The first thing I can tell you about budgeting is there is no perfect budget. When you break it down into smaller pieces, you get a better idea of what changes you can afford and where you should try to cut back. Much like carrying a wad of cash in your pocket and at the end of the week wondering where it all went, big projects can be black holes for money. I shared most of my general tips in this post about saving money during a home renovation project, but I wanted to get down to details today with the simple worksheet I use when planning a big project. How I Learned Remodel BudgetingĪfter flipping several houses, I’ve learned a few things about budgeting.

While I’m planning our master bathroom remodel (see the before pics here so you can share in my motivation), I thought I’d share my budgeting process with you. You need to understand all the moving parts so you can control costs along the way, rather than just waiting for the bill at the end. If your purchase involves several smaller parts, such as a remodeling project that stretches out for weeks and involves multiple contractors and suppliers, a budget is absolutely essential. And if you don’t have one to start with, the sky’s the limit.

If you’re planning a large purchase it’s wise to have a budget in mind before you talk to a salesperson because their job is to increase your budget. It comes with most large purchases, and takes some of the fun out of your new toy, car, or well, bathroom. Control your remodel budget or it will control you! Take back your power over your money with my free downloadable bathroom remodel budgeting worksheet.

Budget spreadsheet excel