The Many Benefits of DIY

By David Ning on 24 January 2012 (Updated 3 June 2014) 1 comment
Photo: mbaylor

I will be the first to admit that the I'm not a good handyman. I'm not proficient with anything that has to do with my hands other than, well, typing. But even for someone like me, DIY has its place. This is especially true when it comes to money-related matters. Here are five reasons why you need to learn how to do-it-yourself every once in a while. (See also: 5 Household Fixes You Should Stop Paying Others For)

DIY Costs Less Money (Most of the Time)

And it's not just because of the labor cost. When you know how to do things yourself, you understand the intricate details of what makes a high-priced product or service costly. Once you have this understanding, then you have the knowledge to  choose what is important to you, saving money while getting something that will truly serve your needs. Take a home remodeling project, for example. A major expense is the appliances that you choose. The price difference between ultra-high-end and high-end products can be thousands of dollars. If you have the knowledge to know that the lower-priced option will work find for you, you can use the rest of the money to remodel the more of your house.

Learning Something New Is Fun and Fulfilling

Completing a DIY project gives you one of the most satisfying feelings anyone can have. And when you are happy, you can avoid the spending temptations that would fill an emotional void. Say good bye to your midlife crisis!

Your Pursuit for Improvement Gives You a Chance to Meet New People

As you dive deeper into DIY, you will find like-minded individuals, whether it's at classes you attend or local get togethers arranged through online forums dedicated to your craft. Over time, some of the wonderful people you meet will surely become friends.

You May Even Be Able to Charge for Your New Skill

Many people come up blank when they are trying to think of ways to earn more money. If this is you, then you might want to start developing a skill to improve your income.

Having a side hustle is great not only because you can possibly earn side income, but you will also be less afraid of a layoff if you have more income diversity. Not being afraid of losing your job might help you speak out more and be more assertive, character traits that could help with getting a promotion.

DIY Gives You More Options in Retirement

Having DIY skills is perfect for retirement. For starters, you might find a way to use your expertise to bring in additional income, helping you achieve your retirement goal faster and allowing you to retire earlier. Even if you don't plan to charge for your skill, you might find retirement more enjoyable as you spend a good portion of your day enjoying your DIY passion.

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Don't Quit Your Day Job's picture

Not good because you've tried and failed, or not good because you haven't had the experience? With a little YouTube watching and bravery you can fix it if the latter, heh.