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Seven Tips to Save Money While Renovating Your Home

Seven Tips to Save Money While Renovating Your Home

While renovating your home into a better living space, it is common to make plans that are not within your budget. Often after the completion of all the renovations of your home, visitors tell you that they got one or more similar jobs done for a lower price. We’ve been there, and it’s not the best feeling. To save you from such moments, we are giving you Seven Tips to Save Money while Renovating Your Home. These are some of the easiest measures that you can take when you are getting your home ready for a makeover. Here is how to save some money.

1. Time to sweat yourself.

Renovations can turn out to be the best time for you to use your DIY skills. Manpower is something that comes at a cost and doing a few of the jobs that won’t require special skills can help if you are trying to save on expenditures. Various renovation case studies show how much money people can save just by painting their homes themselves. If you can get relatives/friends to help you or if you can get a freelancer for a lower price to do the fencing for example, then you can bring down the cost of your home renovations.

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2. Don’t replace everything.

People sometimes get the idea that renovations mean replacing everything with new stuff. If you have this notion too, then you should probably reconsider. Look for furniture or any other home accessories that are worth keeping. This could be the chairs, a study table, or other items like them. Reusing will prevent you from losing money buying new products. You don’t want to end up realizing the value of something after you have gotten rid of it. Give it careful consideration as you sort what needs to go and what needs to be kept.

3. Get some money for the old stuff.

Before doing away with belongings, look for exchange offers in your region where you can get products for lower prices from the dealer in exchange for your old products. One more thing that you can do is to put your old stuff on sale, If you are a busy person, advertise your old products on “buy and sell” websites.

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4. Buy second hand.

If your budget is tight, then buying second-hand products is not a bad option. Thinking of second-hand products as substandard is common, but is hardly correct. You can easily find the second-hand products that you require being sold at reasonable prices. There are websites that sell such products and provide refurbished ones with a limited warranty period in which to return them if there is a defect.

5. Alternatives exist!

Don’t rely on a particular brand or company for your buying needs. We understand that you might have your favorites, but there are alternatives if those brands do not fit your budget. Products with lower prices do not necessarily have less quality. In fact, you should look for new manufacturers as they often offer their best products at comparatively lower prices.

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6. Buy smartly!

Buying alternative products is a good option, and it gets even better when you have the option to buy them from alternative shops. Do not buy only from local stores. Use the help of comparison websites that search for the prices of the same products, including furniture, paint, etc., and suggest to you the best store to buy the products of your choice at the lowest prices. Instead of visiting the stores, you can also use e-shops to order and get products delivered right to your doorstep sometimes with no delivery charge if you order several products from the same store.

7. Look beyond the “now”!

We sometimes forget that we can save in the long run by investing in long lasting or less power consuming products. Adding solar heaters, a system for harvesting rainwater, and buying efficient electrical products can save a good amount of money over the years. Products which require less maintenance or fewer replacements can save money. To buy such products you may have to spend a little more but considering that these long-lasting products prevent you from spending on their replacements for years, do not hesitate to invest in them.

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These are Seven Tips to Save Money while Renovating your Home. You can use them and see their effectiveness for yourself. Do you have more ways to save money on renovations? Let us know in the comments.

Featured photo credit: Pixabay via pixabay.com

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Ayu

Freelancer

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Last Updated on April 3, 2019

How to Nix Your Credit Card Debt in Less Than 3 Years

How to Nix Your Credit Card Debt in Less Than 3 Years

Debt is never a fun thing to be in. But, there are many actions that you can take that will help you rid yourself of the burden of debt once and for all.

By coming up with a set plan, eliminating your debt can feel much easier than constantly thinking about it.

This post will provide some tips on how you can do this to help you nix your credit card debt in less than 3 years.

Hint: there are ways that are easier than you think.

1. Consider Consolidating Multiple Credit Cards If Possible

This may not be applicable to you, but if you have multiple cards – it is something to consider. Keeping up with multiple bills is time consuming.

It will depend on the balance you have on each. Consolidate ones you can but do not do it to the point that you get too close to the maximum limit. Also, it is ideal to pick the card with the lower interest rate.

Consider if there are any fees or alternatively, rewards, with transferring a balance to another card. Watch out for fees. Note that some cards offer rewards for transferring a balance to them. This is extra cash that can help go towards paying off your debt.

