Here in the Binghamton NY area, we just found out that heating oil will go from $2.78 (end of this past winter price) to an estimated $4.30 (this coming winter).
I don’t know about you, but that makes me think! I know that at our church our expected fuel costs are going to rise from $7000, which we had trouble raising to over $10,000. I know there are lots of families in our town who had trouble meeting their fuel bill last winter-I shudder to imagine what will happen in the winter of 08-09. . .
All of this is to suggest that we all need to start taking the long view. It isn’t enough to simply reduce our costs to make ends meet today. The smarter bet is to take a look ahead and try to save even more now so that there is money set aside for the costs of the coming winter. This could mean reconsidering some major purchases. For example, you might be able to swing a nice vacation this summer without going into debt-but perhaps the smarter thing to do would be to enjoy some inexpensive local attractions and save the money for winter fuel costs.
Is there anything you can do now to help with future costs? Maybe if you use fuel oil (as we do) you want to get your tank topped off now at the current price. Check your caulk around windows etc now, rather than waiting till the winter-maybe you could do a window or so a week throughout the summer and have it all done by fall.
Need more insulation on your windows? Perhaps you should research thermal window coverings now and either start saving, look for sales, or buy a few at a time. Consider and research other options in your area. Would using a pellet stove decrease costs in the long run? Can you use supplemental electric or kerosene heat (make sure you follow all safety concerns!). Should you install programmable thermostats?
Actions could even be as simple as perparing the family for lower indoor temp settings and wearing sweaters and socks indoors this winter by talking about it now-giving them time to accustom themselves to the idea.
TJ says
I have tried to convince my hubby many, many times to just throw on a sweatshirt, but have yet to succeed.
We are blessed to live in an area where power is inexpensive (hydro-power) but we still want to be careful of what we use and how much of our budget is spent on power. When we were in an old duplex with horrible baseboard heat, I hung a wool blanket over the big window that let in the most cold air. I used duct tape and foam that I found to create weatherstripping for the front door, and we learned not to heat most of the rooms. My brother and his wife actually took the step last year of closing off the bedrooms and everyone slept in the front room, which was the only one they heated (using an electric heater from Costco).
We use a programmable thermostat that I bought on clearance at Lowe’s and that has been great in saving money at our house.
Anonymous says
Thanks things are already tough and with gas possibly being $10.00 an gallon by winter things will get worse. How will people eat, buy medicine, see the Dr., drive and more. Your sight is a blessing. Water will go up here due to a drought. I hoep things get better. We will just have to tighten our belts somehow. Crime is going up too. Have a great weekend.
Cat says
Wow that sure is a lot. We use to live in Vestal/Binghamton but moved down south in ’96. Thank goodness we don’t have to worry about heating oil.
I would definitely buy some now while the price is low. Agway isn’t in your area anymore are they? I think they all closed down.
Hugs!!!!!
Kate says
Its going to hit us all eventually and i just don’t know if people are taking it seriously enough yet are they just going to wait until they can’t afford their bills and then expect the government to bail them out somehow. I tottally agree that people need to think ahead and watch their spending now. The world is changing and we must too.
Jerry says
We will be gone from New England this winter, but I fear for the elderly and young children with the rising price of heating oil. It’s scary. The time has come for us to take the lead on alternative sources to oil, such as solar (which can warm things even in the winter) and wind, among other things like good insulation! Insulating our windows has given us a measure of insurance against rising oil costs the past two winters.
Jerry
http://www.leads4insurance.com
Vic says
I like the idea of taking the long view. Maybe this means adding more to savings, adjusted to projected inflation? I
‘m not smart enough to know where our expenses will be, so it’s easier for me to think of just a percent of our income that we’d like to put away for ANY and ALL inflated costs…
Anonymous says
The Government will not bail you out unless you are a bank. We have to find ways to get by. Some people are already rioting and stealing. Taking public transportation more often may help and eating less ect.. Less is more. It just is not,as fun!!!
Amy says
That is a good reminder. I just am very worried for the families who are already struggling and now will be pushed even further. As I poured $52 of gas in my car (not an SUV), I had a sinking feeling in my stomach about the future for so many.
Anonymous says
Beware of crooks. It gets worse and judges will find for a business if you cannot pay your bills. They do not give a damn and will sell everything you own.
Jenn @ Frugal Upstate says
amy-I agree. I’m worried about other folks (I know we are taking care of business). I think the church will have to be very proactive this winter and look to help support and teach people.