Owning a home takes a toll on your wallet. From the initial downpayment to the taxes you need to pay, the expenses add up quickly. Unfortunately, the major expenses of homeownership don’t end there. Many homeowners face financial trouble when they suddenly need to replace a major appliance or pay for repairs caused by natural disasters.

While it may be tempting to convince yourself that these financial emergencies won’t happen to you, that is a precarious way to live. Appliances and features in your home won’t last forever and serious damage can happen to anyone’s home at any time. You can anticipate these expenses by following a few helpful budgeting tips and creating a comfortable financial security blanket that can help see you through the toughest of times.

Make a List

Every good budget starts with a list. For this list, you need to think of all of the major items in your home that could need repair or replacement at any time. The exact list of items will vary depending on your home, but these are the most common items in a home that will need repair or replacement at some point:

• The roof
• The floors
• Kitchen appliances, such as the fridge, dishwasher, and oven
• HVAC system, including the furnace and central air conditioning unit
• Hot water heater
• Bathroom features, such as the tub, toilet, and vanity

You should also make a list of potential risks to your home that could cause major damage, requiring major funds to repair. For instance, if you live in an area where hurricanes are common, list the type of damage it might cause and how much it would require for you to repair it. Remember to keep insurance in mind when you’re listing these expenses. About 20% of insurance claims relate to water damage of some kind, so if you have the right type of insurance you may not have to pay for repairs from flooding or other causes of water damage.

Order the List

Once you have all of the potential expenses laid out in a list, order those items according to average life expectancy. You probably won’t be able to include your list of natural disasters on this list, but this step is important for the repairs and replacements you will have to make in the future. Knowing how long each major appliance or feature will last is key to budgeting properly. By knowing that furnaces are designed to last for about 15 to 20 years, for instance, you can better ensure that you have the funds to replace your furnace as it approaches its 15th birthday. This is also helpful in prioritizing what you need to replace and can make your list much more manageable.

Save Money in a Special Account

The final step is to start saving. Open up a savings account that is dedicated to expenses related to homeownership. Having an account separate from your regular checking and savings accounts will prevent you from using it for other expenses while still being easy to access when you need it.

When it comes to how much you should save for home repairs and replacements, a good rule of thumb is to estimate spending 1% of the purchase price of your home in maintenance costs each year. If you paid $200,000 for your home, that means you’ll likely spend about $2,000 per year to maintain it. Over the year, that breaks down to $167 per month or $77 per paycheck if you’re paid biweekly. You may want to consider putting a little more than that in the account each month if you’re concerned about having to pay for repairs from natural disasters.

Another way to figure out how much you need to save is to use the life expectancy of appliances and features you need to replace and sock away a certain amount each month. By knowing that a conventional water heater lasts 10 to 12 years and that it costs an average of $500 to replace, you can use the year or two before its replacement date to save up in advance. Even if you just take a year to save up, you would only need to put about $42 in your dedicated savings account each month. By breaking the expenses down this way, saving for major home expenses suddenly becomes much simpler.

No matter how you decide to break down your monthly savings for home expenses, it is important that you have a strategy. By planning for repairs, replacements, and emergency cleanups from natural disasters, you won’t have to scramble to pay for them at the last minute. Instead, you can stay relaxed and reassured that you have some money in the bank to care of your home.

Summer is the perfect time to save a little money and increase the value of your home with a few simple DIY home improvement projects. And if you’re looking for ways to keep your kids entertained, then this is a triple win for you! Here are a few DIY home improvement projects the whole family can get in on this season.

Refinishing Kitchen Cabinets

If your kitchen functions just fine but looks a little bit outdated, one of the easiest DIY projects you can do is cabinet refinishing. A good set of cabinets can last up to 50 years, but that doesn’t mean they won’t look dated after a few decades have passed. In order to complete this project, you’ll need to remove all of your cabinet doors, sand them lightly, and then repaint them. If you’re really getting into it, you’ll want to sand and paint your shelves and cabinet units, as well. But as far as getting kids involved, there are a few key steps in this process with which they can help.

• Choosing a paint color for the cabinets.
• Hand-sanding the cabinet doors.
• Collecting screws and hinges that need to be removed before painting.
• Choosing new hardware for the refinished cabinets.
• Painting the cabinet doors.

Since this is a multi-step process, there are plenty of areas where kids of any age can help. And the best part is that when you’re finished with this project, you can take pride in the fact that it was a family effort.

