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Life Events: Saving for a Large Purchase

Life happens. Will you be ready?
Throughout your investing life, you're going to experience life events — some planned, some not — that will affect your finances.
We're here to help you prepare for those critical times of financial change.

Saving for a large purchase

Buying a big-ticket item on credit can add up to be significantly more expensive than paying cash. Saving the money beforehand is usually a more efficient strategy.
Keep in mind:
Determine how much money you'll need
Set a savings timeline
Create a schedule that matches your cash flow
Establish a separate savings account

Preferred Rewards

Saving for something special? You may qualify for real benefits and rewards on your Merrill investment and Bank of America® banking accounts.

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Short-Term Savings Calculator

See how long it could take to save for things you want in life.

Tips for saving for a large purchase

If you're planning to buy a big-ticket item, it's a good money habit to have a plan to pay for it.
Ready to get started?