Blog - Be Thrifty Not Stubborn
While being thrifty always saves you money, being stubborn could end up costing you hundreds, if not thousands of dollars. Here's how, and where:
Trying to time the market
I've mentioned this one before but it bears repeating: Las Cruces home buyers, get OFF the sidelines! Don't be too fixated on price. Prospective Las Cruces buyers need to remember that home prices are just one factor in how much a home will cost per month. The other consideration is mortgage rates, and they're on the rise, potentially counteracting any savings on the other end.
Not researching loan options
Las Cruces borrowers, get with the program! A Zillow Mortgage Marketplace survey reveals that we're spending twice as much time researching a car purchase as we are home loans; 31% of us are spending just two hours or less. That's about the same amount of time we spend researching vacations.
That's just crazy, considering that your home is the single largest investment you're going to make in your lifetime. Take the time to get as many loan quotes as possible and save yourself hundreds, if not thousands of dollars. Sites like Zillow Mortgage Marketplace allow you submit a loan request - without having to share any personal information - and then compare personalized quotes, inclusive of all fees, from hundreds of vetted lenders nationwide.
Refusing to slow down
Here, I'm talking about changing your driving habits! What you may not know is that fuel economy is directly proportionate to how hard you accelerate and how steady you are on the accelerator.
Not only can rapid acceleration and aggressive braking lower your gas mileage by 33% at highway speeds and 5% around town (according to the U.S. Government), but the Department of Energy estimates for that for every 5 mph you increase your speed over 60 mph, you're paying an additional 21 cents per gallon. Racing to/from your job every day? It could be costing you hundreds more per year than it should.
Not buying anything unless it's on sale
The problem is this: we're blowing a lot of money on things that ARE on sale that we had always been comfortable living without, but suddenly "want" - from horse back riding lessons to harbor tours and more. You see this happening most predominantly on the social buying sites/flash sales.
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