It might be tomorrow. It might be a year from now. Or it could be 10 years away. Someday, you will want to make a big purchase that you’ll end up paying for over time. It could be a cell phone with a monthly service plan; a new car, which comes with loan payments; or even a new home, which includes a monthly mortgage payment. By earning this badge, you’ll understand the long-term impact of making a big purchase, and how you need to be prepared to keep paying for it long after you’ve started to use it.
1. Compare costs and options
2. Conduct consumer research
3. Calculate the long-term costs
4. Investigate ways to find better deals
5. Create a savings plan for a big purchase you’d like to make
When I’ve earned this badge, I’ll know how to research and budget for a big purchase for myself or my family.