4 Easy Money Moves Saavy Homeowners Are Making While Home Prices Continue To Soar
You know the saying “the rich get richer?” There’s some truth to it because they know how to make their money work for them. They know all the secrets to slashing their monthly expenses and saving even more and we’ve gathered some of the easiest changes you can make that could help improve your financial future.
1. Lower Your Monthly Mortgage Bill
If you haven’t refinanced your home yet for whatever reason, now is the time because rates have been near historic lows for a while and they’re expected to go up this year. Refinancing into a lower rate can save homeowners thousands of dollars in interest, which is basically a fee for borrowing money, so essentially you are lowering the fees for your loan.
If you don’t think you qualify or you don’t know if it’s worth it, the only way you’ll know for sure is by speaking with a professional. If you don’t know where to start, we can help you find experts that want to help.
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2. Reduce Your Home Insurance Bill
Similar to auto insurance, homeowners should shop around for home insurance. Insurance companies rely on their clients being on auto-pilot, paying for their policies month after month without really thinking about it.
People don’t realize there are companies out there who can offer the same coverage and protection at a radically different price and it only takes minutes to get quotes. Plus, if you switch and bundle your home and auto insurance together, you can get an even bigger discount.
By being lazy, homeowners who don’t switch are at risk of losing out on up to $1,000 per year. We’ve done the hardest part of comparison shopping for you so you get the best deal without any sacrifices on your home insurance at no cost to you. All you need to do is answer a couple questions and pick what works the best for you.
3. Re-evaluate Your Auto Insurance
If you’re not driving as much as you used to, you should definitely take a second look at what you’re paying for every month. Chances are, you’re paying for all the extra bells and whistles you don’t even need that could be going towards your savings.
You should also be checking out other companies and what discounts they can offer you because there is no reward for being a loyal customer in the insurance industry. You can only get a cheaper price by qualifying for discounts and very few providers offer a loyalty discount.
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4. Protecting Your Family Sooner Than Later
While we like to be optimistic, there are times when you need to face the facts and accept reality and unfortunately, anything can happen to us at any time. Have you thought about protecting your family if the worst was to happen suddenly? Would they be able to keep up with the mortgage payments or would they have to sell the house?
It’s important to think about providing for your family which is why life insurance is crucial. It may not seem like something you need to worry about now because maybe you’re still young, but starting younger is actually the smartest move because you’re currently the youngest you will ever be.
By starting as early as possible, you can lock in your price well into the future even as your age and health start taking its toll. If you wait to do this much later, you’ll wish you had prioritized this earlier once you see how much more costly it is. With policies that cost as little as $11 per month, there is no excuse to not have your family’s best interest in mind. Click here to secure your family’s future.