If you’re among the 71 percent of Americans who are cooking at home more and eating out less to help cut costs,* then these tips may help you save even more.

Plan ahead. Cut coupons and review your grocery store’s weekly circular (often available online or via email), then create a menu for the week that takes advantage of the deals. Consider how you can use leftovers. And always shop with a grocery list.

Stick to the perimeter. You’ll find fresh produce, meats, dairy products and frozen foods along the outside of most supermarkets. Concentrate on this area for the healthiest and most reasonably priced items in the store.

Think value. Consider the nutritional value of food for the price and opt for nutrient-dense rather than calorie-dense items. A bag of carrots offers a lower price and higher nutrition than a bag of chips, for example.

Eat before you shop. A hungry shopper is an impulsive shopper .

Cook in bulk. Prepare more than you’ll eat, and freeze what’s left for an easy meal another day. Just be sure to keep a leftovers list so that you remember what’s in your freezer.

* Source: “Seven in Ten Americans Cooking More Instead of Going Out to Save Money,” Harris Interactive, May 2012.

Building your dream home is exciting! However, there are many unknowns, some of which are beyond your control. How long will construction take? Will the builder complete everything according to the plan? What will the final cost be? Securing financing for your construction project is a critical step in the process — and it’s something you can control.

New Construction Loans

Getting financing for new home construction is slightly different than getting a mortgage for an existing home. Here’s what you need to know:

• A construction loan is typically set up as a variable-rate loan during the construction period.
• Interest-only payments are made during the construction period, which can range up to six months.
• A draw schedule for the loan is agreed on by the borrower, the contractor and the lender. This ensures funds will be available during each phase of construction.
• If the borrower owns the land, the lot may be considered equity for the construction loan.
• A certificate of occupancy is issued when the home has been inspected and meets certain building codes. At this stage the home is considered livable, which means financing can be obtained with a mortgage loan.

Construction-to-Permanent Financing

When the principal balance comes due at the end of the construction phase, a new mortgage pays off the existing construction loan. If you have construction-to-permanent financing in place, the construction loan converts to permanent financing after the construction period. You enjoy the convenience of one loan, one application and one closing
date. In addition, you have the flexibility to choose a mortgage program that fits your long-term needs. Doing so makes it possible to lock in a low, fixed rate for your permanent financing.

At Navigator, our mortgage experts can help you explore financing options carefully so you can begin the construction phase with confidence.

When making financial decisions, you can cross your fingers and hope for the best, or you can use our financial calculators at https://navigatorcu.org to make a well-informed financial decision. Simply plug in the information you know, and let the calculator do the work to show you the big picture. We have calculators to help with almost any financial decision such as:

• Retirement savings. Determine how much you need to save for a comfortable nest egg to sustain you during retirement. Use retirement calculators to compare retirement savings plans or find out how much you may receive in Social Security.
• Debt elimination. Figure out how long it will take to pay off your credit card or loan. Credit calculators will also help you determine if consolidating your debt would be beneficial to you.
• Savings planning. Calculate how much you need to save — and how long — for your goals, from long-term goals such as homeownership to shorter term goals like a family vacation. Have you ever wondered how long it will take to become a millionaire? Our savings calculators will tell you this — and so much more!
• Mortgage payments. Determine what your mortgage payments would be based on purchase price and interest rates. Look to our home calculators to determine how much home you can afford.
• Car affordability. Use factors such as interest rates, trade-in value and down payment to discover how much you can afford to spend on a car. Auto calculators can help you determine financing options that work best within your budget.

Check out these calculators and more at www.navigatorcu.org. Meet with a Navigator Certified Financial Counselor to help you fine tune your finances and turn those numbers into real savings and a bright future. Call 228-475-7300 to make an appointment today.

From groceries to gas, the basics are getting more and more expensive. That’s why it is important to save money where you can, now more than ever. The following are some quick tips on how to cut everyday expenses.

Start couponing. Don’t underestimate the cost-saving benefits of couponing. Though the savings provided may only be a few cents, it can add up to be a lot in the long run. Take a few minutes before you run to the store and check out the local coupons available both in newspapers and online. Better yet, make time for couponing on a weekly basis and watch your savings grow.

Buy used. For everything from clothes to kitchen utensils, thrift stores are definitely worth a look. While it may take a little more time to find exactly what you’re looking for, you’ll save money and have the comfort of knowing you’re helping our environment at the same time.

Buy in bulk. Buying in bulk from warehouse stores can help you save money on everyday food items. If you’re worried that the bulk amounts will be too much for you, try splitting the goods (and the bill) with family or friends for an even lower price.

Look for discount days. Certain places, like grocery stores or movie theaters, may have certain days of the week or month when prices are discounted. For example, grocery stores may offer double coupon rewards to seniors who go grocery shopping on specific days and times. Look in your local newspaper and online to see if any stores near you have such days.

Maintain to save. Keep your car in tiptop shape to help cut your gas expenses. Paying special attention to your engine and making sure your tires are properly inflated can help you get more miles out of a tank.

Make the most of low rates. Mortgage rates are at historic lows, so if you are considering refinancing, the time has never been better. With a lower interest rate your monthly payments could decrease, so contact a mortgage representative at Navigator today.

Use online bill pay. Sign up for online bill pay at Navigator. Opting in to online bill pay will not only save you money on postage, it can ensure that your bills are paid on time and could prevent you from incurring late fees.

Think Small to Save Big

Saving money starts with small everyday actions. Though cutting coupons or buying in bulk may not seem to save you a lot of money, remember that a penny saved is a penny earned. And when you save a lot of pennies, you can start saving big.