{"id":16536,"date":"2021-09-24T21:30:01","date_gmt":"2021-09-24T21:30:01","guid":{"rendered":"https:\/\/alternatech.net\/?p=16536"},"modified":"2021-09-24T21:30:02","modified_gmt":"2021-09-24T21:30:02","slug":"the-worst-money-mistakes-homeowners-ever-make-2","status":"publish","type":"post","link":"https:\/\/lorevista.com\/the-worst-money-mistakes-homeowners-ever-make-2\/","title":{"rendered":"The Worst Money Mistakes Homeowners Ever Make"},"content":{"rendered":"\n<p>While homeownership undeniably comes with plenty of expenses, there\u2019s no reason to spend more than you have to. If your home seems more like a money pit than an asset, it could be that you are making one of the common money mistakes.\n\n\n\n</p><p class='\"has-text-align-right\"'>By Michelle Ullman\n\n\n\n</p><h2 class='\"wp-block-heading\"'>Not Changing Air-Conditioning Filters\n\n\n\n</h2><p>If you rarely\u2014or even worse, never\u2014change the filters in your HVAC system, you\u2019re lowering its efficiency while raising your energy costs. To keep your air clean and your energy bills low, change your filters seasonally. Switch them out more often if you live in an especially dusty area, smoke, have pets, or suffer from allergies.\n\n\n\n</p><div class='\"wp-block-image\"'><figure class='\"aligncenter' size-full><img fetchpriority='\"high\"' decoding='\"async\"' width='\"600\"' height='\"435\"' src="%5C%22https:%5C/%5C/alternatech.net%5C/wp-content%5C/uploads%5C/2021%5C/09%5C/ac_filters.jpeg%5C%22" alt='\"\"' class='\"wp-image-16579\"' srcset='\"https:\/\/lorevista.com\/wp-content\/uploads\/2021\/09\/ac_filters.jpeg' https: sizes='\"(max-width:'>\n\n\n\n<h2 class='\"wp-block-heading\"'>Not Taking Care of the Small Stuff While It\u2019s Still Small\n\n\n\n</h2><p>Putting off home repairs is a very common\u2014and very risky\u2014mistake. That slow leak or cracked fixture might seem like a minor inconvenience that has little bearing on your daily life, but left unattended, that damage could escalate into an emergency situation. What might have been an inexpensive fix in the beginning could cost you hundreds or even thousands of dollars in repair costs.\n\n\n\n</p><div class='\"wp-block-image\"'><figure class='\"aligncenter' size-full><img decoding='\"async\"' width='\"600\"' height='\"435\"' src="%5C%22https:%5C/%5C/alternatech.net%5C/wp-content%5C/uploads%5C/2021%5C/09%5C/small_stuff.jpeg%5C%22" alt='\"\"' class='\"wp-image-16575\"' srcset='\"https:\/\/lorevista.com\/wp-content\/uploads\/2021\/09\/small_stuff.jpeg' https: sizes='\"(max-width:'>\n\n\n\n<h2 class='\"wp-block-heading\"'>Using Old-School Light Bulbs\n\n\n\n</h2><p>If you\u2019re still holding on to your incandescent light bulbs, it\u2019s time to let them go. While CFL and LED bulbs might cost more up front, they ultimately save you big through longer life and superior efficiency.\n\n\n\n</p><div class='\"wp-block-image\"'><figure class='\"aligncenter' size-full><img decoding='\"async\"' width='\"600\"' height='\"435\"' src="%5C%22https:%5C/%5C/alternatech.net%5C/wp-content%5C/uploads%5C/2021%5C/09%5C/lightbulbs.jpeg%5C%22" alt='\"\"' class='\"wp-image-16578\"' srcset='\"https:\/\/lorevista.com\/wp-content\/uploads\/2021\/09\/lightbulbs.jpeg' https: sizes='\"(max-width:'>\n\n\n\n<h2 class='\"wp-block-heading\"'>Hanging On to Inefficient Appliances\n\n\n\n</h2><p>Are you still using a dishwasher, washing machine, clothes dryer, or refrigerator from the last century? If so, you\u2019re passing up the considerable energy savings to be found with today\u2019s high-efficiency major appliances.