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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.

Link to video Easy ways to
save on everyday
expenses

Find out about little changes — and a few bigger ones — that can put some cash back in your wallet.

Tips for planning an affordable vacation

Find ways to save by being smart about flight and hotel discounts, meal costs and more.

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?
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