As you inch ever so closely to taking on your next interior design project, there’s a good chance one thing and one thing only will hold you back: money.
Photos By: Design Manifest
Ah yes, money! Wouldn’t be it be nice if you could decorate your home just the way you want, all without spending a dime? While there are creative ways to decorate on a budget, spending a few dollars here and there is almost always necessary. It doesn’t matter if you’re shopping for wall art, table accessories, or something in between, you need to set a budget and stick with it. And that brings us to the topic of this article: four ways to pay for your next interior design project. Here are some ideas to consider:
This is the best option, as you can take the cash you need to make the purchases you want. As long as you’re comfortable parting with the cash, it’s a good place to start. Just make sure you don’t spend all your free money on your project, as you don’t want to find that you can’t pay your bills!
There’s never a good time to take on credit card debt, but you may be in position to make purchases and then payoff your balance at the end of the statement period. In this case, a credit card makes good sense, as you aren’t held back by the amount of cash you have on hand at the present time.
Okay, so you’re not going to take out a loan to pay for an area rug or some candles. However, if your design project is going well beyond the basics – maybe because you’re tackling every room in your home – a loan could be your answer. With a personal loan, you can borrow the exact amount of money you need. Best yet, if you qualify, you can secure funds within one business day.
Set a Goal and Save
In a perfect world, you’d always have the money you need for your next interior design project. For instance, with the fall season closing in, you’d love nothing more than to experiment with a few decorating hacks that will set your home apart from others in your neighborhood. Unfortunately, there are times when you don’t have the money you need – and there’s nothing wrong with that. Here’s what you do:
- Set a goal to save a particular amount of money, such as $500
- Set smaller goals, such as saving $100 per month, so you can slowly work toward the desired result
- Stick with your plan until you have the cash you need
Even though you may be frustrated at a lack of funds upfront, you’ll feel a sense of accomplishment if you save and then make a purchase.
Are You in Financial Trouble?
If you’re facing financial difficulties, it may not be the best time to take on an interior design project. No matter how badly you want to push forward, your financial future must come first. Like many, you may realize you’re buried in credit card debt. Rather than add to this right now, set the goal of paying down your debt before you begin to save and spend again (see above). There are many ways to make immediate progress, such as by applying for a balance transfer credit card. This will bring all your credit card debt under one roof, while also saving you money on interest.
So, there you have it. If you’re super excited about your next interior design project but concerned about the financial impact, this advice should help point you in the right direction. Happy decorating!