energy-efficient insulation to your attic, preferably with a resistance rating of R-21 to R-30.
4.	Turn down your home thermostat two degrees and save 24 kilowatt hours a month. It might not sound like much, but it adds up.
5.	Buy a programmable thermostat, especially if your home is vacant most of the day. Set it to turn on a half hour before anyone arrives home.
6.	Adjust your thermostat to a comfortable temperature and wait. Turning your thermostat up or down dramatically wastes energy and increases your heating costs.

7.	Lower your hot water thermostat 10 degrees, but no lower than 120 degrees. You'll still get all the hot water you need and save 25 kilowatt hours a month.
8.	Fix leaky faucets -- one drip a second is 20 kilowatts a month.
9.	Invest in weather-stripping kits if you've got drafty doors.
10.	Trade your standard candescent bulbs for compact fluorescent bulbs. They are more energy-efficient, last for years instead of months, consume little power and generate little heat.
11.	Turn off your computer when not in use, or use the energy-saving "sleep" mode.
12.	Seal energy leaks. Caulk over cracks and small holes around windows and exterior walls. Look carefully around plumbing pipes, telephone wires, dryer vents, sink and bathtub drains and under countertops.
13.	Participate in your power company's special energy-saving program. Some programs shut down electric appliances for short bursts of time during peak hours. You hardly notice the difference -- except in your bill.
14.	Buy major appliances that sport the "Energy Star" sticker. That shows the appliance meets or exceeds standards set by the U.S. Department of Energy and the Environmental Protection Agency.
15.	Consider a front-loading washing machine. They use 50 percent less energy and one-third less water. Plus, they remove far more water in the rinse cycle, and that translates into big savings in dryer time.
16.	When building a home or replacing a roof, select a roof based more on energy efficiency than on how it looks. Light-colored roofs, such as white, galvanized metal or cement tile, do the best job of reflecting the sun, and cool quickly at night.
17.	Landscaping with the right mix of trees and shrubs can lower your energy bills by blocking winter winds or the summer sun.

Copyright Bankrate News

Financial empowerment workshop in African American community

Melody Moore

Black Enterprise magazine launched the Black Wealth Initiative to financially educate the African American community.

As part of the initiative, magazine representatives are touring the nation conducting a two-hour presentation, which recently made a stop in Detroit.

The magazine partnered with AXA Advisors, a financial advising company, in its efforts to teach wise financial practices to consumers. Topics included how to increase their wealth and begin to work toward estate and planning, investing in a 401(k) and homeownership.

Earl Graves is founder of Black Enterprise. His son, John, president and COO of Graves Ventures, LLC, said many African Americans do not invest money or leave an inheritance to their children.

"In most cases first generation parents will expose their children to savings and investing," Graves said.

He added that there is a need for more education in Black community regarding saving and investing.

"Commercials about saving and investing are not broadcast during African American shows. We believe we should spend, spend, spend," Graves said.

According to reports, African American consumers spend more money on clothes, jewelry and cars instead of building their wealth. Last year, African American consumers spent more than $300 billion.

The Black Wealth Initiative and the Wealth Building Kit encourage people to use home-ownership to build wealth, to save and invest 10 to 15 percent of after-tax income and commit to a retirement planning and investing program.

The initiative also encourages consumers to have and stick to a budget, measure personal wealth by net worth, not income, be proactive on investing, educate their children about money management, and support other Black-owned businesses.

The last step is for African Americans to pass their wealth on to future generations in their family.

Graves said that African Americans are not being compensated financially as other races and that affects the amount they have to invest.

"There's still a gap between compensation in salary and we need to close that gap," Graves said. "We have a generation of African Americans who will never retire until they die because they cannot afford to," Graves said.

Those interested in the Wealth Building Kit can download it from www.blackenterprise.com.

Copyright © 2005 Michigan Chronicle Publishing Company, Inc.

Image courtesy of Library of Congress, Photographs Division