My family is moving to a new home in 6 months' time. How should I save up for renovation costs, estimated to be about 10k per person? - Seedly
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Renovations

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Anonymous

Asked 2w ago

My family is moving to a new home in 6 months' time. How should I save up for renovation costs, estimated to be about 10k per person?

I do have that amount in savings but I'm wondering what else I should do to save for this expense?

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Jason

Level 6. Master

Answered 2w ago

Hi Anon,

You can put 10k into singlife account, which provide the best interest currently with liquidity. Since you need the money in 6months, it will not be ideal to invest into equities or anything that require lock-in period.

In the mean time, you can track your expenses with an app to monitor your spendings (set a limit monthly maybe). Cut down on any unnecessary spendings if possible, as having more funds for your renovation is better than just enough or less :)

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