Owning a home is part of the American dream, and has been for as long as nearly anyone can remember. Owning a home has become so steeped in our culture that we practically consider it a right, not a privilege. However, for numerous homeowners, owning a home is becoming more and more expensive – almost to the point of being downright unaffordable.

Homes are expensive to own and upkeep. They simply require a lot of time, effort and money which is what makes them such an investment. But being an investment doesn’t mean it has to leave you in the negative at the end of each month. If you feel like your home is sucking you dry, you may want to look into the few aspects of homeownership that may be costing you big time:

Your Mortgage

If you are like many with a fixed rate mortgage, there is a good chance that you purchased your home when you either didn’t have well-established credit or when interest rates weren’t as low as they were now. Because of this you have higher mortgage payments, and will wind up paying more on your mortgage in the long run. If you want to save yourself several thousand dollars, consider refinancing to a lower interest rate so your mortgage doesn’t eat you alive.

Regular Maintenance

A home is expensive to upkeep. On the exterior, you can expect to deal with lawn maintenance, landscaping, and painting if you don’t have vinyl siding. As time wears on, you can also expect to have to pay for major updates such as a new roof, heating and cooling updates, and possibly even electrical updates if you bought and older home.

While some maintenance can’t be avoided, such as cutting the lawn, there are a few things you can do to keep the price of maintenance low. For starters, do the work yourself. Instead of hiring someone to do your landscaping and yard work, do it yourself. To keep yourself from having to make expensive updates to old systems, take care of them correctly. Change out filters when need be and make sure ducts are regularly cleaned. Just like a car, the better you take care of your home’s systems the longer they will last which will save you money.

Private Mortgage Insurance

Aside from a mortgage and maintenance, the cost of private mortgage insurance is one of the most costliest aspects of owning a home. Most banks require that a homeowner purchase PMI if they are unable to put down 20 percent or more at the time that they secure their mortgage. However, a homeowner can rid themselves of the burdensome PMI payments once the amount owed on the house is 80 percent or less of the home’s assessed value. So if you know that you have paid more than 20 percent of your home off, call the bank and have them drop the PMI. It will literally save you hundreds, if not thousands, of dollars each year.

High property taxes and avoiding green habits can also quickly turn your home in to a money pit. If you are looking for a way to save money, consider calculating just how much money you spend on your home and its upkeep on a monthly basis. Not only will you be surprised by how much you spend, but you also might surprise yourself with how much you can save by taking a few extra precautions.

There are many people across the nation that are tired of paying high prices to get the most entertaining games for their gaming systems and computers.  The retail price of some of these games is so high that many people can only afford to purchase one or two games at a time.  This takes up a large amount of income and makes purchasing a game that you do not like an expensive mistake.

Because the cost of games from retail stores is becoming ridiculous, many people have chosen to find inexpensive game downloads on the internet for enjoyment.  The games that are available as downloads are no different than the games that you would purchase from store, except that they cost a lot less.  There are also many downloadable games that are interactive so that you can play with other people over the internet or with someone close by.

Regardless of what type of games you like to play, you will be able to find an inexpensive game download that you will enjoy playing.  The games are high quality and usually can be played in multiple modes just like store brought video games.  And as an added bonus, you can try as many games as you like for a fraction of the price you would pay for a new video game and if you do not like it, you can just delete it off of your computer.

Inexpensive game downloads are increasing in popularity as people discover how easily they can download games from the internet.  The quality of the images and the innovative features of the games make the gamers want to return for more downloads.  Explore the options available on the different websites and you may even find a whole new game genre that you really enjoy playing.

If you want to drive a motor on the public roads, then you must purchase motor insurance. Failure to do so will result in prosecution, but not only that, it can result in heavy financial losses. If you drive without insurance, then in the event of an accident, you will not be able to recoup any money to have the motor fixed or replaced.

You may be thinking, ‘yes, but I’m a good driver, I’ll never crash’. Ok, so you may be a good driver, you may even be the world’s best driver, but that does not mean you will not have an accident. Other drivers sometimes cause accidents, so you can be the best in the world, but if you encounter a very poor driver, you may still have an accident nonetheless. Therefore, motor insurance is essential and it is there for everyone’s benefit. It may be expensive, but drivers must always consider it an investment, and not a charge.

