Home Renovation Part 9: Accounting

You need a good grasp of the actual project expenses. I recommend that you keep your project spreadsheet up-to-date, so you will not have a nasty surprise. In addition, I recommend that you pay for the entire project by checks drawn on a separate account that you set up for this purpose. You should start by transferring the projected cost to this account (or piecemeal during the project). You can then pay for all big items with checks (the contractor, cabinets, counter tops, etc). I paid for all on-line purchases with my regular credit card, and I paid off these credit-card charges by checks drawn on this account. The separate account simplifies summing up the total expenses accrued so far.