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Save Money on Your Electric Bill

  • Transcript

    LESLIE: Paul in New York, you’ve got The Money Pit. How can we help you today?

    PAUL: Someone had spoken to me about installing a capacitor on my electric box.

    TOM: Right.

    PAUL: And that would save me money on my utility bills. And they’re telling me that it would take wasted energy that comes from my motor and recycle it and therefore I would be saving money and I wanted to know what your thoughts are about that.

    TOM: I’ve seen some of those schemes. (chuckles)

    PAUL: OK, are they schemes?

    TOM: And I don’t know that they actually work. I will tell you if you want to save money on your energy bill, there are probably a lot more tried-and-true ways to do that.

    PAUL: OK, that’s good to hear.

    TOM: You know, Energy Star appliances, compact fluorescent light bulbs, more insulation. You know, there a lot easier ways to save money on your utility bills than to try some of these technologies which are just not yet proven.

    PAUL: OK, well I appreciate that.

    TOM: So I would stick with the basics.

    PAUL: OK, thank you very much, Tom.

    TOM: You’re very welcome and you know, on our website, we’ve got an article with ten free ways to save money on your electric bill. You might want to take a look at that at MoneyPit.com.

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