12 Inflation-Busting Tips for Homeowners
Inflation is at its highest level in over 40 years! Between the pandemic, supply chain issues, and shortages of goods and workers, economists see no end in sight as today's eye-popping prices are expected to keep rising.
So what can homeowners do to combat inflation and save some money?
We've compiled a dozen great ideas for helping you save some cash and fight inflation.
1. Try the 7 Day "No-Spend Challenge"
The "No-Spend Challenge" is a great way to save money and help you learn about your spending habits. There's only one rule - don't spend any money for 7 days! You'll find that it can be incredibly fun to figure out creative ways to avoid spending, and you'll have money left over at the end of the week to pay off debts or put to your vacation fund. It's a win-win!
2. Create a Budget ... and Stick to It!
It's impossible to save money when you don’t know how much you are spending. Creating a budget helps you keep track of where our money goes each month and where you can afford to save. There are many free apps available or online tools such as Google Sheets which make it easy. Once you know where your money is going, you can start to figure out what is a necessary expense and what you can trim.
3. Lock in a Low Mortgage Payment and Save $284 per Month
Posted in Savings 101
Your mortgage is your largest monthly bill so it's important that your payment is as low as possible. Interest rates are still near historic lows but with inflation hitting levels not seen in 40 years mortgage rates are on the rise. You need to lock in a low rate as soon as possible! According to a recent study, eligible homeowners can save $284/month ($3,408 per year) should they decide to refinance today.
Click to Calculate New Payment
4. Cancel Those Unused Subscriptions
Still paying for a streaming service you haven't watched in six months? How about that recurring Amazon order that you accidentally signed up for? Take a few minutes to review your credit card bills and ditch those unused services. You'll be surprised at how much you'll be able to save.
5. Use the "Amazon of Insurance" to save on your Homeowners Policy
Rates for the exact same homeowners insurance coverage can vary tremendously from one company to the next. Research has shown that homeowners could save $1,000 or more a year by finding the cheapest rate. Use this site, which has been called the "Amazon of Insurance" to compare different rates. Compare insurance quotes from at least three companies, and you may be able to find another insurer that can cover you for less.
Click to Compare Rates
6. Cut Your Kitchen Sponge in Half!
Looking to save some cash on everyday items? You're in luck! Half of a sponge packs as much grease-fighting ability as a whole sponge, so when you cut those sponges in half, you'll be able to double your cleaning ability and stretch your dollar a little longer!
7. Install New Windows and Cut Your Energy Bills
According to the U.S. Department of Energy, energy efficient windows offer significant savings ... an average of $126 - $465 per year! This site can help you save thousands on getting your windows replaced by securing special rebates, discounts, and incentives available in your area - which could lead to paying $0 down! If you meet at least 2 of these requirements, you may be eligible for huge savings:
- Own a home
- Windows are over 6 years old
- Live in a qualified zip code
Click to Check Eligibility
8. Use an Old Soda Can to Boost Your Wi-Fi Signal
Frustrated by a weak a weak Wi-Fi signal? Fix it with an old soda can! Just cut off the bottom of a soda can, slice off the lid (make sure to be careful!) leaving an inch or so connected to the can. Cut and unfurl the can, slip the mouth of the lid over your router’s antenna, and you'll instantly get a better wi-fi signal ... without spending money on an expensive booster!
9. Get up to $8,517 in Government Incentives When You Go Solar
Power companies are fighting a losing battle and they're blaming savvy customers who are taking advantage of massive government savings programs. More specifically, they are blaming Government Solar Incentives that are encouraging homeowners to use clean energy by reducing solar power projects to $0 installations. The days of high electricity bills are coming to an end.
Click to Check Eligibility
10. Never Pay Full Price for Gym Membership
Gyms want you to believe that their membership fees are a set price, but there is usually wiggle room. Ask for a couple of free months or a free personal training session, or negotiate the number of guests passes they'll give you. Ask if you can pay upfront for the year to save money. If your gym isn't willing to play ball, get a few dumbbells and get a sweat going with a free online workout instead!
11. Plan Your Grocery Shopping
Hitting the supermarket without a plan leads to overspending! Save money by creating a “master” list of frequently purchased items so you can quickly check off what you need on your next shopping trip. Before you go, check your fridge, freezer and pantry for items you already have on hand. Be smart, stick to the list, and make sure to also sign up for the store's loyalty program, which can lead to $100s of dollars of savings per year.
12. This Auto Insurance Hack Could Put $712 Savings Back Into Your Pocket
Gas prices are through the roof! But there are ways to save on your car. The average driver can save $712 when they switch auto insurance providers? If you haven't checked what you can save, it is crucial to do it now. Click here to check!
