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Why You Should Consider Using Sustainable Energy To Live Off-The-Grid

Why You Should Consider Using Sustainable Energy To Live Off-The-Grid

More and more Americans are entertaining new ways to sustain energy by living off the grid and living in tiny houses equipped with the usage of solar panels, wind mills, and even with water power.[1] In 2016, more than 18,000 families left the big city life to flee to mountains and other remote areas for a more peaceful, less stressed life.

The average American salary is $51,000 per year and it costs nearly 24% of that income just to run a single-family home of 1500 square feet per year.[2] With property taxes, insurance, credit card debit, loans, mortgages, and living expenses absorbing another 68%, only 8% of an annual salary is left for emergency, entertainment, or vacation expenses. People are realizing there’s more to life than spending your health to gain your wealth.

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Sustainable Living

Sustainable living off the grid is getting increasingly more popular in the United States, especially with increased living expenses making people opt for better ways of living than spending all their income on living expenses alone. The idea of sustainable living off-grid has also been catching on worldwide with the introduction of more efficient and affordable stand-alone renewable energy systems that produce clean energy.[3]

In fact, a 2015 working paper from the International Renewable Energy Agency (IRENA) estimates, on a global scale, that approximately 26 million households are hooked up to an off-grid system. Out of that number, 20 million are powered by photovoltaics (solar homes), while 0.8 million are powered by small wind turbines.

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While the data reflected households with renewable energy systems, larger set-ups could power mini-grids for small communities, such as the case for Tokelau and other Pacific Island communities. Moreover, off-grid systems could also provide power for a commercial entity in a stand-alone set-up.

Investments

Sustainable off-grid living requires investing not only in a set of renewable energy sources, but also in equipment to ensure a “balance of system” exists, according to the online energy saver resource Energy.Gov. The ideal “balance of system” occurs when all components facilitate safe transmission and storage of electricity.

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Among this set of equipment, components include a reliable battery storage to sustain daily power requirements. Procuring a battery storage is easier now due to the decline in material costs and technological advancements introduced to ensure reliability.

According to Energy.gov, there are deep cycle batteries for micro-systems with a reclaim rate of 80 percent.[4] These storage units could last up to 5 to 10 years, with costs depending on factors, such as capacity and location climate condition. Another essential component is the charge controller, which basically prevents the overcharging of the storage system by shutting off flow or diverting excess power of an auxiliary load.

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Benefits

The decision to detach from the main grid to satisfy power requirements often stems from a need for a more sustainable and affordable power source and a conscious decision to reduce one’s carbon footprint. Tapping into the power of the sun, wind, or any natural resource means less greenhouse gas emissions and less impact to the environment.[5]

According to the International Panel on Climate Change, the life-cycle of global warming emission from renewable energy is low compared to natural gas and coal, two materials that are often used in commercial-level power generation.

A study released this month by Lazard, a leading financial advisor and management firm, indicated that, in the last 7 years, the decline in material expenditures for wind and solar PV production, as well as efficiency improvements, have driven down costs. This indicates that renewable energy for off-grid systems is now more accessible and affordable to a larger segment of the population.

Featured photo credit: Nrel.gov via nrel.gov

Reference

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Tammy Sons

Master Gardener, Horticulurist, Arborist

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Last Updated on April 3, 2019

How to Nix Your Credit Card Debt in Less Than 3 Years

How to Nix Your Credit Card Debt in Less Than 3 Years

Debt is never a fun thing to be in. But, there are many actions that you can take that will help you rid yourself of the burden of debt once and for all.

By coming up with a set plan, eliminating your debt can feel much easier than constantly thinking about it.

This post will provide some tips on how you can do this to help you nix your credit card debt in less than 3 years.

Hint: there are ways that are easier than you think.

1. Consider Consolidating Multiple Credit Cards If Possible

This may not be applicable to you, but if you have multiple cards – it is something to consider. Keeping up with multiple bills is time consuming.

It will depend on the balance you have on each. Consolidate ones you can but do not do it to the point that you get too close to the maximum limit. Also, it is ideal to pick the card with the lower interest rate.

Consider if there are any fees or alternatively, rewards, with transferring a balance to another card. Watch out for fees. Note that some cards offer rewards for transferring a balance to them. This is extra cash that can help go towards paying off your debt.

