Q: You really should consider posting about how you two budget and save for your purchases and DIY. I’m constantly amazed at how you seem to never charge anything and how you consistently mention saving up for things. Now just tell us how you do it!! What about making the decision to replace something that still works? Is that a hard call for you guys? I never know when to live with something, replace it with something semi-cheap for the interim or save up for the big thing I actually want and go right to buying that instead of putting money towards a placeholder while I save. I’d love to know more about how you know when to save and when to splurge and how you live such a debt free life full of projects and home makeovers! -Barbara
A: The short version: we learned thrift from our parents, we live within our means, and we plan purchases instead of relying on credit. Both of our dads were famously frugal, so we grew up watching money be saved, bills be paid in full, and wants be delayed until they could be afforded. That upbringing taught us discipline. It also means we often walk away from tempting deals when we don’t have the cash on hand—because a bargain isn’t a bargain if you can’t afford it today.
Most of our home is filled with simple, affordable items that work well and look good. A dining table from Target for around $150, thrifted chairs, or a consignment shop coffee table for $30—those kinds of finds keep our bank balance healthy. We don’t buy junk just to save a buck, but when a well-reviewed, sturdy piece is available for a fraction of a designer price, we’ll choose the smarter spend. Our current dining table has lasted years with no complaints.
That said, sometimes we save intensely for one bigger purchase that we truly want: an organic mattress or a safer car, for example. We shop sales, use coupons, compare reviews, and mostly furnish our home affordably. But we also set aside a small portion of savings for occasional splurges, which lets us enjoy nicer things without wiping out our accounts.
Location matters too. Moving from Manhattan to Richmond drastically lowered our cost of living, cutting housing costs significantly. Buying a fixer-upper made it possible to afford renovation work because we didn’t pay a premium for a fully renovated home up front. A lower mortgage allowed us to redirect money into projects.
We also save by sharing a car, using the library, packing lunches, and doing as much DIY as we reasonably can—from tiling to haircuts. Small daily savings add up. Choosing to live on less lets us focus on what we love (for us, that’s blogging) without needing a high income to fund our lifestyle.
When something still works but bugs us—say, an old yellowing fridge—we’ll save until we can buy a replacement outright instead of putting it on credit. We avoid interim “placeholder” purchases because they often feel like wasted money. Instead, we sell the old item (often on Craigslist) to avoid landfill waste and to recoup funds that offset the new purchase. For some people, a lower-cost interim item makes sense; for us, waiting for the “forever” piece is usually the better option.
Before any major remodel we talk a lot and agree on a budget. For our bathroom we estimated $3–5K, saved $5K in a high-yield account, and ended up completing the job for $1,800 by doing the work ourselves and hunting deals. Having the cash in the bank reduced stress and made the project fun instead of nerve-wracking.
Deal hunting paid off for our nursery too. We budgeted about $1,500 for crib, dresser, chair, rug, and lighting, and found excellent bargains: thrift-store chairs, Craigslist dressers, clearance rugs and fixtures. Refinishing a solid, used dresser often yields higher quality at a fraction of the price of new cheap furniture.
Generally we spend roughly 5–10% of our income on home improvements—partly because projects are central to our work—but that percentage will vary for different households. Because the projects matter to us, we cut costs in other areas: we keep one car, avoid monthly payments, and put cash aside until we can pay in full. We drove an older Maxima until we saved enough to buy a 2009 Altima outright, and being a one-car household saves insurance, maintenance, and fuel costs.
We know our approach looks unusual: we don’t spend lavishly on dining out, clothing, or conveniences. A monthly treat might be a single dinner out. Clothing spending is minimal—sometimes zero for months—because friends and family often pass things along. We even make our own cleaners and give each other haircuts. These choices free up cash for the projects and purchases that matter most.
If you want to save faster, look for small recurring expenses to trim: your daily coffee, frequent restaurant meals, or impulse clothing buys. Try a month without buying non-essentials to see how much you can redirect toward a goal. Consider downgrading a vehicle, selling unused items, or carpooling. Trade temporary glamour for long-term priorities.
Our core rules are straightforward: don’t spend beyond your means, save for what’s important, and avoid impulse buys just because items are on sale. If you don’t have the money saved, you don’t buy. Use paint and what you already own for short-term fixes while your savings grow. Host a garage sale or sell items online to add to your project fund. It’s disciplined, but it works for us—and it can work for others who are willing to make a few small sacrifices.
We’d love to hear how you save—envelope systems, budgeting apps, one-car households—share your strategies and tips!
Pssst—if you want more of our penny-pinching tips, check out our Save It series and other posts on living simply and stretching a dollar. Happy saving and smart spending!