Investing In A Costly Purchase? Financial Products And Techniques To Help Spread The Cost

When shopping, it’s easy to think that price is the only factor you should be considering, but in many cases paying more money for a product can mean saving money in the long run.

In many instances, investing in an expensive version of an item, such as a quality piece of clothing, vehicle or device can mean that you have to repair it less frequently and can enjoy it for longer.

The challenge this approach poses is that you need to pay a more significant amount of money upfront than you would if you bought something cheaper.

Financial products and money saving techniques can help you to fund your purchases and allow you to enjoy the benefits of buying high-quality goods. Check out these tips to help you invest in high-end products today.

Investing In A Costly Purchase? Financial Products And Techniques To Help Spread The Cost  - luxury goods image

Compare Prices

Expensive purchases are an investment, so you’ll be expecting to pay a lot of money. However, you can sometimes save money by checking out how much the same item costs elsewhere. Review a selection of verified sellers to see if they can offer you a deal or a lower price. You might be lucky enough to save a considerable amount of money on your purchase, while still enjoying the same quality product. Some sellers may also be able to offer you a deal, such as free minutes with a mobile phone purchase, or free shipping on a designer clothing order. Take the time to review all of the options you have before you decide to purchase from a retailer so that you know you’re getting the best possible price.

Consider A Loan

If you’re buying a particularly expensive product, such as a high-specification piece of technology, a new car or an educational course to help you excel in life, then you might want to consider spreading the cost by taking out a personal loan. If the purchase is for your business, then you could consider a long-term business loan. This article explores the benefits of a long-term loan over a short-term one, and whether or not this option will be beneficial for your organisation.

Ask About In-House Financing Options

For some large purchases, such as expensive mobile phones or cars, merchants offer financing deals to help you afford the high upfront costs. Review these options in detail to make sure that they have a low interest rate, and offer you enough time to pay off the cost of the purchase. In some cases, you may be able to get a good deal when you finance your purchase through the seller, but it’s important that you examine the details before you commit.

Learn To Negotiate

Negotiation isn’t always an option, but for some purchases, such as vehicles and mobile phones, retailers have the flexibility to give you a deal, so you should try to haggle to get the best possible price. You might not reduce the cost by a large percentage, but with a high-value purchase, any money you can get taken off the price is worth it. Haggling successfully takes skill and confidence, but the results will be worth the effort, so take the time to learn negotiation tactics before you start.

Go Into Your Overdraft

If the amount of money you need to fund your purchase can be repaid quickly, then consider putting the cost on your debit card and taking your account into your overdraft. If you have an account with a low rate of interest on overdrafts, or you’re able to get a free overdraft for a set period of time, then you can simply pay back the money before you have to pay any interest. As such, you’ll be able to finance your purchase without paying any interest and make the most of your bank account.

Find A 0% Credit Card

Putting a major purchase on a credit card might seem counter-productive, as if you don’t pay it off you could be left with a severely damaged credit rating. However, if you find a 0% interest card and are able to pay off the balance promptly at the end of every month, then you’ll save money in the long run and actually be able to boost your credit rating. As a result, you’ll be able to fund your purchase and keep a good credit rating, all without having to pay hefty interest rates.

Financing an expensive purchase can be a challenge, but by investing more money into a high-quality product, you will save money in the long term on repairs and replacements. The most important factor to consider is the terms of the agreement when signing up for a financial product to pay for your purchase. Review all of the options available to you and select the one that best meets your needs and gives you the lowest possible rate of interest, so that you spend less and enjoy your product more.

How An Investor Could Get Through Corona Virus Markets

Ok, so Corona virus has hit us hard in so many places, and it has certainly made the investment market very wobbly. If you’re someone who has investments in the markets and are being affected by what is going on at the moment it can seem like a bleak, uncertain and unnerving time. But, what exactly are you supposed to do to get through this difficult time?

How An Investor Could Get Through Corona-Virus Markets - computer screen stock market image
Photo by Lorenzo from Pexels

Let’s have a look at some of the thing you can do during this uncertain time: 

Don’t Do Anything

So, the value of your current portfolio has already declined. One option you have is to do nothing, if you sell now you are converting your paper losses into real ones. 