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Having one or two cards can make nixing your debt much simpler than keeping up with the balance of a bunch of cards. Keeping track of paying the minimum towards a bunch of cards is time consuming. Spend the time to consolidate instead to make the overall process simpler going forward.

My tip: Have one main credit card. Have a second one that you use for necessities – such as groceries or gas – that offers rewards for those purchases (a lot of cards do) and set the second one on auto-pay. You should be able to pay off a smaller amount on auto-pay if it is a necessity. If you think you cannot, then you may need to cut down a lot on expenses.

Why do I suggest doing this? Having one thing set to auto-pay is one less thing to think about. One less thing to waste time on. Same idea with consolidating to one main card. Tracking down too many is a hassle.

2. Try to Pay the Full Balance You Spent Each Month at the Very Least

You need to pay off the amount you are spending each month when that bill comes in. This is the amount you spent THAT month.

Do not let the debt keep accruing while you work on paying any unpaid debt that has accrued. It will become a never-ending battle. Try as best as you can to be current on paying for each month’s expenses when that month’s bill comes out.

If this is a strain, consider why. You may need to cut expenses. Or you may need to consider other cards. Or look at where this money is going.

3. Pay Extra When You Can – Every Small Amount Counts

This cannot be emphasized enough. If you are looking at a lot of credit card debt, it can look daunting, but each extra amount that you can put towards the debt will really add up – no matter how small it is.

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It does not just reduce the principal amount that you have left to pay off, but it reduces the amount that is collecting interest. You will always save money with that reduced interest.

4. Create a Plan on How to Pay Extra

Back to the main point, having this plan is giving you one less thing to think about.

This plan should be a plan that works for you. If it does not work for you, your spending habits, and your views on debt, then it will not be an effective plan.

For instance, if a set plan of an extra $50 (or another amount that you know you can afford) works for you, then do that. Set that aside every month and pay that extra amount. Treat it like a bill. Choose an amount that works for you and pay it like clockwork as though it was a bill you had to pay each month.

Little amounts will not nix it entirely, but they will help tackle it and having a set plan can make it less of a chore. Creating a new plan of how much to put towards it each month is an unnecessary added stress.

5. Cut out Costs for Services You Do Not Use

If you are signed up for subscriptions that you do not use because of some free trial or for some other reason, cut it out. Your overall financial position will look better.

In turn, that will make cutting your credit card debt easier. Look at your statements to find these expenses. If you do not use them, you may forget you are paying some unnecessary amount each month. Cutting it out can really add up in savings that you can put towards other needed expenses.

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6. Get Aggressive About It

Consider these points:

Depending on the interest and the level of debt, you may need to give up a few indulgences. For example, instead of ordering delivery or going out to eat, cook at home. Everything adds up.

Other things may be more of a sacrifice. It may be a trip you wanted to go on, or a daily latte habit you’ve picked up. In these instances, consider how important it is to you and if it’s worth the sacrifice. And if it is a costly expense, think whether you can wait to indulge.

Cutting an extravagant expense can really help make a dent in your overall debt. Try not to add to debt when you are trying to pay it off. It will be a never-ending battle. Make it less of a battle with these tips and it will feel easier.

Bottom line: Do what you can to make this process easier for you. Implement steps that do this. It takes time now, but will help overall. Also, keep track of your spending and paying down of your debts. Which is the next point.

7. Reevaluate Your Progress at Set Intervals

Doing a regular check-in can help you see your efforts pay off or maybe indicate that you need to give this a bit more effort. If you check every 3-6 months, it will not feel so much like a chore or feel so daunting.

By doing this, you will be able to better understand your progress and perhaps readjust your plan. Bonus: if you see it pay off, it will feel great to do this check-in. You will get there.

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Finally (and most importantly)…

8. Keep Trying

Do not get discouraged. Pushing it off will make it worse. Just keep trying.

Once your debt becomes lower, each monthly payment will reduce the balance more. Why? You are paying less towards interest. It will be a snowball effect eventually and it will become much easier to manage. Just get to that point. And know once you do, it will feel easier and motivating.

Start Knocking out Your Debt Today

The best way to eliminate debt is to get started right away. Begin by implementing the above steps and watch your debt just melt away. Try out some of the above strategies and see what works best for you. Soon you’ll be on your way to a debt free life.

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Featured photo credit: Pexels via pexels.com

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