BMO Harris Financial Tip of the Week: When it comes to your home, going green is good for both the environment and your pocketbook

CHICAGO, Aug. 23, 2012 /PRNewswire/ -- As part of BMO Harris Bank's ongoing commitment to financial literacy and Helping Make Money Make Sense BMO Harris is providing weekly financial tips.  This week's tip teaches how "Going Green" is surprisingly simple and cost effective.

BMO Harris Bank provides six strategies to help you make the transition to green living.

Recycle rainwater – Recycling rainwater for gardening and landscaping can be easily implemented by purchasing a rain barrel from your local hardware store. They come with simple instructions for installation and using one may save you money on your monthly water bill.

Start composting – Leaves, twigs, grass clippings and vegetable food waste can be stored in a composting bin and reused in your garden. Composting these materials keeps them out of landfills and turns them into a useful product. As an added benefit, this saves you money on fertilizer during the gardening season.

Replace an old furnace or water heater – Replacing an old furnace or hot water heater with an energy efficient system uses less energy and may reduce your gas and/or electric bill. The amount you can save depends on a few factors, most importantly the price of heating fuel.

Use a programmable thermostat – Programmable thermostats allow you to set your heat and air conditioning to turn on and off at preset times so you can reduce the energy you use during hours you are not home or sleeping. Even just setting back temperatures a couple of degrees can have a direct effect on your utility bills.

Upgrade to energy efficient appliances – Energy star appliances can be expensive but if you chose the right ones for your needs, the payback can be realized in as few as two to three years. After your payback period is over, you will continue to save on those utility bills for the life of your appliances.

Switch to compact fluorescent lightbulbs – Replacing standard lightbulbs with compact fluorescents ones may cost you a bit initially, but within a few months, you'll start saving money on your electric bill.

For more helpful tips visit, http://helpingmakemoneymakesense.com/

About BMO Harris Bank
Based in Chicago, BMO Harris Bank N.A. provides a broad range of personal banking products and solutions through over 650 branches and approximately 1,350 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. Deposit and loan products and services provided by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank(SM) is a trade name used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with 1,600 branches, and a retail deposit base of approximately $180 billion.

BMO Harris Bank is a trade name used by BMO Harris Bank N.A. Banking deposit and loan products and services are provided by BMO Harris Bank N.A. Member FDIC. Brokerage and Insurance products are offered through BMO Harris Financial Advisors, Inc. (BHFA) and M&I Financial Advisors, Inc. (MIFA), each a registered broker/dealer, member FINRA/SIPC, and SEC-registered investment advisor. Investment banking services are provided by BMO Capital Markets Corp. (BMOCMC) and BMO Capital Markets GKST, Inc. (GKST), a Municipal Bond Dealer and member FINRA and SIPC. Financial planning and investment advisory services are provided by Sullivan, Bruyette, Speros & Blayney, Inc. (Harris SBSB), an SEC registered investment advisor. Family Office Services and Investment advisory services are offered by Harris myCFO, LLC (Harris myCFO), an SEC-registered investment advisor. Stoker Ostler Wealth Advisors, Inc. (Stoker Ostler) is an SEC-registered investment advisor. Investment advisory services to institutional clients are provided by BMO Asset Management Corp. (BAMC) or its wholly-owned subsidiary HIM Monegy (Monegy), SEC-registered investment advisors. Products offered by BHFA, MIFA, BMOCM, Harris SBSB, Harris myCFO, Stoker Ostler, BAMC and Monegy, which are affiliated companies and wholly owned subsidiaries of BMO Financial Corp.,: Are not insured by the FDIC or any Federal Government Agency, not a deposit of or guaranteed by any Bank or Bank Affiliate, may lose value. The purchase of insurance or an annuity is not a condition to any bank loan or service. Not all products and services are offered in every state and/or location.

SOURCE BMO Harris