Gulp.
But here’s the thing about housing costs, and in particular those dreaded monthly bills: you can easily reduce them! What do we mean by bills? We’re talking about costs like your monthly electricity, cable, and grocery bills – PLUS lowering the biggest expense of all: your monthly mortgage payment.
Pretty enticing, right? And yet, this is just the tip of the iceberg.
We created a comprehensive guide that will walk you through how you can keep more money in your pocket on a monthly basis. It’s broken up into two sections: How to Put Less Money In and How to Get More Money Out.
So if you’re feeling a little overwhelmed at the financial weight of your household expenses, you really need to get your hands on this:
How to Put Less Money In
Electricity
Average cost: $183/month
How you may be able to lower it:
- Switch to energy-efficient light bulbs
- Install a programmable thermostat
- Check for peak energy times
Gas
Average cost: $82/month
How you may be able to lower it:
- Lower your hot water temp
- Install a programmable thermostat
- Replace your furnace filter
Water
Average cost: $40/month
How you may be able to lower it:
- Fix your leaky faucets
- Install low flow fixtures
- Take shorter showers
Cable/internet
Average cost: $100/month
How you may be able to lower it:
- Downsize your cable plan
- Cut the cord
- Negotiate
Food and groceries
Average cost: $583/month
How you may be able to lower it:
- Buy in bulk
- Delete food delivery apps
- Make a grocery list and stick to it
How to Get More Money Out
A mortgage refinance
If you didn’t know, refinancing your mortgage is the process of replacing your current loan with a new one, and usually it’s to accomplish one or more of the following:
- Lowering your monthly payment
- Shortening your loan term
- Getting cash out for major expenses
Home equity will play a part in maximizing your mortgage refinance, and this guide will also answer these questions:
- What’s equity and why’s it important?
- How can you improve your equity?
- What home renovations have the highest ROI?
Ready to see the full picture of how you can cut these housing costs and how a refinance can be a financial game-changer for you?
