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Household energy bills have been surging, making it more expensive than ever to heat, cool and electrify your home. If you’re still using older, less energy-efficient appliances or reside in a less energy-efficient home, now may be an ideal time to upgrade. Doing so will not only significantly reduce your utility bills, it will also likely increase your property value and enhance your quality of life.
 
When considering more energy-efficient appliances, start with your home’s greatest energy-guzzlers. Heating and cooling appliances are by far the biggest energy-users in a home, typically comprising 40-50% of monthly energy use. Water heaters (gas or electric) consume about 14% of a home’s energy, closely followed by the washer/dryer at 13% and lighting at 12%. Your numbers may vary depending on the age and condition of your appliances and your energy consumption habits.
 
Whether considering a new furnace or heater, air conditioning unit, water heater or other major appliance, keep the following in mind:
 

• Choose the right-sized appliance – A furnace or water heater too small for your home will need to run more often, potentially consuming more energy and shortening its lifespan. Appliances too large for a home are a waste of money, as they’ll be more expensive. Work with a trustworthy appliance dealer to ensure you get an appliance right for your home and needs.
• Look for the labels – The U.S. government requires major appliances to be affixed with labels indicating their energy efficiency. The ENERGY STAR label (blue with white lettering) helps you identify the most efficient products. The EnergyGuide label (yellow with black lettering) helps you compare the estimated energy use and yearly operating cost of a particular appliance. To find rebates and special offers in your area on ENERGY STAR-certified products, check here.
• Check what reviewers say – Not all appliances are created equal. A cheaper appliance won’t be of much help to you if it prematurely conks out, requiring repair or replacement. Before deciding on a particular appliance, see what others say about that particular brand or model.
• See if a cheaper power source is available – Generally, natural gas is a less-expensive energy option than electricity. If you’re not using a natural gas appliance already, such as a water heater, clothes dryer or stove, check if such service is available in your home, and whether it makes financial sense for you to pursue.
• Check for energy company rebates – Many energy companies offer their customers rebates on the purchase of a new, more energy-efficient appliance. Some even offer to cover the costs of your old appliance’s removal! Find out what financial incentives may be available in your area by checking with your local energy company.

 
Energy-efficiency upgrades in your home can take many forms. If your local energy company offers a low-cost or no-cost “home energy audit,” start with that. Your audit results will let you know if and how your home is less energy-efficient, such as if you have leaky doors or windows, or insufficient insulation in your attic.
 
Consider the following home energy improvements:
 

• Efficient windows and doors – Newer windows and doors are made of materials that reduce air leaks and reduce heat exchange, so you won’t need as much energy to heat or cool a space.
• Better insulation – With more insulation in your attic and walls, you’ll keep warm air from escaping in the winter, and hot air out in the summer.
• A “smart” thermostat – A “smart” thermostat is a wi-fi enabled device that controls home heating and cooling settings by learning your temperature preferences and automatically adjusting them to energy-saving temperatures.
• LED light bulbs – An LED light bulb with the ENERGY STAR label uses up to 90% less energy than an incandescent light bulb, with the same illumination.

 
If you’re interested in upgrading to more energy efficient appliances for your home, take a look at our home equity loan options or our Visa® Rewards Plus credit card to see how we can help.

As you may have noticed when buying anything lately, America is experiencing significant inflation – the highest in 40 years, according to economists. What really is inflation? How did we get to this point? What’s being done about it? And most importantly, what can you do to reduce the effect of inflation on your personal budget?
 
Inflation is the rate of increase in prices over a given period of time. For 28 years, from 1992 to 2020, the U.S. inflation rate never exceeded 4.0% annually; in fact, inflation was greater than 3.0% just six times during this time. That changed in 2021, when the U.S. inflation rate hit 4.70%, then went up even more in 2022, at an annual rate of 7.7% (as of October 2022).
 
Unfortunately, inflation can rapidly erode your purchasing power. For example, a one pound loaf of white bread that cost $0.86 in 1997 now costs $1.81 as of October 2022, a 110% increase, due to the purchase power-sapping effect of inflation.
 
