Once you've made the decision to redecorate and redesign a space in your home, the wheels in your mind start turning almost immediately. Color schemes, furniture styles, and lighting dance through your minds...but then, here comes the budget bursting your bubble and bringing you back to reality.

Setting a budget doesn't have to be a buzzkill, though. In fact, it's probably the most important step of the design process, as your budget determines exactly what you can do to your space. Read on to find out how to make your budget work for you and your design endeavors as we take a look at some of the interior design elements you should splurge on and which of those you should save on.

Splurge or Save: 4 Things to Keep in Mind While Creating a Budget

Functionality should ultimately be the deciding factor when selecting seating because, let's face it: that funky couch the hottest new designer is selling might be cheaper than the big sofa you've also been eyeballing, but sitting on it for more than five minutes at a time isn't the most comfortable thing. One of the most important design tips we can offer is to find seating that's both comfortable and durable, and most of the time, something that meets those criteria will come at a higher price point.

Picking out a couple of trendy pieces for your space is always fun, but you'd be surprised how quickly things move in and out of style. Instead of spending a pretty penny on something that may not even be "cool" a few months later, seek a cheaper alternative or better yet, research DIY design tips that help you stay on trend for a fraction of the price.

When it comes to decorating, whether an entire home or just one room, lighting is an underrated design element. When handled well and considered carefully, lighting can add dimension to a space and turn an interior design project from just okay to absolutely stunning. Though the colors and theme set the mood of a room, the lighting and shade in a space do the same. Since the light fixtures and lighting you choose play a rather important role in the interior design process, leaving room in your budget to shell out a few extra dollars is well worth it.

Once you find a color scheme you like, naturally, you'll want to find accessories that match, including throw pillows. You might think you'll love those colors and patterns forever, but let's be honest: at some point, you're going to want to switch it up. Changing your throw pillows at some point, whether you're doing so because you don't like them anymore or you want to switch to something more seasonally appropriate. For that reason, you should invest in something inexpensive; that way, you aren't losing money if you decide to switch them up later on. Besides, no one can tell the difference between a 40 dollar pillow and a 12 dollar one.

Knowing when you'll splurge and when you'll save during the interior design process helps make the budgeting process simple, and when you don't have to stress about money, you can spend more time thinking about all the fun stuff you'll put in your space...like fun patterned curtains and modern-but-rustic sliding barn doors.