People often neglect to get motor insurance quotes for one of two reasons: expense and confusion. Here we will address each of these problems in turn, in the help of navigating the minefield of insurance in a way that helps you and, we hope, encourages you to ensure you purchase motor insurance.

Expense

There are many ways to reduce the cost of your insurance policy:

• Shop around – different companies charge different amounts, in order to find the best price, you need to consider more than one insurance company.
• Add safety features to your motor – the safer your motor is, the less likely it is to result in serious injury in the event of an accident, and the less attractive it is to thieves.
• Take an advanced driving test – the safer you are as a driver, the lower the cost of insurance, and this is a great way of proving to the insurance company that you are a good driver.
• Remove any add-ons you do not need. Insurance companies often hide optional extras and it is up to the customer to opt out. If you find you are being charged for breakdown cover, but you do not need it, remove it from your cover.

Confusion

Confusion arises because there is so much choice. There are so many different types of policy available that it can be confusing. To avoid this, only shop with those companies that allow you to create a bespoke policy. These companies will offer a basic package and it is up to you, the customer, to select those extra options you want and need.

It can be easy to create a budget that addresses all of your spending needs, but it can be difficult to stick to it long enough to see the benefits of creating a budget.  Following a budget is the easiest way to ensure that you are not spending more than you can afford and that all of your needs are taken care of with some money left over for saving.  There are many simple tricks that can be used to help you stick to your budget and increase your success at managing your finances.

A simple way to ensure that you are not spending the money earmarked for saving in your budget is to keep two separate bank accounts.  One bank account should be your spending account that your paycheck is deposited in and that your bills are paid out of.  The other bank account should be a savings account where your savings are deposited as soon as you get paid.  Having two separate bank accounts for spending and saving will reduce the chances that you will spend the money earmarked for saving on other expenses.

A good trick to keep your spending within budget is to buy items on sale or at a discount as frequently as possible.  If you can buy the items at a discount of 25% or more, it will take longer to reach your spending limits and you will be able to buy more items without going over your limits.  You can also use coupons to bring down the prices of the items that you buy.

Reduce the number of times you eat out during the week to realize significant savings.  The price of a meal in a restaurant can be more than 300% of the cost of making the items yourself at your home.  To save time, make a double portion of the foods you enjoy when you are cooking and place half in the freezer to be reheated and eaten at a later date.  Taking your lunch to work instead of relying on fast food can also reduce your food expenses by a significant amount and help you stay within budget.

Making extra cash is good for anyone and the money earned can be used for anything from saving for a rainy day to purchasing an expensive item that you’ve had your eye on.  There are many different ways that can be used to make extra money that most people do not think about and pursuing these methods can be very lucrative.  These methods allow you to choose the amount of time you will dedicate to earning extra money and allow you to choose a task that you enjoy to make the job as agreeable as possible.

Have A Garage Sale

Nearly everyone has a ton of stuff in their home that they do not want or that they never use.  Instead of allowing these items to clutter up your home, wait for a sunny day and have a garage sale to turn all of your unwanted stuff into cash.  In many areas, the local newspapers will allow you to put an announcement about your garage sale in the classified section of the newspaper for free or for a nominal fee.  Be sure to check and see if the laws of your city require you to have a permit before you can have a garage sale – you do not want to end up on the wrong side of the law.

Become An Evening Babysitter

You will be hard pressed to find a parent that would not enjoy a little time off from their parenting duties every now and then while their little one is in the loving care of the babysitter.  Sell your evening babysitting service to family members, friends, and neighbors first, then after you are sure that you have the babysitting process well in hand, ask them to refer you to the people they know so that you can expand your client base.  Some successful evening babysitters can have multiple children in their home doing arts and crafts or learning new skills while the parents enjoy a regularly scheduled paid evening off.

Assist The Elderly

There are probably many elderly people in your neighborhood that would love to have someone assist them with a variety of tasks, from household chores to yard work to providing transportation for appointments.  Agree on a fair price for your services and a method of payment before any work is performed to ensure that there are no misunderstandings about the pay expected and when payment will occur.  You may want to advertise your services in the local newspaper or put up flyers in prominent locations that include a way for potential customers to contact you.

Everyone wants to save money, regardless of how much they make, but saving can be difficult with all of the desirable items attracting attention at every turn.  Saving can be very beneficial, allowing you to handle a future calamity without relying on credit or purchase an expensive item that you have wanted for a long time.  Incorporating some simple saving tips into your everyday lifestyle can result in a savings increase of thousands of dollars every year.

