The price of granite has declined by about 50 percent. You can thank competition for the reduction as producers in Asia and Brazil quarries now market granite in the United States.
Remodeling contractors say the cost of labor for kitchen projects is down as well. People who have waited out the recession and have the money to do it are moving forward with kitchen updates.
The Harvard Joint Center for Housing Studies say remodeling spending fell 16 percent between 2007 and 2010. Now, affordable prices for traditionally upscale appointments are perking up homeowners’ remodeling plans.
According to the National Association of Home builders, overall remodeling costs are running at least 20 percent lower than 2006.
The biggest budget killer: impulse buying.Studies at the University of Pittsburgh show that impulse buying adds up to 30 percent of overall spending. Here are some tricks to keep you from unplanned purchases:
- Look at the clothing or electronic gadget but don’t touch them. Picking up an expensive sweater or cellphone increases your sense of ownership, which makes it more difficult to resist buying. Consider what you would rather do with the money. Save it toward a grand vacation? Focus on which one you would rather give up.
- Shop with a list. This classic idea can be one of the biggest money savers of all. Decide what you want and need. Mentally decide how much you are willing to spend on gifts, personal care and items for your home, and how you could save one-third of those costs over a year.
- Create separate savings accounts for items like vacations, Christmas, and new furniture. One Dartmouth researcher says a reminder on your calendar can help. Reminders like “Deposit tax refund to Roth IRA” can boost savings by 15 percent.
Wow, what a difference. You did a fantastic job on them.
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