How to Save Money for a Major Purchase. A major purchase such as a house, car or household appliance can be a distressing hit to your checkbook. Budgeting and saving for the purchase can often ease the pain.
Things You'll Need
- Piggy Banks
- Credit Cards
- Savings Accounts
- Personal Financial Software
Identify the purchase you want to make.
Estimate what it may cost by looking at similar products.
Determine when you want to make the purchase.
Determine how much money you want to pay at the time of the purchase and how much you want to finance, either on your credit card or through the seller.
Commit yourself to saving a set amount of money each month, either in a savings account or some other safe account, so that you will have enough money to make the purchase at the predetermined time.
Be diligent and patient - your savings will accumulate.