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  • 5 Unexpected Expenses And 5 Ways to Pay Them

    5 Unexpected Expenses And 5 Ways to Pay Them

    Paying for any expense is never a fun time. But unexpected expenses are especially the worst. They often destroy the most potent of financial plans and leave absolute destruction in their wake.

    Sometimes it’s a medical emergency that is worth six months of your salary. Another time, you have to attend a wedding —somewhere in Europe.

    According to Bankrate’s Financial Security Index, three in ten Americans have no emergency savings at all. So what should they do if faced with expenses they’re not expecting?

    There are several ways to tread waters in such a scenario. But before going into them, let’s take a look at some of the most common ways unexpected expenses emerge.

    unexpected expenses

    Common Types of Unexpected Expenses

    Even if you map out a perfect budget that covers everything from rent to grocery, your financial stability is vulnerable to some of these unpredictable expenses.

    1.    Medical Expenses

    Anyone not covered under a good insurance plan can be devastated by medical expenses. According to the New York Times, the majority of American families are a single medical emergency away from complete financial ruin.

    Unfortunately, a $1000 medical bill is enough to put most households under. And let’s not ignore the mental toll health-related matters takes on an individual. Money should be the last thing on a person’s mind while they’re dealing with health issues.

    Ideally, it should never come down to health against money but unexpected medical conditions often create this bleak situation for people who don’t have any savings set aside or are uninsured.

    2.    Home Maintenance

    You never know when something will go wrong in the house. Be it termites, plumbing issues or the refrigerator breaking down — house expenses come out of the blue.

    It’s hard to plan for them but one can minimize the risk to an extent. While you can not predict a colony of insects finding refuge in your attic, you can get someone to look at the wiring and plumbing system to see if any issues can occur in the immediate future.

    Even then, these types of expenses are inevitable. And without any savings in the bank, they can be especially worrisome.

    3.    Buying Gifts or Taking a Trip

    You would be surprised to know just how many people go into debt in the holiday season. People who haven’t saved throughout the year often seek out loans for buying Christmas gifts.

    But this can be avoided with an appropriate saving plan. Meanwhile, there is no way to plan for your friend announcing her pregnancy and buying something cheap for her baby shower is not an option either.

    Similarly, unplanned trips can throw one’s financial plans out the window. Whether you’re flying out to attend a friend’s wedding or to see an uncle who’s going into surgery —these trips can often be quite costly.

    4.    Car Issues

    Having your own set of wheels is always a good thing. However, with your car comes expenses like property tax, inspections and maintenance.

    Sometimes a ride can give you other troubles as well, which is why anyone that owns a vehicle should have a car savings account. You never know when the engine will break down or any other repair will be needed.

    When that happens, you need to have a plan or you’d be left with a broken down car and a massive bill from the mechanic.

    5.    Stolen Items and Mugging

    No one wants to be at the receiving end of theft or mugging. However, life is unpredictable. Losing something valuable can be both personally and financially damaging.

    Replacing items is a tedious process especially when you’ve been a victim to a crime. Insurance and savings can come to your rescue in such situations.

    Still, it’s better to stay safe, take inventory of expensive items, save their pictures in a secured location and write down their values. In case they are ever stolen, you should take all the necessary preparations.

    unplanned expenses

    How to Pay for Unplanned Expenses

    Life is uncertain and things often don’t go as planned. Paying off unforeseen expenses might seem like a mountain to climb. Fortunately, a few tricks can make this summit a whole lot easier.

    1.    Reduce Your Variable Expenses

    It’s hard to completely overhaul your expenses on short notice. Although the process can be overwhelming, you would need to go through your statements, utility, credit card, receipts, loan payments and other spendings.

    Knowing where the money is going will put things into perspective. It will also help you reduce variable expenses such as electricity bill, car maintenance and grocery among others.

    Reducing these expenses will not be easy. It will require lifestyle adjustments such as avoiding transportation costs by carpooling, cooking at home instead of eating out and skipping the manicures for a while.

    When it comes to shopping for groceries, there’s always the option of seeking discounts. This will be easier online than in brick-and-mortar stores. Digital coupons can help you save on regular household expenses and bring down your variable expenses considerably.

    2.    Seek a Personal Loan From a Credit Union

    Credit unions are often the better alternative to commercial banks as the latter tend to have higher interest rates. The only catch is that membership is required in credit unions before one can apply for a loan.

    This requirement can be fulfilled by opening a savings or checking account with the credit union. What you have to examine is whether savings in interest is greater than added requirements.

