Most of us are impulsive buyers, and most of us are actually plagued by this. We’re sure you can all admit that you hardly think before you buy, unless of course it is a big decision like a house or car. But even then we tend to push the important things to the backs of our minds and focus on the task at hand, what looks good and how much it is going to cost. But nearly everything major that we buy comes with implications somewhere down the line, and that’s what we’re going to talk about today. We’re going to discuss some of the big things you might purchase in your lifetime and what you should be thinking about before you buy.
Again, a thing that people buy because they look the best rather than the ones that are most practical. The result of which can be really damaging to finances, especially if you’re going for something that’s on finance. We would always suggest buying a car outright, but if you are going to get a finance car, make sure you’re going to get the best deal with the lowest APR. Secondly, you need to make sure you’re protecting yourself against future damage or faults of the car. They can be so expensive when you least expect it. An extended drivetrain warranty would be perfect for covering all major areas of the car. Any other areas don’t usually cost as much to fix, and they don’t tend to break as easily. You should also think about what insurance you’re taking out and how you can get that down. When your first start driving, you know how expensive it’ll be, but things such as the amount of miles you do, what time of day you’ll drive it, and where you’ll leave it can make it hard for it to come down by much. Make sure you’re being honest, just shop around to make sure you’re finding the best deals.
A house is one of the first major moves you’ll make in life, whether it be moving on your own our moving out with a partner. With it comes big responsibilities that a lot of people forget about in the whirlwind of actually buying the home. The first thing you need to think of is the price of living in the home, some people often underestimate. There are websites that now allow you to calculate the total living costs which you should always do before buying. You also need to factor in anything that could potentially go wrong in the future. For example, loss of a job, relationship break ups, inflation. Go for the most affordable house rather than the one that looks the best. Always use comparison websites to see what companies will offer you the best deals in terms of your household bills as well. A lot of companies are set out to get the most money from you.
Hopefully now you will understand why it is important to think before you buy, with anything in life, not just these two major areas.