Planting a Garden

Gardening is one of the best activities to get kids involved in during the summer months, especially if they don’t mind getting a little bit messy. And you might be asking yourself how this qualifies as home improvement, but the truth is that curb appeal is a major factor in your home’s value! A garden of any kind can help add value and curb appeal to the property you’re living on. And besides, almost 85% of U.S. homes were built before 1980 and are in need of some kind of improvement. The garden definitely counts! Here are a few ways you can get your kids involved in this outdoor improvement project:

• Picking which plants will go in the garden.
• Tilling the soil before planting things.
• Weeding the garden on a regular basis.
• Digging holes to place plants in.
• Watering the new garden every day.
• Creating homemade garden labels to tell which plant is which.
• Harvesting items if you’ve planted a vegetable garden.

The options for getting your children involved in gardening are virtually endless. And not only does this activity help beautify your property, but it also gets everyone outside for a little while.

Paint a Room

Sprucing up a bedroom or common area with a fresh coat of paint can be an awesome DIY project for the whole family. This is a particularly great project for older kids who might have outgrown the look of their childhood bedroom. And since almost 85% of homeowners have home insurance, a little mess with paint is nothing serious to worry about. In fact, as long as you have the proper protective materials for your trim and flooring, painting can really be as messy as you want it to be. And with your older children, this is an opportunity for them to really customize their space and contribute to beautifying their home. For starters, asking your child to pick the color or theme they want for their room is a great way to give them autonomy over their own space and to get personally invested in this kid of project. And the little ones can help too provided they can hold a paintbrush!

Home improvement projects can sometimes feel like an area where you don’t really want your kids involved. But on the contrary, these three DIY projects are perfect for the whole family. And when you’re beautifying your home together, you’ll probably find more kid-friendly projects along the way, too.

3 Ways a New ENERGY STAR Certified Washing Machine can Save You Money

Did you know that the average family washes about 300 loads of laundry a year?

That averages 5-6 loads per week, and I found that’s pretty accurate for our family. And for us, that’s with wearing some things more than once (like pajamas) and using the same towel multiple times. Nonetheless, there’s always a load of laundry to do (right, moms!?!), so it’s definitely a major user of energy and water in the home!

A few years ago we upgraded to a high efficiency washing machine which uses less water. And when 70 – 90% of the energy used by a washing machine is for heating the water, that of course easily adds up over time. And our clothes are as clean as we can hope for, plus they’re drier when done because a high efficiency washing machine actually wrings out more of the water.

If you need a new washing machine, or have one that’s over 10 years old, I highly recommend looking into getting an Energy Star Certified Washing Machine. It will save you money over time, and here’s how:

1. It will use less energy. An ENERGY STAR certified washing machine uses about 25% less energy than a regular washing machine.
2. It will use less water. It uses 14 gallons of water per load, compared to 20 gallons used by a standard machine. That’s 33% less, or 2,000 gallons of water per year!
3. Your may be able to get a rebate from your energy provider! For example, Minnesota Energy Resources customers can get a $45 rebate for purchasing and installing an ENERGY STAR certified washing machine. Just go to cashrebatesnow.com for information.

Actually, you can save money and energy with any ENERGY STAR certified appliance, including dishwashers and water heaters. And you can get a rebate for those too! Just go to cashrebatesnow.com if you are a Minnesota Energy Resources customer.

More Tips for Saving Money in the Laundry Room!

1. Wash loads with cold water whenever possible. You can use cold water to wash clothes and delicates, and there are detergents made for cold water to make sure your laundry gets clean.
2. Wash full loads! Though some models don’t require the tub to fill with water, it will still save money to do fewer full loads than more smaller ones.
3. Keep the dryer lint filter clean! This will keep it running efficiently and safely.
4. Air dry your laundry. This isn’t always practical, especially in Minnesota winters, but in the summer sun it’s a great way to skip a dryer load completely.
5. Use lower heat settings in your dryer. This saves energy and helps protect your clothes from being shrunk, too!

What other tips for saving money in the laundry room can you think of?

(Disclosure: This post is part of a series sponsored by Minnesota Energy Resources. All opinions are 100% mine.)

10 Simple Ways to Save Money and Energy at Home

While we’re all staying safe at home, I’ve been looking into ways to save money and lower our home energy costs! I’ve rounded up 10 here:

1. First – check with your energy provider to find out what rebates are available for making energy-saving upgrades!

If you are a Minnesota Energy Resources customer, you can lower your energy costs AND get a rebate of up to $100 when you install a programmable, Wi-Fi enabled or advanced thermostat, like this Google Nest smart thermostat!

