If you’re keen to get started on your home renovation, simply continue reading to discover 6 ways to save money in order to fund your home renovation.
How to save money for renovations:
1. Create a rough budget for your renovation, several months before you start your home renovation
You’ll find that it’s far easier to make the necessary sacrifices to fund your upcoming home renovation project if you are aware of roughly how much money you’ll need to save for your renovation. As an example, if you know that you need to save $15,000 for your renovations you may find it easier to make small changes to your day to day living such as forgoing purchasing your lunches at a cafe, in favor of packing homemade lunches.
2. Choose to pack your lunch each day, instead of purchasing it
If you frequently purchase your lunch at a cafe, you may be able to save between $50-100 per week by choosing to pack homemade lunches instead. If you want to save even more money, it’s also well worth making a cup of coffee at home each morning, instead of visiting your favorite Barista for your morning coffee.
3. Ask your friends and family members for gift vouchers from hardware stores or interior decorating stores
If friends and family members are likely to give you gifts for special occasions such as your birthday or Christmas it’s well worth letting your loved ones know about your renovation project and how grateful you would be to receive gift vouchers from certain stores, which sell the products which you’ll need for your home renovation.
As any gift vouchers which you receive will decrease the amount of money which you’ll need to save for your big renovation project.
4. Temporarily pause any subscription services which you don’t need
As an example, while you may not want to cancel your cable or Netflix subscription in the long term, if your home renovation project is a priority in your life, you may want to consider pausing your subscription until you’ve successfully completed your renovation project. As by cutting off the majority of your subscription services for a few months you should be able to save several hundred dollars.
5. Consider becoming a gig worker or freelancer
If you have spare time up your sleeve in the evenings or weekends, it’s worth considering turning your free time into extra valuable cash by becoming a gig worker or a freelancer. As an example, if you’re a skilled baker you may want to consider selling your baking to friends or family members.
Or if you have web design skills you may want to advertise your services online as there is a multitude of small businesses who are looking for professional web development assistance.
No matter what your skill set is, you should easily be able to supplement your primary income by becoming a gig worker or a freelancer.
6. Sell items you no longer use online
Another way to make quick cash is to sell items which you no longer use such as an old sofa online.
So if you’re keen to get started on your renovation project, it’s well worth using the 6 tips listed above in order to finance your project.
