Right now is the best time to take your pen and paper and write down these simple tips that will help you for years to come.
These 7 things will start saving you money today. Many are simple and cost you little to no money.
We are going to explore everything from reducing your energy bills all the way to reducing your insurance.
1. Check the insulation in your attic and storage rooms.
Almost every attic has some insulation falling down or falling off and sometimes it is as simple as using a stapler to re attach. Start by peaking your head up in the attic looking for any missing and hanging insulation.
When you have inadequate insulation or your insulation is damaged replacing is a must. You can check out the map above to find the best energy rating number for your climate. Remember this is an investment that gives you big return and in some states you can get a refund for up 75% of the cost of insulation.
2. Lower the temperature of your hot water heater.
Your hot water heater should never be above 120 degrees Fahrenheit. Think about it do you really need water hotter than that? The fact is that 120 degrees is the optimal temperature for your water heater. Not only does this save you money on your gas or electric bill it can also prevent your child from getting burned with scalding water.
3. Negotiate a better mortgage with HARP®
Seriously this can save you big! If you want to save thousands of dollars this year alone there is a government program that can help. The Home Affordable Refinance Plan (HARP) can help you save hundreds of dollars every month. The program is set to expire in 2018 so waiting to save is not smart. The best thing about HARP is you can utilize the program even with less than perfect credit and no home equity. It is easy to qualify, visit HARP TODAYand take a short survey. As homeowners we should save money in any way we can and this program can allow us to save big every month.
Home security is a must for every home not only can you get it installed for free but you can also save big on insurance after. We have talked to hundreds of homeowners who have taken advantage of this system. The best thing about this is after the insurance decrease the monthly maintenance fee pays for itself. An alarm is more than saving money it is saving your family homes without security systems are 2.5 times more likely to get targeted by burglars. 1st look into the system, second call your insurance company and get a quote that is usually 10-20% cheaper than usual. Worst case here is you get piece mind.
5. Remember taxes are not your friend and you need every deduction you can get.
Utilize the Mortgage Interest tax deduction when filing your taxes. In the U.S congress estimates that homeowners pay $70 billion in mortgage interest annually. You need to deduct your fair share. Not only can you increase your tax refund by doing this if you itemize but also because you deserve to keep as much of your hard money as you can. The cliff notes on this is for every dollar you pay in mortgage interest you get a refund in accordance to your tax bracket. An example of this is if you are in the 24% tax bracket you will get around 24 cents back for every dollar you pay in mortgage interest. To find out your tax bracket click here.
6. Save Money on New Windows
Replacing old windows that are hard to open and hard to close doesn't only make your life easier it saves you money too. Many window companies have energy pledges or guaranteed savings when you place your homes windows. Overtime the savings on your monthly energy bills will pay for the windows and you will profit. Replacing windows that are old in efficient is one of only home improvements with great ROI (return on investment). To get a free window quote simply compare here.
7. Consolidate All Your Debt Into One Easy Payment
Consolidating debt has never been easier and now you can utilize home equity lines and cash out refinances that allow low rates and possible tax deductions. The average credit card carries an interest rate above 10% and Mortgages and Equity Lines can be much lower. This is a tip that can make your life a lot more manageable. There are many companies out there that can walk you through the process making it easy. If you have more than $10,000 in debt, then this is something that can help. You can get a quick quoteto consolidate by clicking the link below.
