I have a friend who is trying to get his financial house in order. As in, after some years of living over his income, he’s got maxed out credit cards on top of a big consolidation loan that took care of the previously maxed out credit cards, a fully mortgaged condo (given the current condo market, it’s like he has negative equity in the condo), plus about 20 thou in student loans. On the bright side, he finally has a job with a stable company who seems to like him and offers good prospects for advancement.
As with many of the newly reformed, he seems (to me) to be swinging too far to the other side of the line. As in, not only is he doing ‘ordinary’ frugal things like brown bagging lunches most of the time, but doing things that, well, involve a lot of inconvenience for not very much saved money. Like he makes a big deal out of reading a particular magazine at the library, and fumes over how many trips he sometimes has to make before he catches a particular issue available-- is that really worth saving, what, $19.95 a year?
Anyway, he told me about his latest ‘savings’ plan: he is going to keep his thermometer set at 58 degrees all winter. Not ‘turn it down at night’, leave it at 58 degrees all the time. <brrrrrrrr>
See, the units above and below and on both sides of his own are occupied and heated, plus there’s a corridor that runs the length of the interior side, which means means his unit is only exposed to the outdoor temperature on one wall.
His theory is that enough heat will ‘leak through’ from the surrounding heated areas to keep his unit warmer than 58, so he won’t incur any heating costs at all.
I don’t know if this will work or not – I’ve never heard of anyone doing it – but it seems to me that if he is getting his heat through the walls/floor/ceiling, then he is cooling those surfaces off for the people on the other sides, and thus making them spend more on their heating costs.
IOW, I think he is proposing to ‘steal’ from his neighbors, even if they won’t ever know he’s doing it. He disagrees: says it’s no different from having an unoccupied unit there, and I couldn’t say that “nobody” was stealing from the neighbors.
What do you think?