Ways to Save Money as a Homeowner
Owning a home is incredibly rewarding, but costs can add up as you pay for mortgage insurance, homeowners insurance, taxes, utilities, and other expenses. Whether you just bought a home or have owned your home for some time, there are many things you can do to save money for years to come.
- Make your own cleaning supplies by using products in your pantry, such as baking soda and distilled white vinegar.
- Upgrade to LED light bulbs as they last longer, are energy efficient, and run much cooler compared to incandescent light bulbs.
- Dial down the temperature gauge on your water heater to 120 degrees Fahrenheit or less.
- Keep air moving in your home with ceiling fans (use them year-round).
- Use power strips to turn off appliances, TVs, computers, and other electronics with the flip of a switch (don’t use too many as it’s a fire hazard).
- Replace dryer sheets with reusable wool dryer balls.
- Insulate the attic to ensure heat doesn’t escape.
- Upgrade to energy-efficient appliances as they can use less electricity than their counterparts.
- Turn off the lights when you leave a room.
- Caulk and weatherstrip doors and windows to prevent air from leaking.
- Keep food fresh and stop wasting energy by setting your refrigerator’s temperature between 35 degrees and 38 degrees Fahrenheit.
- Wash your clothes in cold water (it keeps colors from fading and clothes from shrinking).
- Repurpose old furniture instead of buying new (reupholster chairs, update cabinet hardware, repaint furniture, etc.).
- Close closet doors so you are not needlessly heating and cooling closet space.
- Start a vegetable garden to bring cheap, organic food into your home. (Plus, it’s a fun hobby!)
- Purchase affordable air-purifying houseplants, so you don’t have to use an expensive air purifier.
- String a clothesline to dry your clothes.
- Change your furnace filter often.
- Plant trees to shade your home.
- Install a programmable thermostat.
- Fix running toilets as they waste water.
- DIY what you can!
Although homeownership comes with several expenses, you can manage them effectively and set yourself up for financial success. Put some more money back in your pocket by implementing some of these tips, starting today!