Financially Responsible Remodeling

Fitzpatrick:
There is a lot of buzz about environmentally responsible remodeling—the green movement. There is less buzz about socially responsible remodeling—labor-friendly projects.
There is no buzz, in our materially-obsessed, business-blinkered culture, about financially responsible remodeling.
Don’t consider a home remodeling project unless you have achieved these financial goals:

1. You have at least six months expenses in reserve; cash and liquid.
2. You have no consumer debt, meaning no credit card balances of any kind.
3. You have funded your retirement account this year.
4. You have funded your yearly committment to your children's education, if you have them.
5. You have health insurance for all members of your household.
   

Think about your situation. Given the above criteria, should you be considering a remodeling project?
Also, as the interior design voice of this repartee, the same applies for redecorating. If you skipped funding your IRA this year, don’t be funding your IKEA.