Will programmable thermostat save me money?

Herb Weisbaum • Profile • E-mail

Autumn has arrived and many of you will be using your heaters for the first time in months. That has some readers wondering about saving money on their monthly heating bills.

Also, there are questions out there regarding credit scores, unclaimed money, music club memberships and cell phones.

I recently purchased my first house. It has the old-fashioned "wheeled" thermostat that sets the house to one constant temperature.  Will a new programmable thermostat save me money on my energy bills? I’ve heard that any savings from the programming are negated because the furnace has work harder to get the house to the desired temperature.
– Bert P.

A new programmable thermostat is almost certain to cut your heating and cooling costs. Despite what many people think, keeping the house at a constant temperature all day long does not save money.

By automatically lowering the temperature inside your house by 5 to 10 degrees at night and when no one is there, you can cut your heating bills by up to 20 percent a year.

But a setback thermostat only works when properly programmed. For its October issue, Consumer Reports tested 25 models and found that “confusing controls on some can make it easy to burn more energy than you bargained for.” You need to make sure you understand how to program the unit and check that it’s doing what you expect it to do.

The editors named 3 models CR Best Buys: The Lux Smart Temp TX1500 ($50) and the Lux Smart Temp TX500 ($35) have one program setting for weekdays and one for weekends. The Lux Smart Temp Touch Screen TX900TS ($80) lets you set a different program for each day of the week.

My wife and I are having an ongoing discussion. I say it is good for our credit score to have credit cards we don't use.  She believes that it is not.  What’s the right answer?|
– Jason R.

It does seem illogical to keep unused accounts open. But in most cases, it’s the right thing to do. Closing those accounts is likely to hurt your credit score.

"Leave them alone unless there is a compelling reason, like an annual fee, or a child who is a cosigner and might go on a spending spree," says Gerri Detweiler, credit advisor for credit.com.

Most people tend to close their oldest accounts. "An older history is better," Detweiler says. "Closing accounts can also make it look like you are closer to your overall credit limit."

Detweiler recommends having at least four active accounts on your credit report. “To keep an account active, you don't have to carry debt or pay interest.” she explains, “Just use the credit cards from time to time and pay the balance in full.”

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