Things cost money. When things cost a lot of money, you want to save up finances. Major purchases are an exercise in saving finances. How you handle the saving process depends on being able to make major purchases. So for this blog post, I discuss making major purchases. Hopefully this will be a discussion to your liking if this topic interests you.
When something you need or want costs a lot of money, you will need enough finances to make a purchase happen. You need enough credit to acquire something anyways. Some items require more money for which to acquire. There is no one specific way to save up enough finances to buy anything. What may work for one person may not work for another.
I always try to be transparent and real regarding topics I feature in my blogs, so let me share that I am as much into major purchases as you are. For me, I have been trying to save up money lately to get myself a modern gaming console. The original plan was to get a Nintendo Switch. That plan changed to getting a used PlayStation 4. Now, I have considered saving up to get a PlayStation 5 [Disc Version]. The plan I have currently means I have to consider saving up more money to get what I want.
I have made enough strides to save money for things. I remembered saving up money towards buying a computer, a Chromebook, an MP3 player, a PlayStation 3, and a few other things. I have done things like get PayPal money and even doing paid blog posts. I have done nearly anything to try to make and save money.
A TV program I used to watch years ago (around 2012) about saving money was called "Deals" on the Live Well Network (now known as LOCALish). The host of this former show, host, Katishia Cosley, would offer up money-saving advice ranging from spending less on items to even making your own items to save money. Watching this show around 2012 or so was helpful in knowing what is possible for stretching dollars. ABC 13 here in Houston also had a segment on their afternoon news called just that- "Stretch Your Dollar" with former newscaster, Patricia Lopez. Nowadays with this topic, I watch "Sullivan's Smart Sense" with Heather Sullivan on FOX 26 here in Houston. Saving money can help towards making major purchases in case you are planning on making any major purchases. That is my own personal inspiration towards saving money and in making major purchases.
Now that I have discussed the individual nuances of saving money and my own situation, let's delve deeper into the matter of making major purchases and saving money.
So you want to plan a big purchase some time soon or in the future? Good! Be mindful of a few things, though. Please consider the following...
A need involves something necessary and essential to living. A major purchase as a need includes things like houses, rent, vehicles, some furniture, some electronics, certain services, enough for groceries, going to school/college/university, tuition, and things like that. Needs can also include saving for retirement, paying for insurance, disability benefits, credits for services, and more. Saving up for something essential is surely is serious regarding major purchases.
A want is something you'd like to have that is not essential towards living. These can be simple things like video game consoles, gaming computers, video games and computer games, some clothes, certain footwear, collectibles, and the like. Things non-essential to your living but like to have is a want. Starting a business can also be a want if you are looking for a long-team deal of staying financially stable or being able to provide for your family and others.
Depending on your situation, you will have to weigh your needs and wants. Some wants can be needs if something is very important to you. So even the most comical of things can be something you feel you must have. Maybe you do need something non-essential to help live better or open opportunities to new things. It all depends.
The best thing to think about in this situation is to consider the price of something and add sales taxes (if applicable). Let us use the PlayStation 5 Disc Version example here for a moment. I also suggest you get a little math lesson out of this. Wal-Mart sells the PlayStation 5 for $499.99 USD. Sales tax here in Texas is usually 6.25% or up to 8.25%. Here is the math:
(price of item/service) x (sales tax) = total price
Multiply the price of the item by the sales tax to get the final price. You obviously want to round that total to the nearest hundredth. Then, make sure you have the money to pay for that thing. So in my example, a $499.99 USD PS5 Disc Version coupled with a sales tax of 8.25% here in Texas means you would need to save up $541.24 to buy it. What if you wanted to buy a game or two along with that? What if you wanted to get a gift card to use PlayStation Plus? That means you would have to add those things towards what you want to pay for. That means paying for what you want in addition to anything extra you want with the major purchase you have planned. So that means taking the price of the major purchase and adding on whatever else you want to get with it. That will more than likely equal a higher price tag than just the major purchase you plan to make.
