Good DIY stuff saves money in the long run. Some of our very favorite do-it-yourself projects were born with creativity, out of the need to save a little green here or there – but that does not always mean that DIY projects are cheap. Some necessities are expensive, and some projects require a large purchase in front, such as a chainsaw or a sewing machine.
Do-it-yourself budgeting can be a do-it-yourself thing. To find a system that works for you, you need a clear idea of how much you need to save. Make a detailed list of all the little things you need for the project so there are no surprises along the way. If it is a long-term project, take into account that prices will change and vary over time.
The envelope method
For projects that require a few thousand dollars, the envelope method can help you save big money. Take a hundred envelopes and mark them from one hundred to one hundred. Mix all the envelopes and pick one out every day. The number on the front of the envelope informs you how much cash to put in the envelope each day. If you need a little more time to save, you can draw an envelope every other day.
It seems a little shocking, but completing this system will give you five thousand dollars.
If you do not need so much to finish your dream DIY, you can change the method and save about a thousand dollars when you use fifty envelopes. Calculate how much you need for the project and change the number of envelopes you added accordingly. It is better to over budget than under budget, so always make mistakes on the side of caution.
This method works well for long games and is not the best way to go if you need the money to quickly complete a project.
Shopping for your goods little by little can be a great way to deal with an expensive DIY. Use the list of deliveries you created to determine the cost of the project and divide them into weeks. You can plan to spend a certain amount on deliveries week by week or simply buy one delivery at a time.
Once you have purchased an item, set it aside until everything you need to knock your DIY project out of the park is available.
If your DIY includes renovating a room, such as a kitchen or a nursery on a budget, the method works little by little a little differently. To redo a room with the method little by little, you will still buy things slowly, but you may want to add more method to the madness.
For example, if your reno requires freshly painted walls, a new bedspread, some DIY decor and a new dresser – you may want to start with the color. Painting the walls is more meaningful than filling a room with new furnishings and furniture that is moved to paint the walls at the end.
For DIY items that require a large purchase, such as a power tool or sewing machine, patience can be one of your biggest money-saving tactics. Waiting until a big sale can be a great way to reduce the dent in your wallet. Black Friday or holiday-related sales are often a good place to start. You can also look at weekly advertisements from craft or hardware stores to see if individual stores have big sales or coupons that can be used on the items you need.
If you follow popular craftsmen or DIY geniuses on Instagram, maybe you can find discounts there as well. Bloggers often have connected codes that they share on everything from fabric to new lighting for your home. You just have to follow the right people to find deals.
However, it is a good idea to have your money ready when a sale comes, that way you are not tempted to spend more than you can gently spend at the moment.
Whether your DIY budget is large or small, it’s smart to get a good idea in advance and make financial planning a habit for all your DIY businesses.