092 Financial Excellence: DIY Project Gone Wrong

Living In Financial Excellence

10 Jan 092 Financial Excellence: DIY Project Gone Wrong


Financial Podcast for budgeting, debt free living and investing

Episode 92: DIY Project Gone Wrong & Tax Deductions for Charitable Donations, Jan 10, 2012.

A few months ago I wrote a post about whether the benefits of hiring a professional outweigh the frustrations of trying to do a project yourself. In that post, I mentioned we had skilled friends who knew what they were doing and had the right tools. In today’s show I share a personal DIY project that went wrong. Big time. And it cost me a bunch more than it would have to hire a professional.

Oh, and I answer a mailbag question from a listener about tax deductions for charitable donations.

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Show notes:

  • We have a new sponsor for the podcast. Mozy Pro for Business is a fast, simple way to back up your business so you don’t have to worry when your hard drive crashes.
  • Megen wrote in with a question about whether you can deduct charitable donations if you don’t qualify to itemize deductions.
  • I’m pretty handy around the house and with our cars. But my latest project got out of hand. Today I share what happened.
  • I probably would have been better off paying a mechanic to do the work for me. I got a quote of $529.90 and at this point I’m probably already $260 in with three days lost.
  • I’ve done similar projects before but they were at my dad’s house where he had all the necessary tools. I somehow forgot that I didn’t have all the tools for the job and I had to go buy some more. Talk about sticker shock! I had no idea that even cheap tools could cost that much.
  • Have you ever attempted a DIY project that cost you way more than you anticipated? Share your story by leaving a comment.
  • You can influence what we talk about in future shows. Simply fill out this three-minute survey.

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