Entries Tagged 'wise purchases' ↓

Your home, whether it’s your first or fifth purchase, is easily the most expensive single buying decision you’ll ever make in your lifetime. If you’re not careful about your decision, your home could end up as the biggest, costliest mistake of your life. If you don’t want that to happen, there are some things you must learn first when you’re ready to buy a home: pre-qualification and the local housing market.

Why bother with pre-qualification?
Pre-qualification is essentially a process where a buyer learns whether he’ll qualify for a loan or not and how much loan amount he will get pre-approval for. The loan pre-qualification is obtained from a lending institution.

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To save money when buying a home, it is important to review your home loan options first. There are many available home loan options in the market. All of them have their positive and negative points and its up to you to consider what will be most beneficial for you.

The mode of payment should be considered, first and foremost. The one that would fit your budget with the least interest at the shortest possible time should be your option of choice. There are just too many options that you really have to take your time out to check all the details. You may want to involve a consultant in this so you are assured of making the best decision.

Here are some of the most common options you can choose from: Continue reading →

Having your own home is a very important milestone in anyone’s life, and it’s a decision that requires careful planning because not only does it cost a lot, but it’s also a place where you’ll live and reflect your style the most.

Gather around the most important people in your life because having other opinions may improve the decision making process for determining the type of home you can afford. Remember: if their opinions really matter, be sure that you listen to what they have to say.

1. Know Your Budget
How much is in your savings account ? How much of it are you able to afford and comfortable with spending for your dream house? Do you have any assets in your name? If yes, are you willing to sell any of these to increase your budget for home purchase or construction? If not, start saving for your down payment.

Are you comfortable with taking a loan? Obtaining one will greatly increase your budget, but of course that depends if you have someone to borrow funds from in the first place. Do you think any of your relatives or friends will be willing to lend you money at ideal rates?

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You finally decided that it is about time to get a house. You have your dream house in mind but you don’t know how you’re going to buy it. You don’t know if you have the financial capacity to purchase a house of your own. You are suddenly overwhelmed with the things to do.

Sure, it is difficult to buy a house. But there are steps you can follow so that making that move becomes manageable in smaller steps. One of the most important part of making buying a home a rewarding endeavor is preparing your finances, which include saving for a downpayment.

To start saving for a down payment, it is important that you set a goal. You can do this better if you consult your realtor to discuss honestly and realistically your expectations and budget. Stay within your budget and determine how much cash you need for the initial payment.

Write to Start to Save for Down Payment the Right Way

Get a piece of paper and start jotting down all the incoming and outgoing cash within a month in two separate columns. It would be good to itemize all your expenses - car payment, rent, food, clothing, entertainment, gifts, etc. Do this for a couple of months to see the actual cash flow. This way, you see the expenses that you can cut down on.

You’ll be amazed at how much you will save once you actually see in paper the unnecessary things you’ve been spending on. Tightening your belt will allow you to save more cash. You should be able to allot a regular amount from your incoming cash for your down payment.

Keep Your Down Payment Savings Secure

Open a bank account, most preferably a high yield savings account, especially for your down payment. Having a fixed amount transferred to this account automatically leaves you with no choice but to save. Now you are sure that it would be harder for you to spend it for something else than when it’s somewhere too accessible.

How Much Down Payment to Save for a House

You should be able to save up to at least 20% of the amount of the house you are buying for the down payment. This is actually an amount determined by lenders because, based on surveys, home buyers are most likely to push through with the purchase if they have already put up at least 20% of the amount. Having a bigger down payment also means lower interest rates and bigger savings.

But if the mortgage is insured, you can pay a home down payment of as little as 3 to 5 percent of the purchase price. Low down payment mortgages now abound. You just have to meet all the requirements of a low down payment home loan.

[image from lisette lawrie]

This is the last part of the Ways to Save Money on Using Light Fixture series. 

Go for Dimmers
Dimming allows you manual control over the amount of energy or light consumed. Choose knobs over push-pull levers because they give you more control. Dimmers also allow you to set the exact mood which can contribute to a happier atmosphere. When you want a romantic night, you can dim the lights extensively then bring it back on if you need sufficient lighting for family-oriented activities. Dimmers allow you to put your lights to better use without spending less.