Stop Constantly Checking 

We all know that times are bad for investors at the moment, and constantly checking the value of your portfolio isn’t going to change that. Turn off your notifications, it’s probably already too late for you to change anything now. You might make a bad situation even worst if you keep looking, you might feel forced to sell when you shouldn’t from nerves and anxiety. 

Stick With Your Plan 

If you already have an investment plan in place where you use tools like MetaTtrader 4 for mac, stick with it. Try to keep investing as you normally would. For example if you have money that goes into your retirement plan every month or two weeks continue to do that. 

Remember To Stay Calm

You need to remind yourself to think like an investor, just because time are uncertain at the moment doesn’t mean you should jump if the market jumps or falls dramatically. Especially if it’s happening over a day or the course of a week. You need to think rationally and leave your emotions behind. It’s much better for you to sit back and ride the storm, wait until everything calms down before you make any significant decisions. Remember you can never pick the market bottom or turnaround and just jump in. You need to fight the impulse of thinking this is good. 

If You Feel Like You Have To Do Something 

If you get the feeling you really, really need to do something, try to use this as a learning moment. If you keep hold of individual stocks, you can take the opportunity to review those holdings and review what could have happened with them. 

This may all fall on deaf ears, especially for those who want to use this crash as an opportunity to buy low and sell high. Using this time as the buy-low opportunity. If you absolutely have to buy in the current market make sure it is in a rational and disciplined manner, think about how much you can risk losing as this is only the beginning and things could get worst before they get better

Do you have any other tips that you could share in the comments below?

Eliminating Financial Stress In The Future

If ever there was a time that demonstrated the uncertainty and unpredictability of life, it’s now. Even if you’re young and you’ve got a stable income, it’s beneficial to start planning now to reduce financial stress in the future. Here are some steps you can take.

Eliminating Financial Stress In The Future - savings and money growth image


With many people facing a very uncertain few months ahead, the benefits of saving cannot be underestimated. Budgeting and putting money aside can help to prevent overspending and create a nest-egg. If you don’t already save money on a monthly basis, it’s a good idea to set up a direct debit on your payday. If you can afford to put even a small amount of cash aside each month, this will help to create a more stable, secure future. Use budgeting techniques or apps to work out how much disposable income you have in an average month and save whatever you can. If you transfer a lump sum as soon as you get paid, this will enable you to plan the rest of the month and reduce non-essential spending. 

Retirement planning

If you don’t plan to retire for another 30 years or so, you might not think that you need to worry about pensions or investments at the moment. The truth is that the sooner you put plans in place, the better. If you don’t have a pension already, or you’re unsure whether your current pension is the best option for you, it’s worth seeking advice. If you’ve already taken out a pension, and you’re concerned that you have been misled, it is wise to investigate SIPP pension claims. To avoid finding yourself in this situation, if you haven’t already got a pension, research before you sign on any dotted lines and don’t hesitate to ask for help if you’re not sure which product is best for you. 

Creating an emergency fund

You only have to read the newspapers or listen to the headlines to see that a bolt out of the blue can cause financial problems for anyone. Even when life seems to be rosy, nobody knows what is around the corner. Having an emergency fund will provide peace of mind and financial support if you do find yourself in a difficult situation. An SOS fund could help to cover you if your hours were cut at work, you lost your job, you had an accident, or your home or car needed urgent repairs. Start saving on a regular basis and look out for savings accounts that offer high interest rates or the ability to save on tax, for example, an ISA. It’s also worth ensuring that you have insurance policies to protect your home, car and family. If you have insurance, this can cover unexpected costs and reduce anxiety linked to money problems. 

Nobody has a crystal ball, and you never know what the future holds. Taking action to manage your finances and start saving, and planning for the future now will be beneficial in years to come. Try and save more each month, take advice from experts on board and plan for your retirement. 

You’ve Inherited A Lot of Money – Now What?

When a loved one dies, some of us may expect to inherit money. This could be money tied up in property or funds in a bank. Some of us struggle to know what to do with this inheritance – should you invest it, and if so where? Below are just a few tips on how to handle money that you have inherited.

