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Cost Saving Tips for a New Homeowner

When you’ve just invested in something as big as a new home, being smarter about your money is so important. Here are some tips on how to cut costs throughout the year.


  1. Utilities – If you have a programmable thermostat, use it. Replace your air filters regularly so that your HVAC system runs most efficiently. Replace incandescent light bulbs with CFLs or LEDs. You won’t believe how much money you’ll save.


  1. Furniture – Check Craigslist or other online services for used furniture. You’ll be surprised at what people are willing to sell for cheap. Also, if you’re making room for new pieces, try selling your old ones.


  1. Home goods – Buy generic products whenever possible. Buy brand names for the stuff you care about, but go generic for everything else. Areas you may be able to save money on include: toiletries, food, certain clothes, and pet supplies.


  1. Paint & slipcovers – Never underestimate the effect of a fresh coat of paint or a new slipcover. They can change a room – or a piece of furniture – instantly and affordably. Same goes for new handles & knobs in the kitchen.


  1. Maintenance – Understand your home’s systems. Learn to do as many things yourself as possible. Many home maintenance jobs aren’t as intimidating as they seem. If you still feel unsure, take a class on basic plumbing, carpentry or electric.


  1. Cable/Phone – Haggle with your providers. Call around to competitors to find the best deal. Then call your provider up and ask for a discount. Mention the competitor’s prices. You could save hundreds if you get the right promotion. You could also cut the cord completely. Try Netflix or another cable alternative if you’re tired of excessive channels or ridiculous bills.


  1. Food – Take out meals are convenient, but the costs build up quickly. Instead, start a veggie garden, and grow your own food. And use a slow cooker. Investing in a garden and/or a slow cooker and you could save thousands over a year.


  1. Finally… Don’t miss sales! Know when the big sales are if you need to buy or replace mattresses, linens, appliances, etc. Most retail establishments have set schedules for when certain items go on sale.