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Having one or two cards can make nixing your debt much simpler than keeping up with the balance of a bunch of cards. Keeping track of paying the minimum towards a bunch of cards is time consuming. Spend the time to consolidate instead to make the overall process simpler going forward.

My tip: Have one main credit card. Have a second one that you use for necessities – such as groceries or gas – that offers rewards for those purchases (a lot of cards do) and set the second one on auto-pay. You should be able to pay off a smaller amount on auto-pay if it is a necessity. If you think you cannot, then you may need to cut down a lot on expenses.

Why do I suggest doing this? Having one thing set to auto-pay is one less thing to think about. One less thing to waste time on. Same idea with consolidating to one main card. Tracking down too many is a hassle.

2. Try to Pay the Full Balance You Spent Each Month at the Very Least

You need to pay off the amount you are spending each month when that bill comes in. This is the amount you spent THAT month.

Do not let the debt keep accruing while you work on paying any unpaid debt that has accrued. It will become a never-ending battle. Try as best as you can to be current on paying for each month’s expenses when that month’s bill comes out.

If this is a strain, consider why. You may need to cut expenses. Or you may need to consider other cards. Or look at where this money is going.

3. Pay Extra When You Can – Every Small Amount Counts

This cannot be emphasized enough. If you are looking at a lot of credit card debt, it can look daunting, but each extra amount that you can put towards the debt will really add up – no matter how small it is.

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It does not just reduce the principal amount that you have left to pay off, but it reduces the amount that is collecting interest. You will always save money with that reduced interest.

4. Create a Plan on How to Pay Extra

Back to the main point, having this plan is giving you one less thing to think about.

This plan should be a plan that works for you. If it does not work for you, your spending habits, and your views on debt, then it will not be an effective plan.

For instance, if a set plan of an extra $50 (or another amount that you know you can afford) works for you, then do that. Set that aside every month and pay that extra amount. Treat it like a bill. Choose an amount that works for you and pay it like clockwork as though it was a bill you had to pay each month.

Little amounts will not nix it entirely, but they will help tackle it and having a set plan can make it less of a chore. Creating a new plan of how much to put towards it each month is an unnecessary added stress.

5. Cut out Costs for Services You Do Not Use

If you are signed up for subscriptions that you do not use because of some free trial or for some other reason, cut it out. Your overall financial position will look better.

In turn, that will make cutting your credit card debt easier. Look at your statements to find these expenses. If you do not use them, you may forget you are paying some unnecessary amount each month. Cutting it out can really add up in savings that you can put towards other needed expenses.

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6. Get Aggressive About It

Consider these points:

Depending on the interest and the level of debt, you may need to give up a few indulgences. For example, instead of ordering delivery or going out to eat, cook at home. Everything adds up.

Other things may be more of a sacrifice. It may be a trip you wanted to go on, or a daily latte habit you’ve picked up. In these instances, consider how important it is to you and if it’s worth the sacrifice. And if it is a costly expense, think whether you can wait to indulge.

Cutting an extravagant expense can really help make a dent in your overall debt. Try not to add to debt when you are trying to pay it off. It will be a never-ending battle. Make it less of a battle with these tips and it will feel easier.

Bottom line: Do what you can to make this process easier for you. Implement steps that do this. It takes time now, but will help overall. Also, keep track of your spending and paying down of your debts. Which is the next point.

7. Reevaluate Your Progress at Set Intervals

Doing a regular check-in can help you see your efforts pay off or maybe indicate that you need to give this a bit more effort. If you check every 3-6 months, it will not feel so much like a chore or feel so daunting.

By doing this, you will be able to better understand your progress and perhaps readjust your plan. Bonus: if you see it pay off, it will feel great to do this check-in. You will get there.

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Finally (and most importantly)…

8. Keep Trying

Do not get discouraged. Pushing it off will make it worse. Just keep trying.

Once your debt becomes lower, each monthly payment will reduce the balance more. Why? You are paying less towards interest. It will be a snowball effect eventually and it will become much easier to manage. Just get to that point. And know once you do, it will feel easier and motivating.

Start Knocking out Your Debt Today

The best way to eliminate debt is to get started right away. Begin by implementing the above steps and watch your debt just melt away. Try out some of the above strategies and see what works best for you. Soon you’ll be on your way to a debt free life.

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Featured photo credit: Pexels via pexels.com

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