Saving Money for a Renovation Project

A home renovation project can be quite expensive, more so if it is unplanned and has to be done as soon as possible. We are faced with such situation, with our house being destroyed by the fire and we had to move back as soon as possible if we want to save on rent payments. You see, we still have to pay for the monthly mortgage of our home even if it has been destroyed by the fire and since we are also renting a house where we temporarily live, a great percentage of our monthly budget goes to rent/mortgage payments. We decided that instead of paying for rent, we just have to work on renovating our home so that we can move back in and not have to worry about that extra expense. The funds that we received from our insurance claim was just enough to fix the house’s electrical and plumbing as well as the roof; there are still a lot of things that need to be fixed.

We have moved back to our home over a month ago and we are trying to save so that we can have the funds that we need to fix everything that has been damaged during the fire. Not only that, since we also lost most of our possessions during the fire, we are also setting aside funds that will go towards the purchase of furniture and appliances that we need here at home. We do have a few essentials, like a dining table and chairs and even a sofa set that was given to us by our next door neighbor. We have an old TV which we currently use; it has a few defects especially in the picture but buying a new one is not a priority right now. We do like to have a new home entertainment center like before (since we enjoy having movie marathons and we have a couple of favorite TV series that we love to watch), but we still need to spend on more important things such as our kitchen. Maybe after we have completed our home renovation project then we can think about buying new appliances such as a new TV or a DVD player and even some accessories such as new audio speakers and a rode ntg-3 microphone. For now, though, we just have to work hard and save so that we can rebuild our home.

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