Money Saving Tips!
Mainstream Mortgage an Indiana Mortgage Company
Contact us:
260-637-7788
866-471-3339
10536 Coldwater Rd.
Fort Wayne, IN 46845
260-637-7788
866-471-3339
10536 Coldwater Rd.
Fort Wayne, IN 46845
| In today's economy we are all faced with some tough challenges and forced to change the way we live, how we spend our money, and what we plan for tomorrow. We have outlined several different ideas that anyone can easily implement into their life and see real savings right away. A few are long term and some may take time but regardless of your need or desire to save money we are sure you will find a few great ideas that will work for you! |
| DO YOU HAVE A GREAT MONEY SAVING TIP? PLEASE LET US KNOW SO WE CAN ADD IT TO OUR LIST AND PASS ON THE SAVINGS! |
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Did you know you can earn money by purchasing online. There are many websites that offer cashback or rewards by
simply using their portal to make your purchases. Choose your favorite reward sites, make your purchases and once you
hit a certain level you cash out for cash sent to you, bonds, travel discounts etc. There are so many of them out there; our
favorites are: Bing, Mr. Rebates, BigCrumbs , and MyPoints. They all have a huge number of commonly known venders like
Kohls, Best Buy, Target and hundreds more along with travel, automotive and eyecare. Combine your rewards website with
the next coupon suggestion and save even more.
2.) Search Coupon Codes – Most online venders have an option to input a promotion code or coupon code at the time of
checkout. Did you know you can do a search for these coupons and retrieve these codes? Choose your favorite search
engine, type in your venders name along with the word “coupon” for your search and review your matches. For example
"Kohls coupon". If you are wanting to buy a specific item compare these coupon options before you decide who you want to
buy through and don’t forget to check your rewards site too, by combining the coupon with your bond rewards you can save
tons of money.
3.) Online Grocery Coupons – Most of us clip coupons from the Sunday paper but many don’t know about online tools that
allow you to print these same coupons and many more. Here are a few of the free printable sites:
www.coupons.com
www.coolsavings.com
There are others available also that require a membership so you will need to analyze your savings vs your cost. But you
can find good information about these sites and compare them at
www.makelifeeasy.com
4.) Grocery – Shop where the sales are. If you have the time, shop at more than one grocery store; therefore, shopping
more than once per week may be required. If you pick and choose what you get and only get the sale items at each location
this can add up to a pretty significant savings-assuming you have the time. If you have a Walgreens close keep an eye on
them they put pretty good ads out each week and you can sign up to receive email coupons for money off of your entire
purchase.
Buying with credit
1.) Believe it or not you can actually make money off of your credit cards. If you have the discipline to pay your card in full
every month no matter what the balance, than change to a cash dividend credit card, make all necessary purchases with
the card and pay in full when the statement comes in. You do not pay interest on your card because you pay it in full every
month, you keep your money in your bank account longer which also makes you money, and you earn cash back on your
credit card that you can cash out whenever you hit the necessary mark.
2.) Transfer high rate cards to lower rate cards when possible. Its not always advisable to close out $0 balances however-
you may need to consider how this can affect your credit score. There are many other factors to consider and leaving this
balance at $0 may also take discipline.
3.) If you have too much credit, consider consolidating with either a personal loan or a mortgage of some type, which allows
for tax deductible interest-another plus. Again be sure to consider all factors like the new rate versus the old, your long term
savings and your short term savings.
4.) If consolidating is not an option pay as much towards the high rate credit cards as you can first.
Mortgage payments
1.) Accelerated Mortgage Payments – Sign up for bi-weekly payment plans or better yet save the cost of the bi-weekly plan
fee and do it yourself. The concept of the bi-weekly plan allows you to make 1 extra payment per year since you are making
a payment every 2 weeks rather than 1 time per month. You can take it upon yourself to send in that extra payment once a
year or divide it by 12 and pay that much extra per month. This adds up to significant savings over the life of your loan.
2.) Refinance – If you have a high rate cut back on your monthly interest by refinancing to a lower rate that can save you
thousands over the life of the loan. Cutting down the term of your loan from a 30 to a 15 is also another way to save;
however, weighing out the costs versus the savings must always be considered.
Home Savings
Heating/Cooling – All year round you can save on your energy costs:
1.) Close off vents to un-used rooms
2.) Do a yearly check on areas that may have a cold draft: Check the seal around doors, windows and fireplaces and
close off these leaks with fresh caulk, plastic and door sweeps.
