Started Like This

Just last week, I decided to use my savings to put up the awning type in the laundry area. It has been like years that I am planning to put one up but I always out of budget so last December, I tried to save up and was able to come up with an amount, I planned to just withdraw it on May but I realized summer is fast approaching and it would be so hot in our laundry area, my sister already have a hard time doing the laundry there how much more during summer. So I withdraw it and hired someone to do it and its worth it, sister is so happy with it, she doesn’t have to suffer anymore under the dreading heat of the sun.

It started like this:

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Finance Your Home Renovation Wisely

I have so many plans to upgrade this house but the only problem is we don’t have enough budgets. I tried so hard saving some bucks but unfortunately I failed. I withdraw some few days ago and I was not able to deposit some money last payroll I had.

What about you guys how do you finance your home renovation?

Well, I was able to check some tips for us to successfully finance if you have plans to do a home renovation.

It is great if you have cash so you don’t have loan some money to support the renovation. It is not recommended to do a mutual fund withdrawal because it will draw more or even charge you a high interest that you can ever imagine. You have to think yet the loss of compound interest plus the penalties for early withdrawal. You may realize that getting a loan is cheaper than a mutual fund.

Another option is with plastic but there are pros and cons to use credit card when you finance a home renovation, there is no interest yes but not always. You will just surprise when the statement arrives, the interest is more way too much than you expected. But the advantage of this is you can just use the credit limit that you have in your credit card. It would be more likely if you have enough credit limits to cover your finances for home renovation. You don’t have to wait anymore for loan approval because you can just withdraw it in your credit card or buy materials using the credit card. It is absolutely so easy.

The most straightforward to finance a renovation is through bank loan, especially if you need a large amount of money. Installment payment can be withdrawn from your savings account, it could be weekly, bi-weekly or monthly if your budget would allow you, and a weekly payment can be arranged. High interest can be saved if you pay it weekly than arranged with monthly. Interests for monthly payment can be so high that you might not be able to afford.

On the other hand, for you to support the home renovation, first thing is to plan ahead, you must know the cost, the labor fee, materials that should be needed for the renovation. In that way, you will not be out of budget and some important expenses cannot be affected with the home renovation.


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Most Mistakes That We Do When We Plan For Home Renovation

When we do renovations at home, we always tend to budget it all even the materials that we are buying and what do you expect if you will buy cheap materials, they also tend to give up few month after. So why would you put your home at stake for the cheap materials you bought. You’re in a tight budget yes, but then if you can’t afford it then save for it so when the time comes for renovation, everything will be fine and you don’t have to risk your home for those cheap materials.

Do not measure it yourself, of course measuring something in the house require a formula that I am not even expert of, I am not good in Math and if you are like me. Get some help!

Plan, do not just go to the battle without any plan, make it is well set so when you start your renovation, the result is with according to what you have imagine, especially the designs and styles otherwise after everything is done, you will find yourself in a deep hole, not knowing what to do or how to get out without making a mess of what you have started and done.

Use the correct tools, do not just mend yourself of what is available to your house, get or buy something appropriate tool based on the project you are working on. When your tool is wrong, everything will fall apart and instead of saving something up, it will end up ruining your budget.


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What I Accomplished This Year

Looking back, I can feel that I accomplished something very important this year. It was this year that I have our tiles repaired. I also installed new tiles too, so now when we step on it, we don’t have to be careful of which tiles to step because all of it is properly installed already.

Our gutter just collapsed when the rain poured so hard. It has been a while that it hanged and it is not that very impressive to look at it outside. Good thing that I was able to find one on my rest day to fix it. It was fix at first but then it collapsed the 2nd time around, it was not easy for me to find one to fix it again because I don’t have contact already with the first one who repaired it, while my car was sent to my mechanic, I had a chance to ride in a tricycle and I was able to talk to them if they knew someone who can repair our gutter. One was sent to the house and the next day, he repaired it right away.

The screen door in the back was ruined, it bang all so sudden when you are closing it. My brother in law recommended one of their clients. They repair screen doors, or glasses and they went here to check what things to replace. They replaced the mechanic swing and they also replaced the screen door.

The last but not the least  is I think the biggest  accomplishment this year; finally we are fully paid already with our loan. We took this loan so we can pay the previous owner of this house. And last August was our last payment and I could not be happier when I realized we don’t have owed that much money at all. It is too tiring when I have to think about it every month, imagine our monthly installment was P 13,000.00 each month so instead of spending it to other matters here at home, but since it’s our obligation to pay for it, our budget just ruined. So hopefully when this year is over I can accomplish more, I just need to breathe some air after we were fully paid for this loan.

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