How to Create Your First Budget

Welcome to Budget My Reno! This guide will walk you through creating your first renovation budget and getting started with tracking your project expenses.

Step 1: Create a New Project

After signing up and logging in, you'll see your dashboard. Click the "New Project" button to create your first renovation project. Give it a name that helps you identify it easily, like "Kitchen Renovation 2026" or "Bathroom Remodel".

Step 2: Set Your Total Budget

Enter your total budget for the project. This is the maximum amount you plan to spend on your renovation. Don't worry if you're not 100% sure yet - you can always adjust this later.

Step 3: Add Budget Categories

Break down your budget into categories that make sense for your project. Common categories include:

  • Materials
  • Labour
  • Fixtures & Fittings
  • Appliances
  • Permits & Fees
  • Contingency

Step 4: Set Up Contingency

We highly recommend setting aside 10-20% of your budget for contingency. Unexpected costs always come up during renovations, and having a contingency fund helps you stay prepared.

Step 5: Start Adding Expenses

As you receive quotes and make purchases, add them to your budget. You can:

  • Manually enter expenses
  • Use AI Invoice Scanning to automatically capture details
  • Upload documents and link them to expenses

Tips for Success

Here are some tips to get the most out of Budget My Reno:

  • Be consistent: Enter expenses as they happen to keep your budget up to date
  • Use categories wisely: Proper categorization helps you see where your money is going
  • Check your dashboard regularly: The visual overview helps you spot potential budget issues early
  • Share with stakeholders: Invite family members or contractors to view your project

Ready to get started?

Create your free account and start tracking your renovation budget today.

Start for Free