We all want to keep extra money in our pockets, especially in the face of this economy with kiddos sure to enter college in the future. However, many of us have exhausted our day-to-day saving practices, such as buying generic brands or carpooling, and are now looking for bigger and better ways to save. So if you are finding yourself looking for better ways to save big, look to your home. The savings you may find could literally save you thousands a year, and a few great ways to get them include:
Utilities
Never be afraid to turn down the thermostat in cold weather or turn it up in hot weather. Clothes were made for a reason, and choosing to use them for the appropriate weather can dramatically reduce your utility bills. Also choosing to update your appliances to more energy efficient ones will not only save you money in the long run, but they will also help increase the value of your home should you choose to sell later.
Insurance
When was the last time you looked over that homeowners insurance policy? If you’re like me, then it has been awhile. Generally I just wait for the statement renewal notice to show up once a year, and send out a check. However, if you have made recent updates to your home or simply haven’t inquired about new premiums, there is a good chance that you are overpaying on your insurance.
To see if you qualify for a lower rate, which could literally save you hundreds a month, call up your insurance agent for further inquiry.
Mortgage
If you feel as though your mortgage payments are too high for your monthly budget, consider asking for a longer loan term or refinancing. Both options have the potential to dramatically reduce your monthly mortgage payment, and refinancing could save you money long-term by reducing the amount of interest you pay over the life of your loan. However, if you need further help, looks for tips on tips on refinancing your home from AuroraBankFSB.com.
Saving money around the house doesn’t necessarily mean you have to make incredible sacrifices. Simply giving your insurance agent or lender a quick call can have you saving hundreds over the course of a year without you having to do much more than dial the correct phone number.
Guest Post provided by Becky W.