Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

budget breakdown

Money Habits to Plan and Save for Renovations - or Anything, Really

January 4, 2024

This post is sponsored by YNAB

Something we hear often is "This is great for you, but I can't afford to renovate." I remember feeling that way when I was looking at inspiration photos from our basement apartment. This entire blog was built out of us DIYing just about everything, because we barely had two nickels to rub together.

Of course now, having the benefit of hindsight, I know that there was a reason we had so much trouble gaining ground on our finances - we didn't have a solid plan for our money coming in. There are other words you might use in place of "plan." "Goal." "Vision." "Strategy." "Resolution." But perhaps the most basic contextual synonym here would be "budget."

Budgeting gets a bad rap, doesn’t? It’s a word that feels like it actually means “restriction.” That’s how we used to feel, at least. But over the years we’ve learned that sticking to our goals and making progress is less about a “budget,” and more about creating new habits to guide spending and ensure we feel confident in our decisions – never second guessing a penny spent. Sure, it takes some discipline and, yes, compromise, but creating a plan gives you permission to spend your money in the way you decide is best! It’s not just about spending less – it’s about seeing the possibilities.

But how do you actually start creating new money habits? The thing that shifted it for us was leaning on YNAB’s  four simple habits and app. For the past several years, we’ve made these habits part of every money conversation we have (we have a weekly standing money meeting together!) because they get us thinking about what we want our money to do before we spend it.

YNAB’s Four Habits

Give every dollar a job: Every dollar that comes in is given a specific task. “Musts” come first, of course, like bills, groceries, and the mortgage. Many money plans stop there and whatever is left is viewed as “extra.” We've learned that’s a dangerous game and sets you up to feeling like you have more to spend than you might, running out of that “extra” pretty fast. Instead, keep assigning every dollar a job until the “extra” comes to $0. And don’t worry – you can give those dollars fun jobs, like date nights, wardrobe expansion, or new sconces for the entry! When you give every dollar a job, you can spend on the things you want without stress or guilt because you know your bills are covered.

Embrace your true expenses: Not every expense comes monthly. Car registrations, veterinary visits, birthdays, HOA fees – assigning money every month to go into this pool makes sure that the unexpected or often forgotten expenses don’t throw off your progress. You’ll sleep better knowing that you have these things covered without worrying about the credit card hangover.

Laundry Room Sources

Roll with the punches: Of course, no amount of planning will guarantee smooth sailing. Circumstances change, and plans change with them—this is probably true with money more than anything. When a surprise expense hits, or you’re having an “I-can’t-cook-tonight” kind of day, don’t sweat it—just give your dollars new jobs. Remember, you’re the boss of your money and changing the plan doesn’t mean failing. It’s adapting! We've had to roll with a lot of punches when it comes to renovation--it's almost ALWAYS more than we expected.

Age your money: Take the first three habits, rinse and repeat. Over time, you’ll start to increase the time between when you earn your money and when you spend it and you’ll realize that you have money waiting for bills, instead of bills waiting for money. And those areas of life that feel a little more “fun” – well, more and more of your dollars get to take their assignment there.

Let’s be honest, money conversations can be hard. And sometimes you can feel like you don’t know where to start to make a change. For more tips and tools, YNAB offers a wealth of FREE resources and education to help you start building new money habits today. Try the app free for one month — no credit card required — at www.YNAB.com.

filed under: 
— Hide Comments
+ ShowComments
What do you think?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  1. Great article. The standout tips are prioritizing needs over wants and zero based budgeting. When you make a budget and give every dollar and penny a job and a placement it will become incrementally easier to save more money. But that takes a lot of discipline and over 50% of Americans are financially illiterate. (I used to be as well) It takes dedication to keep to a budget and self-correct bad spending habits.

What We're

Loving

Right Now

What We're

Loving

Right Now

Looking for our favorite things? A place to shop our home room by room, or just catch up on what Julia's wearing / loving right now? Browse the CLJ shop
Shop All

Love Stories

Love Where You Live

In an industry that often feels designed to make you discontent, we want this to be place you come for inspiration, ideas, and encouragement to make the space you're already in feel like home.
Read All Posts
let's break this thing up

BROWSE BY CATEGORY

01

Portfolio

Befores, afters, mood boards, plans, failures, wins. We’ve done a lot of projects, and they’re all here.
read more
02

Projects

We have a long-standing relationship with DIY, and love rolling our sleeves up and making it happen.
read more
03

Design

Even when you don’t want to rip down a wall, you can make that space in your home better. Right now.
read more
hello world!

looking for inspiration?

product lines

The New Chris Loves Julia + Pottery Barn Collection | Fall 2024

Last year, we launched a line with Pottery Barn Kids that was really a dream come true. We were so inspired by our own experiences as parents AND home renovators. With the team at Pottery Barn Kids, we got to dream up pieces that we always *wished* existed for kids' rooms. The result was a […]
product lines

Our First Holiday Items for Pottery Barn Kids!!

I woke up today, and it felt like Christmas morning! You get to see our first-ever holiday pieces we designed for Pottery Barn Kids!! Shop the CLJ + Pottery Barn Kids Collection The "-ber" months are my favorite time of year, and when Pottery Barn asked if we would create some holiday pieces for decorating […]
product lines

Introducing CLJ + Pottery Barn Teen 2024

Our NEW Pottery Barn Teen collection builds off of a couple of our favorite Pottery Barn Kids pieces from the last collection and introduces entirely new pieces that I'm SO excited about. (Spoiler: The turned wood bed you all loved from Pottery Barn Kids is now available in a queen size for teens!!) Turned Wood […]
product lines

The Most Exciting New Pieces from Our CLJ + Pottery Barn Kids Collection 2024

It is a DREAM. COME. TRUE. to get to share the newest pieces we co-designed with Pottery Barn Kids. When it comes to the inspiration for this collection, we were really thoughtful about creating timeless pieces that will be the backdrop for your family memories. It's also important to me that the pieces we have […]
Learn With Us
Want to do what we do? Get the tools, mentorship, and training to be a Good Influencer professionally.
Learn More
Looking for Something?

SEARCH THE BLOG

We've been doing this since 2009 and we've posted a whopping 24145+ blog posts and counting. You might need a little help searching, huh?

Can We Send You Our Love Letter?

Another way for us to stay in touch! Joining our weekly newsletter gives you access to exclusive content, never-before-seen photos, your questions answered, and our favorite DIYs. Sign up below!

hello world!
Follow Along on Instagram
Welcome to our online community where we've posted home, DIY, style, renovations, and family since '09. Renovating our #cljmoderncottage in Idaho and headed for new adventures in Raleigh, NC. #cljfam #cljtransformations
© 2024 Chris Loves Julia, LLC
PRIVACY POLICYTERMS & CONDITIONSAFFILIATE DISCLAIMERSITE CREDITCOMMUNITY GUIDELINES