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Take the Quiz: Are You a Savvy Homeowner?

Learn more to improve your home’s financial health


Couple reviewing their finances while using laptop on couch.
PHOTO CREDIT: Getty Images

April is National Financial Literacy Month. That makes this the perfect time to assess your financial savvy as a homeowner. Protecting your investment and budget takes planning and regular upkeep, as well as following smart financial strategies. Take this short quiz to find out how you can be better prepared.

Question 1 of 5

Some ways to help manage home expenses include:

Smart homeowners are proactive about making sure their appliances and home systems are well-maintained and running efficiently. Even with these efforts, breakdowns are inevitable. That’s why experts recommend allocating one to four percent of the value of your home to a fund for maintenance and repairs. If you have an older home that hasn’t been updated in a while, you’ll want to save on the higher end of the recommended scale.

Question 2 of 5

An energy audit can help reduce utility costs. It should include steps like:

A home energy audit is a comprehensive inspection and assessment of your home’s energy usage. It includes evaluating factors like insulation quality, air leaks, heating and cooling efficiency, and the performance of key appliances. The goal is to pinpoint areas where energy is wasted and determine the fixes that can lead to lower utility bills and an eco-friendlier home. You can take most of these steps on your own. However, if your audit uncovers signs of safety concerns with your electrical wiring – like buzzing sounds from outlets or frequent tripping of circuit breakers – you’ll want to call in a professional electrician.

Question 3 of 5

Having a home warranty plan is another smart financial strategy to protect your budget.

Practicing preventative maintenance can help avoid costly repairs. However,  appliances and major systems will inevitably fail from normal wear and tear. When they do, a home warranty could save you hundreds or thousands of dollars on the cost of repair or replacement of covered items. 

Question 4 of 5

AARP members get exclusive savings on an American Home Shield® (AHS) home warranty plan. 

AARP members can save $36* or more on an American Home Shield home warranty. Plus, this discount can be combined with any valid statewide promotional offer for additional savings.

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Question 5 of 5

A home warranty plan from American Home Shield can provide coverage for the major components of your home systems or appliances for which of the following:

Unlike a manufacturer’s warranty, which covers a malfunctioning component of a single appliance or system, an American Home Shield home warranty plan protects parts of up to 23 systems and appliances. You can even select add-ons, like coverage for swimming pool and built-in spa equipment, electronics, and more.

When you choose an American Home Shield home warranty, you’re choosing a proactive way to protect your budget and gain peace of mind. No maintenance records or inspections are required. 

You have unanswered questions. Please go back and complete those questions to finish the quiz.You have unanswered questions. Please go back and complete those questions to finish the quiz.

Click here to find out how you can save $36* or more on any AHS home warranty plan when you use your AARP member discount. This discount can be combined with any valid sitewide promotional offer for additional savings!

 

Available to new American Home Shield members only; discount cannot be applied to previous purchases. Not valid in conjunction with a real estate transaction or renewal. Discount only available for single-family homes under 5,000 sq. ft. (includes condos and townhomes). Coverage may not be available in all areas.

See the plan agreement for coverage details, including service fees, limitations, and exclusions. Charges for non-covered items may apply.

AARP member benefits are provided by third parties, not by AARP or its affiliates. Providers pay royalty fees to AARP for the use of its intellectual property. These fees are used for the general purposes of AARP. Some provider offers are subject to change and may have restrictions. Please contact the provider, American Home Shield, directly for details.

New Jersey residents: The product being offered is a service contract and is separate and distinct from any product or service warranty that may be provided by the home builder or manufacturer.

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