When you think about losing money around your house, your first thought may be losing a dollar here and there in the couch cushions or paying extra on your electric bill because you forgot to turn off the TV.
But there are certain things around your house that may be costing you more than you think and could be causing you to bust your monthly budget. Here are four things homeowners often have around their homes that may be eating into your bank account when you least expect them.
Your crowded garage
Take a moment to consider what you have in your garage. You’d be surprised by how many people can’t fit their own vehicle into their garage because it’s where they store everything else year-round – from holiday decorations to family albums to boats.
Lack of storage in your garage can be a financial problem for a few reasons:
- You buy more of what you already own because you don’t know what you already have in storage.
- Your car is at risk of damage and theft when left in the driveway, especially during the winter season.
- You waste precious time looking for things in your garage you can’t find.
If you have a boat in your garage, high-quality storage units are a great place to store it during the off-season. If it’s disorganization that’s an issue, consider investing in a wall-length storage system and clear totes so you can neatly put things away while still being able to see what’s inside the storage bins.
Everyday plumbing leaks
The average household in the United States uses approximately 300 gallons of water every day. But you might be paying for water that your family isn’t using.
In fact, according to Plumbing Manufacturers International, about 13.7 percent of all water usage is the result of leaky plumbing. If you’re among the 10 percent of American households that have leaky pipes, you could be wasting up to 90 gallons of water every day.
That’s 90 gallons of water you’re not using that you’re paying for. That said, if you notice your pipes are leaking, contact a local plumber to come and make some repairs. If you can’t afford to contact the plumber right now, a few hose clamps may be able to temporarily stop the leaks.
Your roofing materials
The roof is one of the most important things to consider when buying a house, especially if you’re among the 40 percent of homebuyers who say they’d like an eco-friendly home.
Depending on the type of materials your roof is made up of, you could either be saving money every month or paying more out of pocket than you planned. The right roofing material for your climate could decrease your home’s energy needs by 30 percent.
Consider your own roofing needs. Have your energy bills climbed in recent months because the insulation is an issue or you need a new roof? The next time you need a roofing repair, do a little extra research into which roofing materials may be best for your area.
The last thing you want to do is pay for things in your home that you’re not using. The good news is, by following the tips above, you can reduce your energy costs and other hidden costs around your home so you can stick to your budget and save money.