Top 9 Ways to Lower Your Home Expenses
Life is expensive and bills need to be paid, so don’t expect us to tell you any differently. The truth, however, is that we all waste a lot of money on little things that add up to be quite a bit. If you follow our advice below, you’ll probably have a few hundred more dollars a month to play around with. Enjoy all the extra cash we just saved you. And you’re welcome!
Shop and Prepare Your Own Food
Yes, the biggest food trend we’ve seen over the last few years has been the large number of home food delivery services, some of which come complete with recipes and rations. Even the spices are thrown in in case you don’t have a spice rack at home. How simple is that, now? Well, this sort of convenience doesn’t come free but if you’re looking to lean out your spending, this is one of the first ones to cut. Just get yourself a basic cookbook or call mom for her recipes!
Shop Your Homeowners Insurance
It’s important to buy insurance from a reputable company but it’s not necessary to pay too much for coverage. If you have a mortgage, your homeowners insurance is probably paid with the same check you send to your lender, but that doesn’t mean that you are stuck with the homeowners insurance policy you currently have. Shop and compare home insurance rates with one form here and you’ll be paired up with a trustworthy agent. You can potentially save a few hundred dollars without compromising on the quality of coverage.
Be AC Free
It’s almost summer and you know what your air conditioning bill does to you every year. How about trying something new this year? How about buying lots of fan?. There are very energy efficient fans for sale these days and silent ones too. Why not buy a few and figure out how to create circulation for those muggy and days and nights? You’ll probably need to get some window coverings too. The better able you in blocking sunlight, the cooler your home will be.
The incentives for getting solar panels only grows stronger every year. It’s important for you to see what incentives are offered in your state. On average, a typical American household spends upwards of $1500 a year on electricity. Considering that electricity rates rise at approximately 2% every year, it may be worth it for you to have a one-time fee for something that will save you money in the long run. Depending on how extensive your solar panel system is, you can save anywhere between $7500 and $100,000 a year. Also, you don’t have to insure these for the most part, because they come with a warranty (make sure yours does). While some people opt to insure their solar panels anyway, it’s not necessary so your homeowners insurance may not rise at all.
Get Rid of Cable
If you’re using Cable for Internet and television, your bill is about $100 (on average). That’s pure craziness. The cable company may try to persuade you to stay on but with so many options for television, including HULU and Netflix, why are you wasting all that money?
Whether you have an SUV, truck or a compact car, if you haven’t shopped your auto insurance rates in six months, you’re likely paying at least $100 more than you need to. In fact, the longer you’ve been with the same carrier, the more you can probably save if you allow an insurtech company like SmartFinancial to pair you with the agent with the lowest bid for the same coverage you have now. It’s the only way of finding out if your auto insurance bill is unreasonable.
Make Coffee at Home
If you buy coffee from Starbucks or even the local gas station, you’re spending anywhere between $60 and $150 a month easily. Now compare that to buying your own coffee and using a travel mug or thermos to take it anywhere you want? You may only be spending $15-$25 a month on coffee if you take a few minutes to brew your own at home.
Lower Your Electric Bill
Check all seals on windows and doors to make sure that you’re not wasting energy. Check your air conditioning ducts and your heating ducts too. You will probably cut down on your bills quite a bit if you find leaky ducts. While you’re at it, turn down the thermostat for your hot water a bit and take shorter showers. If you lower it by 10% or more you can save about 10% or more. Most people turn their appliances to ridiculously high temperatures. Your refrigerator should be set to 38 degrees and the freezer at 5, not any colder.
Lower Your Water Bill
If you turn down the temperature on your hot water heater, that should immediately help get your entire household onboard with conserving water because it will run cold much faster than if the temperature were set higher. You may also want to buy a water conserving showerhead. You can save over 2,000 gallons of water a year this way and save money doing it. Washing clothes in warm or cold water will also help keep bills down. Make sure you don’t have any leaks on any faucets (including the bathtub faucet). When possible, buy a dishwasher and washer that have the Energy Star label, which indicates that you will save lots of water and energy.
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You may have a few valuables that amount to thousands of dollars, maybe even tens of thousands. Even one piece of estate jewelry or a vintage diamond ring may be worth more than the payout maximum on your home insurance policy or renters insurance. We show you how to insure jewelry the right way.
Hurricane Katrina, Hurricane Irma, Hurricane Harvey and Hurricane Jose didn’t help Hurricane Barry much because it’s estimated that many people in the area are without home and flood insurance, which means they will be left the task of footing the bill of rebuilding their homes without much assistance.
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With all the benefits that come with owning a swimming pool there are also risks, which is why swimming pools are often called “an attractive nuisance.” According to the Centers for Disease Control and Prevention (CDC), approximately 10 people die from unintentional drowning.
Mortgage payments and possibly a homeowners warranty aren’t the only costs of owning a home. Nope, it doesn’t end with taxes and homeowners insurance either. Most people who set out to buy their first home are in for a surprise when the closing date approaches and they learn that they owe all sorts of money for the house they just bought.
Homeowners insurance was not designed to cover small or even big fixes, but to repair damage that is covered under the stipulations of your policy. In fact, you may end up paying more in monthly premiums if you file a claim that gets rejected. For this reason, we advise you to fully review your case and your policy to see if you’re covered before filing a claim.
Homeowners insurance is an important protection to have even when it’s not required for a primary home, a vacation home or condo.