Owning a home can be tough, especially if you’re a relatively new homeowner used to the lower financial burden of renting. Though rents can be higher than mortgage payments, they often include utilities and property owners often handle the costs of maintenance and repairs. New homeowners can be startled by their new responsibilities, but there are some easy ways you can save money around the house. Here are just a few.
Become a Cord-Cutter
Names like Netflix, Hulu, and Amazon Prime are common household brands now, showing the popularity of streaming services for television shows and movies. By becoming a “cord-cutter” and getting rid of cable, you can save money every month! Streaming services are often cheaper than cable deals, plus you get to select what you want to watch and when you want to watch it. It’s a win-win.
Stay Vigilant About Electricity
This tip can save serious bucks, but many are unwilling to do it. Perhaps the most tedious one on the list, this money-saver consists of unplugging any unused electronic devices around the home. Not using your TV at the moment? Unplug it! The same goes for computers, chargers, sound systems, etc. Yes, it’s a bit daunting to unplug electronics every time you’re finished with them, but it can save money by eliminating “phantom” electricity usage that costs you in the long run.
Fix Air Leaks
Now that autumn is here and winter is fast approaching, heaters across Weaver’s Pond are surely getting a workout. Here’s the issue: any gaps between windows or door jambs, no matter how small, can leak air and essentially spew money into your yard. Take the proper steps (and spend the bit of money required) to fill in the gaps so that your house stays warm for longer. You’ll be amazed at the positive effects on your heating bill.
Double-Pay in December
This final tip may be more useful for next year when you’ve had a full year to financially prepare. If you can save up for it, try to make two mortgage payments in December. Not only can this shave years off your total mortgage, but it also helps keep the interest on your loans down. You have to pay mortgage anyway, but doubling a payment once per year can save you hundreds in the long run!
Those are our tips for saving money around the house. If you have any tips you’d like to share with the community, let us know in the comments below. For any inquiries, contact our office here.