Home Repairs
Lately I have had more free time at home and have noticed that we had a lot of projects that we have been putting off for quite some time. The paint on our house was peeling, our roof is bare in spots from wind damage, we haven't ever serviced the A/C (I didn't know we were supposed to do that), and then our faucet in the kitchen and garbage disposal started leaking large amounts of water. Before spending more time at home I never knew about any of these issues, I was blissfully ignorant. I have had countless people out to our home in the past few weeks and everything that needed fixing will be fixed by the end of today, but it just reminded me how much goes into home ownership. Lots of extra expenses. So I have come up with a small list on great ways to save money on home repairs.
1) Home Warranty - We have a home warranty and I was always unsure if this was a good idea, it is. You spend roughly $500 a year for the service but if something in your home dies they come to your rescue. Heat, A/C, Plumbing, Appliances, this really is an amazing service to have and I highly recommend checking out the different home warranty companies in your state.
2) Savings - A really great thing to have is a home repair savings account. What you do is deposit a set amount of money into the account each month and do not touch it unless it is a home repair. A good way to keep your hands off of the account is to not link it to any other account as overdraft protection and not connect it to online banking. Have it be an account you either have to go to the bank to get the money or call the 800 number (most bank 800 numbers are 24/7, in case you need to access the money in a hurry).
3) Cash on Hand - Always have a little bit of cash on hand, just for emergencies. Do not have too much that would be a huge loss if you were robbed, just enough to cover little bits here and there (you can always replenish).
4) Extended Warranty Bucket - Whenever you are at the store and they ask you to buy the extended warranty and you say "no", take that amount and put it in a savings account, bucket or bin at home. Then when your vacuum dies you can buy a new one with the money in your bucket.
I hope you find these tips helpful. Have an amazing Monday!!
1) Home Warranty - We have a home warranty and I was always unsure if this was a good idea, it is. You spend roughly $500 a year for the service but if something in your home dies they come to your rescue. Heat, A/C, Plumbing, Appliances, this really is an amazing service to have and I highly recommend checking out the different home warranty companies in your state.
2) Savings - A really great thing to have is a home repair savings account. What you do is deposit a set amount of money into the account each month and do not touch it unless it is a home repair. A good way to keep your hands off of the account is to not link it to any other account as overdraft protection and not connect it to online banking. Have it be an account you either have to go to the bank to get the money or call the 800 number (most bank 800 numbers are 24/7, in case you need to access the money in a hurry).
3) Cash on Hand - Always have a little bit of cash on hand, just for emergencies. Do not have too much that would be a huge loss if you were robbed, just enough to cover little bits here and there (you can always replenish).
4) Extended Warranty Bucket - Whenever you are at the store and they ask you to buy the extended warranty and you say "no", take that amount and put it in a savings account, bucket or bin at home. Then when your vacuum dies you can buy a new one with the money in your bucket.
I hope you find these tips helpful. Have an amazing Monday!!
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