How to DIY Your AC Repair and Save Money While Doing It

Your worst-case scenario comes true when you turn on the air conditioning, and it doesn't react at all. With brand-new systems costing thousands of dollars, it's understandable to be concerned about your HVAC's functionality.

There are a few ways to fix your AC as a DIY project. Follow these tips to repair your system while saving money at the same time.

Before You Get In Too Deep

You know if you are capable of trying to repair your A/C. Stay out of your system if you are not comfortable with it. Whether you are needing AC maintenance in Beaumont, CA, or New York City, don't underestimate the importance of a professional's opinion, skill, and experience. Ideally, hire a professional at least once a year.

These experts can test and repair minor issues with your AC. When you make the effort to repair the HVAC on a regular basis, its integrity remains intact.

Switch to Reusable Filters

Although it may seem counterintuitive to repair a system and save money, it's possible when you focus on the AC's filter. Most systems come with a disposable filter that must be replaced several times a year.

Free yourself from this cost by purchasing a reusable filter. Each month, pull the filter out, rinse it, and allow the material to dry. Place it back in the AC unit after completely dry. You'll have a filter that lasts for several years when you consistently clean it off regularly.

Comb It

Your AC's exterior unit has a complex housing with dozens of parallel components open to the elements. These condenser parts are prone to warping because of weather or debris striking it during the year.

Some companies, like A-1 American Services, know that you should be able to avoid replacing the condenser by combing its fins. You're essentially straightening out the condenser's fins so that the system works at its peak efficiency. Save money on condenser parts and the energy bill at the same time.

Check the Large Capacitor

There's a sinking feeling when you suddenly have a problem with the AC's exterior unit. You might hear a buzzing sound with no fan rotation. In many cases, your system may have a bad capacitor or power component.

With a little DIY ingenuity, you can replace this capacitor on your own so that the system powers back on. Give a second life to your AC unit by swapping out this basic part.

Swap out the Thermostat

Control your AC unit with greater ease by replacing the thermostat. There are only a few wires to switch out during the process. Newly manufactured units typically have Wi-Fi connectivity so that you can control the temperature from any location.

These types of thermostats are simple to use, and you won't worry about leaving the system on when you take off for work or school. Save money by switching it on and off as necessary during the workday from the convenience of your phone.

How Your Family Can Become a Part of the 35% of People Who Own Their Home

According to the Federal Reserve, approximately 65.2 percent of families owned their own home in 2013. If you and your family are currently renting a home, you may be wondering what you can to do join the majority of families by buying your first home. 

The home buying process can seem intimidating and challenging if you have never been through this experience before. However, you simply need the right strategy to turn your goal into a reality. These tips can help you to position yourself for success with your goal.

Start Looking at Homes

Some people think that they should not start looking at homes until they are ready to move forward with their home buying plans, but this is not the case. 

When you start looking at homes now, you can learn more about the market so that you can better determine how much money you need to save as a down payment and what a reasonable sales price is. 

You can also define what you need and want in a home through your search efforts. Some people even find that they become more motivated to save for a down payment by dreaming about the possibilities. 

To begin learning more about the real estate market, search for listings in different communities in your area online. You can also tour homes in new construction areas, such as homes for sale in Davis County, Utah, in your free time.

Talk to a Mortgage Broker

You may not be ready to get pre-qualified for a home loan right now, but you can benefit from speaking with a mortgage broker. A mortgage broker can tell you more about interest rates, down payment requirements, credit score requirements and more for different loan programs. 

You may need to take several months or longer to improve your credit rating and save for the down payment, and your conversation with a mortgage broker can help you to develop reasonable goals in these areas. By setting and achieving these goals, you can qualify for the financing you need to buy your first home.

Save for a Down Payment and Closing Costs

Closing costs for a home loan may be as high as two to three percent of the sales price in many cases. In addition to paying for closing costs, you also may need to make a sizable down payment. 

Some loan programs are available for a five percent down payment or less. However, many home buyers prefer to make a larger down payment so that they have equity in their home from day one. 

By learning about sales prices of homes that appeal to you in your local area and about loan programs you could qualify for, you can determine how much money you need to save. You can also adjust your budget so that you can meet your savings goals.

Improve Your Budget

In order to afford a mortgage payment each month, you may need to make adjustments to your budget. For example, you may need to pay off a few credit cards or refinance your car loan. 

These efforts may also help you to improve your credit score so that you qualify for better loan terms. In the months leading up to your purchase, pay close attention to your budget so that you improve your family’s financial health.

If you have never purchased a home before, the thought of owning a home can seem like a distant and even unattainable dream. However, many people are currently enjoying the benefits of being a homeowner, and there is no reason why you cannot join their ranks. 

By following these tips today, you can more easily position yourself to buy a home within the next few months or years.

