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Money-Saving Tips For Every Homeowner



Losing weight. Finding a new job. Spending more time with the family. These are some of the resolutions that one makes almost every year. Why not make saving money one of them?


If you're a homeowner, there are many ways you can cut costs and still live comfortably. The following tips will help lead you to financial success.


  • First, set a budget. Figure out exactly how much you spend on the upkeep of your home. Compare each month's expenses with the previous month's to get a better idea of how much to budget for each necessity. Then, see what costs you can cut. Once you set a budget, stick to it.


  • Save energy. You might be losing a substantial amount of money during the winter and summer because of air leaks. By caulking, sealing and weather-stripping all cracks and openings, you can save 10% or more on your energy bill.


Also, look into replacing older appliances with newer, more energy-efficient alternatives. Your light bulbs can make a difference, too. Fluorescent bulbs are four times more energy efficient than incandescent bulbs.


  • Refinance. Shop around to see if you can replace your existing home loan with one that has a lower interest rate. You can easily save hundreds of dollars each month by refinancing your home.


  • Purchase warranty for home appliances. Most homeowners don't account for possible repairs in their annual budget. There is a 68% likelihood of a home system or appliance failure in a given year. The average replacement cost of one of these systems or appliances is substantial. A home warranty is your best defence against unexpected and costly repairs to your home's appliances and mechanical systems.


There are several companies that provide warranties for electronic and electrical/mechanical appliances for one or two years or even more. This will ensure you get the best possible service through the company's network of pre-screened technicians. The minute something breaks down, you can contact these service providers and a local service technician will schedule an appointment that fits your schedule. The warranty covers a multitude of household systems and appliances, regardless of age.


In the US, for instance, The American Home Shield Home Warranty is a one-year contract that requires no home inspection to enrol. Several affordable plans are available to fit every budget. Google to find similar warranty and repair services in your locality/country.

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