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Published On: Sat, May 12th, 2018

4 Major Life Purchases and Thoughts Behind Them

In your life, you’re going to have to make major purchases. Some people get anxious about this. Other people get excited. But the one thing that you want to avoid is making a major life purchase on an emotional level without thinking about how it works on a practical level as well.

Some of the large purchases in your life are going to be buying a car, buying a house, putting money into your education, and theoretically and financially buying into a company. Each of those situations may require a lot of money, a lot of time and effort, and a lot of patience and energy.

photo/ mohamed Hassan

Buying a Car

When it comes time to buy a car, there are a crazy amount of details that you have to look into. You have to figure out how much money you have and are willing to spend. You have to figure out which features are a priority – it may be safety or gas mileage or look in performance. You have to decide how much you can pay for gas over time, and how much insurance you can afford. All of these numbers are eventually going to coalesce into your final purchasing decision.

Buying a House

Then there is advice for buying a house. If you ever talk to rich people, those say that one of the reasons that they find so many people end up in debt is that they buy too much house. Just because you can get a loan to make a down payment on a house that’s a certain size doesn’t mean you have to purchase it. You can buy less than you can afford, and that gives you more money to work with for upkeep, maintenance, and all of those other details like bills and taxes.

Buying an Education

One of the ways that you can get ahead in life is if you get an education. But that education does not necessarily come cheap. In fact, financing your education may cost more than almost anything else that you do in your life. It’s a good thing that there are loans available for you to get, but then paying off those loans once you get out of school can definitely be an overwhelming event. Particularly if you don’t get a high-paying job right out of school, it may be many years before you can chip away at that debt.

Buying Into a Company

And finally, there’s the idea of buying into a company. You can do this by purchasing stock. Or, you can support a company by attempting to get a job with it! If you think your time and energy would go well with the certain companies work ethic, then that in effect is a major purchase. You are spending your life energy and passion on a professional goal.

Author: Anna Johansson

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