Affording Major Expenses

Buying a Vehicle

Most likely, your vehicle is one of the important tools in your life. That's why it's so important to find the right one for your budget and particular needs.
 

• Use online resources to research vehicle values, analyze safety ratings and read reviews
• Get prequalified through Buckingham Private Investment Bank to know how much you can borrow
• Take a look at your monthly expenses to make sure you get a loan that fits comfortably within your finances

Purchasing a Home

• Consider hiring a real estate agent to aid in your search and always ask questions
• Conduct online research about the neighborhood, local school system and other features
• Avoid becoming too emotionally attached to a particular home

Renovating a Home

• If you need to find a contractor, get referrals from trusted sources
• Make sure you understand all of the details in the proposal, including costs and timeline before signing
• Don't be afraid to ask questions; after all, you'll be living with the final results and final bill
• Consider using your home's equity to finance your renovations, whether it's a line of credit you can access over time or a lump sum loan when you know exactly how much money you need

Planning a Vacation

• Get a general idea of the cost of your vacation
• Analyze your finances and see how much extra money you can set aside each week
• Stay disciplined and make regular deposits into a savings account designed specifically for your trip

Paying for College Education

• Consider state-sponsored college savings plans that can provide tax advantages
• Look for other savings options that offer good returns and possible tax advantages
• Maximize all of your scholarship, grant and federal student aid options

Preparing for the Unexpected

• Consider setting a savings goal of six months worth of living expenses, which can help you absorb job loss and other big changes
• Find savings options that pay the highest rates and let you access your money when you need it
• Contribute to your emergency fund on a regular basis to keep it growing steadily