A new year means new financial goals. What are you looking to accomplish in 2021? Let your experts at Liberty Bay help! We’ve researched three of the most compelling financial opportunities to watch out for in the New Year. It’s never too early to get started.
Buy a Home
Now that mortgage rates are at an all-time low, it’s the ideal time to buy a home. Experts predict that mortgage rates will stay around the low 3% rate well into 2021. This means it could be a great time to achieve your dream of becoming a homeowner!
Whether you are looking to purchase your first home, move up to a new home that better suits your needs, or tap into your home’s equity, LBCU has homeowner solutions just for you.
Invest in technology
Technology stocks are expected to be on the rise in 2021. Since online shopping has grown in importance during the pandemic, experts predict that the demand for convenient online shopping services will grow. Companies that support these new practices will likely increase in value.
As the world turns to green power, so should your portfolio. Invest in causes you care about, from alternative energy, pollution controls, green transportation, waste reduction, and more. There are plenty of options to choose from, including sustainable mutual funds.
Taking steps to be more sustainable and environmentally conscious in your daily life can also save you money in the long run. Give your budget some extra padding with these tips.
Become more energy-efficient
There are several areas in your home where you could reduce energy consumption. Here’s a quick list:
- Ditch the dryer. Dryers use a lot of electricity, and can be rough on your clothes as well! Use a clothesline or a drying rack to cut costs and make your clothes last longer.
- Remember to unplug. Unplugging appliances or lamps you’re not using, as well as devices that have already been charged could reduce your overall electricity bill.
- Swap your lightbulbs. Energy-efficient lightbulbs may seem more expensive at first glance but will use less electricity and can even last much longer than other bulbs.
Go meatless and invest in a coffee machine
Small splurges on meat or coffee shop drinks can add up over the year.
Opting to go meatless one day per week can help you save on groceries since meat is more expensive than plant-based foods. It’s healthy for you, too!
In addition, if you’re a coffee-lover, you might want to invest in your own coffee machine or a reusable coffee cup. A coffee machine might be pricey up-front, but you can use it year after year to make yourself high-quality coffee at a lower price than most coffee shops. If you can’t resist your coffee shop treat, many major chains offer a bring-your-own-cup discount.
Find reusable swaps or buy second-hand
It’s amazing how many things we use on a daily basis can be switched out for reusable alternatives. This includes paper towels, napkins, and even menstrual products (goodbye, pink tax!). Replace your paper towels, napkins, feminine products, and more.
Nowadays, it’s also easy to find slightly-used or like-new furniture, clothes, books, and electronics. People who are moving and students who are graduating or moving home for the summer tend to be eager to get rid of belongings that they don’t want to take with them. Buying second-hand will not only save you money, but prevent perfectly good items from ending up in the landfill.