How did we get historically higher inflation in 2021 and 2022? Most economists attribute the root causes of our current high inflation to the classic reason of “too many dollars chasing too few goods.” As America emerged from the COVID-19 pandemic, a rapid increase in household demand for many items, coupled with supply chain shortages and shipping delays, rapidly pushed prices up. Anyone who’s made a major purchase during this time, such as of a new or used car, new furniture or a vacation, has experienced this reality firsthand.
 
Since inflation took off, the Federal Reserve has been trying to “pump the brakes” on inflation by rapidly increasing interest rates. The Federal Funds Rate, the interest rate that banks and other depository institutions lend money to each other, has been increased five times in 2022, by three percentage points, to try to reduce America’s high inflation rate.
 
While it’s good to know what the Federal Reserve is doing to try to tame inflation, you still need to cope with higher-priced gas, food, clothing and other items. What can you do to handle inflation?
 

• Reduce your expenses – Common items that could be cut or reduced in cost include print and electronic subscriptions, cell phone and internet service and home and automobile insurance. See if you can find better pricing on all of these expenses. Our partnership with Mylo is a great place to start when reviewing all of your insurance options.
• Invest in yourself – If you’re feeling stuck in a lower-paying job and have interest and aptitude in a better-paying career, take classes to earn a degree or certification that qualifies you for a new job. Prospective employers think highly of those who have worked hard to advance their skills and knowledge.
• Continue saving and investing – Don’t let high inflation deter you from your long-term financial goals, like setting money aside for an emergency or to fund a future major expense, like college or retirement. Advancial offers several different savings options to fit your specific needs. Take a look and see which options would be most beneficial to you.

It might be tough to recall, but when you were younger, you were almost always in need of someone else’s help. The person you are today is the result of a lot of people – family, friends, teachers, neighbors and more – who’ve helped you along the way.
 
Everyone could use a helping hand at some point (or many) in their lives. Maybe it’s a parent who is busy taking care of work or a younger sibling who could use your help in the kitchen. Or perhaps elderly neighbors who would appreciate you weeding their garden. It could even be someone you just met, like a busy checkout clerk who might instantly brighten up after hearing your helpful, encouraging words.
 
No matter how or who you help, know that even seemingly small acts of assistance can instantly make a positive difference to someone else. It can also provide several benefits to you.
 
For example, researchers have found that helping others makes us happier. In a five-year study of 2,000 people, those who said they’re “very happy” volunteered at least 5.8 hours a month. When we help others, studies show our brains release hormones that boost our moods and reduce stress hormones.
 
Among teens, one study found that those who help others did better in subjects like reading, math and science, and are more likely to finish high school. Colleges and scholarship selection committees love to see applications from students who’ve volunteered to help others.
 
Helping others can also boost your job-hunting success. Job applicants who listed volunteer service on their resume increased their chances of getting a job by 27%, according to a national study.
 
To help you decide how to help, ask yourself:
 

• What am I most interested in? The more interested you are in the help you’re providing, the more likely it’ll be enjoyable for all.
• Who would I like to help? For example, you might prefer helping kids, such as those in youth sports.
• What knowledge or skills can I offer? If you have specific skills, like knowing how to fix things, that may be a specific helping opportunity.
• How much time do I have? Even a couple of hours of help may prove immensely beneficial to someone in need.
• What are my goals? Helping others should be a two-way street, potentially allowing you to learn new things and even meet new people!

 
As a Dinero member, know you’re part of an organization that is wholly supportive of your efforts to help others. Each Advancial employee receives 16 hours of paid time annually to provide volunteer help in their communities, so don’t be surprised when you’re out helping others if you meet someone from Advancial doing the same thing!

Wouldn’t it be great to see around corners, like some of the action heroes in the movies, to know if anything dangerous is coming your way? Of course, that’s impossible in real life. But you can do the next best thing and help ensure you’re protected against danger before it comes your way.
 
