Coming Soon(ish): New Kitchen

I’ve been wanting a new kitchen since we purchased this house but there’s always been something else that we wanted or needed to do. Frankly when faced with a big sum of money or a lot of little things it’s easier to spend on the little things. That’s meant going on short vacations, purchasing some furniture, fixing the washing machine, buying new mats for the bathroom. You get the idea.

This year we’ve dubbed the year of the house. Since the kitchen is a huge project we asked our favourite contractor to visit us with the aim of saving for to do it next year. He’ll be providing a detailed quote but he estimated somewhere between $15,000 – 20,000.

I must confess my heart clutched at that number. I’m determined to do the kitchen by next April. This means saving $1,600 per month in a year if I want to do this.

The only way to do this is if I slash my spending considerably and stop saving for everything else:

  • vacations: I need these, even if it’s $200 to go visit a friend or look around my neck of the woods.
  • Life Happens: giving this up would mean I’m just throwing myself into debt if something were to happen, like an appliance dying.
  • Car: this can be reduced but the whole point was to have a sizeable down payment if my 2007 vehicle is no longer feasible as well as to ensure that I’m maintaining her properly
  • Gifts: I give a lot of gifts because I have lots of people to treat. I shop frugally and put a great deal of thought into my gifts so this is not budging
  • House Insurance: this is non-negotiable
  • Medical – this is also non-negotiable it covers those needs that aren’t covered by insurance and since I have to wait for insurance to reimburse me it also helps me not go over budget.
  • Sky is Falling Account: I have two of these. One is liquid and the other can easily be liquidated. I treat one as a job loss account and the other as retirement savings.  My aim is to have 6 months savings in one so that if I were to lose my job I’d have breathing room.
  • Mortgage additional payments – I’ve got money being set aside so we can pay the mortgage sooner.
  • Leftover Fund: money that was budgeted but wasn’t used gets put here to be spent on fun extras.
  • Home Improvement: for any non-kitchen related upgrades we want this year.
  • Kitchen: I currently have ~$100 going into this. So you know, just $1,500 more needed per month…

My sky is falling Job Loss account  has a little less than 25% of my goal in it. To help my heart, I’m going to act as if the money currently in that account is being put towards the kitchen. This will allow me to not stress too much while still building the job loss account.

DECISION: I’m going to keep saving as I do with the knowledge that next April all my savings lines may be pressed into service. All extra money, ML’s side hustle or my staying below budget, will be siphoned into the kitchen fund.

REALITY: To save $20,000 in a year is definitely a stretch goal. I’m not sure it’s reasonable. So this year is every month is going to have to be uber-frugal month. ML is on board so I know I can count on his support. We’re going to aim for $20,000 and work with the contractor to get it in as close to $15,000 as possible. We don’t want to scrimp on the kitchen as it’s a large job and want to pay upfront for quality products.

We’re not going insane but as the room needs to be gutted and all appliances replaced it’s going to be a big job and we need to realistic about it.




8 thoughts on “Coming Soon(ish): New Kitchen

  1. That is such a big number! On the bright side, with it being so big, the pleasure pay-off at the end of your purchase will be through the roof! Remodeling the kitchen has been on your dream list- I think you deserve this reward after all your hard work! And maybe a year of frugal living will become habitual; just think of all the possibilities that could come from this. 🙂

    Liked by 1 person

  2. Pingback: Big, Hairy, Audacious Goals – Saving Without Scrimping

  3. 20k … I’m trying to crush that much on my debt this year. It’s a lot. I think with a new kitchen at the end of it – It would be so much easier to do. It’s a much more tangible goal. Go you!


  4. Pingback: Kitchen Savings Update – Saving Without Scrimping

  5. Dont know your circumstances but you may be able to do without some appliances. Eg our kettle broke, used the microwave. Did without toaster…didnt miss and switch to lebanese bread (healthier). We dont own a dishwasher. We walk as much as possible to places. We sold 2007 car, too expensive to maintain and bought newer. We personally dont do holidays, except once a year to visit family. I found learning re zero waste movement (see youtube tedx talks to start with, join journey to zero waste fb group) has helped changed my mindset (positively). Can you do second hand for home improvement? You have a lot of funds…is leftover one neccesary?..lots of fun stuff in life is free. Great to pay motgage off quickly. Can you save even more somewhere else?..even if its learning how to sew/cook better (eg. Im working out how to use food scraps better like making and freezing lemon zest)

    Liked by 1 person

    1. Those a great things! I’ve been slowly trying to incorporate more zero waste solutions into my life.
      I think a lot has to do with knowing yourself.

      In terms of Kitchen expenses, we unfortunately have to gut it. We’re working with someone we trust to ensure we’re getting the best value for our lifestyle.

      Our aim is to over-save and then come under budget. While we can save more the goal is always to not feel squeezed. I’m pleased with our savings and wanted to record it so if I begin to feel as though I’m not making enough headway I have proof that we are doing a good job.

      Liked by 1 person

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