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Everyday Money Management

Managing your money can sometimes feel like a full time job. When you’re trying to balance your personal finances with your busy life, it can be stressful. Consolidated Credit Counseling Services of Canada, Inc.offers tips and tricks to successful money management. Our articles and downloadable books provide easy-to-use strategies for spending and saving your money.

Save Energy, Save Money

Did you know that the average Canadian family in Ontario spends close to $2250 a year on hydro bills? That’s according to the Ministry of Energy in Ontario.

Following are tips for cutting energy costs in your home. With changes, you may be able to save a little money, or perhaps even cut your energy costs in half! Best of all, many of the tips in this booklet won’t cost you a penny.

If you have a family, energy conservation can be a great family project, offering you a terrific opportunity to teach your kids about budgeting and the wise use of natural resources. You can even turn it into a contest and try to get your family to cut energy costs by a certain amount for several months. The savings can go toward a family outing or purchase. Get creative!

Heating and Cooling Your Home accounts for about 60% of the average energy costs per household. The Ontario Ministry of Energy provides the following tips for conserving energy from heating and cooling your home.

  • To save money on heating costs, reduce the temperature of your home a few degrees at night and when you’re away.

  • Keep blinds, shades and drapes closed during the hottest part of the day in the summer. (And open south-facing blinds on sunny winter days!)

  • Use area rugs on cold floors – if your feet are cold, your body will feel cold.

  • If you feel cool, put on a sweater rather than simply turning up the thermostat.

  • Clean or replace the air filter on your furnace every month to improve efficiency.

  • To save more on central AC costs, try cooling your home to only 24 or 25 °C instead of the low 20’s. Each degree below 26 °C will noticeably increase your electricity use!

  • Turn off unnecessary lights in the house (they produce a lot of heat which works against the AC.)

  • Conservation can be as easy as planting a tree. Plant leafy (deciduous) trees on the sunny side of your house. During the summer they provide shade, and in the winter they will shed their leaves to let the warming sunshine through. Pine or fir trees on the north side provide an energy-saving windbreak.

Don’t Forget: If you have a fireplace, make sure the damper is kept closed when it’s not in use.

Time It Right:

Get a thermostat that you can program to adjust the temperature at certain times when your need for heating or cooling isn’t as great. For example, if you are at work during the day, you can set the daytime temperature higher (in the summer) and cooler (in the winter). Same thing goes at night when you are sleeping. (Just don’t program large changes in the temperature or the system will have to work too hard to get the temperature up or down at those times.) Also be sure to keep lamps and other heat producing appliances away from the thermostat, or it will result in a misreading of the air temperature.

Get Sneaky:

Try adjusting your regular home temperature by a degree up or down (depending on the weather) until you get used to the new warmer or cooler air. Then try another degree the following week, and so on, until you’re really uncomfortable.


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