Video Transcript:

This the season to be frugal. Others might say smart before your spare change. Jingles all the way out of your wallet this holiday you’ve got the money saving tips to make this season the season of savings. And here to help us is CNBC financial reporter Landon Doughty.

Hi Landon. Hi, All right. It’s a personal question? Or I’m just wondering I’m going to let you answer yes I know a little above all the best people at a little book.

OK well you don’t have to be Scrooge when it comes to saving and I know it’s a very stressful time of year and you’re strapped for cash but we’re going to walk you through this OK. I’m going to quiz you on how this on how the best ways to save on your expenses and you’re going to show the naughty side if you think it cost you more or the nice side if you think it’s the best way to save. Now we also sent this out to your audience.

They’ve answered these questions? We’re going to compare and see who’s a little savvy and what their savings account. I hope your shed. I hope so too. Okay. You ready. This is the first one. Your cable bill increased and you’re enticed by another cable companies cheaper offer. Would you switch cable providers is up a naughty move and would that cost you more money or would it be a nice move and help you save some cash.

Your audience guest nice. What do you think? I love my audience but I’m going to guess not go girl ok. These deals are very tempting but you also have to think about the installation fees. How long is the duration of that deal and you’ve also got all the extra cost when it comes to that. When it comes to this you want to negotiate negotiate negotiate.

You want to call and you want to ask for that lower rate. You’d be surprised a little sweet talking can get you a little bit sweeter deal really. I try this. I save twelve dollars a month. You know because you’re friends since they did not to be sweet. It’s right. It’s to be naughty. Like what come on right cable company. Yeah. Come on why OK.

So now we’re going to be nice also people are a little more giving it. All right what’s the next one. OK you ready so your electric bill is climbing and you want to go out and you want to buy a smart climate control system kind of like a nest or a Honeywell. So would you think upgrading the system is not a cost you more or save you and it’s nice.

Your audience says nice. I know. I think I agree with my audience on it. Gosh you’re really good. You don’t need. So many companies offer.

Smart devices that can help you save and you know when you do this. It regulates your heating and your cooling when you’re home or when you’re not home and it helps you save on your bill OK.

You can save up to one hundred forty five dollars a month on this. Well. Yellow good. Yeah obviously know this. OK. This is something that we can all relate to the grocery bills, All right. So you notice an unbeatable deal on your household’s favorite cereal in the supermarket and you’re tempted to race and get out and go get that deal is that naughty or is that nice. Wait there’s a deal on your on your cereal. Yes like. I do mornings i love cereal.

So there’s a deal on your cereal is it better to go ahead and stock up. You go ahead get 10 or do you just get what you need. I want to get 10 cereal I can hold. I don’t know, I can tell. What does the audience say. They said Nutty. Oh say not. No I say nice. I used to. I’m sorry. I can’t even read.

So I know deals are very tempting but you don’t want to go coupon crazy here. You think you’re saving by stocking up and having a lot of book but actually you don’t think about the expiration date. You don’t get 10 waist like the other four or five doesn’t expire like an a year kind of cereal you’re buying. oatmeal you know whatever. So you.

All right. We’ve got to leave it at that, We got to leave it, I’m not sure I feel like I got I I didn’t do very well but I learned I learned I know I’m going to Google that right after the show. Yeah. And it’s super easy.

He’s going to save himself two plugs and you’re good. AUDIENCE You are this. Thank you. Thank you.

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Some Frequently Asked Questions

Think about your own usage patterns. The EPA’s Energy Star program concluded that homes with programmable or smart thermostats can save up to $180 per year on heating and cooling, which is a sizable chunk of change. Still, those same savings can be achieved with a more affordable programmable thermostat.
It’s an interesting read, and the short of it is that they found a 10-12% savings on heating and 15% savings on cooling, or about $131-145 in savings a year. Every smart thermostat manufacturer is making similar claims: Nest forum users report $10-20 a month savings. ecobee claims an average savings of 23%
In summary. So remember these 3 things to help you save money on your heating and cooling bills: Don’t crank your thermostat up or down to heat or cool your home faster—it does not work. Don’t constantly change the thermostat setting when you’re home—it wastes money.
Smart thermostats, like other smart devices, allow you to remotely control your home’s temperature via mobile or internet-connected device. This unique capability makes operation more convenient, offering greater control of heating and cooling, and thus, energy savings.
In fact, there have been two more independent studies of Nest thermostat usage that found similar savings. Ecobee claims that their smart thermostat can save you up to 23% on your energy bills. Their claim is based on a household that leaves their current thermostat set to a constant temperature of 72F year round.
The colder the climate, the more you can save on energy by lowering the temperature during the day or at night. The higher your energy rates, the more you can save by using a smart thermostat because every percentage you save equals a larger amount of money.
The average manual thermostat 1 costs $25-$60, digital programmable thermostats 1 cost $90-$150, and electronic smart thermostats 1 cost $200-$300. Here are the five most common thermostat 1 brands: Honeywell: $175-$250.

According to Energy.gov, the better way to save money on heating bills is to set back the temperature of your home at least 8 degrees for 8 hours or longer (while you sleep). In fact, you can save 1% on your heating bill for every degree that you lower the thermostat.

When used correctly, programmable thermostats are touted as saving the homeowner 10-30% on their heating and cooling bills. From the EPA: “Consumers are often advised that installing a programmable thermostat can save them anywhere from 10 to 30% on the space heating and cooling portion of their energy bills.
In 1906, the Electric Heat Regulator Company, today known as Honeywell, introduced the very first programmable thermostat called the Jewell.

*The information above does not constitute legal advice or opinion, nor is it a substitute for the professional judgment of a qualified attorney.