![]() Search for tile, vanities, mirrors, hardware-even doors. Facebook Marketplace is my go-to for this one. You have a hammer, right? And you’re a decent painter, aren’t you? A little DIY can save you hundreds of dollars. Do you really need a company to demo your shower or your tile flooring? Nah. You’d be surprised how much one quote can differ from another.ĭIY where possible. You can’t get three quotes for every task-but if something’s more than $1,500, I’d get more than one quote. Get multiple quotes for the high-dollar items. There’s always something that will hit that you’re not expecting-so be sure to plan for it. Our home renovation Excel spreadsheet automatically puts a 10% contingency into your budget. Now there’s absolutely no excuse not to use one.) If you do this, you’ll be worlds ahead of most people. Get yourself a home remodel budget worksheet and fill it out. How can you guard your money from the same fate and actually keep your build within (or under) budget? I’d wager that nearly all of them blow their budget by the time their project is over. Money Dials could include things like fitness, convenience, luxury items, travel, self-improvement , and social status.Many people have made a budget for a remodel project. By honing in on your Money Dials-the things you really love to spend on-you can prioritize your spending in a way that makes sense for you. Following this logic, you categorize your expenses into essential fixed costs, important investments, savings goals, and-last but not least-guilt-free spending.īy allocating space in your budget for the fun stuff (minus the guilt), you’re more likely to stick to that budget in the first place. Instead, consider trying a conscious spending plan. The truth is that living a life of constantly telling yourself “no” isn’t sustainable (or enjoyable). ![]() Many people assume that effective money management means scrounging, saving, and never enjoying life. You might also have smaller, more short-term goals, like saving for your dream wedding or buying a luxury car. Smart money management can help you achieve those objectives. You likely have some financial goals in your life, whether it’s improving your net worth, paying off your college student loans, or achieving FIRE (financial independence, retire early). But without planning for expenses, a big income can lead to big debt. But it doesn’t have to be! I spoke with a couple in episode 114 of my podcast who overspent on holidays because their earnings combined were a lot. The entire point of these tools is to simplify money management so you can think about your money less, not more.įor many people, budgeting and planning for big expenses like vacations are a struggle. Simplified spreadsheets help develop your plan, and budgeting apps, like those that automate expense tracking, help you stick to it. ![]() ![]() Finally, you need to stick to your plan.īudgeting spreadsheets and tools are great resources for creating a conscious spending plan. ![]() You then need to decide how much money to allocate to each bucket. You need to start with a bullet-proof budget, categorizing all of your expenses into one of these four buckets: fixed costs, investments, savings, and guilt-free spending. Conscious spending is a great way to enjoy life while still building a financially secure future. ![]()
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