Wise homeowners are saving more money than ever before by making just a few easy updates to their spending habits. Most of the changes that they’re making take just a few minutes too!
We gathered together the top ways that homeowners are saving, and found that millions could save up to $1000 per month.
1. Homeowners, This Benefit Can Save You $1000s Each Year
Homeowners are rushing to claim their $355/month benefit from the government before the stimulus expires in 2018. If you owe more than $100,000 on your mortgage, you might qualify for this program to reduce mortgage payments. WiseMoneyLife.com is the easiest and fastest way to see if you qualify to claim up to $355/month ($4,264 per year).
2. Embrace the Grocery Store
One of the easiest ways to save hundreds of dollars each month is to pack your lunches or eat at home. Millions of consumers waste money by not packing a lunch for work. Taking leftovers, meal prepping before the week begins, or simply packing a sandwich can make a massive difference in your bank account.
Of course you still need to make time for fun and date nights. Commit to limiting your nights out or candle lit dinners out to once a week or even once a month. Get a little creative with your significant other and have a special night in.
3. Cut the Crazy Cable Packages
Internet prices keep going down, but your TV subscription prices keep adding up. Between taxes and equipment rentals, that $60 TV subscription through cable or satellite can turn into $100-$200 in extras. Instead, figure out what you love to watch and build the package that you actually want.
Cutting the cord with live TV can be easier than you think, even if you’re a sports fanatic!
- Best Price ($25/month): Sling TV
- You can increase your movie channels, add a DVR, or more sports for $5/month each.
- Best All Around ($40/month): Hulu Streaming
- Hulu pieced together some of the best sports, local channels, and popular entertainment into one simple package. Most agree, that this is the best value and best all around.
Of course, you can round out your premium content with classics like HBO and Netflix. Amazon Prime members also have access to streaming content.
Equipment needed: Sling TV frequently offers specials for equipment like Apple TV and Roku if you pay 2-3 months upfront. These add ons go beyond what a Smart TV offers with special apps, faster equipment (for better streaming experiences), and even games.
4. Getting Help with Debt Relief
Between credit cards, student loans, and car payments, savvy homeowners are making life easier by connecting with debt solution experts. With debt solutions tailored to specific needs, homeowners can use a unique solution to take many debt payments and turn them into one easy to manage payment.
Additionally, most debt relief programs help will help lower monthly payments through better interest rates, talking down total debt, and more.
5. Use Credit Cards to Make Money – Not Lose It!
Credit cards can be an awesome resource for earning money for bills that you already pay. If you’re in trouble with debt, you can skip this step for now. However, if you want to start earning money for your monthly expenses like insurance, utilities, gas for your car, or more, then this might be a great strategy for you.
Start by finding credit cards that provide 1%-5% cash back rewards. You can also find these with low rates and 0% APR for the first 12 months (helpful for business owners). New cardholders typically get a bonus for spending $1,000 to $3,000 in the first 90 days. These bonuses can equal up to $500. Not bad for just paying your bills on time!
6. Curb Your Thermostat Abuse Habits
Most US homeowners love their HVAC a little too much. During the summer, your house might feel like an ice box. The winters are most likely nice and toasty too! Did you know that an adjustment by a couple of degrees can make a huge difference?
It’s estimated that a combination of adjusting by a couple of degrees and scheduling your thermostat can have a 3%-10% impact on your monthly energy bill. Some energy companies like Xcel Energy in Colorado will even discount your bill for cutting back during peak hours.
7. Veterans, Use This Quiz to Check for $42,000 in Housing Benefits
Did you know that most Veterans and their families don’t use or even know about their housing benefits? The lifetime value of these benefits adds up to $42,000 for most. If you or an immediate family member have ever served, you might qualify for these benefits (which can be used multiple times).
xThere are a variety of ways that a VA loan can help our heroes and their families save. Checking eligibility is free, and only takes 60 seconds.
What other ways do you save money each month as a homeowner? Let us know in the comments!