If you do not have enough money to get certain things in addition to making a purchase, you will need to save more money and plan to buy something else later. If you have something that is a periodic payment, such as a subscription to a service or monthly fees, you also have to take that into consideration in having leftover money to handle some other expenses or to add to what you already have. Having no more money and no way to pay for any extra items or expenses can lead to some poor financial health. Think critically about planning any major purchases.
One more important thing to remember about major purchases is that life happens. "Life happens" is not only the motto of this blog, but it is the truth. Trying to save up money for some sort of major purchase can give some obstacles and challenges often times. For example, you may get injured or no longer be employed at a job. These things may require you to find other ways to make money or pay for other things outside of what you want to buy. It is therefore imperative to handle as many financial expenses as possible even while you are trying to buy something you really need or want.
Now it is time to discuss saving money. The next section discusses this matter.
The most important element of making a major purchase is to save money. How you go about saving money depends. Doing whatever it takes to save up money is the challenge.
Some people who barely make any money or are given money will try to save up their finances in hopes of making a major purchase. I hear stories of people who save up a little money and hopefully be able to start a business. Some major companies started out with having just a little money and then saving up to start businesses that ultimately become million-dollar and even billion-dollar companies. Saving up money is a huge part of this process.
If a parent or someone gives you money, this is something to definitely save up for. If you need to use any given money, make sure to use it sparingly. What you want to do is save enough money to make a sort of major purchase. Twitch streamers and YouTube video makers sometimes have streaming services that allow for donations. Some even use the likes of PayPal or Venmo to carry out financial tasks for their work. Regardless, taking advantage of such things is crucial towards saving.
What one certainly wants to do in the case of income and expenses is to make sure expenses do not exceed income. You don't want spending to go over the top.
• I used to have an account with a bank that charged monthly fees. If you want to save money, try going with a service that does not charge monthly fees. It may also help to have a debit card so you don't have to worry about paying off credit cards. One example of a company that does not charge monthly fees is Bluebird's debit card.
• If you are in a financial pinch and are subscribed to services, get out of subscription services. For example, you may choose to get out of a Netflix subscription just to save some extra money. Getting out of subscription services can help you save some extra money.
• You may also think about signing up for less expensive services or holding back on buying certain things. If you go to a grocery store offering cheaper prices on some of the same items, shop there to save some money.
• If you can make something yourself that costs less than buying from a store, you can try that as well. Some people who have farms or some animals could produce their own products to feed their families. Think about having chickens hatch eggs so you won't need to buy eggs at a grocery store, for example. Some people even meal prep so they will not have so much indecision on what to eat for a day or a week. This can save money especially if your creations are cheaper than something similar you would buy at a store or online.
• Take advantage of sales and discounts. Some things you need or want could be offered for discounted prices. You may be able to score some deals if what you want is sold for a cheaper price than its original price. So take advantage of these opportunities.
• Use coupons if you have any. Coupons will allow you to get certain things for cheap when you go to check out things at stores. For online sales, using certain discount codes work just like coupons. These online codes for online sales can allow you to get a discount like a coupon for goods online.
• Use gift cards or special cards if you have any. If you have a card that can be reloaded with money, be sure to add funds to that card so you will not have to pay so much for anything. Be warned some services may not accept certain cards. For example, I tried buying games on the popular PC game store GOG, and I was unable to purchase games because of my gift card. Be careful in these times.
If you tag some companies on social media with things you make or promote, companies may offer you things as a showing of respect. This can be good to get things without needing to save up money. These usually can come in the form of reviewing things from a company. You may even be compensated for your involvement.
• Want to not spend your own money on things? Have someone else pay for things! This could be great if someone gives you something that you want but have someone else pay for it. You could receive something as a gift. If you are a content creator, try to engage your audience into helping get tips and donations to help you finance something.
• Set up or get involved in crowdfunding. Crowdfunding is where many people join together and donate money towards being able to finance certain things. You may see donation goals for certain online streamers and content creators trying to finance something. For example, an online streamer may set a donation goal towards buying a new gaming system or a better PC or laptop. Even if you do not make your own money, it at least is helpful to have an active, paying crowd to help you with certain financial goals.
