I’m not sure what my neighbours are doing, but HandyMan and I will continue along our conservative track. By spending only what we have, and spending it slowly (we’re doing a room by room renovation), we’ve discovered a few benefits:
- We are able to save and contribute to the budget at the same time as we spend it
- We can earn some interest on what’s left in the budget
- We are better able to prioritize what we want to spend our money on and don’t feel the pressure to “do everything at once”
- We can take the time to find good deals
I’m guessing there are many others out there who have had to reconsider their renovation plans. Has the current economic situation affected you? Are you holding back on spending or not? Or do you consider your home a long-term investment and choose to spend now and reap rewards later?