We know the struggle of wanting that oasis backyard. When spring hits and the temperatures start to rise, all you can think about is spending your weekends hanging out in the yard. Money may be tight though, and you didn’t think to save up for this backyard remodel in the cold, rainy winter. Let’s get prepared for next spring or summer then! Here are some saving money tips so you can get the backyard of your dreams to show off to all your friends and family!
- Create a Savings Account
It’s important to first start a savings account. Whether that means adding one with the bank you already have or opening one elsewhere, it’s important to have one to start saving. Compare saving accounts at different banks or credit unions to be sure you’re getting the best one. Who has a free savings account? Who has one with less fees and interest? Once you’ve set up your savings account, you cannot touch it now. No transferring money unless it is absolutely necessary.
- Put Money Away Each Month
You probably already know exactly what you want to do to your backyard, but be realistic on what you can afford. Most places offer free estimates, so set up an appointment to get a free estimate and then keep the rough estimate and cost of the work for when you’re ready. Knowing how much it will cost will now help you start saving the right amount each month. Divide the cost of the job by the number of months you want to get this job done by. Put that amount into your savings each month and don’t touch it. For example, if your job was quoted to be about $5,550 and you wanted to do this job in a year, you would divide $5,550 by 12. This means you would need to put $462.50 into your savings account each month for 12 months.
- Do Bigger Projects One at a Time
Let’s say you’re wanting to put in new concrete, artificial turf, and a pool. You should probably do each project one at a time and save up for each project gradually over time. You should probably get the pool done first, the concrete second and then the artificial turf last. This will ensure everything comes out nicely and the way it is supposed to. This will also help you not break the bank.
- Set a Monthly Spending Budget
We’re human. We like to treat ourselves and be social every once in awhile. This doesn’t mean it should be an everyday thing though when you’re trying to save money. Cut back on unnecessary spending like new clothes, movie theater tickets, toys, new electronics, etc. You should also try to eat out less. Eating at home more is not only healthier for you, but it also saves a lot of money. Make a tradition out of family meals…at least for the meantime. Try using coupons and apps as much as possible to get discounts on purchases you do have to make. You don’t have to turn into an “extreme couponer,” but maybe a step under?
- Cut Back Your Bills
Bills will always be there because they are necessary. Cutting back your water bill by taking shorter showers, watering the grass less, not letting the water run and checking for faucet leaks will help with saving more money each month. A cheaper water bill means more money in your savings account. Same goes for your gas, electric or phone bills. Maybe you could switch to a cheaper plan for your phones? Use more natural light during the day instead of turning on all the lights in the house?
- Always Check Your Progress
Last, but certainly not least, always check your progress. Be aware of your spending and how much you have or haven’t saved. Are you right on track or do you need some more help? If you’re a little bit behind, maybe try having a garage sale or picking up more hours at work?
Remember to always be realistic, set a budget, don’t touch your savings and check your progress. Soon you will have your backyard oasis!