• You can sell a lot of things you are not using any more or simply want to get rid of. You can build up your finances and save money to help towards making a major purchase or simply having extra money on hand.
• If you have a method of passable income (such as blogging or selling goods), use those services and get the revenue to help in building your finances. All that has to happen now is saving that extra money up.
Of course, these are only a few suggestions towards saving money. You may be able to find other ways to save money for making purchases.
Money is important to acquiring certain things. When you do have insufficient funds, the task is to save money. How you do so depends on your financial situation and whatever it is you are looking to purchase. What may seem like a want may be a legitimate need for some people. Everyone has different situations in terms of buying something. People may have to sacrifice certain things for which to save money, especially when planning buying something major.
Money is never abundant. We all know money does not grow on trees, so it isn't like you could pick money from trees as you would some fruits. It is best to save money when you can. If you are planning major purchases (or even simple ones), having enough money to cover costs goes a long way towards your personal happiness. You may want to speak with financial advisors or seek solutions from your bank or credit union if you want to make proper decisions regarding your money. Also remember that life can get in the way of making any planned major purchase. Be sure to handle and consider all expenses in addition to making a major purchase.
Make as many smart decisions to handle your finances before, during, and after planning a purchase of any scale. Surely have major purchases in mind, but make sure to be able to pay for all of the associated costs and expenses.
If you are planning any major purchases any time soon, I hope you will be able to save up enough money to help finance whatever it is you need or want. This post is over right now. Feel free to offer your own suggestions if you wish. Help me help others. Subscribe/Follow my blog(s) in any capacity if you love my work. Share my blog post(s) with others if you enjoy my work. Support me further by connecting with me on social media; and if you are inclined, feel free to donate to me (donations are voluntary but would be appreciated). Thank you for reading! Take care and be well.
read more...
Making Major Purchases: At a Glance
When something you need or want costs a lot of money, you will need enough finances to make a purchase happen. You need enough credit to acquire something anyways. Some items require more money for which to acquire. There is no one specific way to save up enough finances to buy anything. What may work for one person may not work for another.
I always try to be transparent and real regarding topics I feature in my blogs, so let me share that I am as much into major purchases as you are. For me, I have been trying to save up money lately to get myself a modern gaming console. The original plan was to get a Nintendo Switch. That plan changed to getting a used PlayStation 4. Now, I have considered saving up to get a PlayStation 5 [Disc Version]. The plan I have currently means I have to consider saving up more money to get what I want.
I have made enough strides to save money for things. I remembered saving up money towards buying a computer, a Chromebook, an MP3 player, a PlayStation 3, and a few other things. I have done things like get PayPal money and even doing paid blog posts. I have done nearly anything to try to make and save money.
Inspiration/Motivation to Save Money.
Let me share some of my motivations and inspirations regarding saving money.A TV program I used to watch years ago (around 2012) about saving money was called "Deals" on the Live Well Network (now known as LOCALish). The host of this former show, host, Katishia Cosley, would offer up money-saving advice ranging from spending less on items to even making your own items to save money. Watching this show around 2012 or so was helpful in knowing what is possible for stretching dollars. ABC 13 here in Houston also had a segment on their afternoon news called just that- "Stretch Your Dollar" with former newscaster, Patricia Lopez. Nowadays with this topic, I watch "Sullivan's Smart Sense" with Heather Sullivan on FOX 26 here in Houston. Saving money can help towards making major purchases in case you are planning on making any major purchases. That is my own personal inspiration towards saving money and in making major purchases.
Now that I have discussed the individual nuances of saving money and my own situation, let's delve deeper into the matter of making major purchases and saving money.
Making Major Purchases
So you want to plan a big purchase some time soon or in the future? Good! Be mindful of a few things, though. Please consider the following...
Major Purchases: Needs and Wants.
If there is something you are looking to buy, is it a need or a want? When it comes to more expensive things, the importance of having it warrants saving up for them.A need involves something necessary and essential to living. A major purchase as a need includes things like houses, rent, vehicles, some furniture, some electronics, certain services, enough for groceries, going to school/college/university, tuition, and things like that. Needs can also include saving for retirement, paying for insurance, disability benefits, credits for services, and more. Saving up for something essential is surely is serious regarding major purchases.
