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How I'm Saving for Home Improvements

November 16th, 2007 at 01:36 am

Since I moved into my new house last May (my first time as a homeowner), I've been torn between wanting to save money and wanting to upgrade my house. I have been postponing the little upgrades that are purely cosmetic and unnecessary, like new bathroom fixtures and a new kitchen faucet. I just can't justify taking money from savings for things that aren't an emergency and don't NEED to be fixed.

I decided earlier this month to set up a new ING subaccount for home improvements. I also set up a bi-weekly $20 auto deposit. This seemed like painless way to save for those improvements. Once I have a decent balance built up, I can have more freedom to pull money from this account, and not feel like I am raiding my regular savings account.

3 Responses to “How I'm Saving for Home Improvements”

  1. Carolina Bound Says:

    Good for you. I never did figure out how to pay for home improvements. I was always raiding my emergency fund.

  2. fern Says:

    I, too, am a single 40-something, but i guess i think about cosmetic home improvements a little differently than you. Yes, they are optional, but i do feel they enhance the appearance and thus the value of the home, should you have sell it. Also, something like a faucet is something that will last for a very long time (provided you buy quality) so for me i am glad i replaced all my faucets as i enjoy and use them every day!

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