HOW TO SAVE FOR YOUR DREAM FURNITURE
Purchasing a property is only the first step in the journey. Finding furniture to match your new home – and your budget – is the next step in creating the home you have always hoped to have. The key to achieving this is to have a plan and the patience to stick to it.
Like all good things in life, your ideal furniture is not going to arrive overnight – unless you are willing to get yourself into masses of debt, of course. So, that leaves you with one of three options: (1) hope that a wealthy relative passes away soon and leaves you a sizable inheritance, (2) give up on your dreams and settle for more affordable options, or (3) put aside an amount each month to save for what you’ve always wanted.
Saving for an item can be frustrating, but that instant gratification of purchasing before you have the funds available will quickly fade into nothing more than a distant memory when you’re making the 13th repayment on an item that should have cost R6,000 and is now costing R12,000.
Step One: Research
The first step in creating a furniture fund is to know how much the item you want to purchase costs. Rather than choosing one specific item, shop around to find out the average price of a certain style of furniture (for example, how much oak dining room tables cost). That way you will not be disappointed if that specific item you were saving for isn’t available by the time you have enough saved to purchase it.
Step Two: Create a Timeline
Next, you need to decide how long you are willing to wait to purchase this item. Set up a timeline on a saving scheme as this will push you to save the amount required each month in order to meet that deadline. It is always easier to wait for something when you know exactly when you are going to be rewarded for your patience and discipline.
Step Three: Find the Money to Save
Finding the spare cash to put aside is by far the trickiest part of this exercise. You will have to take a close look at your budget and see where you can save on non-essential items, such as your entertainment budget or perhaps even your grocery bill – we tend to fill up our shopping carts with all sorts of extraneous items, such as potato crisps and fizzy drinks. You will be amazed at how much cutting back on these items will free up your cash flow. Below is a list of other expenses which you could cut back on while you save up for your furniture:
(1) Eating out / takeaways
(2) Seeing shows / going to the cinema
(3) Buying clothing and accessories
(4) Fuel (petrol/diesel)
(5) Salon treatments (haircuts, manicures, etc.)
(6) Hosting dinner parties
This might seem difficult to do, but you need to remember that these are just short-term sacrifices that will feel worthwhile after you see the furniture in your space.