4 Investments That Will Save Your Family Serious Money in the Future

'It takes money to make money', goes the old platitude, but it's even more true to say that it takes money to save money. 

It may be a struggle to save up the money for these moderate investments, but putting the effort in now will reward you well in the future by reducing your expenses. Here are four things you can do:

Replace Your Incandescent Light Bulbs

This idea is the easiest to budget and do, even if you're working with a shoestring budget. You can sometimes find these on sale at $8 for a 4-pack. 

A 60-Watt equivalent LED bulb uses 11 Watts, meaning that each one can save you over $500 over its lifespan. 

Lighting is about 40% of your electric bill, so this small investment starts keeping money in your pocket right away.

Get a Chest Freezer

This is a larger investment, but it lets you stock up during sales and really cut down the grocery bill over the long run. 

When you can start buying quarters or sides of beef, you'll eat far better cuts for not much more than you're paying for hamburger now. 

Store gallon or 2-liter jugs of ice in your freezer to keep it full to minimize electric use.

Upgrade Your Air Conditioning

If your air conditioner is more than a few years old, you're probably paying too much to run it. 

Look at the energy efficiency of your present unit, and then the energy costs of the models available now. As Seliga Heating and Cooling explain, you may recoup this investment fairly quickly if your AC is even moderately old. 

Heating and AC can be as much as half of your electric bill. All of the savings after your investment is recovered are profit.

Trade In Your Appliances

Appliance manufacturers have made tremendous strides in energy efficiency in recent years. 

Go through your house and make a list of all of your electric appliances, noting their model numbers and energy ratings. Then look online at the current models and their energy ratings. 

Rank your appliances by annual energy savings and start with the biggest one. It's not uncommon for a refrigerator's savings to be over $50/year. 

Don't forget to ask dealers for trade-in allowances and look for rebates and tax credits when you're figuring your costs.

Hopefully, these tips have been useful to you and will help you save in the years to come. You don’t have to do everything all at once, though, just start with one at a time.

How to Save Some Dough on Periodic Home Maintenance Tasks

Keeping your home well-maintained will save you quite a bit of money in the long run, but the ongoing costs can be daunting. 

Homeowners often find themselves dealing with weekly service calls and regular trips to hardware stores in order to keep all of the key mechanical systems on their property running smoothly. 

Here is a look at a few ways that you might be able to save quite a bit of money on these important projects.

Consider Renting Tools

Many home maintenance projects only need to be carried out once every few years, and buying specialty tools for those tasks is not always practical. 

An example of this would be leveling out your yard to make sure that it is sloping away from your home. Instead of purchasing a plate compactor for thousands, you might be able to rent one from a local home improvement store for a few dollars an hour. 

Cheaper tools such as hammers, tape measures, stud finders, screwdrivers, and wrenches are generally much better investments. 

Buy Common Replacement Parts in Bulk

There are many different items throughout your home that you will need to replace multiple times every year. 

Products such as air filters, LED bulbs, water filters, and salt for your water softener are often discounted when you buy them in larger quantities. Keeping spares in your garage will also allow you to avoid extra trips to the hardware store.

Have Your HVAC System Serviced Regularly

Many people completely ignore their HVAC systems for years, but that can be a costly mistake. 

Professionals, like those at A-1 American Services, know that these systems are extremely complex, and minor problems can cause serious damage in a short period of time. 

Scheduling two service calls per year with a local contractor will keep your system running smoothly and potentially save you quite a bit on your energy bills.

Install Moisture Detectors

In addition to inspecting all of your pipes every few months, you might also want to consider placing moisture detectors throughout your home. 

These small devices are extremely affordable, and they can easily be stashed away in areas such as your basement, cupboards, and crawlspaces. 

They give homeowners the ability to quickly catch and repair slow leaks before they result in expensive water damage to the walls and floors.

When it comes to your home, a little bit of preventative maintenance can save you quite a bit of time and energy. These few tips could potentially help you avoid major damage that ends up costing you thousands.

Health Finances: 3 Ways To Bundle And Save On Medical Expenses

Despite the controversy that still surrounds Obamacare and its possible replacement, there's one thing almost everyone can agree upon: Healthcare is expensive. 

