The document provides guidelines for making major purchases on a budget, including researching options, getting multiple quotes, focusing on long-term value rather than lowest price, and saving up over time rather than spending impulsively. Key recommendations include taking time to evaluate a purchase thoughtfully against your needs and values, being able to walk away if unsure, and saving a set amount each month in a separate account to afford larger discretionary items.

1. Shopping on a Budget Part 2: Major Purchase Making Ends Meet Series

2. Goals of Shopping Necessity Have utility  useful Thoughtful  researched and evaluated in terms of personal factors (values) Be proud of your purchase No regrets of purchase Sound decisions are healthy decisions

3. Guidelines for shopping wisely Value  Lowest/highest Cost Buy things that will be useful, meaningful and lasting  Value Don’t buy clutter Unless it is a necessity, take time to talk yourself out of it. Know the return policy of store

4. Guidelines for shopping wisely Find at least three quotes before buying  know what is a realistic “ballpark” price of object Have a life cycle of the object  know how long you want it to last. Write down the features you want before buying  do not get “oversold”

5. Guidelines for shopping wisely Be able to walk away from buying it  see how you react to not buying the object. (unless a necessity) Research the products before buying (Internet, magazines, word of mouth) Know the product; do not buy on irrational expectations

6. Guidelines for shopping wisely Be focused, do not get distracted by impulsive buying  everything can wait Stay within your means – do not spend outside your budget Take your time, do not be pressured to buying without a thoughtful analysis of the purchase Do not spend more money on transportation than on the money you will save

7. Saving to buy Make “payments” to a bank account to save for purchase Be focused on putting aside the same amount for each month towards the purchase Do not touch the money unless you have changed your mind Do not go “reward” shopping after taking the time to save

8. Internet Exercise Take one of the three purchases you want in the next two years and find three quotes on the Internet Do you really want it? Can you live without it? Do you want to save the money? If you really want it, make a plan to buy it in one year.