Personal finance expert reveals tips to cut back on energy costs
‘The Ramsey Show’ co-host Jade Warshaw on what is driving energy costs higher and gives tips on how to cut back.
Americans are facing the heat this summer — not just in temperatures, but also in their wallets.
The average power bill for an American is expected to surpass $176 per month for June, July and August — an increase of 2% from the same months the prior year, according to the U.S. Energy Information Administration (EIA).
One personal finance expert says if the high energy prices are causing you to «bust and break the bank,» she has tips to help you chill on those costs.
«If the gas prices, the energy prices are causing you to bust and break the bank, that is a symptom of a larger problem,» said «The Ramsey Show» co-host Jade Warshaw on FOX Business' «Mornings with Maria,» Wednesday. «We've got to get on a budget, and we've got to prioritize our utilities.»
HEAT WAVE HITS US ECONOMY AS BUSINESSES AND CONSUMERS TRY TO ADAPT
The U.S. Energy Information Administration released a press release in July of this year, forecasting record-high natural gas consumption in the United States for electricity generation in July and August as another hot summer increases demand for air conditioning — expecting more electricity generation from natural gas in July and August 2023 than that of those months in 2022, according to their July Short-Term Energy Outlook.
Warshaw commented on the rollercoaster of energy prices and the impact on the consumer's budget. "Look, if you've been on this planet for 10 minutes, you know, these prices are constantly jumping up and coming down and jumping up again. This has got to be something that's part of your monthly budget."
She advised consumers to prioritize and budget their utilities as
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