If you believe the architectural style of your home demands wainscoting or if you are trying to make a remodel or addition consistent with other rooms that include wainscoting, you can save a considerable amount of money by using wainscoting made of synthetic materials instead of carved wood. You can buy entire panels of wainscoting in a variety of designs and finishes and the matching moldings made of fiberglass or plastic/vinyl. Once painted and/or installed, these synthetic materials will look just like carved or molded wood, but at a fraction of the cost.

{google2477367541}

If you found this tip helpful, you might also want to read this:
How to save when using your credit cards
Molding Calculator
Mouldings Make Decorating Magic
Use pre-finished or primed trim