Making improvements is one of the joys of homeownership. With thoughtful planning and saving for desired changes, home improvement projects can be both exciting and rewarding, enriching your life and financial well-being.
If you’re considering work on your house, avoid accruing more debt. You may have several home improvements in mind, but accumulating debt is never a good idea. Instead, try to save money to finance the changes.
Realising that your home improvement project will add value to your property is a great motivator to start saving. Before starting that living room conversion, consider which projects offer the best return on investment.
Determine how much you can afford to spend on home renovations. Often, projects start with a list of desired changes rather than an affordable price. Knowing exactly how much you’re willing to spend gives you a saving goal.
A good way to fund your home improvement project is to allocate a small amount to a savings plan at the start of each month. You can gradually increase your savings over the years. In time, you’ll adjust your spending habits to save without even realising it.
If you’re not measuring, you’re guessing. Using our budget calculator can help you understand your finances. You’ll be amazed at how much you spend on non-essentials.
Things don’t always run smoothly, and being financially prepared for unexpected costs is vital. We offer many useful saving tools to help you get started and continue saving.