One of my overall goals for 2012 is to make this site more of a permanent resource for information. As part of this, I want to create an “Expense Reduction Guide” that will provide an organized way to find ways to maximize personal value and make your spending efficient.
Expense #1 – Housing
I am going to go through all the major categories, but let’s start with the biggest expense – housing. I’m keeping this part to ways to reduce either rent or mortgage PITI (principal, interest, taxes, and insurance). Things like reducing heating bills or furniture costs will be kept separate for later.
– Rent comparison sites
– rent vs buy calculators
– buying a house for psychological benefit vs. financial
Move to a different house
– live in a smaller house
– neighborhood, location
– shared living, multigenerational living
– multiple units
Buying a house
– Getting a mortgage loan
– Credit scores, income, points, etc
– Rate comparison
– Mortgage types (fixed, ARM, length)
– Maximizing home appraisal
– Shopping for homeowner’s insurance
– Deductibles, options
– Renter’s insurance
– Appealing assessment value
– Special rules in certain states
I’m just starting out and I know I’ll need to write several new posts to fill in the gaps. However, I want to make this an open brainstorming post so that you the reader can make sure I don’t forget anything. Got something to add? Please leave a comment with a tip, a link, or an idea to explore further.