Money Hacks

About.com has posted a list of ten ways to cut the cost of your homeowner’s insurance:

1. Raise your homeowners’ insurance deductible. Raising your deductible is an easy way to reduce your premium on any sort of insurance.
2. Combine your homeowners’ insurance and auto insurance policies. This is a common piece of advice for reducing auto insurance premiums. Most companies give a discount if you carry more than one type of coverage.
3. Ask about other homeowner’s insurance discounts. Some companies offer rate reductions for various pieces of safety equipment, for example.
4. Don’t buy homeowner’s insurance coverage you don’t need. If you don’t have jewelry, don’t protect against its loss.
5. Make your home a better insurance risk. We know that when we finish replacing the knob-and-tube wiring we can get a rate reduction. This gives us some motivation to finish!
6. Know what your homeowner’s insurance policy covers. It doesn’t hurt to read through the policy every couple of years to make sure you still have the coverage you need.
7. Keep your insurance coverages up-to-date. When you make changes, let your agent know.
8. Avoid risks that insurers shun. Trampolines? Swimming pools? Vicious dogs? These things can raise your rates.
9. Improve your credit score. It’s a controversial practice, but many insurers are tying rates to credit scores. They believe credit scores offer an indication of potential risk.
10. Shop around. If you’re unhappy with your current rates, get quotes from three other companies.

Most of these tips are common sense, and similar to “how to get cheaper car insurance” lists. But it’s a good list nonetheless.

[About.com: Ten ways to cut your homeowner's insurance premiums, via Lifehacker]

Every year before we moved into a dorm room in college, we went over a comprehensive inventory list with our resident assistant. We checked to make sure everything was present and in working order. If, at the end of the year, we left the room damaged, we were charged for repairs.

This same principle can be used to your advantage of you rent your home or apartment. Most rental properties require a security deposit to protect against tenants leaving a building with damage. But not every landlord requires a pre-move-in inventory.

A quick-and-easy way to protect yourself against the loss of your security deposit is to thoroughly document your rental before you move in and after you move out. Bring a friend and a digital camera. (A video camera is better. If possible, bring the landlord too.) Move from room-to-room photographing and documenting everything. If there are any major problems, put them in writing and have your landlord sign to acknowledge the situation.

These precautions aren’t foolproof, but they can help bolster your case if a dispute does arise.

More information here and here.

Bankrate has a list of ten ways to come up with cash for a down payment on a new house.

1. Pay off your credit cards
2. Ladder CDs to boost savings
3. Use special programs
4. Tap your IRA
5. Borrow from your 401(k)
6. Get a gift
7. Ask for a raise
8. Get a second job
9. Look for lost loot
10. Auction unwanted items

By using one or more of these methods, one can accumulate a sizable chunk of change. The bigger the down payment, the less one has to finance. That’s a good thing.

[Bankrate: 10 ways to come up with a down payment]