We don’t go through life with anything other than expectations and hopes for our futures. Each and everyone one of us like to dream about what we want in our lives and there are milestones that we like to hit to ‘tick all the boxes’ for ourselves. The problem is, those boxes all cost a little – and sometimes a lot of – cash.
There are four major life events that most people want to achieve, and each of these has one thing in common: they’re expensive. When there are major life events ahead, we like to save up for them, but how can you do it? And what are these milestones?
First Car. Buying your first car and learning to drive is a big achievement. It’s a lot of responsibility to be on the road and in control of a vehicle and it’s also a responsibility to save for the right insurance and the right drivetrain warranty from Carchex. You should ensure that when you take on the difficulties of driving and being on the road with other vehicles that your particular car is in tiptop shape. Your first car should be one that is going to last you, so shop around and make sure that you find what you want for the price you want it to be.
Buying A House. You can choose to keep living with parents while you save for your house but consider that you should want to put a considerable down payment down to pay for your deposit. This would reduce the length of the mortgage and stand you in good stead for the banks to lend you what you need to cover the rest!
Getting Married. It’s a big day, but it doesn’t necessarily have to have a big price tag. All you have to do is learn to shop around when it comes to your wedding day and decide whether you truly need to have 300 people there for you when you get wed. Don’t be put off by the big venues and the dress costs and try not to go into married life in debt. If you cannot afford it for your day, do not buy it. It just takes a little sensibility to ensure that your day goes off perfectly.
Having A Baby. A first baby is a big step in life, but if you plan ahead you can ensure that you are not out of pocket with medical expenses and the initial costs of everything that a baby needs. If you fall pregnant unexpectedly, you can still rally; you have nine months to prepare after all. You can put other major expenses on hold to afford the baby in your life who needs your cash a lot more right now.
Life gets in the way sometimes, but there are always ways and means to make savings when you need to. Don’t be held back by your finances; if you truly want something you will find a way to get it.