    For anyone that’s already a member of a credit union, securing a personal loan with relatively lower interest rate shouldn’t be that much difficult.

    3.    Reach Out to Family

    Borrowing from family might be one of your better options. It’s extremely rare for a relative to charge interest on a loan. Also, it’s less likely for this loan to have a predetermined repayment model where you’d be repaying a fixed amount each month.

    But there is a downside to such a loan. Involving money in relationships can end up having some negative consequences. Research suggests that almost 45% of such transactions end up badly.

    One way to avoid such an ordeal is by making the loan somewhat official. Putting the loan in writing and setting some loose terms might eliminate the possibility that you will take things lightly. After all, whether you borrow from a cousin or a bank, a loan is meant to be repaid.

    4.    Utilize Your Savings

    While borrowing money to pay for an unexpected expense might buy you some time —dipping into your savings is a much more permanent solution. But for this, you need a cash savings account that can be accessed without any penalties.

    Beyond this, you need to ensure the money is not earmarked for some other purpose and whether or not you would be penalised for withdrawing it. An early withdrawal penalty is the last thing you need on top of a surprise expense.

    Keep in mind that withdrawing cash savings is preferable to investments. Generally, the investments are meant for savings that have medium-to-long term.

    5.    Sell Personal Items

    Quickest way to make some easy cash is by going through your personal belongings and selling items that are no longer needed.

    Look for clothes that no longer fit and sell them to local consignment shops. Organize a garage sale. Find collectibles like records, DVDs and action figures and put them up on websites like eBay. You can even advertise these on relevant Facebook groups to get better prices.

    Not only would you make some easy bucks doing this but also free your home from unnecessary clutter.

    Conclusion

    Among the things that are certain in life, unplanned expenses are right up there with death and taxes. There are infinite ways in which you can be faced with a money situation you were least expecting.

    A car accident can have you not only paying for fixing the vehicle but also treating any injuries you might’ve sustained. Similarly, a death in the family incurs ridiculously expensive funeral costs.

    Thankfully, these risks can be somewhat mitigated through a good insurance plan and by setting aside some savings. There are other ways to go about this as well. One can reduce their expenses, seek out loans and sell some unnecessary items to ease some of the burdens.

    The only option that’s not on the table is giving up and letting these expenses overwhelm you.

  • 11 Greatest Hacks To Get Your Family Finances In Shape

    11 Greatest Hacks To Get Your Family Finances In Shape

    Do you ever think to yourself that you know you need to make a change with the way your family finances are operating? You recognize your way of doing things isn’t working anymore, but you have no idea where to start.

    You are not alone. This is a topic that a lot of people out there really want to know.

    Millions of people feel the same way.

    Managing family finances is not an easy task for many people. Especially if there are reasons that your current situation is changing.  Budgeting for a new baby, moving, kid going to college, etc.

    family finances

    Keep reading to get some helpful hacks to get your family finance situation going in the right direction.

    Personal finance is a hard topic to ask anybody else because that can be a little invasive. So it’s super difficult to find out where we are on the spectrum.

    Are we doing well at managing our own family’s finances compared to other people? Are we really far behind on where other people in the same age range are with managing family finance? There are some easy basic solutions to managing your family’s finances. That way you can be sure you are on a great path.

    Success of how well you are managing your family’s finances is measured solely on if it is working for you or not. Nobody else can tell you exactly what processes to use when managing your monies. 

    Every household is different, but there are a lot of guides that help a ton. Being knowledgeable of the do’s and don’ts of great money management skills will go a long way for you.

    How To Get Your Family Finances in Shape

    Here are some hacks to help get your household finances in shape.

    Table Of Contents

    1. Implement Basic Math

    This is an important step in money management. Honestly, I do simple 1st-grade math for every month, to manage my family’s finances.

    I have a spreadsheet of our bills. It includes:

    • The bill
    • The amount of the bill
    • The day it drafts out of our bank account

    When the bills come in my email or in the mail, I update my spreadsheet right away with the amount due for that bill for that month. The spreadsheet is actually on my iPhone.  I use Google Drive and sync it to my phone so my spreadsheet is readily available for edits.

    Then I simply add up all the bills. I get a total. This is your total expenses.

    Then I total our income for the month.

    Now I subtract. Subtract income minus expenses. Voila!

    That is the magic math that I use. Works like a charm and works every time.

    It’s quite an easy concept.

    Don’t forget when you are adding up your bills, to include your gas, groceries, eating out and savings account additions.

