Saving for a large purchase

Buying a big-ticket item on credit can add up to be significantly more expensive than paying cash: Saving the money beforehand is usually a more efficient strategy.

Keep in mind:

Determine how much money you'll need
Set a savings timeline
Create a schedule that matches your cash flow
Establish a separate savings account

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Easy ways to save on everyday expenses

Find out about little changes—and a few bigger ones—that can put some cash back in your wallet.

Tips for saving for a large purchase

If you're planning to buy a big-ticket item, it's a good money habit to have a plan to pay for it.

How to set a budget & stick to it

Whether it's something you need or something you want, creating a budget can help you keep your spending in line to help you pursue your goals.

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Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

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