3.) Use cold water for laundry whenever you can
4.) Always replace filters as this adds to your furnaces efficiency
5.) Don’t turn your furnace higher than the desired temperature, it won’t heat faster and will use more energy to get there
6.) Don’t turn you furnace off when leaving home for the day or while sleeping. Turning it down is advisable but not too
low as the home will have to be re-heated and this will take even more energy to do so.
7.) If possible, in winter, open curtains or blinds in areas of the home where the sun is shining in and close them off in
areas that are shaded. Taking advantage of the solar energy from the sun can cut back on how often your furnace
needs to run.
8.) Use energy efficient light bulbs in areas which need consistent light. They cost a little more but last much longer
and offer savings long term
9.) Don’t run exhaust fans any more than you have to in the winter. They suck out the warm air in the house and force it
outside leaving the inside needing more heat.
10.) Use your microwave or smaller toaster ovens when possible rather than your large oven.
11.) Use your clothes dryer less often, it uses energy and can pull heat out of the house. Hang clothes to air dry
whenever possible.
12.) Always do full/large loads of laundry rather than several small loads
13.) Let your dishes in the dishwasher air dry rather than heat dry
14.) Go to low flow shower heads which use less water; therefore, also less energy to heat the water. This is a tough
one to get on board with.
**15.) A more expensive alternative but provides much in long term savings is the consideration of geo-thermal. It is
costly to put in but saves quit a bit each year and it also allows for an income tax credit as well as a property tax
exemption in Indiana.
Cars: 10 WAYS TO SAVE MONEY ON GASOLINE Courtesy of Russell McLendon writer for the Mother Nature Network
1) Slow and steady wins the race:
Gasoline mileage drops off in most cars once you're going faster than about 60 mph (see chart at left). For every 5 mph you
drive over 60 mph, you're essentially paying an extra 24 cents per gallon of gas. Try using cruise control on interstates and
other highways to maintain a constant speed. It can also help to use your car's overdrive gears, which save fuel and engine
wear by reducing your speed.
2) Be cool in traffic
Aggressive driving — speeding, swerving, sudden acceleration and braking — is not only dangerous, it can lower your gas
mileage 33 percent on highways and 5 percent on city streets. Revving your engine while stopped is even more wasteful.
3) But not too cool
Air conditioning can be a big drain on gasoline, so make sure you don't just leave it on absentmindedly, and certainly don't
leave it on while windows are open, even if they're just cracked. You can improve your fuel efficiency in stop-and-go traffic by
turning off the A/C and rolling down the windows instead, but that's not necessarily always the best idea. When driving
above 55 mph, especially for long periods on highways, the opposite is true — open windows make a vehicle less
aerodynamic by letting in air, which increases air resistance and decreases fuel efficiency. On long road trips, using air
conditioning could actually improve your mileage by up to 20 percent.
4) Don't just sit there
On top of pointlessly pumping out greenhouse gases without actually getting you anywhere, idling automobiles also
contribute to ground-level ozone, airborne particulate matter, and other near-surface air pollution. These emissions can
aggravate asthma and even hinder breathing in otherwise healthy people, especially children and the elderly. If you're just
idling to warm up your car in winter, it still only needs to run about a minute. Anything beyond that is just wasting gas.
5) Stay in tune
Fixing a car that needs a tune-up or has failed an emissions test can improve its fuel efficiency by an average of 4 percent.
More serious problems, like a faulty oxygen sensor, can reduce mileage by up to 40 percent. And don't forget to get an oil
change roughly every 3,000 miles or three months, whichever comes first (or you could look into installing an Electro-Lube
Oil Refiner, which reportedly eliminates the need for oil changes while boosting efficiency 3 to 4 percent).
6) Get pumped
Keeping a car's tires properly inflated can improve fuel efficiency by about 3.3 percent. It's also safer and lengthens the
lifespan of your tires, since under-inflated tires lose their tread quickly in addition to wasting fuel. Regular checkups for your
tires' alignment and balance aren't a bad idea, either.
7) Take a load off
While it mainly affects smaller cars, carrying extra weight means burning extra gasoline, no matter how big your vehicle is.
On average, you may be cutting your fuel efficiency by up to 2 percent for every 100 extra pounds you haul.
8) Develop motor skills
Using the manufacturer's recommended grade of motor oil can boost mileage by 1 to 2 percent. Try to also use the lowest
grade of gasoline that's appropriate for your car, since high-octane grades cost several cents more per gallon. Check your
owner's manual to be sure, but as long as your engine doesn't start knocking, you're probably OK. Switching from premium
to regular gasoline would save hundreds of dollars every year.
9) There's a cap for that
Gasoline can evaporate from a vehicle's fuel tank if it's able to find an opening, which is bad for your wallet and your lungs.
