Other major expenses
In addition to buying a home, other major expenses may occur in our lives.
Whether it's furnishing a home, starting a family, buying a car, planning a wedding or a major trip – the financial challenges we encounter are many and varied.
If you are considering a big purchase, the first question to ask is whether you have enough money to cover it. It usually makes sense to save money until you can afford the purchase from your own funds. This is particularly advisable for consumer goods. Sometimes, however, we cannot wait or don’t want to. In such cases, renting or leasing may be an option, especially if you only intend to use an item for a limited period of time. If you still want to buy, you will need to consider external financing: Various types of loans are available, and they come with different loan costs. Loan costs should definitely be taken into account, to avoid over-indebtedness further down the line.