\n\n\n\n</p><div class='\"wp-block-image\"'><figure class='\"aligncenter' size-full><img loading='\"lazy\"' decoding='\"async\"' width='\"600\"' height='\"435\"' src="%5C%22https:%5C/%5C/alternatech.net%5C/wp-content%5C/uploads%5C/2021%5C/09%5C/old_appliances.jpeg%5C%22" alt='\"\"' class='\"wp-image-16576\"' srcset='\"https:\/\/lorevista.com\/wp-content\/uploads\/2021\/09\/old_appliances.jpeg' https: sizes='\"(max-width:'>\n\n\n\n<h2 class='\"wp-block-heading\"'>Paying for Services You Don\u2019t Need\n\n\n\n</h2><p>Hiring out services such as pool or yard maintenance, housecleaning, small repairs, or minor home remodeling projects does save you time, but it costs money that might have been better spent (or saved) elsewhere in your budget. Instead of engaging a professional, have your teenage son or daughter handle pool or yard care, and consider tackling small DIY and maintenance tasks yourself.\n\n\n\n</p><h2 class='\"wp-block-heading\"'>Buying Extended Warranties\n\n\n\n</h2><p>If you&rsquo;re buying a new major home appliance, the salesperson will probably pressure you to purchase an extended warranty. Although this may sound like a money-wise choice, the truth is that many consumer advocates advise against them.\n\n\n\n</p><div class='\"wp-block-image\"'><figure class='\"aligncenter' size-full><img loading='\"lazy\"' decoding='\"async\"' width='\"600\"' height='\"435\"' src="%5C%22https:%5C/%5C/alternatech.net%5C/wp-content%5C/uploads%5C/2021%5C/09%5C/extended_warranty.jpeg%5C%22" alt='\"\"' class='\"wp-image-16577\"' srcset='\"https:\/\/lorevista.com\/wp-content\/uploads\/2021\/09\/extended_warranty.jpeg' https: sizes='\"(max-width:'>\n\n\n\n<h2 class='\"wp-block-heading\"'>Not buying enough insurance coverage\n\n\n\n</h2><p>Having the right insurance \u2014 including medical, automobile, homeowners, long-term care, life and disability \u2014 is key to good financial planning. While it can be difficult to figure out the kinds of insurance and the amount of coverage you may need, not having the right balance of insurance can be disastrous if you\u2019re hit with an unexpected expense.\n\n\n\n</p><div class='\"wp-block-image\"'><figure class='\"aligncenter' size-full><img loading='\"lazy\"' decoding='\"async\"' width='\"900\"' height='\"518\"' src="%5C%22https:%5C/%5C/alternatech.net%5C/wp-content%5C/uploads%5C/2021%5C/09%5C/1140-woman-reading-insurance-policy.imgcache.rev_.web_.900.518.jpg%5C%22" alt='\"\"' class='\"wp-image-16580\"' srcset='\"https:\/\/lorevista.com\/wp-content\/uploads\/2021\/09\/1140-woman-reading-insurance-policy.imgcache.rev_.web_.900.518.jpg' https: sizes='\"(max-width:'>\n\n\n\n<p>It\u2019s a good idea to review your insurance coverage each year and determine which policies you may or may not need based on any major life events you\u2019ve experienced. For example, if you\u2019ve purchased a newer, more expensive car, it\u2019s time to reevaluate your auto insurance. If you\u2019ve recently gotten married or added a baby to your household, it may be time to take a look at your health insurance. If you\u2019ve completed a major, value-adding home remodel, it\u2019s probably a good idea to increase your homeowner\u2019s insurance. It\u2019s not enough to have just any old insurance coverage in place; you need to make sure the insurance you\u2019ve bought will cover the full value of your growing assets.\n\n\n\n</p><h2 class='\"wp-block-heading\"'><strong>Lacking an investment strategy, or not sticking to one\n\n\n\n<p>\u00a0If you invest in stocks or mutual funds as part of your savings plan, it\u2019s important to have a strategy for that money. Too many people let their emotions get in the way and end up buying or selling on impulse. Another common misstep is spending too much time and effort trying to time the market, hunting for the \u201cbig payoff\u201d or chasing the investment of the month (or week or day). Instead, you need to decide on a strategy and stick to your plan.