Spending and Staying on Track - Episode 8 (Season 3)
b'
One of the things I often see occurs is that homeowners will be so diligent during their early phases of their projects. Total ninjas when juggling competing demands, sorting their priorities, hunting down bargains, making strong decisions so they meet their budget.
\\nAnd then construction will start.
\\nThey’ll head to site and start seeing progress. And then they’ll start changing things. Or they’ll see a material or fixture somewhere, fall in love with it, and have to have it – even though it’s more than what they’d originally budgeted for, or already selected.
\\nThis might be because construction feels like the last point at which you can be sure you’ve got it right. Your last opportunity to ensure you’ve made the best choices, because once it’s in, it’s permanent and you’ll be living with it.
\\nAnd perhaps too, it’s because it can be hard to visualise things when they’re all on paper. You’re looking at lines on a page that represents rooms and spaces and joinery. Often homeowners will walk on site and say “Oh, is THAT what it looks like” like it’s the first time they’ve actually realised.
\\nWhen you make changes on site: be it because you’ve not understood how something actually was designed … or you see an alternative product or material you would rather use … or you change your mind about anything you’ve previously selected or included in your design … these changes rarely save you money.
\\nMore often than not, they cost MORE in time and money.
\\nAnd it’s in these changes that homeowners can blow their budget. They’re spending a little extra here and there. All those ‘little extras’ add up over time, get a builder’s margin added onto them, and can end up being a big budget blowout.
\\nIn this episode, I share the ways you can spend your budget wisely, and stay on track for your project, as well as the tools you can use. I go into detail on these three specific strategies:
\\nStrategy 1: Start how you intend to finish … and finish how you started
\\nStrategy 2: Monitor your progress – in time and money
\\nStrategy 3: Be realistic about your own abilities
\\nFollowing these strategies will help you to manage the spending of your budget with the same discipline you set it with. And ultimately that will help you stay on track in your renovation or new build, and deliver the finished result without huge financial headaches.
\\nListen to the podcast now to learn more about these strategies and stay on track with your spending!
\\nLinks mentioned in the podcast
\\nMicrosoft now has a template you can use to set up your budget in excel
\\n\\nPocketbook is one of my favourite apps for streaming your bank account and tracking / categorising transactions
\\nhttps://itunes.apple.com/au/app/pocketbook-personal-finance-expense-tracker/id653330894?mt=8
\\nRenovation Budget Tracker ($4.50)
\\nhttps://itunes.apple.com/au/app/renovation-budget-tracker/id381991960?mt=8
\\nAMP Budget Tracker
\\nhttps://www.tracker.qandamp.com.au/
\\nTom’s Planner
\\n\\nLED Lighting and how to get it right
\\nhttp://undercoverarchitect.com/what-is-led-lighting/
\\nThis season, Undercover Architect has a podcast partner: Kiiko LED.
\\nKiiko LED is customisable, DIY, LED strip lighting, that you can order online to your specifications, for your needs and project.
\\nKiiko LED is founded by Craig Thomas, who I’ve personally had the pleasure of working with for over 12 years now, in my own projects, and in client projects.
\\nAnd so I’ve been able to organise with Kiiko a fantastic UA Community only offer. If you head to their website at www.kiiko.com.au/undercoverarchitect you’ll be able to access a $25 discount to use on your first order.
\\nCheck it out, and start building your Kiiko LED strip lighting now!
\\nFOR RESOURCES MENTIONED IN THIS PODCAST CLICK HERE
See omnystudio.com/listener for privacy information.
'