Money Musings 💠When decorating your home is really an investment
This week: When decor is an investment, the support we all need in uncertain times, how Joan paid off $56K in credit card debt, and community money wins.
What you’ll find below:
Reflection: When decor is an investment
Money Move: The last but maybe most important ingredient
You Gotta See This: How Joan paid off $56K in credit card debt
Reel of the Week: Weaponized incompetence can look like..
There are many valid reasons to invest in decorating your home. It makes you happy. You want to enjoy your space. Design is a passion. The list goes on and on.
I’ve shared a lot about our home buying, selling and renting journey here. It’s not for everyone but we treat our home like an investment and it’s been a big wealth-builder for us.
Here are the things that have made us successful in this endeavor:
We really know our specific market and we stick with it
We have time on our side. We put ourselves in situations where we can stay happily in a home for a while so we are never at the mercy of the market. Sounds familiar right?
We use our emotions to our benefit (instead of denying we have them). If we’re emotionally tied to our home and love living there, we strategically choose a number to sell that would make it feel worth it to move.
We invest strategically. While it makes sense for some to invest in soup to nuts decor for their home, that doesn’t always make sense for us.
Here’s how we think about what to invest in upgrades, renovations and decor. Before we make an investment in something for our home, we ask ourselves the following questions:
Will this add value to our home? Adding a garbage disposal, a reverse osmosis water system or a built-in pantry, were things we believed would increase the value of our home. In our first home, we made some decor upgrades like paint, moulding, upgrading our doors, and knobs for around $40K and it completely transformed the look and feel of our home. Depending on the home, aesthetic upgrades can make a huge difference to potential buyers.
Will we enjoy or use these things while we live there? Are these upgrades or purchases that we will enjoy having or get benefit from while we’re living in the home? We got beautiful curtains for the kids room (which look great and help them sleep well). We enjoy having a big pantry and a built-in locker for the kids’ backpacks.
If it’s something that we’ll bring with us (like a piece of furniture for example), will we most likely use it in our next home? Or is it very specific to our current apartment? While I know that my beautifully decorated office that I enjoy daily is a win-win as it helps the home look better to potential buyers AND I enjoy it, I will most likely not be able to bring our wallpaper to the next place.
Is there a way to make it fabulously frugal? I want to love the space I’m in but understand that decorating a room (the furniture, wallpaper, accessories, etc.) can be astronomical. Is there a way to get what I want (or close to it) for less? I’ve been using Havenly for design help and it’s been a game-changer. It’s the perfect mix of design expertise plus DIY that I crave. Can I repurpose something I have? Can I get it second hand? Is there a women-owned or more sustainable option?
While each decision is different, the more win-win the item or choice is, the better.
I also embrace the power of not YET. These things can take time. I won’t complete every room the moment we move in. What’s top priority and what can I wait on?
Are you evaluating any home upgrades? Does this list help?
QUELL YOUR MONEY WORRIES: WEEK #5. INVEST IN COMMUNITY.
In times of uncertainty, one of the best ways to quell our money worries is with community. Having someone you can call or text when you’re feeling nervous or unhinged, is invaluable. Even better if they are familiar with your money goals and help you stay the course and focused.
Plus, accountability works. When we tell someone we’re going to do something, there’s a 65% likelihood we’re going to do it. If we make a plan to check in with them, that goes up to 95%.
Besties, family members, colleagues, and even your partner can all be money buddies. You can also find an incredible group of money buddies all going after their wealth-building goals together in the Money Club. I’ve seen first hand the magic that comes from the community there.
MONEY WIN DEEP DIVE.
Around here we celebrate your money wins - big and small - each and every week. Because taking steps, no matter how small, leads to more steps and our progress snowballs. It’s a beautiful thing!
And now we’re diving into a money win of your choice each month so you can get all the juicy deets.
This month we’re talking to Joan B Holden who paid off $56K of credit card debt in 5 years!
HUGE congrats on this tremendous milestone. It's so inspiring! How did you do it
Had 3 tactics - snowball method, set it and forget - meaning having it withdrawn from my account automatically, and a really good friend who was my cheerleader and helped me determine the pace for paying it off. AND keeping me accountable with a monthly check in.
For those who are so inspired by your achievement and are looking for guidance / advice, what would you tell them?
Auto pay is your friend - when you get a bonus or a raise deduct at least 10% and put it towards paying your debt off faster./having someone in my corner was crucial for me.
Have you tried to do this before? What made the difference this time?
I have not tried to do this before. I have not been great with money in the past. I have been a performing artist for many years and did not make good choices with finances when I was younger. The difference this time, is that I was drowning in debt and with no end in sight and terrified that I would never retire. My best friend helped me start changing my attitude. She worked with me to help my shift from a sense of helplessness to a sense of control over my finances. This is the first step there is much to do, but now I feel like I can do it.
What motivated you to keep going?
I got married at a later age in my life and I didn't want debt to be part of our money future as a couple.
What's next for you as far as money goals?
I have two goals - 10K in an emergency fund and to Max out my Roth contributions for the first time ever.
How are you celebrating this win?
I went to visit my best friend who helped me and we had a spa day with Champagne.
Here are all the amazing money moves you made this week CONGRATS! Celebrating you all!
Mary C: Bought my first home all by myself! With 10% down
Shal: Paid final installment off a large loan and took on a side job to earn some extra cash!
Courtney: Started finding small remote side work to do to help tackle some lingering debts
AmyB: Loaded up on many bags of the good canned cat food during Petco's reset... I'm sure I saved at least a couple hundy...
Courtney: I made my first recurring deposit into my HYSA
Kate S: Have not bought any new clothes in 2025 - thrifted only, which has saved me a ton!
Ashley E: Getting pet insurance for our new puppy!
Katherine G: Saved $140 by taking PATH first into NJ, then Lyft the rest of the way!
Carolyn: My husband and I are about to hit 1-year of emergency funds!
Maria: Hounding insurance for unexpected medical bills (that should be covered )
Jenny G: I joined the Money Club! That's a win in itself!
Jodi: Trying to get back on track with budgeting
Maria V: Signed up for a well known learning app. Requested a full refund within 7 days. $90 back
Audrey: Switched auto insurance, saved $100 for 6 months and improved coverage
Caitlin B: Put together an extensive (precarious) excel sheet with all of my expenses
Rachel: Got my six month derm screening and treated myself to starbs using stars/credits
Jennifer G: Paying out of pocket for all health stuff this year and maxed out / investing HSA funds
Ivy: Recently had to use my cash buffer and was so relieved to have it!
Jen: Mattress @ Costco on sale. To get $ adjusted, had to buy and return on old receipt. Saved $150
Aidyl S: Maxed out my Roth early this year. Means more money to pay off my car faster
Katie: Put $8k into first home saving account (comes off income). We both got big tax refunds
Share your money wins here!