\n\n\n\n</p><div class='\"wp-block-image\"'><figure class='\"aligncenter' size-large><img loading='\"lazy\"' decoding='\"async\"' width='\"1024\"' height='\"726\"' src="%5C%22https:%5C/%5C/alternatech.net%5C/wp-content%5C/uploads%5C/2021%5C/09%5C/defensive-investment-strategy-1024x726.jpeg%5C%22" alt='\"\"' class='\"wp-image-16581\"' srcset='\"https:\/\/lorevista.com\/wp-content\/uploads\/2021\/09\/defensive-investment-strategy-1024x726.jpeg' https: sizes='\"(max-width:'>\n\n\n\n<h2 class='\"wp-block-heading\"'>Neglecting to Save for Emergencies\n\n\n\n</h2><p>Nobody can foresee when household emergencies will strike\u2014whether it&rsquo;s a hole in the roof, a rusted-out water heater, or a doomed central heating system. But these malfunctions are all part of homeownership and it&rsquo;s best to be prepared when they do occur. If you don\u2019t set aside a portion of your savings for these types of home emergencies, you&rsquo;ll end up having to pay for repairs on credit and get hit with a double whammy: the cost of the repair and the interest on your credit card.\n\n\n\n</p><div class='\"wp-block-image\"'><figure class='\"aligncenter' size-full><img loading='\"lazy\"' decoding='\"async\"' width='\"600\"' height='\"435\"' src="%5C%22https:%5C/%5C/alternatech.net%5C/wp-content%5C/uploads%5C/2021%5C/09%5C/saving_for_emergencies.jpeg%5C%22" alt='\"\"' class='\"wp-image-16582\"' srcset='\"https:\/\/lorevista.com\/wp-content\/uploads\/2021\/09\/saving_for_emergencies.jpeg' https: sizes='\"(max-width:'>\n\n\n\n<h2 class='\"wp-block-heading\"'>Planting High-Maintenance Landscaping\n\n\n\n</h2><p>While every home&rsquo;s curb appeal can benefit from attractive landscaping, it\u2019s best to pass up on extravagant or delicate plantings that will require a professional\u2019s expensive care. Instead, choose hardy greenery that will thrive with minimal maintenance, and liven up the yard with attractive and affordable annuals planted in pots and window boxes.\n\n\n\n</p><div class='\"wp-block-image\"'><figure class='\"aligncenter' size-full><img loading='\"lazy\"' decoding='\"async\"' width='\"600\"' height='\"435\"' src="%5C%22https:%5C/%5C/alternatech.net%5C/wp-content%5C/uploads%5C/2021%5C/09%5C/landscaping.jpeg%5C%22" alt='\"\"' class='\"wp-image-16583\"' srcset='\"https:\/\/lorevista.com\/wp-content\/uploads\/2021\/09\/landscaping.jpeg' https: sizes='\"(max-width:'>\n\n\n\n<p>\n","protected":false},"excerpt":{"rendered":"</p><p>While homeownership undeniably comes with plenty of expenses, there\u2019s no reason to spend more than you have to. If your home seems more like a money pit than an asset, it could be that you are making one of the common money mistakes. By Michelle Ullman Not Changing Air-Conditioning Filters If you rarely\u2014or even worse,\n","protected":false},"author":1,"featured_media":16584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[100,96,30,46,204,102,31,32],"class_list":{"0":"post-16536","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tie-life-style","8":"tag-diy","9":"tag-diy-home","10":"tag-household-hacks","11":"tag-life-hacks","12":"tag-mistakes","13":"tag-money-saving","14":"tag-tips","15":"tag-tricks"},"jetpack_featured_media_url":"https:\/\/lorevista.com\/wp-content\/uploads\/2021\/09\/Three-Frame-Tea-Set-Photo-Facebook-Cover-1.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/lorevista.com\/wp-json\/wp\/v2\/posts\/16536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lorevista.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lorevista.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lorevista.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lorevista.com\/wp-json\/wp\/v2\/comments?post=16536"}],"version-history":[{"count":0,"href":"https:\/\/lorevista.com\/wp-json\/wp\/v2\/posts\/16536\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lorevista.com\/wp-json\/wp\/v2\/media\/16584"}],"wp:attachment":[{"href":"https:\/\/lorevista.com\/wp-json\/wp\/v2\/media?parent=16536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lorevista.com\/wp-json\/wp\/v2\/categories?post=16536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lorevista.com\/wp-json\/wp\/v2\/tags?post=16536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}</p></figure></div></figure></div></figure></div></strong></h2></figure></div></figure></div></figure></div></figure></div></figure></div></figure></div>