    Those are bills too ya know 🙂

    2. Use Averages

    A lot of people forget that expenses such as gas, eating out, groceries, etc, are large bills that “go out of your bank account” every month.

    Be sure to include these on your spreadsheet.

    So many times I hear people say they don’t know where their money is going because there is more month than money.

    This is a big reason why. They aren’t accounting for the eating out, groceries and gas.

    I know for me, these alone are large expenses for the month.

    In the beginning, when I was trying to figure out a system that worked for our family, I used a simple tactic that really helped a lot. I still use it from time to time now. At the end of each month, I would add up all our purchases in 3 categories. 

    Eating Out, Gas, Groceries. 

    Then, I wrote those numbers down and would do that again at the end of the next month.

    After a few months, I took an average. So, I took the number in each category, and added them up and divided by how many months I had a figure for.

    That is the number to this day, that I use on my spreadsheet for bills.

    I don’t look at my individual bills as much anymore. I primarily used the add function on my spreadsheet. I just need to know how much money is going to exit out of my bank account that month. And then, I subtract expenses from our household income. Now I know what we have leftover.

    Like I mentioned before, don’t forget to put a savings account on your list of bills. That needs to happen.

    3. Contribute to your Savings Account Automatically

    Contributing to your savings account is one of the most important things that you can do for your family’s financial situation.

    It does not have to be a lot of money that you are putting in. It just has to be something. That way you are in a good habit of putting some money away.

    When it comes to a time that you can put a higher amount away, you will already be in the habit.

    A lot of times, people do not necessarily put money into savings. They leave it in their checking account and just keep a higher balance in there.

    Keeping your savings separate, and in a different account is a good practice, and it’s something you should think about if you are already not doing that. 

    Some banks allow you to automatically draft money from your checking account into your savings account.

    You can pick what day of the month the draft happens, and what amount. It’s great because it’s out of sight, out of mind. You don’t have to consciously log into your online banking to make a transfer. It is automatically going to happen. 

    credit cards

    4. Pay more than Credit Card Minimums

    This one is self-explanatory. If you can swing it, pay more than the credit card minimums. That way your principal balance will start to come down.

    A lot of credit cards have such high-interest rates, that when you pay the minimum, you aren’t making much headway on the actual balance.

    If you can, open a 0% credit card and transfer your balance to it. Just beware of high balance transfer fees. 

    5. Have a ‘No Spend Day’

    I love these days, but they do not come around often enough!

    If you can eat all your meals at home one day, you are doing great. 

    Plan a place to have quality family time for your family that doesn’t involve spending money. Maybe take a walk, take a ride in the car, etc. 

    There are a lot of ideas out there. If you can have a few “no spend” days, you will want to repeat it and that can only help your family’s financial situation.

    CNBC has a motivating article on how someone saved a ton of money by having “no spend” days.

    Just do not be fooled into thinking you can spend more on another day because you saved money on a different day. Lol.

    6. Unsubscribe from Retail Emails

    When you are trying to manage your family finances better, temptation with enticing retail emails does not help. All it does is make you want to buy!

    Their marketing teams really do a good job of making you want to shop when you open their email. Or even if you see their store name in your inbox, it still tempts you to want to shop.

    I recommend unsubscribing from a majority of them. If you want to shop, you will shop. 

    You do not need a constant reminder of the sales, deals and beautiful products every time you open your email. You are trying to get your family’s finances in shape, and this is a good practice.

    7. Cut out extras

    Sometimes you have to come up with some creative financing. If you see on your spreadsheet that there are some items that you could remove from your spreadsheet, that would be a great feeling.

    So do it. Give your money management a makeover and slash unwanted expenses.

    Is it gourmet coffee and eating fancy lunches at work that’s becoming a hefty bill? 

    Is it credit card payments? If it’s credit card payments, open a 0% interest credit card and balance transfer for a small balance transfer fee. That way you are making headway on your principal balance.

    Is it too high of a grocery bill? There are tons of ways to cut money spent at the grocery store. You just have to meal plan, write out your shopping list and don’t shop more than once a week.

    Once you see what all your bills are, on paper, then you can get a good idea if you are impulsive spending on too many extras.

    After you establish if you are spending too much on “extras“, then you can cut some of those indulgences out. Just until your family’s finances are managed better. Then you can add them back in, as you can.

    No shopping

    8. Check it off

    Once a bill comes out of your bank account, put a checkmark next to that bill on your spreadsheet.

