Wednesday, December 2, 2015

HOMEOWNERS: 4 Tips To Help You Save Money

Owning a house is a big financial responsibility. As the owner of your own home, you and you alone are responsible for ensuring that all necessary repairs are made in a timely manner, any desired upgrades are performed correctly, and that your mortgage payments are made in full every month. Your home is one of (if not the) biggest financial asset you will ever own, and it's important to make sure you take care of it. Keeping care of your home does not have to empty your wallet, however! This week, the team at our Lake of the Ozarks bank is here to help homeowners (like you) save money with these simple tips.

4 Ways To Save Money As A Homeowner

1. Make Sure Your Ceiling Fans Are Rotating The Right Way
Ceiling fans do more than create a pleasant breeze - they can also help to keep energy costs down. During the warm summer months, your ceiling fans should (typically) rotate counterclockwise and on the highest setting, as this will allow them to push air back down to the ground and create a cool breeze. During the cold winter months, your fans should rotate clockwise on a low setting. This allows them to pull the air up to the ceiling and push it back down again by the walls. Mixing up the air in this way can help to ease your heating costs.

2. Lower Your Hot Water Heater Setting To 120° F
When considering our electric bill, most of us don't even think about our hot water heaters. However, it requires a great deal of energy to heat several gallons of water to your desired temperature - and an additional amount of energy to maintain it at that heat level. Most experts recommend lowering your temperature setting to 120° F (or 55° C). You probably will never use water at a hotter temperature than this (and if you do, you risk scalding yourself), so lowering to this setting can help protect both you and your wallet.

3. Upgrade To LED Light Bulbs
Until relatively recently, all homes had incandescent light bulbs. With the introduction of LED bulbs, however, many homeowners are slowly upgrading their homes to these new light bulbs. LED bulbs cost a little bit more up front, but they are much more energy-efficient, resulting in lower electric bills. Not only that, but the lifespan of these bulbs is much greater than that of an incandescent bulb, so you won't have to replace them as frequently. The cost of LEDs has lowered over the past few years, so your original investment may not be as much as you might expect!

4. Install A Programmable Thermostat
For some people, their HVAC systems use more energy than anything else in their homes. You can use your programmable thermostat to set specific temperatures for specific times of day, such as 70° during mornings and evenings when you're home and 65° in the afternoons when you're away at work/school and a night when you're asleep. This way, you can avoid paying for warm or cool air that you won't be around to use, while still having a comfortable home to come home (or wake up) to.

Happy Savings!

We hope you find these suggestions helpful! If you are looking for a full-service bank at the Lake of the Ozarks, look no further than First Bank of the Lake. We offer a great selection of checking accounts, savings accounts, personal loans, CDs, and business loans at the Lake of the Ozarks. We would be honored to be your trusted financial resource!

First Bank of the Lake - Striving For Excellence
Member FDIC. Equal Housing Lender.

Located at the entrance to the Osage Beach Premium Outlets!
4558 Osage Beach Parkway
Suite 100
Osage Beach, MO 65065

(573) 348-2265

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