Be Smart When Buying Big Ticket Items

Try saving cash/change in a jug- it adds up fast

As a college student at the age of 21, I really haven’t had to buy too many “big ticket items.” When I was in high school, I babysat and saved up $100 for my first iPod and in college I bought a $100 GPS. Other than those two items, I really haven’t made too many huge investments. Looking ahead to the future though (44 days until graduation), I know that I will soon have to start saving up for things like furniture, electronics, and of course bills.

Who doesn't love an old school iPod?

Luckily, throughout my childhood and teenage years my parents have taught me the correct way to save up and prepare for a big investment. My mom has always told me to ask myself before I buy something expensive: “Will you still want this item in six months? How about in a year?” If the answer is yes, then you should probably go for it.

The other important factor to remember when investing in pricy merchandise is that the item you want to buy may be sold at many different stores. If this is the case, it is definitely wise to shop around and find the best deal. A big ticket item should never be purchased on impulse. It is completely fine to take some time think things through and look around.

Another pointer for those who are looking to buy something expensive is to try to find out when the best time of year is to buy that item. For instance, the best time to buy a big screen television would be in February (before the Super Bowl)…not in July, when mostly everyone is spending time on vacation (outdoors). If you’re still in school, don’t forget about tax free weekend! The dates are different depending on the state you live in, but they are typically in August.

At some point in our lives, we will all have to make some investments. As long as we keep these pointers in mind though, they shouldn’t break the bank.