There is never a better time that the present to save money!!
Yet, saving money "smart" is most important.
Below, is an article received from Al Clark. It is dead on helping you save money in 2015.
Yet, you must be smart about it. For example, though interest rates are going to rise, not every home owner is a great candidate for refinancing the house. For example, if you bought in 2005 and have a 5% mortgage, you would be not smart to pay closing costs to lower the rate to 4 or 4.5%. The payback time will be very long. If an individual has a 7% mortgage, that person should act immediately.
You will see the same true on each Home Resolution. All are excellent ideas but you must evaluate for your own situation or, as in the case of insurance, be sure you are getting at least the same coverage(if not better) for a better price.
I sincerly hope you can save enough that a vacation or a spur to your savings can occur!!!
4 New Year’s 2015 Home Resolutions That Can Save You Big Money
If your New Year’s resolutions include saving money, we've got four great ways for you to achieve your goals:
If you haven’t yet refinanced your mortgage or home equity loan to take advantage of today’s low interest rates, there’s still time to lock in a great deal. Jay Brinkmann, chief economist for the Mortgage Bankers Association, expects mortgage rates to rise to 4.8 percent in 2015, and to 5.4 percent by the end of 2016.
If your current mortgages exceed your home’s value, you may still be able to refinance using one of the federal government’s Home Affordable Refinance Program.
Change Your Furnace Filters
New Year’s resolutions don’t get much easier than vowing to change your HVAC filter once a month in 2015 to increase your furnace’s life span.
To make this task easy, buy 12 filters and store them in the furnace room so they’re at hand when you need them. Put a reminder on your calendar, or tie this chore to another monthly chore, like paying your household bills, so you remember to do it each month.
Seal Those Home Air Leaks
Sealing the air leaks in your home is one of the most cost-effective ways to cut your utility bills. Check to make sure your windows are caulked around the outside of the trim on the inside, and outside, of your home. Use foam to fill large gaps where the plumbing, electric or cable comes in the house.
Shop Your Insurance Policies
Yes, it’s a bother to shop for insurance, but if you haven’t checked what’s out there lately, you may be overpaying. The easiest way to get this chore done is to delegate. Copy the declarations pages from your current home, auto, life and umbrella policies, and ask an independent insurance agent to look for a better overall deal for you.
You can also visit your current agent, or call your insurance company and ask for an annual review to make sure you've got the right coverage and are getting all the discounts for which you qualify.
If you need a referral to a good insurance agent, mortgage loan officer or home handyperson, please contact me.