I’m amazed at what a smart thermostat can do. It actually turns itself down when you are away, and you can control it from anywhere. It actually saves people an average of 10% to 12% on heating bills and 15% on cooling bills.

Here is a list of thermostats eligible for a rebate:
https://accel.minnesotaenergyresources.com/home/thermostat_rebates.aspx

For a list of all rebates:
http://cashrebatesnow.com/

Other ways to save on energy costs:

2. Insulate your water heater and keep your water heater temperature lower than 120.
3. Don’t waste energy while cooking! Keep your oven closed when cooking, and use your toaster oven or microwave to heat smaller portions.
4. Change your furnace filter every month – especially during heating season.
5. Do full loads of laundry in your washing machine, or if you do a partial load, adjust the water level. Clean your dryer’s lint trap regularly (this is wise to prevent fires, too).
6. Close your drapes or window shades during the day.
7. Replace your showerhead with a low-flow showerhead – you can save 15,000 gallons of water a year! (If you are a Minnesota Energy Resources customer you can also get a free water conservation kit which includes a free showerhead!)
8. Install a ceiling fan. Reverse the fan direction in the winter to draw cold air up and force warm air down.
9. Switch to energy-saving lightbulbs.
10. Sign up for a home energy audit to find any energy leaks and identify other areas that could use improvement.

What other ways do you save money and energy in your home?

For more information: https://accel.minnesotaenergyresources.com/

Also check out this fun page for kids!

https://minnesotaenergyresources.e-smartkids.com/kids/

(Disclosure: This is a sponsored post. All opinions are 100% mine.)

The roof on your house works hard to keep your home’s interior separate from the wild outdoors. It keeps you dry during rain and snow, gives you shade during sunny summer days, and prevents squirrels and other wildlife from becoming a part of your family unit. After decades of doing this, however, your roof needs to be replaced. In general, you should replace your roof every 30 to 40 years. If you know that your roof is approaching its 30th birthday, it’s the perfect time to start considering how you will pay for a new roof, which doesn’t come cheap. Let’s take a look at the most helpful tips for budgeting for a new roof for your house.

Know What Your New Roof Will Cost

The most important part of budgeting is knowing what amount of money you need to budget for. The average cost of a new roof can fall anywhere in the range of $5,000 to $10,000. Although these costs vary wildly, you can nail down the likely price of your roof by breaking the cost down into three categories. The first category is materials. The cost of your roof will depend on what types of shingles you use, protective coatings you add, and the underlayment and flashing you need. Asphalt shingles tend to be the most affordable option and the smaller your roof is, the less your materials will cost.

The second category is labor. You’ll have to pay skilled workers to remove your old roof and install the new one. With about 60% of the cost, labor will take up the majority of the budget for your new roof. The third category is disposal, as you will need to recycle or throw out your old roof materials once they’re removed.

By doing your homework on each of these categories and knowing the exact materials you will need to have installed, you can start conversations with contractors on an informed note. With these details in hand, you can keep estimates consistent and encourage competitive pricing between different contractors.

Ask for Free Estimates

The next step is to shop around for roofers. Get some recommendations from your friends and neighbors who have replaced their roofs recently and then ask a few of the roofing companies for free estimates. This will be where all of the homework you’ve done comes into play. You can let the roofers know the materials you would like to use and ask for their professional advice. Keep in mind that the estimates usually include labor and disposal costs, but it’s a good idea to clarify that with each roofer you speak with.

Before you commit to one roofer, get at least five estimates from different companies. This selection will allow you to choose a roofer who gives you a fair price and a high-quality job. Be wary of going with a company just because it has the lowest rate. Too often, low prices mean low-quality work. Remember to ensure that the roofer you choose offers a warranty on materials and installation and that they are properly licensed and insured before you sign any binding work contracts.

Save Up

Unless you need a new roof immediately, take the time you need to save up some money after you get the estimates. Break out the calculator and determine how much you need to save every month in order to afford the roof replacement. If you want to do the roof replacement in two or three years, you’ll likely need to save about $300 to $400 every month for the replacement. If you want it done faster, you’ll have to sock away more money. Examine your future expenses and cut out any of them that are unnecessary, such as expensive vacations or pricey electronics.

If you’re handy and have the proper equipment, you could ask your contractor if you can remove your old roof yourself. This would help cut down on the costs of the replacement, although it means that you’ll have to arrange and pay for the disposal of the old materials on your own. Consider what method of saving and cost-cutting works for your family and commit to a plan so that you can get a new roof over your heads.

