For many people, summer is the time to get all those projects done that have plagued you since last year. Unfortunately, projects can cost more than anticipated. To help manage your budget and avoid consumer debt, follow these tips while completing your DIY outdoor projects.
Budgeting for DIY Projects This Summer
Before beginning any project, know what your budget is. Maybe you have been saving all year for your DIY outdoor projects and maybe you haven’t. Either way, the money has to come from somewhere. You don’t want to end up with credit card debt. So where can you find money in the budget to pay for these projects?
Ways to fund your project:
- Use designated savings
- Utilize the money that would have been spent on clothing or other non-essential categories
- Pick up extra hours at work
- Sell a few items around the house at a yard sale or online
Ways NOT to pay for your project:
- Use a credit card or store card to make purchases without knowing how much you can spend
- Assume you will have the money next week or month and buy it anyway
- Talk yourself into “needing” it. Be honest, these are not essential living expenses
- Borrow money without having a concrete plan to pay it back- again not essential so no reason to borrow money
Remember, your project budget needs to have a firm amount that you can spend on the whole thing. It’s a good idea to price out materials and other costs before starting the garden or yard project so you know that your budget will cover the entire cost. Check multiple stores for prices as well as second-hand options or taking on more of the work yourself. Creativity will be rewarded when there is no budget strains or need to eliminate debt.
Affordable DIY Summer Projects
Now that your budget is in place, you are ready to choose a project. Whether you add to your garden, outdoor entertaining area or curb appeal, there are plenty of budget-friendly ideas to suit your needs and keep you from credit card debt. Here are some DIY projects that you can tackle this summer:
- Pallet Furniture
- Garden Beds or Planters
- New Mailbox
- Paint Projects
- Kid’s Activity Area
Pinterest is a great place for inspiration. ACCC’s DIY Home Repair & Projects Pinterest board can launch your thinking in the right direction and for the right budget.
If you are currently struggling with debt, ACCC is here to help. To speak to a credit counselor today about budgeting and managing your finances, call 800-769-3571.