Even with a good insurance plan, medical expenses can add up fast. Between premiums, deductibles and copays, many people are left with costly medical bills or simply avoid seeking treatment altogether.

The good news is that there are ways to save even if you don't have the best coverage out there. By bundling healthcare services and making some informed choices, you can learn how to save on medical expenses and keep you and any dependents covered stress-free.

3 Ways to Save on Medical Expenses: Bundle Payments

Health insurance payment bundling is a payment structure that allows you to pay a fixed fee for all the treatments and services pertaining to a particular condition rather than paying for each one individually. 

You can speak to your health insurance provider about their stance on bundled payments; most of the time, payment bundling is offered through employer-sponsored health insurance as a means of cutting costs and providing better care to employees.

Stick to In-Network Providers

Depending on the type of health insurance you have, there may be high costs for visiting physicians and specialists outside of your health insurance network.

Stick to the doctors in your plan's network to avoid paying anything except your co-pay. If you want to visit an eye care professional or other type of specialist, you'll have to see whether or not your plan includes vision services and treatments. 

If not, you can investigate vision insurance plans that will drastically lower the cost of eyewear and eye-related services.

Ask for Discounts and Consider Paying in Cash

If you ask for discounts at hospitals and healthcare providers like All About Eyes, you may find that you qualify for them depending on the circumstance. 

These discounts aren't readily available to people through their insurance providers, so you have to take the initiative and investigate.

You should also consider paying for some services or prescription medications in cash. Surprisingly, wholesale providers like Costco and Sam's Club offer many prescription drugs that are cheaper to buy outright than through insurance.

Cutting Down Medical Costs

Because the healthcare industry is constantly fluctuating and facing a major upheaval over the next year, finding a good plan can be a challenge. 

Payment bundling is more prominent by healthcare providers than ever before, so ask your current provider what type of conditions qualify for payment bundling. 

If you just need ways to save on medical expenses for routine care, ask for discounts, explore your options and openly communicate with your healthcare provider. There are often discounts and other opportunities to save that you might not have been told about when you signed up.

If your current plan isn't cutting it, check out private plans and compare free online quotes from multiple providers. 

At the end of the day, medical expenses are one of those necessities we can't avoid, but we can take measures to ensure our health doesn't have to cost us more than just feeling good.

Out of the Red: 4 Keys to Paying off Your Debts the Most Efficiently

Accumulating debt has both positive and negative effects on your life. You must create some temporary debt in order to improve your credit score, but it can get out of hand very quickly. It's time to get out of the red and into the black by paying off your debts. Explore the smartest way to pay down these balances with efficiency in mind.

Focus on High Interest Rates

The first debt to pay off is the one with the highest interest rate. This debt is growing larger by the day with compounding interest. 

Try to work out a payback plan that reduces this debt first while keeping up with minimum payments on your other balances. By paying this debt off first, you'll save a lot of money on interest so that the funds can be allocated to the next debt.

Add Extra Money to the Principle

Some debts will take considerable time to pay off. As a solution, send extra funds each month to apply against the principal. Most bills have an area to write in this amount with a stipulation that it's for the original balance. 

With this strategy, there will be less interest on the principal because it's much smaller each month. The additional funds don't have to be too large either. Sending an extra $20 one month will still help your cause.

Consider a Payday Loan

A clever way to efficiently pay down your debts is through payday loans. Take a short-term loan on your upcoming check so that a bill can be paid on time. 

Some companies, like Payday Express, know how bad it can be to pay bills late. You'll avoid late fees, and some extra money might be placed toward the principle. Pay the loan back as soon as your employer deposits the money. 

You might try this strategy several times a year so that every bill is paid on time with extra funds added as well.

Try Balance Transfers

If your credit-card interest rate is getting out of hand, consider a balance transfer to another card or account. 

These transfers usually come with a fee, but you'll often benefit from a low or zero-percent interest rate for a short time period. Use this free time to pay off the balance.

Borrowing money from loved ones is a tempting offer, but this strategy can create problems. If payback is difficult, strife between parties can occur. 

Ideally, borrow from a reputable lender and pay it back as quickly as possible. You'll preserve your relationships when you keep financial matters dedicated to the professionals.