5 Money-Saving Tips Every Homeowner Wishes They Would’ve Known Sooner
By: Malory Wood d/b/a The Missing Ink
If you are a homeowner, you unquestionably understand how expensive mortgages, bills, maintenance, upkeep and amenities can be. We have developed a survival guide to help reduce your expenses and save you some money!
Slash Your Energy Bill by 50-70%
If you are in a household where you consistently go from room to room, muttering to yourself “Darn kids, I am not made of money!” as you shut each and every light off behind them, this is for you: SOLAR PANELS! Solar panels will effortlessly save you thousands of dollars per year on your energy bill.
Not only do solar panels provide a natural way to efficiently generate energy, they look great too! Did you know homeowners in specific zip codes across the country can qualify to receive thousands in government assistance to install these energy-savers? Check your zip code to see if you’re one of them!
Refinancing Your Mortgage…Successfully
This program is a hidden gem the banks don’t want you to know: The Freddie Mac Enhanced Relief Refinance Program. FMERR has the ability to reduce homeowner’s mortgage payments by a whopping $3000 a year for those that qualify!
In order to qualify, your mortgage must meet the following:
- 15 months seasoned between Enhanced Relief Refinance Mortgage date and mortgage being refinanced date
- Delinquency must not exceed 30 days in the last 6 months
- No program expiration date
- Must have standard 15-, 20- or 30-year fixed-rate mortgage
Keep Those Curtains Drawn
Does your home have windows that face to east and/or west? This could be causing your energy bills to skyrocket! It’s quite simple: the sun rises in the east and sets in the west; therefore, for multiple hours throughout the day, the sun’s intense rays sneak their way and heat up your home, unbeknownst to you.
Your air conditioner, whether portable or central air, will be working double-time in order to maintain your desired temperature with all the extra heat. Our best tip is to draw the curtains and keep the shades closed during peak sunrise and sunset hours. You will save hundreds a year on your energy bill!
Obsessively Replace Your Air Filters
It is easy to forget our friendly air filters; they need love too! If you live in a home that has no pets, it is safe to change your filter every 90 days. If you live in a home that does have pets, replace the filter every 30 days. If your home has multiple pets, your safest bet is to change the filters every 20-40 days.
When you neglect routinely replacing your air filters, you subject yourself to health issues from dirty air blowing into your house. You can now add extra costs in medical bills when discovering you have a respiratory issue by your own design. Additionally, your unit will result in slow cooling due to air not being able to pass through. There goes your energy bill, too!
Bringing Back Old-School Clotheslines
Your grandmother did it. Your mom did it: Hanging clean laundry on the clothesline. Placing your clothing on an indoor drying rack or outdoor clothesline will save you hundreds a year. Modern-day dryers use up to 3.3 kilowatt hours of energy. The smallest load of laundry costs about $0.36, or $0.11 per kilowatt hour for 45 minutes of running time.
Can you imagine how much more expensive this can get when you dry MULTIPLE, large loads of laundry per week if you have a large family? And throw kids’ clothes in, which have to be consistently washed due to mud, grass, and food stains… say goodbye to that extra cash in your wallet. To avoid this, you can sling several loads on a clothing line and watch the savings add up!
CAM Financial & Tax Services is here to answer all of your home and financial-related questions with professional, expert advice from our highly-trained staff. Customer service and efficient financial planning are our highest priority to provide you the maximum savings. Please call us today toll-free at (973)759-4045 to get started on your tax returns today!
Proudly serving the Essex County community since 2000.