Each changing of the seasons brings transitions and new opportunities - including the chance to review and revise some strategies to save your hard earned money! Your Shuswap home is a big investment, and some of those expenses are on-going costs that continue well after closing day on your dream home. Here are a few ideas to get you started on smart ways to help save you money.
1. Home Utility Review
Complete a full review of your monthly recurring expenses, from phone and video streamline services to utilities and home security investments. In an effort to save money on your monthly utility bills, there are a couple key items you can check within your home to ensure optimum efficiency. Plus, as a bonus, these tips from EcoHub will also help you make a shift towards more sustainable living by reducing your carbon footprint.
Swap Out Old Appliances: If your fridge is over 20 years old, it’s time to replace it. Older ones are electricity hogs and are costing you and the grid more to run. Energy Star Rated appliances are a better choice - just make sure you dispose of your old appliances properly.
Check for Air leaks: Drafty windows can cost you big time. In fact, you could be wasting between 25% - 30% of your energy heating and cooling your home if you have major air leaks.
Have Your Ducts Inspected: Are they leaking air? Once a year, schedule a professional heating and cooling inspection. You can do this at the beginning or end of the winter. A leaky duct can reduce your system’s energy efficiency by 15%-40%. ⠀
Take a Look in the Attic: Check your attic – is it well insulated? A poorly insulated attic will cost you money! If the insulation is lower than the joists, you may need to add more.
2. Create a Realistic Budget
With so many changes this past year, and in some cases, your job stability being in question as more Covid restrictions and announcements come down the pipeline, it’s a good idea to revisit your budget to make sure you’ve made any necessary adjustments to income or expenses that have shifted. Are there areas you can cut back on for spending? Have you made a transition into a new role that brings in more money, which allows you to increase the amount you put into savings? Have your budget reflect current, realistic numbers, so you’re in the know.
3. Mortgage Review
Last, but certainly not least, another strategy to save on expenses related to your home is to have your mortgage professional do a thorough review of your current mortgage - or get a second opinion prior to your mortgage renewal - to see where there may be an opportunity to save on rates, fees, or monthly payments.
If you’re interested in learning more about your mortgage options, let’s connect today; call 250.804.9874 or email info@chadeliason.ca and we’ll determine which strategies could be applied to save you more money this spring - and into the future!