Whether you’re a renter or a homeowner, chances are you care about protecting the environment – and saving money. Here are some tips from Table Rock Community Bank to help you do both.
Light up the house, not the electric bill. Replacing incandescent light bulbs with more energy efficient compact florescent light (CFL) bulbs will save you about $6 a year in electricity costs per bulb and more than $40 over its lifetime. According to ENERGY STAR, if every American home replaced just one light bulb,we would save enough energy to prevent 9 billion pounds of greenhouse gas emissions per year. Remember to recycle used CFL bulbs. Go to www.epa.gov/bulbrecycling for recycling locations.
Some like it hot,hot, hot…or cold, cold, cold. Closely monitor your thermostat. Adjusting it just a few degrees while you’re out can save energy and money. You can make it easier by installing a programmable thermostat. Use fans and close the blinds during the warm months and let the sun in for natural warmth in the winter. Also, change your filter every three months.
How low can you go? One way to save water is by using low-flow toilets. The most cost-effective way to do this is to simply take a 1 liter plastic bottle, fill it with water and place it inside the tank. This will reduce your water use per flush. Another way to save water is placing an aerator on all of your faucets.
Make it mean-green-clean. Cleaning supplies can be expensive and are made with toxic chemicals. You can save money and the environment by making your own cleaning supplies. All you need are some basic household ingredients like vinegar, lemon juice, baking soda and borax to clean everything from windows to tile. Look online for recipes and suggestions.
Reduce, Reuse,Recycle! Sticking to this mantra can help you save money around the house. Use a rag instead of paper towels. Buy products in bulk, concentrate or refillable containers to reduce packaging waste. Look for products made from recycled content. And don’t forget to recycle!
Win-dos for your windows.There are a number of ways you can make your windows more energy efficient without replacing them. For better insulation from the weather you can caulk exterior joints, put shrink wrap on them or hang blackout curtains.
Fan the green flames. To keep your refrigerator running efficiently, keep the fan clean. The motor won’t have to work as hard if the fan is clear of debris.
Decorate green. Houseplants are like living air-filters. English Ivy, rubber trees, peacelilies and red-edged dracaena can help clean the air and look pretty too.
Vampire energy is sucking you dry. On or off, anything plugged into the wall sucks energy. Vampire powercosts U.S. consumers more than $3 billion a year, according to the U.S. Energy Information Administration. Unplug your electronics and appliances when they’re not in use.
For more green homesolutions, visit: epa.gov/greenhomes
We are pleased to announce that Larry Schmitt has joined Table Rock Community Bank’s Board of Directors. Larry brings a wealth of experience and expertise that will help guide the future of Table Rock Community Bank.
About Larry Schmitt
Larry Schmitt is a Springfield native that has lived in theTri-Lakes region since 1979. Larry graduated from College of the Ozarks in 1984 with a Bachelor of Science Degree in Business Administration and was inducted into the College of the Ozarks Sports Hall of Fame in 2002 for his baseball and basketball accomplishments.
From 1981 to 2000, Larry was employed by Silver Dollar City Incorporated. Starting his career at White Water and serving in many positions at Silver Dollar City, White Water in Branson and in Texas, and The Showboat Branson Belle.
From 2000 to 2016 Larry served as Principle Owner and President/CEO of Recreational Management Inc. dba/The Tracks in Branson. In 2005 The Tracks won the Small Business of the Year Award for Branson and “The Fast Track Award” presented by The Missouri Chamber of Commerce for one of the fastest growing companies in the state.
Over the last 20 years Larry has served on numerous Board of Directors: The Rock Chamber of Commerce for 8 years, Branson CVB and Chamber of Commerce for 6 years, Tourism Community Enhancement District for 6 years, Skaggs Foundation for 3 years, Skaggs and Cox Branson Hospital for 6 years, Cox Health Insurance Plans for 3 years, Project Branson for 3 years,Tourism Community Improvement District for 2 years and Central Bank for 14 years.
6 Items for Your New Home’s To-Do List
Now that you’re settling in to your new home, there are some important things you need to consider. Table Rock Community Bank recommends the following tips.