Make sure your gas tank's cap is tightened securely after you fill up, and if the cap's threading is stripped or it fits too
loosely, you might want to buy a new one.
10) Join the masses
Carpool or, even better, don't take a car at all — walk, ride a bike, or take mass transit. It saves you money, improves your
personal health, and helps the planet by keeping greenhouse gases out of its atmosphere. See MNN's guide to greening
your commute for more ideas.
simply using their portal to make your purchases. Choose your favorite reward sites, make your purchases and once you
hit a certain level you cash out for cash sent to you, bonds, travel discounts etc. There are so many of them out there; our
favorites are: Bing, Mr. Rebates, BigCrumbs , and MyPoints. They all have a huge number of commonly known venders like
Kohls, Best Buy, Target and hundreds more along with travel, automotive and eyecare. Combine your rewards website with
the next coupon suggestion and save even more.
2.) Search Coupon Codes – Most online venders have an option to input a promotion code or coupon code at the time of
checkout. Did you know you can do a search for these coupons and retrieve these codes? Choose your favorite search
engine, type in your venders name along with the word “coupon” for your search and review your matches. For example
"Kohls coupon". If you are wanting to buy a specific item compare these coupon options before you decide who you want to
buy through and don’t forget to check your rewards site too, by combining the coupon with your bond rewards you can save
tons of money.
3.) Online Grocery Coupons – Most of us clip coupons from the Sunday paper but many don’t know about online tools that
allow you to print these same coupons and many more. Here are a few of the free printable sites:
www.coupons.com
www.coolsavings.com
There are others available also that require a membership so you will need to analyze your savings vs your cost. But you
can find good information about these sites and compare them at
www.makelifeeasy.com
4.) Grocery – Shop where the sales are. If you have the time, shop at more than one grocery store; therefore, shopping
more than once per week may be required. If you pick and choose what you get and only get the sale items at each location
this can add up to a pretty significant savings-assuming you have the time. If you have a Walgreens close keep an eye on
them they put pretty good ads out each week and you can sign up to receive email coupons for money off of your entire
purchase.
Buying with credit
1.) Believe it or not you can actually make money off of your credit cards. If you have the discipline to pay your card in full
every month no matter what the balance, than change to a cash dividend credit card, make all necessary purchases with
the card and pay in full when the statement comes in. You do not pay interest on your card because you pay it in full every
month, you keep your money in your bank account longer which also makes you money, and you earn cash back on your
credit card that you can cash out whenever you hit the necessary mark.
2.) Transfer high rate cards to lower rate cards when possible. Its not always advisable to close out $0 balances however-
you may need to consider how this can affect your credit score. There are many other factors to consider and leaving this
balance at $0 may also take discipline.
3.) If you have too much credit, consider consolidating with either a personal loan or a mortgage of some type, which allows
for tax deductible interest-another plus. Again be sure to consider all factors like the new rate versus the old, your long term
savings and your short term savings.
4.) If consolidating is not an option pay as much towards the high rate credit cards as you can first.
Mortgage payments
1.) Accelerated Mortgage Payments – Sign up for bi-weekly payment plans or better yet save the cost of the bi-weekly plan
fee and do it yourself. The concept of the bi-weekly plan allows you to make 1 extra payment per year since you are making
a payment every 2 weeks rather than 1 time per month. You can take it upon yourself to send in that extra payment once a
year or divide it by 12 and pay that much extra per month. This adds up to significant savings over the life of your loan.
2.) Refinance – If you have a high rate cut back on your monthly interest by refinancing to a lower rate that can save you
thousands over the life of the loan. Cutting down the term of your loan from a 30 to a 15 is also another way to save;
however, weighing out the costs versus the savings must always be considered.
Home Savings
Heating/Cooling – All year round you can save on your energy costs:
1.) Close off vents to un-used rooms
2.) Do a yearly check on areas that may have a cold draft: Check the seal around doors, windows and fireplaces and
close off these leaks with fresh caulk, plastic and door sweeps.
3.) Use cold water for laundry whenever you can
4.) Always replace filters as this adds to your furnaces efficiency
5.) Don’t turn your furnace higher than the desired temperature, it won’t heat faster and will use more energy to get there
6.) Don’t turn you furnace off when leaving home for the day or while sleeping. Turning it down is advisable but not too
low as the home will have to be re-heated and this will take even more energy to do so.
7.) If possible, in winter, open curtains or blinds in areas of the home where the sun is shining in and close them off in
areas that are shaded. Taking advantage of the solar energy from the sun can cut back on how often your furnace
needs to run.