Having your roof replaced is a big project that comes with a big price. By starting to plan for this major expense years in advance, you won’t need to empty your savings account to replace a crumbling roof at the last minute.

As the seasons change, it’s natural for families to need to make adjustments to their homes. We’re all familiar with the amount of work that goes into preparing a home for the winter. However, much of what is added to a home during the wintertime isn’t suitable as the weather begins to warm up.

It needs to be stripped away, and furthermore there needs to be preparations made to ensure that a home is ready for the summer. It’s important to remember that hot temperatures can be just as severe as cold weather, and in order to preserve your home against that severity you must be proactive. This is even more important for family homes, which tend to be larger and therefore more prone to problems if they aren’t prepared as they should be.

With all that being said, you won’t want to break the bank when preparing your home for hot weather. It’s all too easy to spend too much money on these types of alterations, and you really don’t have to. By saving money on prepping your home for hot weather, you’ll have more to spend on enjoying the summer when the time comes.

And you’ll certainly be better equipped to have a good time if you don’t have to endure sweltering temperatures! Let’s look into some of the more budget-friendly ways that you and your family can prepare your house for warmer weather.

1. Check Your Attic’s Insulation

Not every home has an attic, but those that do can potentially become hotter than those that don’t. Remember that attics are not only at the highest point of the home, where the temperature increases or decreases are often at their most noticeable. They also lack the kind of air conditioning systems set up in the rest of a house. This means that during the spring and summer they can build a heavy heat that is centralized in the attic, but can often affect the lower levels of the house, especially the one that is most directly below the attic itself.

The best way to prevent this from happening is to check your attic’s insulation twice a year. This would include once during the spring, and once during the fall. This way, the attic won’t release cool or hot air and compromise the rest of your home. Insulation is meant to seal in the attic, essentially. And as, on average, 40% of a home’s heat loss is due to an escape through the attic, this particular location should not be neglected. Ideally, checking the insulation will be easy and inexpensive, and staying on top of that will prevent you from losing money on energy costs.

2. Shop Locally And Act Early

Even before the weather fully or consistently heats up, you should be checking your home for any damage that may have occurred during the winter. So much of preparing your home for any seasonal change involves checking and maintaining, rather than making any dramatic changes.

Investing in maintenance doesn’t equal spending a lot of money. Rather than dropping a lot of money on tools online, try shopping locally. You don’t have to waste time driving from store to store. Just as 46% of Google users are searching out local information, you too can look up the right local store online and head there yourself. Buying locally is not only easier and more direct. It’s also often gentler on your wallet.

3. Consider Natural Products

Many of us have the idea that cleaning the house in preparation for warm weather requires using chemical cleaning products. There’s a misconception that a deep clean is impossible to achieve without harsh disinfectants. However, you can easily clean your house with more natural products, and you don’t have to spend a ridiculous amount of money to do so.

Keep in mind that not all organic products are overly expensive. Nonetheless, investing in more natural cleaning products is also investing in your health. Right now, the United States is the number one consumer of chemical products globally.

These products often have an adverse effect on the health of individuals. You can easily inhale harsh chemicals without intending to do so, without even recognizing the health issues they cause until years later. This is why some people choose to make their own natural cleaning products, often featuring ingredients like lemon juice. But if you can’t avoid using chemical products, make sure to keep your windows open while cleaning.

3. Avoid Rugs and Curtains

Now, whether due to your personal preferences or simply because of the type of home that you own, you may not be able to avoid rugs or curtains in general. However, it’s a good idea to avoid excessive fabric hangings. For one thing, you can often save money simply by skipping on these types of furnishings.

For another, you may actually end up spending more money in the long term on maintaining these types of fabric products. They can easily collect dust, pollen, and other allergens; and for that matter, of course, dirt. Not only will you simply spend less if you avoid these types of furnishings; there’s also a certain degree of convenience that comes with having a home that is brighter and cleaner, especially during the summer months.

4. Decorate With Shabby Chic In Mind

Of course, preparing your home for the summer months isn’t just about doing the practical preparation. You’ll also want your home to look summer-friendly! Embrace shopping at thrift stores, or even looking at roadside finds. You can save a lot of money by embracing the beachy, ever-popular shabby chic vibe.

Don’t feel like you have to spend a lot to create a beautiful, summer-ready home. Rather, explore your own vision! With the right amount of innovation, you’ll have your home looking exactly as you want it to look.