1. Create a budget.
The key to a good budget is including as much information as you can, so that you can adequately prepare and plan. It's important to keep accurate records of your spending so you can spot places to save money and know how much you can reasonably spend.
2. Protect your property.
Whether you’re a homeowner or a renter, you need insurance to protect your belongings. Check with your local insurance agent, you might be able to get a discount if you have things like dead bolt locks, an alarm system, or smoke detectors, or if you already have a policy with that company, like car insurance. Also, find out if you’re in a flood zone. If you’re concerned about flooding, you will need to purchase a separate flood insurance policy. Learn more at floodsmart.gov
3. Protect your safety.
Make sure all of the locks on your doors and windows work properly. If it makes you more comfortable, look into having an alarm system installed. Also, check your fire and carbon monoxide alarms once a month to be sure they’re working. If you have a dryer, clean the lint from the entire system, from the dryer to the exterior vent cap. Lint is extremely flammable and poses a fire risk.
4. Take your tax deductions.
Be sure you know all the tax deductions associated with your move and new home. If you use a portion of your home for business purposes or moved for a new job, you may be able to take deductions. Home owners can deduct mortgage interest, property taxes and loans for home improvements.
5. Make your house – or apartment – your home.
Decorating your space will make it more comfortable and personal. If you’re a tenant,check with your landlord before making major changes like painting the walls or changing the appliances. Renters should take photos of the rental space before moving in to document the existing condition and insist on a final walk-through with the landlord. If you own your home, be smart about where you invest your money on improvements to ensure you’re building equity in your home. For example, updates in the kitchen and bathroom usually provide the best return on investment.
6. Save up for a rainy day.
Although life may be sunny now, it’s a good idea to create a rainy day fund. The fund should have at least three to six months of living expenses in case you or someone in your household loses a job or becomes ill and unable to work.
MEMBER FDIC. EQUAL HOUSING LENDER
MEMBER FDIC. EQUAL HOUSING LENDER
For more information, visit aba.com/consumers
To Buy or Not to Buy: 5 Questions to Consider Before
Purchasing Your First Home
In recognition of American Housing Month, Table Rock Community Bank is highlighting five questions first-time buyers should consider before purchasing a home.
1. How much money do you have saved up?
Start with an evaluation of your financial health. Figure out how much money you have for a down payment or deposit on a rental. Down payments are typically 5 to 20 percent of the price of the home. Security deposits on rentals are usually about one month of rent and more if you have a pet. But be sure to keep enough in savings for an emergency fund. It’s a good idea to have three to six months of living expenses to cover unexpected costs.
2. How much debt do you have?
Consider all of your current and expected financial obligations like your car payment and insurance, credit card debt and student loans. Make sure you will be able to make all the payments in addition to the cost of your new home. Aim to keep total rent or mortgage payments plus utilities to less than 25 to 30 percent of your gross monthly income. Recent regulatory changes limit debt to income (DTI) ratio on most loans to 43 percent.
3.What is your credit score?
A high credit score indicates strong credit worthiness. Both renters and homebuyers can expect to have their credit history examined. A low credit score can keep you from qualifying for the rental you want or a low interest rate on your mortgage loan. If your credit score is low, you may want to delay moving into a new home and take steps to raise your score. For tips on improving your credit score, visit aba.com/consumers.
4.Have you factored in all the costs?
Create a hypothetical budget for your new home. Find the average cost of utilities in your area, factor in gas, electricity, water and cable. Find out if you will have to pay for parking or trash pickup. Consider the cost of yard maintenance and other basic maintenance costs like replacing the air filter every three months. If you are planning to buy a home, factor in real estate taxes, mortgage insurance and possibly a home owner association fee. Renters should consider the cost of rental insurance.
5. How long will you stay?
Generally, the longer you plan to live some place, the more it makes sense to buy. Over time, you can build equity in your home. On the other hand,renters have greater flexibility to move and fewer maintenance costs. Carefully consider your current life and work situation and think about how long you want to stay in your new home.
MEMBER FDIC. EQUAL HOUSING LENDER
Tips for Family and Friends:
What are the warning signs of financial abuse?
The key to spotting financial abuse is a change in a person’s established financial patterns. Watch out for these “red flags”:
Information is provided by American Bankers Association. For more information please visit: