Home > Basics > Beginner

Basics Beginner: Financing a Major Purchase

Introduction to Financing a Major Purchase Budgeting for a Major Purchase Automatic Savings and Investment Plans for Major Purchases Appropriate Investments for Major Purchases Borrowing Money for Major Purchases Summary of Financing a Major Purchase
Image for Summary of Financing a Major Purchase

Summary of Financing a Major Purchase

(6 of 6)

Summary of Financing a Major Purchase

As you can see, you will find some means of finance more suitable to your financial situation. If you need to borrow, you have options at your disposal. The critical thing is to start with a budget and find ways to afford your purchases with current cash.

With that in mind, here are some things to do.

Practical Ideas I Can Start with Today

  • If I cannot buy the product using my current income, create a budget and decide on when and how I will be able to pay for it.
  • Determine the right amount to pay myself each month and set up an automatic program to save for the required purchase.
  • If I need to borrow money, set a dollar amount and research the best way—credit card, home equity loan, etc.—to fund it.

What you have learned

  1. Budgeting for a Major Purchase
  2. Automatic Savings and Investment Plans for Major Purchases
  3. Appropriate Investments for Major Purchases
  4. Borrowing Money for Major Purchases

Find out what you have learned

Take the quiz