    This way, you can easily add up how much more money is going to go out of the account that month. This is nice because, at the snap of a finger, you can have a number for how much more money for bills will exit the account.

    There are many times I have wanted to know at a moment’s notice, how much more money will leave my bank account this month. With the spreadsheet, I can easily add it up quickly.

    This is quite handy around the holiday shopping season, and knowing what not to waste money on.

    9. Pay Yourself First

    This is a good practice to adopt. This means that putting money into your savings account every month.

    You work so hard to pay other creditors, so why not pay yourself?

    A savings account is so valuable because it is there as emergency funds. 

    How nice of a feeling is that?

    So how do you put money into savings when you already come up short in the month?

    Pay yourself first, meaning put your savings account as a bill on your excel spreadsheet.

    This is the second item on my own list, next to my mortgage. No need to overwhelm yourself thinking that if you can’t put $50 away then there’s no point.

    If you can do $10, do $10 and don’t eat fast food one day.

    You will start to get into a great habit of putting money aside and not spending it. As you get better at managing household finances, you will be able to put away more.

    Saving money takes practice. It’s just like anything else!

    10. Pre-Spend Your Money

    Huh? Let me explain.

    When you use a spreadsheet to see what your monthly bills are, add them up and get a total dollar amount.

    When you see that total dollar amount, that is essentially “pre-spending” your money. You already know where some of your money is going to, for that month. This is so very important that you take a look at this.

    Otherwise, you have less of an idea where your money is going during the month.

    financial planning

    11. Meeting with a Financial Planner

    It is always a good idea to meet with a financial planner to manage your household finances. They will make recommendations for investment accounts, retirement, college savings accounts, etc, based on your situation.

    You are never too young or too old, to take this step.

    Don’t think that because you may be lean on money during the month that you can’t still partake in putting money into retirement or college savings.

    There is always a way to put a few dollars away. 

    You can find a financial planner by:

    • Word of mouth
    • Asking your friends
    • Searching the internet

    I strongly recommend a financial planner. They will help you with things that you were not doing on your own. Check out this article from the balance.com on how to find the perfect financial planner.

    family finances pinterest

    Related Posts:

    Andy Masaki

    Andy Masaki

    Guest Author

    Andy is a blogger at Penny Less Dad and a financial writer associated with the Oak View Law Group. He is a debt expert and a member of several online forums where he shares his advice as well as tips to lead a financially independent life.

    • How To Get Out Of Debt Fast

      How To Get Out Of Debt Fast

      Do you feel like you just can’t get ahead with your debt? You work so hard all week long to earn a paycheck, and it never seems like it’s enough to clear your debt. It can be a very deflating feeling. You need a get out of debt plan.

      You are paying minimum balances on your credit cards, and the amount owed never seems like it’s going down. What gives?

      There is 1 main step that you can do, to start tackling your debt and paying it down. I am going to show you all about that one step and how you can use it to get out of debt.

      If you want to know a few other tactics that you can use to start eliminating your debt and some strategies you can use to pay off your debt and prevent it from happening again, then keep reading.

      First, let’s lay the foundation of healthy ways to handle your household money. Without a solid game plan and foundation, you will still feel like you are spinning tire with your finances.

      How to get out of debt fast

      Surefire Ways To Get Out of Debt Fast On Your Own

      Here are some great ways you can get on an effective path to clearing your debt.

      Understand and confront your debt

      The most important step in laying a foundation to pay off debt is to understand what all you owe.

      There is no easy path to managing your debt if you do not have an understanding of what all you have outstanding.

      Here’s how you can start to organize your debt:

      • Make a list of everything that you owe and how much
      • On your list, include the interest rate
      • Write down your minimum payments
      • Write down the due dates
      • Take the time to look up your usernames and passwords to your credit cards and loans so that you can get the information you need.

      If you take the time to write this all down in front of you, it will allow you to see the big picture of your situation. It could also alleviate some feelings of overwhelm because you can see it all in one spot.

      Take the initiative to pull your credit report so that you can see who all your creditors are and how much you owe.

      Get organized to get out of debt quickly

      Now that you have a good understanding of what all you owe, you can organize what day of the month you pay them. This will help you avoid late payments because you won’t forget to pay it.

      • Update your email address on your accounts that you owe the balances to. This will help those companies stay in touch with you so that you don’t miss any important communications.
      • Take the time to go through your statements and be certain that there aren’t any errors as far as charges.
      • Have a good plan as far as what day you make your payments. You can coordinate with when you get paid.

