HGTV’s latest hit show, Fixer Upper, has fans and home buyers looking for new ways to save and restore old homes. While Chip and Joanna have become experts in home renovation, they’re not too shabby when it comes to finances either. Using their home building skills and our banking knowledge we offer these top tips to help fix up your budget in 2017:
- Build a Strong Foundation
Just as a home cannot stand without a solid base, neither can your personal finances. To begin building the foundation to your finances, it is imperative to start a monthly budget. This system can help you organize how much money is coming in and out each and every month, allowing you to allocate funds for both spending and saving.
- Make the Most of the Unexpected
During the course of renovations sometimes things come up! Whether it’s an unknown pipe, water-damaged floors, or a termite torn framework, Chip and Joanna always find a way to overcome a home’s obstacles. In the case of your budget, an emergency savings account can help you cover those unexpected expenses, and give you a hand if times get tough. Stop in Alpine Bank to get started, and open a dedicated savings account for your emergency fund today.
- Have Some Fun with It
Whether its home renovations or budget structuring, it’s important to enjoy what you do! Just as you see Chip adding his humor into his work, there are helpful ways you can find joy in managing your money. Instead of looking at your budget as a limitation, see it as a tool you can utilize when planning your financial strides. If you and your family want to save for your next vacation, commit to depositing a specified dollar each and every month. After six months or more, you and your family could be heading to the beach to enjoy the fruits of your labor.
- Always Take Free Advice
Chip and Joanna offer endless tips and tricks to their home flipping business. Always full of great ideas and sage advice, these two make a consistent effort to give their viewers a leg up on their next home project. Similarly, our team at Alpine Bank wants to help you work to achieve your next financial goal! Whether it’s saving for your first home, purchasing a new vehicle, or setting a plan for your retirement, we’d love to offer our experience to help make your financial dream a reality.
Whether you watch Fixer Upper every week or are just starting this addicting series, we hope you keep your eyes peeled for other great financial tips. You may find more money management advice than you’d think!