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We’ve already looked at how
spending small amounts of money
can add up to large amounts of
money, but now let’s take a look at spending money on
major purchases. Making a major purchase requires planning
and goal setting prior to the purchase, and it requires
hard work, responsibility, and routine maintenance after
the purchase.
Deciding on your major purchases
should be like studying for a big test. You should do
research to make the best possible decision. Study each
item and think about it for a while. Is it a want or need?
Over time, will the item appreciate (go up in value) or
depreciate (decrease in value)? The more money you plan to
spend, the more you should learn about it in order to be
confident about your major purchases. Let’s take a look
at some of these “big ticket” items:
Transportation
Decide which type of transportation you want first;
maybe a car, motorcycle, or bike. Think about what you
really need. If you live in a big city where parking is
expensive, having a bicycle or motorcycle might be your
best bet. If public transportation is not available, you
have a steady income, and you need a car to get to work,
then a car may be your best solution.
If so, you need to learn exactly what you are
getting for your money. Here are some tips for
purchasing a car:
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