If you have any outstanding debt, the time to pay it off is now. Not only will a reduced debt load make it easier for you to qualify for a mortgage, but you will find that the costs of homeownership will quickly eat into any money you had planned on putting aside for paying old bills. Old debts also collect interest, which means the longer you hold on to them, the more they cost you.

But as far as homeownership goes, the biggest problem with old debt is the approval for a mortgage. Less debt and smaller debt payments will mean a mortgage company will trust you with a larger amount to purchase your home with. A higher debt load may limit the size of your mortgage, forcing you to look at smaller homes than you were hoping to see, or look in neighborhoods that you had hoped to avoid.

Either way, you should adjust your savings to unload some debt, and still have some savings left for the down payment.

Debt consolidation, including mortgage refinancing, is growing in popularity, and an increasing number of homeowners are jumping on the bandwagon in an effort to improve their overall financial standing.

One of the big advantages of debt consolidation is that often, when people see their balance dropping steadily each month, they are encouraged and work harder toward decreasing their debt even further.

Another reason debt consolidation can be so appealing is that having less debt makes it easier to get approved for a home loan. For renters this opens the door to home ownership; and for homeowners looking for help on their existing loan, this could mean refinancing.

However, borrowing against your house in an effort to decrease debt can backfire: you miss a payment or default on the loan and you lose your house. Although many homeowners in debt looking for a quick fix would rather not admit it, the best approach to debt consolidation is the more painful option – a change in behavior and attitude when it comes to handling money.

If you are not careful, many Americans who take out a loan to pay off credit cards or unsecured debt end up in worse shape within the next two years.

And remember, Consumer Credit Counseling Services advises homeowners to keep an eye on their debt ratio, and aim for monthly debt obligations to equal no more than 20 percent of their take-home pay.

Of course, that brings up the question, “Why do these loans have lower interest rates?” It’s pretty simple. It’s because you have to put up your home as collateral. Now, it should go without saying here that this could become a potentially dangerous position for you if you do not take proper fiscal responsibility once the loan is executed. After all, a disaster in this avenue could lead to losing your home.

If there was a sage piece of advice I could give about this particular decision, it would be that once the balances of your credit cards are at zero then the cards should never be touched again. Once the home equity loan option has taken care of the immediate financial needs, it should be enacted or else the results could be negative.

Keep in mind if debt skyrockets out of control once again and the inability to pay becomes a reality then your home may very well be foreclosed upon. Needless to say, this would be a disastrous situation. So the use of a home equity loan should be done to facilitate a new leaf as opposed to the support of bad habits.

1) Set A Reasonably Comfortable Temperature – Don’t set the temperature to the lowest extreme or the air conditioner will never cycle off, which will rack up your bill in no time.

2) Have Refrigerant Levels Tested – A refrigeration mechanic or contractor can test your system to determine if you have a refrigerant leak. If your system appears to be either cooling or heating less than normal, it is a good sign that you may have a gas leak.

3) Learn How To Use Your System Properly – If you are not entirely sure how to use your air conditioning system, chances are you might be using it wrong. Talk with an air conditioning contractor or take the time to look over the users manual for some good advice advice on how to best run your system.

4) Clean Filters & Air Ducts -Finally, give your air ducts and filters a quick clean. You’ll be surprised how simple it is to do, and your air conditioner will probably run better because of it.