Ways to Cut Expenses

COVID-19 has many Americans wondering how they can save money. There are many going through a tough time financially during this season, and you are not alone. Whether you’ve been effected by the hot and cold market days or you’re laid off during this time, we are here for you. Here are some ways to take this time with stride as the days come.

  • Refinance your home. We cannot stress this enough! With mortgage rates at an ALL TIME low, your home payment can lower and your quality of everyday life can improve.
  • Consolidate debt and lower all interest fees. Get rid of multiple credit cards!
    • You can also consolidate insurance premiums, cell phone plans within the home, or even cable and internet packages! These are necessities in this day and age, but maybe try the switch from a cable company to a streaming service. Or, check the difference in price offered by your phone company to package internet with your phone costs.
  • Eat at home! Purchasing meals and preparing for the work week ahead will save you more than you know. This is a major money saver for Americans.
    • Additionally, see where you can stand to purchase generic on groceries. We love Aldi for this! They have great options for shelf stable foods and low prices of meats and dairy. When you shop, go with a list prepared and DO NOT DEVIATE!
    • Buy bulk! Speaking of groceries, try this. It’s an upfront cost, but saves money in the long run. Paper products, detergents, and bulk baking goods such as flour, peanut butter, sugars, oils, and more are all great to purchase in bulk.
    • Grow a garden! Think of how much green you can save on produce with a green thumb,
  • Invest in home improvements that will make your home more efficient and save money in the long run. Here’s what we mean: update appliances to high efficiency models. Upgrade toilets to a newer model that uses less water. Replace drafty windows or doors and door seals.
  • Reduce energy use. Turn off fans and lights when you sleep or leave the house. Unplug unused cords. Use LED lights where you can! During summer, crank your AC to a slightly higher temperature to save on your electricity bill.
  • Consider a lower car payment, or purchasing a vehicle you can pay for with cash, giving you no car payment at all. Also consider walking to work or car pooling with a colleague.
  • Review all subscriptions and plans. Now is a good time to see if there are ways to reduce your cell phone expense; cable or streaming services; audio book subscriptions; magazines; online subscriptions for food services or auto ship or gym memberships. Also, be sure to look at those business subscriptions including Canva, Adobe, or Microsoft Word and Quickbooks.

For up-to-date information on YOUR Indiana area neighborhood or a FREE Seller Consultation – call The Romanski Group at (765) 293.9200.  Using an experienced team is the way to get your home ‪SOLD‬! You deserve the BEST Realtor in the Lafayette Indiana area!

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