Green Ideas to Save for your Mortgage!
Saving for your Canada mortgage and keeping your monthly budget in line can turn out to be a stressful task indeed. Although opening up a savings account and cutting down on your monthly expenses does seem to do the trick for most families, a lot of people find it difficult to manage their mortgages effectively when the interest rates start fluctuating.
Most people are lately realizing the importance of being environmentally responsible in their way of living. But did you know about the financial perks that come with going green? Explore the following simple and eco-friendly ways to recycle, reuse and reduce and you will be surprised at the benefit they have on your savings!
And what’s more, living in a green way often helps you tackle rising mortgage rates effectively. As the world celebrated earth day just a few days back, it is time to benefit the environment and your household through these green living tips! Take a look:
Let Solar Panels do the Magic!
Solar energy is steadily becoming the most popular form of renewable energy because of its enhanced benefits. Solar energy panels in your home can not only bring a reduction to your monthly electricity bill, but also reduce the amount of taxes you pay.
The level of carbon emissions constitute a major part of your taxes, and as solar panels reduce the number of carbon emissions, you automatically save on a lot of your hard-earned cash! This can be effectively used to pay off your Canada mortgage in time and decrease the amount of debt from your shoulders!
Switch to Energy Star Appliances
A lot of people don’t realize that their monthly utility costs are actually hogging a considerable portion of their income. Electricity bills in particular account for a major portion of your utility bill, and reducing the electricity usage can definitely make way for bigger savings. This way, you can manage your budget even when the mortgage rates tend to seem unaffordable and reduce the risks of losing your home due to defaulting or foreclosure.
In addition to limiting your electricity use daily, you can also switch to energy star appliances. These are industry certified for using up a lesser amount of energy and therefore bring down your electricity bills to a large extent.
Improve Your Home in a Green Way
Adding improvements in your house can not only increase its valuation but also earn you extra credits and result in tax cut downs. For example, adding security locks or secure plumbing in your house often earns you discount on taxes, and also make your property value attractive for buyers in case you wish to sell off your home in the future.
Opting for non-toxic paints and emulsions and adding eco-friendly flooring and roofing can prolong the life of your amenities and result in lesser maintenance costs and greater benefits down the road.
Aside from these tips, there is still a lot you can do to make your house eco-friendly and ultimately do a favor to your finances and the planet. Start reducing, reusing and recycling today to save more for your Canada mortgage and make the earth a better place to live in!