Lighting Up Your Financial Future

If you haven't gotten hooked on compact fluorescent light bulbs (CFLs) yet, it's time to plug in to the one of the biggest money savers out there. After all, it's not often you can invest $1, gain more than $80 in return, and still remain on the right side of the law.

For those who question my math (I appreciate those of you who don't work on blind faith), here goes.

The cost of CFLs has plummeted significantly in recent years. Partly this is due to increasing demand. And partly, I hate to say, it's because that big-box store that us liberals love to hate took on a massive campaign to sell 100 million CFLs in 2007.

Of course, the only way said big-box store could do that was by dramatically lowering the price, since their average customer is not the type to shell out $10 for an environmentally-friendly light bulb, even if it would eventually save them money.

The result: Wal-mart (there, I said it!) now sells its "Great Value" 23-watt CFLs (the equivalent of the traditional 100 watt incandescent) for only $8.00 for a 4-pack. That's only $2.00 per bulb!

Yes, that's about $1.00 more than you'd pay for a similar incandescent bulb. But consider the payoff: These bulbs last for up to 10,000 hours, at least 8 to 10 times longer than a traditional incandescent bulb. Over time, you'd need to buy at least 8 of those "inexpensive" $1.00 bulbs to last as long as one long-lasting, $2.00 CFL. That's a lifetime savings of at least $6.00.

The real money maximizer, however, is the energy savings. A 23-watt CFL bulb uses 77% less energy than a 100-watt incandescent bulb while giving off the same amount of light. Over it's 10,000 hour life, that's 770,000 watt-hours saved. Assuming an average energy cost of 10 cents per kilowatt hour, that's $77 less you'll spend on electricity over the lifetime of just one bulb.
Imagine the savings that could accrue over time if you changed all the light bulbs in your house.

While some people complain that the light from CFLs is too harsh, this is really only a problem when the bulbs are placed in exposed light fixtures. When protected by a lamp shade or other covering, they light a room just as pleasantly as the standard, energy-guzzling incandescents.

CFLs do contain a small amount of mercury, so they should be properly recycled at the end of their lives. To find local recyclers, visit Earth911 and search for CFL recyclers by zip code.