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September 1, 2012

Saving money when building on your home

There are numerous examples of people adding to their home or changing rooms completely; it’s a great way to make your home better and saves the hassle of moving house just to get a new conservatory or a bigger kitchen.

The only problem with that is that it can be terribly expensive and rising costs can drain your bank account. Although there are no estate agent fees or solicitor intervention, you do have to worry about how it’s going to be built, the equipment that will be required and dealing with your local authority if you need planning permission.

There are ways, however, that would enable you to save money on such necessities.

Doing the work yourself (or as much as possible!)

Many people who plan to build on their own home are trained in the relative skills that will enable them to do most of the work. The costs of hiring labour can be vast and if they go over the proposed schedule, then you’ll have to pay out more money.

You might find that some businesses will purposely provide a longer schedule to make more money, so it can be worthwhile to shop around to see who can do the work in a decent amount of time and for a reasonable price if you can’t do the work yourself.

If you are able to do some work yourself, you may still need to outsource someone to do something like loler testing and inspection to make sure you can go ahead with your build and get your certification for safety.

Hire, don’t buy equipment

If you are able to take on the work yourself, you’ll obviously need to get the correct equipment, whether it be lifting equipment, handling equipment or drills and mortar. However, make sure that you hire and not buy, because you’ll only use this equipment once and so it’ll be fie to hire lifting equipment from someone like Lifting Gear UK.

The expense of owning such equipment is very high and remember you’ll have to keep in the best of shape so that means maintaining it and making sure it’s always working safely.

Complete the project all in one go

Cost often spiral when projects get dragged out further and further because your budget usually only applies to the planned schedule. The longer the project lasts, the more labour costs will be required and most likely equipment and material costs too.

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March 28, 2012

A Simple Guide On How To Budget Your Expenses

One of the things that people find little success with is budgeting. No matter how hard they try, the ability to make both ends meet seems to be elusive for most people. The sight of fashionable clothes, the latest gadgets, vacation in the island is simply too tempting to pass up. Finding it hard to budget your expenses? Here are some tips on how you can master the art of making both ends meet.

Before learning how to budget, try to determine the reasons for not being able to meet your budget. There are plenty of reasons for such failure. For one, you might not have prioritized your expenses. Come up with a list and then sort them from the most important to the least important. Likewise, determine which is discretionary expenses. These are items that you usually buy but can afford to live without.

Food and shelter should be on the top of your list. These are basic needs that support your survival. The next most important are the utilities such as water and electricity. A car loan is discretionary expenses because it is part of your budget but you can live without it. Unnecessary expenses should be at the bottom of your list.

After you have listed down your priorities, classify them into monthly and weekly expenses. While learning how to budget, you will come to the realization that your expenses will be greater than your income. Deduct the expenses from the income and you will come up with your potential savings for the month.

To cut down on your expenses, you need to take away your bad habits. If you have a vice such as smoking or drinking, it could also affect your budget plan. Reduce your intake of alcohol or cigarettes and you will see your expenses come down. Doing this will also have some beneficial effects on your health.

There are many ways you can cut down on your expenses. For example, rather than buy coffee from Starbucks, buy a coffee maker or travel mug and make your own coffee instead. If you are living in an expensive apartment, consider moving to a smaller unit. If you are going to a location just a few blocks away from your house, why don’t you walk instead? You will not only reduce your gasoline expenses but also get some form of exercise.

For credit card bills, always contact the credit card company if you will be unable to pay your bills on time. Explain to them your current situation. I am sure they will be able to help you out in coming up with a more affordable payment plan.

Personal budgeting entails supplementing your income and reducing expenses. This way, you will be able to better manage your personal finances. However, if your financial problem is already overwhelming and budgeting is no longer working, it is best to seek professional help.

Perhaps the best advice for learning how to budget is to live within your means. If you cannot afford to have an LCD or plasma television, a standard cable television will suffice. Bear in mind that success will not come in a blink of an eye. You need to work hard until you are able to master the art of budgeting.

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