8.) Use energy efficient light bulbs in areas which need consistent light. They cost a little more but last much longer
and offer savings long term
9.) Don’t run exhaust fans any more than you have to in the winter. They suck out the warm air in the house and force it
outside leaving the inside needing more heat.
10.) Use your microwave or smaller toaster ovens when possible rather than your large oven.
11.) Use your clothes dryer less often, it uses energy and can pull heat out of the house. Hang clothes to air dry
whenever possible.
12.) Always do full/large loads of laundry rather than several small loads
13.) Let your dishes in the dishwasher air dry rather than heat dry
14.) Go to low flow shower heads which use less water; therefore, also less energy to heat the water. This is a tough
one to get on board with.
**15.) A more expensive alternative but provides much in long term savings is the consideration of geo-thermal. It is
costly to put in but saves quit a bit each year and it also allows for an income tax credit as well as a property tax
exemption in Indiana.
Cars: 10 WAYS TO SAVE MONEY ON GASOLINE Courtesy of Russell McLendon writer for the Mother Nature Network
1) Slow and steady wins the race:
Gasoline mileage drops off in most cars once you're going faster than about 60 mph (see chart at left). For every 5 mph you
drive over 60 mph, you're essentially paying an extra 24 cents per gallon of gas. Try using cruise control on interstates and
other highways to maintain a constant speed. It can also help to use your car's overdrive gears, which save fuel and engine
wear by reducing your speed.
2) Be cool in traffic
Aggressive driving — speeding, swerving, sudden acceleration and braking — is not only dangerous, it can lower your gas
mileage 33 percent on highways and 5 percent on city streets. Revving your engine while stopped is even more wasteful.
3) But not too cool
Air conditioning can be a big drain on gasoline, so make sure you don't just leave it on absentmindedly, and certainly don't
leave it on while windows are open, even if they're just cracked. You can improve your fuel efficiency in stop-and-go traffic by
turning off the A/C and rolling down the windows instead, but that's not necessarily always the best idea. When driving
above 55 mph, especially for long periods on highways, the opposite is true — open windows make a vehicle less
aerodynamic by letting in air, which increases air resistance and decreases fuel efficiency. On long road trips, using air
conditioning could actually improve your mileage by up to 20 percent.
4) Don't just sit there
On top of pointlessly pumping out greenhouse gases without actually getting you anywhere, idling automobiles also
contribute to ground-level ozone, airborne particulate matter, and other near-surface air pollution. These emissions can
aggravate asthma and even hinder breathing in otherwise healthy people, especially children and the elderly. If you're just
idling to warm up your car in winter, it still only needs to run about a minute. Anything beyond that is just wasting gas.
5) Stay in tune
Fixing a car that needs a tune-up or has failed an emissions test can improve its fuel efficiency by an average of 4 percent.
More serious problems, like a faulty oxygen sensor, can reduce mileage by up to 40 percent. And don't forget to get an oil
change roughly every 3,000 miles or three months, whichever comes first (or you could look into installing an Electro-Lube
Oil Refiner, which reportedly eliminates the need for oil changes while boosting efficiency 3 to 4 percent).
6) Get pumped
Keeping a car's tires properly inflated can improve fuel efficiency by about 3.3 percent. It's also safer and lengthens the
lifespan of your tires, since under-inflated tires lose their tread quickly in addition to wasting fuel. Regular checkups for your
tires' alignment and balance aren't a bad idea, either.
7) Take a load off
While it mainly affects smaller cars, carrying extra weight means burning extra gasoline, no matter how big your vehicle is.
On average, you may be cutting your fuel efficiency by up to 2 percent for every 100 extra pounds you haul.
8) Develop motor skills
Using the manufacturer's recommended grade of motor oil can boost mileage by 1 to 2 percent. Try to also use the lowest
grade of gasoline that's appropriate for your car, since high-octane grades cost several cents more per gallon. Check your
owner's manual to be sure, but as long as your engine doesn't start knocking, you're probably OK. Switching from premium
to regular gasoline would save hundreds of dollars every year.
9) There's a cap for that
Gasoline can evaporate from a vehicle's fuel tank if it's able to find an opening, which is bad for your wallet and your lungs.
Make sure your gas tank's cap is tightened securely after you fill up, and if the cap's threading is stripped or it fits too
loosely, you might want to buy a new one.
10) Join the masses
Carpool or, even better, don't take a car at all — walk, ride a bike, or take mass transit. It saves you money, improves your
personal health, and helps the planet by keeping greenhouse gases out of its atmosphere. See MNN's guide to greening
your commute for more ideas.
| Your Indiana Mortgage Company Mainstream Mortgage * 10536 Coldwater Rd. * Ft Wayne, IN 46845 |