Major Purchase

If you are considering a major purchase, such as a new home, boat, or dream vacation, planning can make a significant difference in managing expenses. Spend time assessing your goals and reviewing your budget to help ensure that your financial strategy is on track.

Budgeting

Plan:

• Investigate consumer reports for information on large appliances and automobiles.
• Assess the cost of the purchase and what you have in savings – review your budget to see what you can afford outright or through periodic payments.
• Review your personal finances with the Budget Worksheet.

Home purchase and improvements:

• When looking at real estate, be aware of any immediate repair needs as you budget the cost and negotiate the price.
• If purchasing a home, contact a mortgage broker to assist in finding a bank and mortgage rate that suit your needs.
• If considering home repair or renovation, investigate equity loan providers and rates.

Investment planning

Plan:

• Consider the amount of time needed to save for your goal. The length of time may influence how aggressive your investment strategy will be.
• Need investment guidance on achieving your lifetime goals? Go to Retirement & Guidance Overview.

Act:

• Consider opening a Fidelity Account^SM to start investing for this goal.
• Use the Fidelity Automatic Account Builder^® (FAAB) to schedule electronic contributions to your account based on the date and dollar amount you specify.
• Consider using Fidelity's bill payment service for your periodic payments.

Insurance planning

Plan:

• Comparison shop for home and auto rates.