You’ve Inherited A Lot of Money – Now What? - piggy bank image
Piggy bank image pixabay

Don’t spend it all straight away

There’s nothing stopping you from splashing all the money straight away. After all, it’s your money. However, you may want to consider all the choices that you have rather than splurging half of it on an impulsive shopping spree. It could be money to spend on travel or it could be money to spend on a down payment on a home. Compare all your options before spending your money.  

Find out if you have to pay tax on your inheritance

In the case of large amounts of money, you may have to pay inheritance tax. The exception is money that was given to you before your loved one died – this could be money left in a trust or even a property that was transferred over to your name before your loved one passed away. If the money is liable for tax, it could be important that you pay this tax first before spending it all.

Prioritise paying off your debts

If you have debts, it could be sensible to pay these off with your inheritance. It may not be as exciting as using the money for other purposes, but it will save you a lot of money in the future, possibly giving you a lot more disposable income to use. Paying off debts could be particularly necessary if you’re falling behind on payments or it’s affecting your credit score.

Get professional advice when investing

There are many ways you can invest your inheritance from savings accounts to stocks and shares. It could be worth getting professional advice using a service such as Equilibrium so that you can find the best place to invest these funds. After all, you don’t want to gamble away this money or put it in the wrong saver where it may only accumulate minimal interest.

Give money to family and friends

There may be family members and friends that can benefit from the money you’ve inherited. For instance, you may have kids that you can give the money to. If there was conflict within your family, realise that some people may have been deliberately left out of a loved one’s will – if you share your money with these people, realise that it may be going against your loved one’s wishes. That said, it is your decision how you spend your money.

Consider giving some to charity

 If you’ve inherited a lot of money, you may feel like giving some to charity. This could be a charitable cause that you feel strongly about or a cause that affected your deceased loved one (a great way of honouring them). Take your time to compare charities that are out there using sites like Charity Choice. You may even consider setting up your own charity if you inherited a particularly large amount of money. 

Steps To Take Before Selling Your Home

Whether you’re keen to move around the corner, or you’re thinking of upping sticks and relocating to a different city, county or country, it’s wise to plan ahead if you’re selling your home. Unless you find yourself in a situation where you need to sell unexpectedly, it’s worth taking a few steps before the for sale sign goes up. 

Steps To Take Before Selling Your Home - property investing real estate family home image
Bildet er tatt av Paul Brennan fra Pixabay

Sprucing up your property

If you’re preparing to put your house on the market, it’s natural to want to get the best price. Before you invite agents around, or start taking photographs for galleries and brochures, take a tour of the property, note down any jobs that need doing and give your home a spruce. Simple things like freshening up the paintwork, fixing broken doors and cleaning the windows can make a huge difference. It’s also a great idea to clean and tidy up and to declutter.

Many people will judge properties based on aesthetics and the images they see when they look online. It’s also important to note that your home will attract attention when there’s a for sale sign up outside, so enhancing curb appeal is a good idea. Paint the front door, add plants or a hanging basket to make the property more welcoming and tidy up the driveway and front garden.

Choosing an agent and exploring selling options

When it comes to selling your home, there are several crucial decisions to make, including how you’re going to sell the property and which agent you’re going to choose to market your home. Most people sell through estate agents that manage viewings and the negotiation of offers, usually over a period of time, but auctions are becoming more popular. If you’re keen to sell quickly, or you want to maximise your chances of getting a good price and wrapping up the transaction without any ups and downs and unexpected turns, you might be interested in considering an agents property auction. Some agents deal with auction properties, as well as traditional sales. If you are thinking of selling your home at auction, it’s important to think carefully about setting a reserve. Whichever method you choose, it’s worth doing some research into house prices in your local area and asking a series of agents to provide you with a valuation. The valuation will not dictate how much you get for your home. You might find that there’s a significant difference between the valuation and the offer price, especially if the supply of houses outweighs the demand in your neighbourhood. 

Putting future plans into place

If you’re looking to sell, it’s wise to think about and plan your next move. Selling houses can take months, even years, but in some cases, the entire process can be completed in 6-8 weeks. If you’re thinking about buying property, figure out a budget and start searching for houses that match your criteria. If you’re toying with the idea of renting, contact local agents, arrange some viewings and create a short-list. 

Before you put a for sale sign up outside your home, take these steps. Hopefully, they will lead to a quick, seamless, stress-free sale.