A want is something you'd like to have that is not essential towards living. These can be simple things like video game consoles, gaming computers, video games and computer games, some clothes, certain footwear, collectibles, and the like. Things non-essential to your living but like to have is a want. Starting a business can also be a want if you are looking for a long-team deal of staying financially stable or being able to provide for your family and others.
Depending on your situation, you will have to weigh your needs and wants. Some wants can be needs if something is very important to you. So even the most comical of things can be something you feel you must have. Maybe you do need something non-essential to help live better or open opportunities to new things. It all depends.
Considerations After Planning Making a Major Purchase.
What can be more important than a major purchase itself is in dealing with finances after the purchase. You may have bought something for about $340 USD, but have you thought about having money left over? I always consider the price of something, the sales tax for it, and then how much money I'd have left over. It would be a bad idea to try to buy something without having sufficient money remaining or any way to rebuild finances after a purchase. It would be an even worse idea if you are involved something that may involve periodic fees. You want to have enough money to handle certain other purchases.The best thing to think about in this situation is to consider the price of something and add sales taxes (if applicable). Let us use the PlayStation 5 Disc Version example here for a moment. I also suggest you get a little math lesson out of this. Wal-Mart sells the PlayStation 5 for $499.99 USD. Sales tax here in Texas is usually 6.25% or up to 8.25%. Here is the math:
(price of item/service) x (sales tax) = total price
Multiply the price of the item by the sales tax to get the final price. You obviously want to round that total to the nearest hundredth. Then, make sure you have the money to pay for that thing. So in my example, a $499.99 USD PS5 Disc Version coupled with a sales tax of 8.25% here in Texas means you would need to save up $541.24 to buy it. What if you wanted to buy a game or two along with that? What if you wanted to get a gift card to use PlayStation Plus? That means you would have to add those things towards what you want to pay for. That means paying for what you want in addition to anything extra you want with the major purchase you have planned. So that means taking the price of the major purchase and adding on whatever else you want to get with it. That will more than likely equal a higher price tag than just the major purchase you plan to make.
If you do not have enough money to get certain things in addition to making a purchase, you will need to save more money and plan to buy something else later. If you have something that is a periodic payment, such as a subscription to a service or monthly fees, you also have to take that into consideration in having leftover money to handle some other expenses or to add to what you already have. Having no more money and no way to pay for any extra items or expenses can lead to some poor financial health. Think critically about planning any major purchases.
One more important thing to remember about major purchases is that life happens. "Life happens" is not only the motto of this blog, but it is the truth. Trying to save up money for some sort of major purchase can give some obstacles and challenges often times. For example, you may get injured or no longer be employed at a job. These things may require you to find other ways to make money or pay for other things outside of what you want to buy. It is therefore imperative to handle as many financial expenses as possible even while you are trying to buy something you really need or want.
Now it is time to discuss saving money. The next section discusses this matter.
Saving Money
The most important element of making a major purchase is to save money. How you go about saving money depends. Doing whatever it takes to save up money is the challenge.
Some people who barely make any money or are given money will try to save up their finances in hopes of making a major purchase. I hear stories of people who save up a little money and hopefully be able to start a business. Some major companies started out with having just a little money and then saving up to start businesses that ultimately become million-dollar and even billion-dollar companies. Saving up money is a huge part of this process.
If a parent or someone gives you money, this is something to definitely save up for. If you need to use any given money, make sure to use it sparingly. What you want to do is save enough money to make a sort of major purchase. Twitch streamers and YouTube video makers sometimes have streaming services that allow for donations. Some even use the likes of PayPal or Venmo to carry out financial tasks for their work. Regardless, taking advantage of such things is crucial towards saving.
What one certainly wants to do in the case of income and expenses is to make sure expenses do not exceed income. You don't want spending to go over the top.
Saving Tips.
Here are a few random tips of things I know regarding saving money.• I used to have an account with a bank that charged monthly fees. If you want to save money, try going with a service that does not charge monthly fees. It may also help to have a debit card so you don't have to worry about paying off credit cards. One example of a company that does not charge monthly fees is Bluebird's debit card.
