Do you have an extra thirty minutes to save some money? Most of us would say yes, we could spare a few minutes if it would save us some money. Well here are a few quick home fixes that will save you money in the long run. Swap out your old, inefficient showerhead for a low-flow, two gallons per minute showerhead. You will save over … Continue reading Quick Home Fixes That Will Save You Money
Before making a big purchase, consider the hidden fees with each. You may think you have enough money to afford the monthly bills, however there are often times many “hidden” costs we forget about.
- Owning a home – utilities, furniture and ongoing maintenance are hidden costs many forget to consider. You may have enough to make your monthly payments on your home but what about having furniture? Will you buy the furniture all at once or will you tack this on to your monthly payment? Make sure you have a plan before making as large as a purchase as a new home. Other hidden fees to consider: moving expenses, homeowners association fees, landscape upkeep, closing costs, appraisal fees, home inspection, and pest control – just to name a few.
- Buying a vehicle – this is one of the largest and most common purchases with hidden costs, besides buying a home. Before you decide you have enough to make your monthly car note, don’t forget insurance and other fees – this may seem obvious but some of us do forget! These include: gas (which depending on the type of vehicle, can be up to 50 or 60 dollars a tank and may require filling up weekly), maintenance (oil changes, tires, windshield wipers), batteries and required inspection stickers every year. Inspection stickers average about $15-$20 and oil changes cost about $40 every three months. Continue reading “Thinking of Making a Medium-to-Large Purchase? Consider the Hidden Costs First”
Expense 3 – Appliances, tools and electronics: The reality of life is that things break. They do so frequently, often in bunches, when we least expect it, and at the most inopportune time. That’s why it’s important to be prepared for the replacement cost of critical appliances, tools, and electronics. Consider the lifespan of a typical laptop – 3 to 5 years, perhaps. Are you prepared to purchase a new computer once your current one breaks down? Continue reading “Unexpected Expenses You Can Count On: Week 3 of a 4 week discussion”
There are budget categories in life where sooner or later, money will be spent. It may be $500 on a repair this month, and $400 on a new product next month. Over the course of the year, we can average out and prepare for these expenses.
There are four categories of unexpected expenses that will be addressed one at a time over the next four weeks, so be sure to keep up with us for these valuable money tips!
Expense 1- Auto Repairs: Auto repair costs, or at least “reasonable maximum costs” can be predicted with relative accuracy based on the age of your vehicles and whether warranties continue to be in effect. For an 8-year old car, expect to spend up to $1,500-$2,000 on repairs and regular maintenance, and would like the car to make it beyond 100,000 miles. For a 3-year old car, the number is much smaller, perhaps $500 per year for things like tires and oil changes, although with the warranty now expired, you will need to re-consider this amount. Continue reading “Unexpected Expenses You Can Count On: A Four Week Discussion”