Five Steps to Prepare for a Big Purchase
A financial journey typically includes several twists and turns – such as understanding how to manage spending, build savings and control debt. There might be “speed bumps” in the form of unexpected changes in income. Along the way, you might also navigate milestone purchases such as financing a home or car.
When considering a significant purchase, the destination is within reach when you steer through the following five financial steps.
1. Look at your financial picture
2. Check your credit score and report
3. Figure out financing
4. Plan the purchase
5. Make the deposit
The Journey Ahead
While not an exhaustive list, these steps help prepare for the financial road ahead.
As you travel along your financial journey, take advantage of financial counseling and guidance provided by the trusted national nonprofit GreenPath Financial Wellness.
This article is shared by our partners at GreenPath Financial Wellness, a trusted national non-profit.