Once you’re a homeowner, you know that excellent finances are a necessity. You need to budget smartly and be aware of where your money is going. There are so many little things that drain our money that aren’t so obvious. Read on to see some places where your money is going right out the window and what you can do to control it.
Food Spending And Consumption
Not only do most people admit to overspending on food, they admit to wasting food as well. It’s a smart idea to have a weekly meal plan. Do you cherish pizza night? Write that into the plan. Set a week- or even a month of menus ahead of time depending on how motivated you’re feeling. Make sure you’ll have everything you need in the house to make these meals. Try not to stock up on too many items. The simple act of knowing what you’re eating can save you hundreds, if not thousands of dollars over the course of a year.
Financial Fees
Are bank fees and credit card late payment fees getting you down? All of those extra costs add up over time. Each time you overdraft your bank account costs you somewhere in the neighborhood of $25-$35. Every time you miss a credit card payment costs you another $25 or more. Make sure you’re enrolled in overdraft protection. You should also get alerts from your credit card as to when bills or due. If auto-pay is convenient, you can also consider that option to help you not miss payments.
Utility Costs
Utilities can cost a significant amount of money, but these bills don’t have to be astronomical. Make sure you’re not wasting energy. Keep the thermostat either higher or lower depending on the season when you’re not home. A few degrees can make a big difference in your bill. Old appliances can also be energy suckers. When you leave the room, shut off televisions and lights to save even more on your utility costs.
Monthly Memberships
Do you have a gym membership and never use it? That’s money going right out the window. If you subscribe to online services that you don’t frequently use, only keep the subscriptions that you need and use. You can save hundreds of dollars just by keeping track of where your money is going and if you use the products. Take a look at your credit card statements and notice any monthly charges that look unfamiliar.
About the Author
Kimberly Hering
Kimberly Hering's devotion to helping people achieve their real estate goals stems from her genuine enjoyment of the process. Whatever the task, Kimberly makes it her mission to get it done, however she can, without compromising her client's needs. Often, that means thinking outside the box. After working with Kimberly, clients describe her as being Trustworthy, Creative, Patient, Highly Skilled, Attentive to the Process and having a lot of Integrity.
After spending more than 15 successful years working on Wall Street, Kimberly transitioned into Real Estate, joining Alain Pinel Realtors, then moving to Zephyr, now Corcoran Global Living, in 2018. During her career on Wall Street, Kimberly was a Vice President working as an Institutional Equity Salesperson for Montgomery Securities for 10 years. She covered the top money managers throughout the US and Canada. She joined Jefferies & Co as a Senior Vice President managing the Western Region Institutional Sales group, while continuing to cover the top money managers.
Kimberly leverages her extensive experience selling equities to top money managers throughout the US and Canada, to successfully negotiating any Real Estate transaction seamlessly for her clients. Kimberly is well versed in Marin's neighborhoods, towns, cities, and education system.
Living in the Bay Area for 35 years, 25 years in Marin and having 2 sons in local Marin schools, Kimberly spends a lot of time volunteering in the community and serving on various local Boards. Kimberly has a collection of resources ranging from the best local breakfast spots to vetted contractors. With her reliable list of valuable resources, Real Estate experience and unsurpassed knowledge of Marin's many communities, Kimberly can guide her clients through every aspect of a Real Estate transaction seamlessly.
Relocating to Marin, downsizing, upsizing, first time home buying, final home purchase or sale, or a lot to build a dream home, no matter the undertaking, Kimberly works seamlessly until the job at hand is completed with 100% satisfaction.