More Monthly Money

Managing your money wisely can help you save more each month and have extra cash for your needs. Here are some simple strategies to help American homeowners improve their finances:​

1. Pay Off High-Interest Debt

High-interest debts, like credit cards, can take a lot of your money due to high fees.​

• Start Small: Pay off the smallest debt first to gain confidence.​YouTube+2State Farm+2Money Talks News+2
• Tackle High Rates Next: Then, focus on debts with the highest interest rates.​
• Use Home Equity: If you own a home, you might use its value to get a loan with a lower interest rate to pay off these debts. ​Money

2. Bundle Your Insurance

Combining your home and car insurance with the same company can lead to discounts.​CBS News+1Consumers Credit Union+1

• Save Money: Many companies offer discounts between 10% to 25% when you bundle. ​Liberty Mutual+2CBS News+2Reddit+2
• Simplify Payments: Having one insurance provider makes managing payments easier.​

3. Talk to a Financial Planner

A financial planner can guide you on how to grow your money and save on taxes.​Bankrate+1The Guardian+1

• Plan for the Future: They help you set goals and create a plan to reach them.​
• Tax Savings: They can suggest investments that reduce the amount of taxes you pay.​

4. Improve Your Credit Score

A better credit score can lead to lower interest rates on loans. Here are five tips:​The Guardian

1. Pay Bills on Time: Late payments can lower your score. ​Charles Schwab
2. Keep Credit Card Balances Low: Using less of your available credit improves your score.​wellsfargo.com
3. Limit New Credit Applications: Too many applications can hurt your score.​
4. Check Your Credit Report: Look for mistakes and fix them.​
5. Have Different Types of Credit: A mix of credit cards and loans shows you can handle various debts.​

5. Review Monthly Subscriptions

Many people pay for services they don't use.​

• Check Your Expenses: Look at your bank statements to find subscriptions you don't need.​Reddit
• Cancel Unused Services: Stopping these can save you money each month.​

6. Save Automatically

Set up your bank account to save a part of your income automatically.​

• Start Small: Even saving a little can add up over time.​
• Build an Emergency Fund: Having savings can help in unexpected situations.​

7. Make Biweekly Mortgage Payments

Instead of paying your mortgage once a month, pay half the amount every two weeks.​Bankrate+1Experian+1

• Pay Off Sooner: This method leads to one extra payment each year, helping you finish your mortgage faster. ​
• Save on Interest: Paying off your loan quicker means you'll pay less interest overall.​

8. Consult an Accountant for Taxes

An accountant can help you find ways to pay less in taxes.​

• Understand Deductions: They know what expenses you can subtract from your income to lower taxes.​
• Stay Updated: Tax laws change, and accountants keep up with these changes to benefit you.​

By following these steps, you can manage your money better and increase your monthly savings.​

Glossary of Professional Contacts

• Mortgage Specialists: Experts who can help you find the best home loans.​
• Financial Planners: Professionals who assist in creating plans for saving and investing money.​
• Insurance Agents: Individuals who help you choose the right insurance policies.​
• Accountants: Experts who manage financial records and offer tax advice.

To see if refinancing your home can save you money, book a free equity analysis by clicking www.emortgages.com or call 707-235-2812

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