Doc Eifrig: One of your biggest expenses could soon skyrocket 24%

From Dr. David Eifrig, MD, MBA, editor, Retirement Millionaire:

Your utility bills could soon skyrocket nearly 24%…

According to the Energy Information Administration (EIA) – a government agency that gathers energy statistics, 90% of American households are seeing bills significantly rise due to the record cold temperatures in the U.S.

But you can take a few simple steps to offset increasing energy demands.

Installing a programmable thermostat can save the average household $2,100 a year. You can set a lower temperature while you’re asleep and at work – when you don’t need the thermostat to be set on a high temperature.

You can also simply lower your thermostat a couple degrees. For every 24 hours the temperature is lowered one degree, you can save 2%.

My assistant Laura recently installed a programmable thermostat in her own home to offset some of the higher expense due to the cold winter. She has the thermostat set at 62 degrees while no one’s home.

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