Is The Department Of Energy Coming For The Fridge?
The Department of Energy unveiled regulations targeting home and commercial appliances this year, 2024, which will impact millions of Americans.
The Department of Energy (DOE) finalized new energy efficiency standards for residential refrigerators and freezers and proposed standards for commercial fans and blowers. DOE’s standards for refrigerators and freezers. You will have some time. Not much time, as they want it to start between 2029 and 2030,
Folks In Washington Now Targeting Other Appliances
The U.S. Department of Energy (DOE) has two energy-efficiency actions that will save American households and businesses allegedly $5 billion per year on their utility bills, cutting energy waste and harmful carbon pollution.
The final standards for residential refrigerators and freezers. These updated standards are expected to reduce nearly 420 million metric tons of dangerous carbon dioxide emissions cumulatively over 30 years.
What’s The Cliff Notes Version On Refrigerator Hate
Most refrigerators in the U.S. are still cooled by hydrofluorocarbons, which climate watchers say cause “super pollutants.”
Folks are instructed to look for “HFC-free” refrigerators. Nearly all refrigerators in the United States today use chemical refrigerants, which are some of the most potent greenhouse gases on the planet. Yet, many manufacturers now offer new models with an alternative refrigerant with little to no climate impact.
What’s The Average Cost Of A New Fridge?
Refrigerators can cost anywhere from $500 to $12,000, depending on your chosen brands and styles. However, you can find mid-range models that fit most homes for $1,500 or less.
I checked out my local appliance location to find some from $1,599.00 and Up.
Simple Habits of Millionaires, According to Experts
They Buy Their Cars (Instead of Leasing) and Keep Them As Long As Possible
Cars lose their value quickly. That’s why buying a used car is usually much less expensive than a new car. The second that car is off the lot, it’s considered used and drops in value thousands, even with just another mile on the car. That said, according to CNBC.com, wealthy people buy, don’t lease, their cars and keep them long-term. That way, they can save money between car purchases.
They Buy Their Cars and Keep Them
They Delay the Pleasure of Having the Finer Things in Life
According to RamseySolutions.com, “Millionaires spend most of their lives sacrificing temporary pleasures for long-term success. They have no problem buying an older used car, living in a modest neighborhood, and wearing inexpensive clothes. They don’t care about keeping up with the Joneses.” So, instead of picking up all the hot, expensive new stuff, wait it out.
They Delay Pleasure
They Educate Themselves on Money
If you’re a newbie to financial planning, listen to some podcasts on the subject or find a helpful book. Finance.yahoo.com says, “knowing how to become a millionaire isn’t innate, even for most wealthy people.” Research from certified financial planner and CPA Tom Corley shows that “63 percent of wealthy people listen to audio books during their commute to work versus 5 percent of poor people,” says Finance.yahoo.com.
They Educate Themselves on Money
They Network and Meet New People
In the same Finance.yahoo.com story, Corley says that networking is huge when it comes to becoming a millionaire. “On his Rich Habits blog, Corley revealed 79 percent of wealthy individuals network at least five hours per month, compared with only 16 percent of poor people,” they explain. So, get out there, and meet new people who could make up your network.
They Network
They Live Below, Not Within or Above, Their Means
Millionaires are frugal. They don’t splurge like you might expect. According to RamseySolutions.com’s The National Study of Millionaires, nearly half of millionaires in their poll said they save at least 16% of their monthly income. They often use it for an emergency fund or liquid cash.
They Live Below Their Means
They Make Use of Their Money By Investing
CNBC.com’s Select asked Faron Daugs, certified financial planner, founder and CEO at Harrison Wallace Financial Group, “about the financial habits his wealthiest clients all share that could apply to the average person.” One big thing he mentioned was building up emergency funds and then investing. “Daugs says his clients have organized investment plans, whether its in stocks, bonds or exchange-traded funds (ETFs),” CNBC explains. He also recommends having a “monthly or bi-monthly automatic transfer of cash from your checking account into an investment account.”
They Invest
They Invest in Particular Things
According to Fool.com, the wealthy “invest in stocks, real estate, and their own businesses.” They add that, “Millionaires put their money into appreciating assets (assets that can grow in value).” Also, “people with net worths of $1 million or higher tend to have more of their money” in stocks and mutual funds; real estate; and business interests.
They Invest in Specific Things
They Look at the Bright Side
Whatever your financial situation, look at the bright side. Look for opportunities for working with what you have and growing your nest egg. Reach out to experts in the financial field if you’re really stumped and see how they can make your financial dreams come true.
They Stay Positive
Don't Give Up
Wherever you are on your financial journey, don’t give up. It can be temping to just throw everything to the wind, but if you take a more level-headed approach, you’ll have a better chance of coming out successful. Good luck on your financial journey.
They Keep Trying