• If you are in a financial pinch and are subscribed to services, get out of subscription services. For example, you may choose to get out of a Netflix subscription just to save some extra money. Getting out of subscription services can help you save some extra money.
• You may also think about signing up for less expensive services or holding back on buying certain things. If you go to a grocery store offering cheaper prices on some of the same items, shop there to save some money.
• If you can make something yourself that costs less than buying from a store, you can try that as well. Some people who have farms or some animals could produce their own products to feed their families. Think about having chickens hatch eggs so you won't need to buy eggs at a grocery store, for example. Some people even meal prep so they will not have so much indecision on what to eat for a day or a week. This can save money especially if your creations are cheaper than something similar you would buy at a store or online.
• Take advantage of sales and discounts. Some things you need or want could be offered for discounted prices. You may be able to score some deals if what you want is sold for a cheaper price than its original price. So take advantage of these opportunities.
• Use coupons if you have any. Coupons will allow you to get certain things for cheap when you go to check out things at stores. For online sales, using certain discount codes work just like coupons. These online codes for online sales can allow you to get a discount like a coupon for goods online.
• Use gift cards or special cards if you have any. If you have a card that can be reloaded with money, be sure to add funds to that card so you will not have to pay so much for anything. Be warned some services may not accept certain cards. For example, I tried buying games on the popular PC game store GOG, and I was unable to purchase games because of my gift card. Be careful in these times.
If you tag some companies on social media with things you make or promote, companies may offer you things as a showing of respect. This can be good to get things without needing to save up money. These usually can come in the form of reviewing things from a company. You may even be compensated for your involvement.
• Want to not spend your own money on things? Have someone else pay for things! This could be great if someone gives you something that you want but have someone else pay for it. You could receive something as a gift. If you are a content creator, try to engage your audience into helping get tips and donations to help you finance something.
• Set up or get involved in crowdfunding. Crowdfunding is where many people join together and donate money towards being able to finance certain things. You may see donation goals for certain online streamers and content creators trying to finance something. For example, an online streamer may set a donation goal towards buying a new gaming system or a better PC or laptop. Even if you do not make your own money, it at least is helpful to have an active, paying crowd to help you with certain financial goals.
• You can sell a lot of things you are not using any more or simply want to get rid of. You can build up your finances and save money to help towards making a major purchase or simply having extra money on hand.
• If you have a method of passable income (such as blogging or selling goods), use those services and get the revenue to help in building your finances. All that has to happen now is saving that extra money up.
Of course, these are only a few suggestions towards saving money. You may be able to find other ways to save money for making purchases.
Saving Money and Major Purchases: Final Thoughts
Money is important to acquiring certain things. When you do have insufficient funds, the task is to save money. How you do so depends on your financial situation and whatever it is you are looking to purchase. What may seem like a want may be a legitimate need for some people. Everyone has different situations in terms of buying something. People may have to sacrifice certain things for which to save money, especially when planning buying something major.
Money is never abundant. We all know money does not grow on trees, so it isn't like you could pick money from trees as you would some fruits. It is best to save money when you can. If you are planning major purchases (or even simple ones), having enough money to cover costs goes a long way towards your personal happiness. You may want to speak with financial advisors or seek solutions from your bank or credit union if you want to make proper decisions regarding your money. Also remember that life can get in the way of making any planned major purchase. Be sure to handle and consider all expenses in addition to making a major purchase.
Make as many smart decisions to handle your finances before, during, and after planning a purchase of any scale. Surely have major purchases in mind, but make sure to be able to pay for all of the associated costs and expenses.
If you are planning any major purchases any time soon, I hope you will be able to save up enough money to help finance whatever it is you need or want. This post is over right now. Feel free to offer your own suggestions if you wish. Help me help others. Subscribe/Follow my blog(s) in any capacity if you love my work. Share my blog post(s) with others if you enjoy my work. Support me further by connecting with me on social media; and if you are inclined, feel free to donate to me (donations are voluntary but would be appreciated). Thank you for reading! Take care and be well.
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