The Smart Buy: Evaluating Big
Purchases with Confidence

Thinking about making a big purchase? Whether it’s a car, a home, a wedding, higher education, home renovations, a big vacation, or even expensive appliances, these major financial decisions require careful planning. In this session, we’ll guide you through the steps to evaluate your options and make informed choices. From setting up high-yield savings accounts to building the right investment strategy, we’ll discuss how to prepare financially for large purchases, helping you make the most of your money.

You’ll learn how to weigh the pros and cons of leasing vs. buying a car, and get an in-depth look at homeownership, renovation costs, and when it makes sense to invest in major appliances. For those planning big life events like weddings or vacations, we’ll discuss budgeting and ways to save for those special moments without sacrificing your financial stability. We’ll also cover down payment assistance programs, government incentives, and other resources that can help make these big purchases more affordable.

By the end of the session, you’ll be equipped with the knowledge to confidently assess your options, maximize your savings, and decide on the best course of action for all your big purchases—whether for life’s big moments or your daily needs!

  1. Recent Pay Stubs or Income Information:
  • Bring your most recent pay stubs or details about your income so you can assess how much you can realistically set aside for big purchases. This will also help you evaluate loan affordability if considering financing options.
  1. Budget or Spending Overview:
  • A current budget or a breakdown of your monthly expenses will help you determine how much extra you can allocate toward a major purchase. If you use a budgeting app or spreadsheet, bring that as well.
  1. Current Savings Account Information:
  • Bring details about your savings, including balances in high-yield savings accounts or any specific funds set aside for large purchases (e.g., down payments, wedding savings, vacation fund).
  1. Debt Information (if applicable):
  • Be prepared with information about any outstanding debts, such as credit card balances, student loans, personal loans, or car loans. Understanding your debt load will help assess how much additional debt you can take on for a major purchase.
  1. Credit Score or Credit Report:
  • If you know your credit score, bring that information along. It will be helpful in determining what kind of loan terms or financing options are available to you for large purchases.
  1. Down Payment Information (if applicable):
  • If you’re saving for a home, car, or wedding, bring any information about your down payment goals and how much you’ve saved so far. Consider researching down payment assistance programs or government incentives that you might be eligible for.
  1. Details About Potential Big Purchases:
  • If you’re planning a specific major purchase (home, car, wedding, etc.), bring any relevant details or quotes you have received (such as home prices, car models, or wedding cost estimates). This will help you assess the feasibility and plan accordingly.
  1. Retirement or Investment Account Information:
  • If you have any retirement savings (e.g., 401(k), Roth IRA) or investment accounts, bring a summary of those to assess how these might fit into your plan for big purchases. This will also help in considering long-term financial goals.
  1. Questions or Concerns:
  • Bring any specific questions or concerns you have about big purchases, whether it’s about choosing between leasing vs. buying, understanding tax benefits, or figuring out how to manage multiple big purchases simultaneously.

Having this information will allow you to make the most out of the session, ensuring you walk away with a clear plan and actionable steps for your big purchases.

CONTACT

1345 Grace Ave.

Cincinnati, Oh 45208

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