Learn for Less: 4 Creative Education Options for Frugal Families

Schooling is very important. For the youth to succeed as adults, they must receive a quality education. However, education can sometimes be extremely expensive. College Data reports that the average cost for a year of school at a private college in 2017 was $33,480. 

Unfortunately, it’s not just college that can be expensive. Costs incurred during elementary school and high school can also be a significant financial burden on a family. 

Thankfully, there are ways to save. Below are four creative education options for frugal families you should consider.

Be Strategic about School Supplies

One of the biggest school related expenses, especially for students in high school and elementary school, is the cost of school supplies. An article by neaToday reports that the cost of school supplies on average can be as high as $200 for elementary school students and as high as $375 for high school students. 

However, these costs can be brought down significantly if parents use some strategy while shopping for school supplies. First, try to buy early. If you buy school supplies for the next year well into the current school year when those supplies go on sale, you could slash the cost spent by a very large percentage. 

Also be careful about the stores you choose to shop at. Dollar stores may have better deals than larger retailers. It also doesn’t hurt to save left over school supplies for the next year.

Online Schools

The advent of the internet has completely transformed society. This is no different for the education system. The internet has in fact allowed education to reach far more students than what was previously possible. 

As you should well know, the cost of a child’s college education can be one of the largest expenses a family has to pay for. However, attending an online school can bring down that expense significantly. 

Not only is tuition generally much lower, the student will also save on expenses related to commuting or living on campus. While online school is usually thought of as something implemented by college students, elementary and high school students that are homeschooled can attend online schools as well. This may create significant cost savings compared to attending a private or even a public school.

Be Your Children’s Tutor

Some children struggle with school. While you would assume the school day would be enough to make sure they are up to speed on math, English, science and other subjects, that is not always the case. 

Often, tutoring is required to make up the difference for many struggling students. Unfortunately, tutoring services can also be exorbitantly expensive. According to Angie's List, a tutor can charge as much as $85 an hour. One obvious solution is to tutor your children on your own. 

This will of course require more work on your part, but it’s also extra time to bond with your kids. Make sure, however, you are actually helping them to learn. Completing their work for them or providing them with the answers is not the same thing as tutoring.

Prepaid College Tuition

One cost saving measure you may have not heard of is prepaid college tuition. US News reported that college tuition grew by 80 percent between 2003 and 2013. 

Prepaid college tuition allows you to lock in current rates now so you don’t have to pay for the eventual increase in the future. Investigate whether or not prepaid tuition is available in your state.

Education for children can certainly be expensive. However, it’s an absolute necessity for a person’s long term future. Try to find ways to lower the costs to help ensure that your children receive the quality education they deserve.

5 Smart Ways to Use Your Lawsuit Settlement Money

So, you just received your lawsuit settlement money after a lengthy and tedious personal injury case. You are probably feeling anxious as well as excited. Unfortunately, settlement money can cause a world of problems. 

Distant family members, friends, neighbors and even people you’re not acquainted with will start showing up with dubious excuses trying to get some money from you. You might be tempted to give in to their schemes or your desires such as buying a luxury car or even quit your job simply because you can. 

Now, how do you ensure that the excitement and such individuals do not get the best of you? Below are five smart ways to use your lawsuit settlement money.

1. Invest in your health

It’s quite tempting to use the money for other purposes such as starting a business or paying loans. However, your priority should be your health. Have you fully recovered from the injuries? 

If not, ensure that you receive the best care to help with your recovery. Property and luxury houses are irrelevant if you do not take care of your health.

2. Save

Before you start spending, save. Take a hard look at your living standards and think about your future. If the injury was severe and you can no longer work, then it is imperative that you save to safeguard your future. 

Take a look at your savings and retirement account and ensure that you have saved more than enough.

3. Pay off your debts

Next, take care of all your debts. When you suddenly receive a financial windfall, it is very easy to forget your debts. Talk to your lawyers and have them draft a list of all your debts including lingering medical bills, loans, and credit cards. 

Paying your debts improves your credit score, puts your mind at peace and allows you to stash money into your savings account. 

4. Get life insurance

Often, after receiving lawsuit settlement money from a personal injury case, you get to review your life. 

When this is the case, you realize that life is too short and if you don’t have a life insurance, it’s about time you got one for the sake of your family’s coverage. Protect the future of your loved ones. 

5. Get a financial adviser

Emotions can be hazardous to your recently acquired lawsuit settlement money especially after a personal injury case. To ensure that you don’t make silly mistakes or have regrets, get a reputable financial advisor. 

A financial adviser can relieve the pressure; provide you with expert and unbiased advice on how to spend the money.

Financial windfall matters are not only overwhelming but are also complicated. There are so many ways to spend the money. Have a plan and avoid succumbing to temptations.