Slash Your Spending

This is the most common sense method for saving more money, but it is also the most difficult method to follow.  People are creatures of habit and once you get into a particular spending pattern, the pattern can be very hard to break.  Keep careful track of what you are spending for several months and chances are, you will be able to identify areas of frivolous spending that can be eliminated to save more money.

Create A Budget

Many people treat budgeting as if it is not important, but sticking to a budget can help you keep your spending within your means and ensure that you have some of your income left over at the end of the month to save.  A budget does not have to include every single spending category in individual sections, but the budget should give you a good general idea of how much you are spending on monthly expenses, how much money you are making, and how much you should be able to put away as savings each month.

Eliminate Your Credit Card Debt

Credit card debt is the most expensive debt to carry and eliminating your credit card debt can save you thousands of dollars each year in financing and interest charges.  Target the credit cards with the highest interest rate first and pay more than the minimum payment each month to lower the balance until the credit card is paid off.  It is important to keep the credit card accounts open after the card has been paid off to prevent a decrease in your credit score due to a lower amount of available credit.

Use Comparison Shopping

Comparison shopping can help you save tons of money on your living expenses each year.  Many of the items that everyone needs, like groceries, clothing, and cleaning supplies, go on sale at different stores at different times and prices from store to store can differ dramatically even when the items are not on sale.  Reviewing sales flyers and online offers to find the lowest prices on the items that you desire and planning your purchases to take advantage of these prices will save you a considerable amount of cash over time.

Obtaining a mortgage is expensive and you will pay thousands of dollars in fees and interest before the mortgage is paid off.  It is important to save as much as you can on your mortgage to have disposable income for other expenses and items that you desire and to ensure that you do not face a financial hardship trying to pay off your mortgage loan.  Here are some simple ways to save money on your mortgage.

Pay Off Your Mortgage As Quickly As You Can

Although a longer term for your mortgage will mean that your monthly payments will be lower, it also means that you will pay more in interest charges and servicing fees over the life of the loan.  Paying more than the monthly payment required by the lender will reduce the principal of the loan faster, resulting in a decrease in the interest paid for the loan over time.  By reducing the length of your mortgage, you can save thousands of dollars which can be used for other things of importance to you.

Purchase The Right Homeowner’s Insurance

Most mortgage loans use the home as collateral for the loan, meaning that if the homeowner defaults on the mortgage, the lender gets to take the home as payment on the loan.  Because of this, most mortgage lenders require the homeowner to keep valid homeowner’s insurance on the home for the duration of the loan period.  You can save money on your homeowner’s insurance by ensuring that you purchase the right coverage for your situation and shop around for the best price available in your area.

Take Advantage Of Government Incentives

There are many government incentives available to help eligible homeowner’s save money on their mortgage.  These government incentives typically go to first-time homebuyers or low-income borrowers, but there are some incentives available for moderate income borrowers as well, so it can be beneficial to research what government incentives are available and calculate whether you would be eligible for the incentive if you decide to buy a home.  Government incentives can help you save on the interest rate, the closing costs, the amount you must put down for a down payment, and other terms of the loan.

Winter storms in 2010 shut down many areas of the country and caused more than a billion dollars in damage and lost revenue. The adverse weather delayed shipments, caused motor vehicle accidents and property damage. The storms also disrupted business operations with power and internet service outages. The year 2011 is delivering similar weather and the trend is anticipated to continue.

Companies need insurance to protect their businesses if some unforeseen incident, such as a roof collapse or burst water pipes, forces you to halt business operations in your current building.

Business income or interruption insurance is an ideal way to protect your company during these business disruptions. This allows you to relocate and continue your operations in a temporary location while your premises undergo necessary repairs. Business interruption insurance is not designed to permanently subsidize your losses during the unscheduled move. It is intended to be a financial bridge during the time it takes to prepare your premises to resume normal business operations.

Business insurance companies usually sell this type of coverage as part of a general business property or business owner’s policy for qualifying businesses. It is typically positioned for small businesses that employ fewer than 100 people, maintain small physical premises and have limited offsite operations.

The policy covers income your business would have earned if you were able to operate normally. You must file comprehensive financial reports to get and continue business interruption coverage. Business insurance companies generally require that you list the expenses you must continue to pay regardless of the business disruptions. Examples include internet and telephone service.

