Personal Finance News

This month, the EPA wants you to think about the air you breathe and take action against a health threat you probably didn't know existed: Radon.

Along with the many useful and sometimes useless "events" that are named by government agencies, interests groups and greeting card companies, the EPA has designated January to be Radon Action Month.

From experience however, I can tell you this one is pretty important. In the 20 years I spent as a professional home inspector, we frequently saw otherwise perfectly healthy homes test very high for radon gas.

If you have a clunker of an appliance you'd like to replace in this year, the good news is that the government is offering an attractive rebate that can pay you up to $250 for upgrading to a more efficient model. But the bad news is that with this latest version of "Cash for Clunkers" incentives, you'll have to do a lot of clunky work to get your cash.

Consumer Reports latest tests on washers show price drops of as much as 33% compared with a year ago. Along with the federally funded "Cash for Clunkers" rebates of up to $250 for qualifying models, consumers are benefiting from more energy and water efficient models that save money in the long run.

Santa's reindeer may have a little trouble finding good little boys and girls' homes this Christmas due to a reported nationwide shortage of holiday lights. While the economy slowly rebounds, holiday light displays are selling out at home centers and discount retailers around the country.

Adding an entertaining dimension to the appeal of energy-saving home improvements and building on the promise of new tax incentives for homeowners, President Barack Obama termed insulation "a sexy subject" during a Home Depot visit in Alexandria, Va., on Tuesday.

"Here's what's sexy about it. It saves money," Obama noted in comments aimed at encouraging Congress to pass incentives for homeowners who insulate and otherwise upgrade their homes to make them more energy efficient.

A study of 51 homes released this week by the Consumer Product Safety Commission (CPSC) found a strong association between homes with Chinese-made drywall and levels corrosive hydrogen sulfide, which gives off a smell similar to rotten eggs.

It was the largest investigation ever taken on by the CPSC, costing $3.5 million and involving 15% of the staff, according to the CPSC.

While the forecast for winter 2009-10 stands to be easier on homeowners' wallets than usual, you can save even more money by making energy-smart improvements and easy adjustments to your household routine.

Here are eight ways to reduce home heating costs to stay warm for less this winter:

• Seal out drafts: Eliminate air leaks and drafts around the house, and you'll trim seasonal heating costs by up to 20 percent. Sealant, caulking and weatherstripping are all easy to use, and they'll also help you earn tax credits on your 2009 return.