That’s the concept behind several safeguards designed to protect your online presence from all the “baddies” out there trying to do harmful things like steal your identity, damage your reputation, drain your financial accounts and much, much more. Deciding whether to use such safeguards really comes down to this: Are you willing to leave yourself vulnerable to those who work 24/7 to take you down and profit off of you? Or are you willing to do what it takes to help prevent that from happening?
 
If you want to enhance the protection of your online presence, do these five things:
 

1. Lock down your smartphone – Use a unique passcode to lock your smartphone and never share it with anyone else except a trusted parent or guardian. If your smartphone allows a biometric lock – voice, fingerprint, facial or iris scan – you should also consider taking advantage of this high-level security feature.
2. Use passwords unique to you, or a password manager – Pick passwords unique to you that no one, not even your friends, could ever guess. Change them regularly – every six to 12 months. Or, subscribe to a free or low-annual-cost password manager, which will act as a storehouse for all of your passwords and accessible solely to you through a “master” password.
3. Mark your social media profiles as “private” – Unless you specifically block off your social media profiles as “private,” anyone can access them and copy (or screen-grab) your information and/or photos – items you may not want anyone else to see. Don’t just settle for a social media provider’s “default” setting; double-check it to be sure you are protected.
4. Don’t post inappropriate material, comments or photos of yourself or others – Something posted online that might seem funny, clever or cool now may not be tomorrow or even years from now. Don’t post something about yourself or others that might prove personally embarrassing or damaging, or potentially harm your future college admission or job chances.
5. Don’t leave your devices lying around or loan them to others – Whether you have a smartphone, tablet, laptop or some combination, your personal online devices are a part of you. If you leave any device lying around, like at school, home or a coffee shop, it’s potentially accessible to anyone, especially if your device password is weak. And if you give your device to someone else after you’ve unlocked it, you should hope this person is trustworthy – or be prepared for the potential consequences.

 
For more information about protecting your online presence, visit the federal government’s Cybersecurity & Infrastructure Security Agency.

There’s an age-old saying: “Take care of your money so that your money can take care of you.” What it means is that if you’re careful with your money now – saving it as much as you can and limiting your expenses – you’ll likely have more money for yourself in the future.
 
When you were younger, someone may have bought you a piggy bank to keep in your bedroom to help you save your coins and bills. You may even still have it! But now that you’re older and potentially have more money coming in through a job, gifts or allowance, it’s smart to save your money somewhere that actually pays you for safeguarding your cash.
 
A great place to start and keep saving your money is with Advancial, through our Dinero Teens Program. Advancial created the Dinero Teens Program specifically to help teens like you get a great head-start on becoming financially independent AND learning valuable information on how to be a good steward of your money.
 
Think of all of the great benefits you enjoy as a part of Dinero, including:
 

• A competitive Dinero savings account – Teens can open this account with as little as $5 and start earning dividends on account balances of $100 or more. And, unlike with similar accounts offered by banks, there’s no monthly service charge! By regularly putting your money here, your funds can quickly add up!
• A special Dinero checking account – Designed specifically for teens, Dinero checking offers a free debit/ATM card, debit card rewards and unlimited free ATM withdrawals – all without a monthly service fee!
• A Dinero Visa® credit card – Our Dinero Visa credit card is the ideal “first” credit card for teens because there is no annual fee, it offers rewards points on all purchases and it features a low interest rate on monthly balances. It’s available to Dinero members age 16 or older with a qualified co-borrower.
• A great Dinero starter certificate – Interested in earning a dividend rate that’s greater than a savings account? With a Dinero starter certificate, in exchange for just $250 or more, you’ll earn a higher dividend rate, plus be able to withdraw your funds after just one year without penalty.
• The Carl R. Young Memorial Scholarships – Are you a high school senior, or a junior who’s planning on graduating early, and planning to attend college? If so, you should apply for our $2,500 Carl R. Young Memorial Scholarships awarded each year. Named in honor of a longtime Advancial board member and volunteer, these scholarships are open to Dinero members.

 
To learn more about any of the high-quality Dinero financial tools designed just for teens, visit us here.