5 ways you’re throwing away money
If you’re like most Americans, you need every penny you can get. Making ends meet at the end of the month is a constant challenge, but it can be next to impossible to make extra money. That’s why it’s so important to watch everything that you spend. Odds are good though that you’re wasting money every month. If you do any of these things, take steps to fix it.
You’re heating and cooling your home too much. Heating and cooling are a huge part of your utility bill. Sadly, though, most of that air is escaping through windows, doors, and other leaks. Take an afternoon to fix your weather stripping and plug those holes. After that, consider investing in a programmable thermostat. This will help you to prevent your unit from running when no one is in the house.
You’re paying too much for your gadgets. Phones, tablets, and other gadgets that require subscription plans and/or internet connections in order to run can be a huge drain on your budget. Until you’re back on solid financial footing, cut the plans that are tied to these devices. Switch to fee for service and no contract plans for the devices that you have to keep.
You’re paying too much in interest. If you have credit cards or personal loans with interest rates in the double digits, you’re paying too much. Consolidate your debt with a debt consolidation loan and you’ll be able to lower your interest rate and trade in your varying monthly payment for a steady, lower payment.
You’re getting lazy with home maintenance. Sprucing up your yard and making small repairs does more than make your house look good, it also ensures that you won’t have large repair bills down the road. Clearing debris from the outside of your property reduces your likelihood of attracting pests, while interior repairs can do everything from cut back on utility costs to save you thousands on a new roof.
Review your finances. After consolidating your debt, you also want to review your budget and take the time to close old accounts that are costing you money. Also review your work retirement plans for ways to save money on fees.