Back to Financial Planning
Lesson 15 6 minute lesson Interactive
Planning a Major Purchase
Research the full cost, test the monthly impact, and define a walk-away point before buying.
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Lesson goal
Use a decision framework for cars, electronics, furniture, and other large purchases.
Three ideas to keep
1
Include ownership and maintenance costs
2
Compare the purchase with current goals
3
Set a maximum before negotiating
Try it
Make the call
A used car fits the purchase budget, but insurance and maintenance would strain each month. What should you do?
Knowledge check
Lock it in
What is a walk-away price?
Finish both activities