Posted on Saturday, January 22, 2011
Everyone’s tightening their belts. Biggest drop in American borrowing we’ve seen for seven decades. 80% are living paycheck to paycheck.
For most folks the home carries the biggest expenses. Here are some tips to save home related costs:
Seek a reduction in you home real estate taxes (60% are over-valued for real estate taxes, but only 2% seek a tax reduction). You can do this yourself, but for help with this just click the "ask Shari a question" tab on the home page and I'll email some companies who can handle it and you only pay them a percentage of what they save you!
You can save tons of money on the mortgage interest over the life of your loan (pay one extra mortgage payment at the beginning of each year. Or, if your lender will allow it, pay half the payment twice a month). There are also companies that can help you with this or ask your lender.
Home energy is a big financial drain. Down South its the a/c and up north its the heating (call for a free energy efficiency audit. Use energy saving light bulbs and be aware of turning things off. Use the a/c less frequently – here in Florida we tend to consider it a necessity…its not).
Homes insurances add up to a big expense. Make it a practice to contact all of your insurance carriers a month before your annual renewals and re-shop insurance. Make sure you’re getting all of the allowed discounts. For example, there may be discounts if you’ve never had a claim, if you have an inspection done, or if you have an alarm system.