You must have contingency plans and strategies for relocating as you reestablish your permanent premises. The exact details will depend on your type of business. You should determine the minimum requirements for continuing your operations, such as how much inventory or machinery you need to move. It may be less disruptive to your business and more cost-effective to cover the higher operating cost of working in your existing premises while is undergoing necessary repairs. After you consider all the variables, you can decide whether to purchase coverage for the added expense of working in damaged facilities or moving to and operating in a temporary location.

Insurance for small companies is about assessing your risks. Business insurance companies can assess your risk and help you determine how much coverage you should purchase if your property is rendered temporarily unsuitable. It generally takes business insurance companies two days to appraise damages and approve your decision to temporarily relocate or stay. This will give you time to activate your disaster action plan.

Numerous households across the nation have at least one loan or credit card that requires a monthly payment towards the balance of the account.  Each of these products has  interest rates and fees associated with them that can make them expensive and difficult to pay off.  Managing these credit products can be tricky, but there are some simple ways to save money on any loan or credit card product you are using or are interested in.

Pay All Of Your Bills On Time

The key to getting a great interest rate for a credit card or a loan is to keep your credit score high and the best way to do this is to pay all of your bills on time.  Late and missed payments may be reported to the three major credit reporting bureaus for inclusion in your credit history and will be counted against you in the calculation used to determine your credit score.  A decrease in your credit score will mean an increase in the interest rates that you will be expected to pay for any new loans or credit cards you obtain.

Stay Away From Retailer Branded Credit Cards

Retailer branded credit cards may give you a discount on the merchandise you want when opening the credit card account, but over time, these credit cards can cost you a large amount of money.  Retailer branded credit cards are likely to have a high annual fee, a high interest rate, and a low credit limit compared to credit cards available from banking institutions and credit card companies.  Many experts recommend having two or three credit cards with high credit limits instead of many different credit cards with low credit limits to keep your credit score high and your payments manageable.

Review Your Credit Report

Checking your credit report for inaccuracies can save you a lot of money on loans and credit cards that you are interested in.  Mistakes on your credit report can lower your credit score by a significant amount and correcting the mistakes can cause an immediate increase in your credit score, which lowers the interest rate you will be required to pay for credit products.  It is important to review your credit report on a regular basis for inaccuracies because the faster the mistakes are found, the easier it is to have the mistakes corrected.  The three main credit reporting bureaus are required by law to investigate reports of inaccurate information on a credit report and if the information contained in the credit report cannot be validated, it must be removed from the credit report.

Finding a simple and cheap place to shop for groceries is as rare as finding rings with a black diamond or a quarry of marble in your backyard. You can either go to your local supermarket and fear that your produce will be coated in dangerous e-coli or visit a store like Whole Foods and pay extraordinary prices for food that claims to be organic. Visiting the local farmer’s market is usually a hit or miss experience, which ended with strikeouts more than homeruns.

Fortunately for more practical people, the ALDI chain of supermarkets provides a quick and convenient way to do your shopping without any frills. ALDI is able to offer such low prices because of its minimalist design. They offer all store brand products with steep discounts. The lack of advertising and marketing in the store and throughout the company translates into huge savings for consumers.

If you are worried about not being able to find certain things like edamame avacado hummus and chipotle chevre empanadas, you should probably make a second stop at a specialty retailer. If your family just needs the basic staples, ALDI is the place to go. You will find all of the meats, seafood, canned items, produce, and snack you are accustomed to, but drastically slashed in price.

The staff at ALDI is one of the best features about shopping there. They aren’t overly friendly, pushy, or helpful; they are just there doing the job. Checking out takes about two minutes even if you are purchasing supplies for the entire month. The store is so efficient because employees must meet quotas for how fast they stock items and how many they can check out at a time. Because of their performance they are paid around $13 an hour, which translates into a decent living wage.

In the past, ALDI has received negative criticism for being the poor people’s alternative to supermarkets and grocery stores. Because of the dire state of the economy, more people are discovering that the products sold at the chain are of the same quality as more expensive stores. There are a couple of weird quirks about the store like paying for bags, carts, and a toy section, but they are easy to get over.

The next time you pass by an ALDI to go to a more expensive grocery store, reconsider how much you want to pay for the same quality of products. If you must have Chester Cheetah on your bag of Cheetos, then by all means stick with your routine. If you want a bag of cheap cheese puffs, then take a step into ALDI.