How Chicago Shoppers Can Save Money on New Appliances This Month

What exactly does Christmas shopping have to do with energy efficiency? A lot, if you want to get a soon-to-expire discount on new appliances.

For the past two years, homeowners have been eligible for an energy tax credit of up to 30 percent, or $1,500, on products from biomass stoves to storm windows to gas-burning fireplaces. With most Americans still short on cash, it's been a great way to save money when upgrading old appliances, say Chicago bankruptcy attorneys. But all that's coming to an end on Dec 31. In order to take advantage of the discount, you need to have the energy-saving device installed and ready to use by that date.

If you're in the market for a new appliance, maybe it's time to consider buying yourself a Christmas gift this year. Not only will you take advantage of the tax savings, but modern appliances can save you money over time. For instance, energy-efficient washers use significantly less water and with properly-sealed windows, warm air won't escape in the winter (or cool air in the summer) so your heating and air unit won't have to work as hard.

On the other hand, it will be quite a few months before those savings pay for the cost of the product. If you know you need an upgrade and you've got some money budgeted, it's probably not a big deal. But what if you're in debt - and having trouble scraping together the money to pay the bills as it is? If you're not ready to afford a home improvement purchase, there's no point in rushing to get the tax credit when you might spend more than you'll save in interest over the next several years because you have no choice but to put the purchase on an already over-loaded line of credit.

In the end, a good deal isn't about how much you save on the sticker price, but how much you'll pay in the long run. If you really want to take advantage of lower prices, how about finding a way to save money on everything you buy? It's not a dream - it's what happens when you finally break free from debt. Bankruptcy can help make it happen - and protect your assets from things like foreclosure in the process. Learn how filing for bankruptcy can alter your financial situation for the better when you try a free personal debt analysis with a Chicago bankruptcy attorney.

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