I have a method to help you afford all your home decorating projects. Often money is the biggest barrier in your way of home decorating. It can be downright depressing to want to decorate your home but not have money to get started.
I am going to help you get through the money barrier and get started decorating your home.
Wouldn’t it be amazing to decorate with the freedom of not worrying about affording it or not?
I know I would like that. How about you?
What’s the Secret Method?
More on the proven method later plus a free bonus. First a little more about me.
Hitting The Financial Brick Wall Barrier
As you know from my previous post, Why Frugal Home Decorating is My Passion, my financial situation is difficult. A lot of debt and bills to pay before anything, if anything at all, goes toward home decor.
I have bad credit, so I can get approve for a credit card or financing. Which is fine, because it was credit cards and financing that got me in the situation I am now.
Money is a major barrier for my family in a lot of areas, but home decorating was one area that most frustrated me. Probably because I am an interior designer. I have the honor to design spaces for other people, which is a joy. However, I want to create a beautifully decorate home for myself too.
Cash Breaks Through The Barrier
Finally, my wife and I found away to break down the financial barriers keeping us from doing things we really wanted to, like home decorating.
We discover the Envelope System. Thanks to Dave Ramsey’s Financial Peace University Class and reading his book, Financial Peace Revisited (affiliated link), we learned about the best way to pay for things is with cash. If you can’t pay for it with cash, then you probably can’t afford right now.
[su_box title=”Your Spend More With Credit Cards” style=”soft” box_color=”#a5d2d8″ title_color=”#524847″]In a study conduct by Dun & Bradstreet, the company found that people spend 12-18% more when using credit cards instead of cash. (Source: Nerd Wallet)[/su_box]
Dave Ramsey’s Envelope System, is a way of smartly save for those things you can’t afford right now.
How Does the Envelope System Work
The short version of how the Envelope System works is you create envelopes for all the areas you spend money on (i.e. Clothing, Food, Gas, Pets, Entertainment, etc). After you have don’t that, you then decide how much each envelope will get on a weekly, bi-weekly, or monthly basis. We put money in our envelopes on a monthly basis because I get paid monthly.
You then only use what is in the envelope to buy things. Once the money is gone in the envelope you can’t spend anymore until the more cash is put in that envelope. Pretty simple right, spend only what you have and live within your means not your wants.
If you want to read more about the Envelope System read this article, Dave Ramsey’s Envelope System.
Envelope System For Home Decorating
The Envelope System is a perfect way to save money overtime to help you pay for all home decorating projects on your to-do list. Putting a little money aside in a Home Decorating Envelope will give you the freedom to spend on decorating your home.
Are you still not sure?
Here an example, let’s say, you want to buy a new sofa for your living room. For easy math, that sofa costs $1000. You decide you can afford to put $25 in your envelope per week. If you are consistent with that plan in 40 weeks, you will have the money to buy that sofa with cash and not credit.
If 40 weeks is too long for you, that means you will have to put more money in the envelope on a weekly basis. Or you can cutback in an another area of your budget so you can afford to save faster for the sofa.
Home Decorating General Fund
If you are not saving for something specific, like a sofa, I suggest still having an envelope for home decorating. You can use the money in this envelope as a general fund for home furnishings throughout the year. This can be used for seasonal item, new pillows, and other home accessories you want during the year.
If you simply put $10 each week in this envelope, by the end of the year you will have $520 to spend freely on home decorating. This may not seem like a lot of money, but when you use frugal spending habits that money can go far.
Saving = Freedom to Spend
Saving does take time, but is will give you freedom to purchase furnishings for your home with no guilt or bills later, which is awesome in my personal experience.
Credit cards do give you instant gratification, but can lead you into more debt if not careful. Even if you are not buying big purchases, small things overtime can lead to considerable problems in the future. If you use the Envelope System, you will never spend too much.
A FREE BONUS
To help get started on creating an envelope for home decorating, I have created a free download, my Home Decorating Saving System. You can print this out on a No. 10 size envelope or just on paper and staple it to an envelope.
Use this envelope to put your home decorating money in and the table to track how much is in the envelope. My Home Decorating SpendIng System will help you afford decorating your home with freedom.
One More Bonus
I have also included a worksheet to figure out how much to save weekly for future home decorating purchases.
To get these bonuses and other bonuses in the future, complete the form below.
feature image credit: 401(K) 2013 via photopin cc