5 Ways to Avoid Costly Mistakes and Save More Money (Part 3)

5 Ways to Avoid Costly Mistakes and Save More Money Part 3

This month I’m continuing my special segment for homeowners, to help you keep more cash in your pocket. These tips will help you save money and avoid mistakes that cost you money.

See how many of these money saving tips you’re already doing, and how many mistakes you may be making now.

Keeping More Cash Tip #1: Don’t Ignore Mold

If you see mold near water pipes, waste lines, ice maker lines or plumbing fixtures, chances are you have a leak somewhere. To find the problem, let the water run while you check for water or damp spots. Remember that water can travel in any direction if it gets sucked into material like drywall or carpeting.

Keeping More Cash Tip #2: Inspect Water Heaters For Leaks

Water heaters can leak from the drain or relief valves, which are easy to replace. If a leak is coming from the tank, it’s time to take action. Over the years, tanks can crack from rust developing. Don’t ignore puddles or wet spots. A damaged tank will leave you with a flood on your hands sooner or later.

Keeping More Cash Tip #3: Replace Old Circuit Breakers

In one of our previous issues of Financial Fitness Magazine, we talked about how to troubleshoot lighting and appliances, and how you can sometimes just reset the breaker. However, when a breaker trips again and again, it needs to be replaced, or you risk serious damage or even fire.

Keeping More Cash Tip #4: Pests Like Older Houses

It’s always a good idea to occasionally take a screwdriver and poke around the wood around your windows, doors and closets. Hard wood is what you want to see. If your screwdriver goes into the wood easily, you could have bugs that eat wood, making a meal on your wood.

Keeping More Cash Tip #5: Prepare When On Vacations

If you go on a vacation with your family for more than a week, it’s a good idea to prepare your home for being left alone. It’s smart to turn off the water main. Also be sure to close and lock your windows and doors, including your garage door. This will prevent leaks from developing or getting out of hand while you’re gone, and make gaining entry to your home more difficult for would-be thieves or animals.

With all of these cases, and many more, it’s always a wise idea to be proactive when it comes to monitoring the condition of your home. Left alone, your home can turn into a money pit, and even a safety hazard, with you constantly doing emergency repairs. Be proactive. You’ll save a pile of cash and avoid a lot of headaches and stress.

Related posts:

A New Kitchen Can Increase Your Home's Value and Enjoyment
7 Ways to Create Your Dream Home
5 Tips For Investing In Rental Properties

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