Think of Colors and Tones
In the old days, sizes were the only varying feature for light bulbs and fixtures, but today’s range of lighting products allows you to choose the color and tone as well. These are also important because they let you enjoy lesser or greater heat at the right settings and temperature to reduce need for home cooling or heating.

How to Choose the Right Light Bulb and Fixture for Your Home
Consider the setting first. Lights for the living room definitely greater energy or brightness rather than those meant for the bedroom or the bathroom. White light is ideal for the main areas of the kitchen and the office rather than yellow light. And lastly, think about size and number as well. Do you want four small ones or just one big one strategically located at the center?

Nowadays, mobile phones are fast becoming a necessity. It is offered everywhere from colleges, drug stores, and job locations and in more other places you can think of. Verizon, Sprint, Cingular, T-Mobile – so many cellular phone providers, but which company to go to? Which company offers the best plan that’s fit for you?

Once you know your needs and your budget this will help in avoiding to pay more than you should. Before choosing which company to go to and which plan to opt for. Here’s a checklist of the things you have to consider.

First, know which provider offers service in your area. A good number of major cell phone providers offer services nationwide, others are more local. Bunch up a list of all the providers available in your area and their rates.

Next, think about how many times you need to use the cell phone the most, how many minutes you need to use your phone and where you will use it. Then, you must determine how much you are willing to spend each month for your cell phone.

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How? By turning in their gas-powered lawn mowers. Each resident who turns in his gas-powered mower will receive a $25 rebate for a new electric or push mower.

They are even going to receive a $100 discount from Northwest Natural Yard Days store if they purchase their mowers there.

But all of this will only be until Tuesday.

Mowers can be turned in at Seattle Public Utilities’ North Recycling and Disposal Station, 1350 N. 34th St., or South Station, 8105 Fifth Ave. S., from 8 a.m. to 5 p.m. Residents are asked to empty their mowers of oil and gas before they are recycled as scrap metal. Mowers still will be accepted after Tuesday, but without the customer rebate.

For more information, visit www.seattle.gov/util or call 206-633-0224. For participating Northwest Natural Yard Days stores, visit www.yarddays.com.

via Seattle Times

[image from addon]

This is the second part of the Save Money on Lighting series.

Replace the Big Five of Light Bulbs and Fixtures
If you have a very tight budget, you can enjoy the greatest savings on your utility bills by replacing the Big Five. These are the most used lights at your home: light bulbs and fixtures in your kitchen’s ceiling, bathroom mirror, outdoor post or porch, as well as the lamps or lighting source for your living room floor and table. If you can’t replace all the lighting bulbs in fixtures in your whole house, make sure you replace at least the Big Five.

Automate as Much as Possible
Many homes suffer from high utility bills simply because most people in the house forget to turn off lights when they’re not in use. And although you can post as many reminders as you want all around you house, you can’t completely guarantee that these will be strictly followed. To ensure that you’re not wasting money by wasting energy on lighting, you can use lights that switch off automatically when a door closes or any other specified action is made. They may cost more in terms of installation, but think about how you’ll be reaping its rewards for a lifetime!

[image from galeriekreo]

Buying organic food is tantamount to breaking your budget. That’s the popular concept when it comes to eating healthy food.

However, there are still ways to mind your finances while nourishing your body with organic food. Here are some ways:

SHOP AROUND

In your community, there probably are a number of markets and grocery stores that sell organic goods — but prices are not created equal. Do your homework by getting to know your options. Keep track of how much each place charges for different items. You’ll notice some patterns. Continue reading →

One-fifth of electricity consumption in the United States goes is utilized for lighting. This could probably reflect the makeup of your electricity bill as well, so think of just how much you can save on utilities by bringing cost-efficient lights to your home!

Always Look for Energy Stars
One of the projects implemented by the U.S. Environmental Protection Agency and the U.S. Department of Energy is assigning an Energy Star to lighting bulbs and fixtures that have met strict standards to ensure quality, energy efficiency, and environmental safety. Continue reading →