# How Math Helps You Save Money On Your Home

Many students think they will never use the concepts from geometry class. Buying a house is one of those times that knowing how to use a calculator will come into play. Read on to find out how math will help you save money on your home.

## Understanding Finances

You will never get tired of learning about finance. Knowing about interest, loans, and types of equity will help people in buying and keeping a home for as cheap as possible. Certain financial factors determine whether you can purchase a house. They even determine the terms of your mortgage.

After you purchase your home, finance still comes into play. Financial planning is essential when running a household. You have to prepare for emergencies, make repairs, and complete home improvement projects.

It helps to know math, and a calculator can be your best friend. You need to keep track of your monthly bills. It also helps to know how to determine the cost of materials. If you do not understand math, then you could struggle financially.

## Saving on Electricity

If you have a high utility bill, then you should consider solar energy. Humless explains, “as manufacturing quality has improved and technical efficiency increased, the price of solar-powered products has dropped, making solar energy a hot ticket item for homeowners.” With the wide availability of solar products on the market, going solar has never been easier or more affordable.

When it comes to saving, the amount depends on certain factors. These factors include location, incentives, and your energy usage. Location has an effect on your electricity rates. The average rate is 12.95 cents per kilowatt an hour.

A standard residential 5-kilowatt size system costs from \$3 to \$5 per watt. This price is before adding in tax credits and incentives. Solar panels can be expensive. However, the long-term savings can make up for the upfront expenses.

## Saving on Water Usage

A healthy lawn is a big part of curb appeal. If you want to keep your grass green, then you have to make sure it gets enough water. A 10 by 10 lawn needs over 62 gallons of water. You can calculate the amount of water by multiplying the width times the length of your yard. This calculation will give you the number of square feet per area. You want to multiply this figure by 0.623 to determine the number of gallons of water used.

This calculation helps to determine the amount of water necessary for keeping your yard green. You can cut down on water usage by using only what you need.

## Saving on Remodeling

Some homeowners overspend on common home improvement projects because of not knowing the upfront costs. You have to plan and budget when completing a remodeling project. If you want to put down a new driveway, then you need to know how much concrete to buy. Knowing the exact amount of materials helps with saving money.

Gra-Rock Ready Mixed Concrete explains, “ready mixed concrete is sold by the cubic yard, often referred to as simply a “yard”. The average concrete truck can hold 9 to 11 cubic yards of ready mixed concrete. Also, a cubic yard of concrete will give you around nine wheelbarrows of concrete. If you’re able to identify the volume you need (Plus about 5-10%) you are less likely to waste money in buying way too much or end up panicking because you have way too little.”

Replacing the interior doors is another common home improvement project. To replace an interior pre-hung door, you need access to the door frame to get accurate measurements. You must calculate the jam depth, which is the width of the wall. Standard wall width measurements are either 4-9/16 or 6-9/16 inches.

## Saving on Insulation

Good insulation prevents your heat from leaving through the walls and roof. This Old House explains, “insulation is given a rating of R-value or thermal resistance. A high R-value means the more effectiveness of the insulation, and it helps to keep your home comfortable.”

If you want to know the R-value of the insulation in your home, then you need to know the thickness of the insulation and the R-value of the existing insulation. You have to multiply the two numbers to determine the total R-value.

## Saving on Homeowners Insurance

Homeowners insurance is a policy that can be expensive, but it come in handy when something goes wrong. The purpose of insurance is to protect you financially due to an unforeseen event. If your house burns down, then having homeowners insurance would provide you with the money to rebuild. People who do not have this insurance could sink further into debt.

Installing a home security system can also help you save money on insurance. Safety.com explains, “When you choose ADT monitoring, you will receive a Homeowner’s Insurance Certificate. You can show this to your insurance company to find out how much you may be able to save.”

You can also save money on insurance by raising your deductible. For example, if you raise your deductible from \$250 to \$500, then you will see a reduction in your bill. However, you are responsible for paying the \$500 when something goes wrong. Raising your deductible is best when you have an established emergency fund.

## Saving on Property Tax

One of the responsibilities of becoming a homeowner is paying property taxes. This tax helps with maintaining roads and keeps your city running efficiently. However, you have control of the amount of taxes that you pay. It is done by reducing your property taxes.

Your property tax is calculated based on four things. These things are the tax rate, the assessed value, the assessment ratio, and the property’s appraised value. To figure out your tax payment, you have to multiply the assessed value by the tax rate.

Keep in mind that certain home expenses are also tax deductible. Arlington Development explains “home improvements are designed to enhance the quality and value of a home and are considered a wise personal investment. As a result, you can deduct them because you are working to improve the quality of your home.”

After closing on your home, you still have to continue to work. Becoming a homeowner is a big responsibility. These are some of the things necessary for maintaining your home. To follow these savings tips, you should become familiar with using math to keep your household running efficiently.

How Math Helps You Save Money On Your Home
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