      Beware of doing all this work to make a good list to get organized, and then not ever referring to it again. You need to look at your list from time to time.

      It will also feel empowering when you get to change the amounts of your debts on your list. You should do that about every 3 months.

      Use a calendar system so that you do not forget to pay some of these debts per month. You can set them up online for automatic payments, or do one-time payment every month, etc.

      Using some kind of phone reminder, or written down on a calendar somewhere is going to be imperative.

      If you forget to make a payment, do not wait until it is due again next month. By that time, it is possible that the creditor already reported it to the credit bureau.

      Instead, make the payment as soon as you remember.

      How to get out of credit card debt

      How to get out of Credit Cards Debt

      Take a look at all your credit cards that have balances on them, and see which one has the highest interest rate.

      The one that has the highest rate, is the one that is eating up a lot of your hard-earned money.  The higher the interest rate, the harder it is to get rid of the balance owed.

      What do I mean by that?

      This means that more of your money that you pay on this card each month, is going toward a lot of interest instead of the principal balance. Ugh! Not what you wanted to hear huh.

      Thankfully, there are some steps you can take to tackle this debt. Credit card debt can be tough to get under control. Actually, managing your family’s finances, in general, is tough. There are some easy basic solutions that do exist, for how to manage your family’s finances.

      Let’s talk about that 1 step that is instrumental in getting rid of credit card debt.

      Tackle Your Card that has the Highest Interest Rate

      A great plan to tackle credit card debt is to go after the highest interest rate card that you have.

      In the long run, if you end up making payments on a smaller interest rate card, you are still making headway. However, you are then not taking full advantage of how you could be using your money.

      It is better to tackle that high-interest card and get that taken care of.

      Make the minimums on your other cards, and go after the higher rate card as aggressively as you can.

      You will save a lot of money by knocking out this high-interest card.

      Tip:

      Attack one credit card at a time. Pay the minimums on other cards and put all extra money you have, aggressively onto the highest interest rate card.

      Request A Lower Interest Rate

      Call your credit card company and ask them to do a review of your account and request a lower interest rate. A lot of times, you are due for an account review anyhow, and you can potentially secure a lower rate with the company.

      If you do not take the time to call and ask them, then it will never happen. A credit card company will usually not mail you a letter to tell you that they lowered your rate. So, you have to take the initiative and call and ask them. The worst that can happen is that your request is denied.

      If you succeed in this and get a lower rate, then you are well on your way to getting that card paid off! Even more of your monthly payment will be going toward your principal balance now, Woot! That’s the goal!

      Check out this article that has a great script for what to say when you call the company to ask them to lower your rate.

      Tip:

      Don’t assume a credit card company won’t give you a lower rate. Take the initiate and call to ask them.

      Don’t Use Your Cards

      Have you ever heard the expression, cut your cards? Ok, well, cut your cards!

      If you are trying to get rid of your credit card debt, then do not use them anymore. It will defeat the purpose of making your payments. Most credit cards have such high-interest rates, that it’s hard enough to get your balance to come down after making a payment.

      If you continue to make purchases on your cards, then any payment you make is going to be negated by a purchase. So, don’t do it! It is so easy to be an impulsive spender, and just “put it on the card”. We have all done that.

      Since you are trying to get your credit cards under control, you have to make some adjustments to spending habits.

      shopping

      Change the habits that got you into debt

      A really good place to start getting out of debt is to stop doing whatever it was that got you into debt. For some people, it was not avoidable. But for others, it was definitely avoidable. If you are in the category of, it could have been avoided, be honest with yourself about how it got like that.

      Then change those behaviors.

      Keep accounts in good standing

      We all understand that there is only so much paycheck to go around. It is difficult to repay balances that have already gone to collections.

      Keep the accounts that are in good standing, good. Those are the ones to focus on and where to apply money to.

      If you try to pay the collection items and charge offs first, then you risk not having enough money to make payments on the accounts that are good.

      Then what could happen is that those good accounts start to have late payments and such.

      So, focus on the good accounts over the ones that are already not good.

      Cut Spending

      There are some ways that you can adopt more of a frugal lifestyle in order to help get out of debt.

      Here are some ideas for what you can skimp on:

      • The cable. We live in a society where so many movies and tv shows can be found online now. Why not cut the cable bill and use that money to put towards paying your monthly debts.
      • Eat at home more. Meal planning and grocery shopping should be your new best friend. I know so many people say they are terrible at meal planning. If you just spend 20 min every Sunday to pick out what your family is going to eat for the week, you can make a grocery list and go shop. Then you can cut the eating takeout expense.
      • Save with coupons. Take the time to use coupon apps on your phone to help you find deals in your local grocery stores.
      • Break up with expensive habits or hobbies. Tobacco use, gourmet coffee, fast food, lottery tickets. Whatever it is, stop doing it for right now so that you can help yourself get out of debt.
      • Find free ways to have fun. The library has DVDs, books and tons of other stuff you can sign out. For FREE! If you join your local community email list, they are always advertising free things going on in the community.
      • Have as many “no spend” days as you can. Pack your lunch for work, cook dinner at home and don’t spend money on anything else that day.
      • Explain to your family that you are on a budget. Once you explain to everyone in the house that your spending is going to change, they are more apt to get on board.
      • Tell your kids no. Once you explain to them that the family is on a budget, don’t buy them whatever they want, whenever they want.
      • Shop for clothing at discount stores. Plenty of towns have consignment shops or other awesome places to shop that is for a fraction of the cost of a department store.
      • Use Facebook marketplace to find free stuff. People are always posting items for free. Take advantage of it.
      • Sell some stuff. You can sell some items in your house that you could spare. Hit up online resources or even have a yard sale.

      Hopefully, you have some tools in your tool belt that are going to help you tackle your debt. Being in debt causes a lot of emotions such as overwhelm, frustration and a whole slew of other ones.

      Just be sure that you are working hard and smart to correct your situation, and you will come out great.

      Keep your financial goals in front of you and it will strike great motivation for you to keep plugging away.

      Andy Masaki

      Andy Masaki

      Guest Author

      Andy is a blogger at Penny Less Dad and a financial writer associated with the Oak View Law Group. He is a debt expert and a member of several online forums where he shares his advice as well as tips to lead a financially independent life.

      • Money Saving Tips For Homeowners

        Money Saving Tips For Homeowners

        Money Saving Tips for Homeowners

        Being a homeowner is a rewarding experience. However, it can come with extra expenses that you may not have been prepared for when you signed your mortgage. Don’t let routine maintenance and other regular expenses break the bank. Use these money-saving tips to help you out around the house.

        Do an Audit

        Did you know that many HVAC companies will conduct a free or low-cost home energy audit on your home to see where you are doing well and where you have opportunity to improve? They don’t take long to complete and can shed light on areas around your home where you may be able to improve energy costs. Home audits can potentially save you thousands of dollars down the road.

        Be Prepared

        Your home is an investment, and if you’re like most homeowners, you want to protect that investment. Purchasing homeowners insurance to protect your home in the event of fire, theft, or other damage can not only save you money in the event of an emergency, it can also provide you with peace of mind knowing you’ll be taken care of. Additionally, you can install home security systems too.

        money saving tips for homeowners

        Replace Bulbs

        Incandescent bulbs aren’t as energy-efficient as you may think, and in fact, could be costing you. Make the switch to LED bulbs around your home, and you should see significant savings— sometimes up to 20% on your monthly energy bill.

        Insulate

        Providing your home with the proper insulation can keep your home warm in cooler months by trapping excess heat and preventing it from escaping your home. In warmer months, insulation can also keep your home cool by preventing the sun’s rays from passing through into your home. While it can be expensive to insulate your home up front, it can save you quite a bit of money down the road.

        Use Less Water

        Each day, we waste thousands of gallons of water. However, you can take measures to prevent the amount of water you waste by installing low-flow shower heads and energy-efficient toilets which use much less water than traditional fixtures. Making these simple moves can reduce your water waste and your monthly bill.

        Lower Temperatures

        At night and when you aren’t home, you likely don’t need to have your thermostat turned up very high. Program your thermostat to automatically adjust its temperature to lower levels when you aren’t around to help save on your heating bill. You can also invest in a smart thermostat, which will let you monitor your thermostat from your phone or even learn your habits and adjust itself based on your family’s activity.

        Replace air filters

        Your HVAC system should have its filters replaced twice a year or more if you have pets. When your filter gets too clogged, it can’t run at max efficiency which may cause your unit to malfunction and your monthly energy bills to skyrocket. Have your filter replaced regularly to keep your system running at optimum efficiency and to reduce the likelihood of an HVAC repair.

        When you use these money-saving tips, you should have not only fewer repairs to worry about making, but you should also have a thicker wallet as a result. With all your savings, you can focus on other projects, like the home renovation you’ve had your eye on.