All of our homes need decorating from time to time. A fresh coat of paint or some new wallpaper can really transform a space and make living there much more pleasurable. However, decorating, even if you are just painting can cost a lot of money and if you have to get someone to do it for you then the cost will be even higher. This means that you need to think about whether it is something that you can afford.
- Get some quotes – firstly you will need to find out how much the job will be. If you are having someone do it for you then get them to do some quotes for you. They will be able to let you know how much they think the job will cost and that will allow you to work out if you can afford it. If you are doing the work yourself you will still need to buy paint and possibly other equipment as well. Work out how much you will need and how much it will cost so that you have an idea of how much money you will need.
- Check your savings – if you have a savings account then the next step will be to check this to see whether there is enough money in there to cover the job. Consider what you were saving up for and whether you are prepared to use the money. It might be that you were keeping it for an emergency and so you may want to keep it. You might have been saving up for something specific and think that you want to keep it for that. However, if you need the work done quickly then you might want to use the money and replace it as soon as you can. You will need to decide how important you think it is.
- Check your current account – it is also wise to check your current account. You should not only see if you have any spare money in there but you need to make sure that you will be able to afford to save up for the things you need to pay for. Look at how much your income normally is and how much you normally pay out for things and see what is left. This amount could be an amount that you could save towards the costs of decorating and you will be able to work out whether this will be enough.
- Decide if you can wait – Once you have done this you will have an idea of how long you will need to wait to do the work. If you have the money then you can get on right away. However, if you do not then you will need to save up and you need to think about how long that might take you. You can then decide whether you will be able to wait to have the work done or not. It may be that you are expecting visitors or having a party and therefore want the work done before this happens and therefore cannot wait. Alternatively, you may just be in the position of wanting to brighten up a shabby room and are happy to wait a while until you can afford it.
- Consider a loan – if you do not want to wait and do not have the money then a loan could be a possible solution for you. This will allow you to have the money that you need right away. However, you need to bear in mind that it will cost you more in the long run and you will need to be sure that you can cover the repayments. As you have already worked out how much money you have coming in and out of your account, you will be able to work out how much you will be able to afford for repayments. This will allow you to be able to pick the best loan to suit your financial situation. All lenders will differ in how much they expect you to pay out and how often and so it is worth making some thorough enquiries and comparing them so that you can choose the best one for you.
It is important to cost things out like this. It might seem like a big effort but it will make a big difference as you will be able to be confident that you will be able to afford what you need. You may also want to change what you are doing so that it is more affordable for you. It is wise to consider all of the options and the costs of those options; both financial and personal, so that you can make a well-informed decision. It might seem like a big hassle but it can be the difference between you being able to handle your finances and you struggling with them.