How do you plan and account for big purchases? I mean things that you wouldn’t generally spend month-on-month. For example, I’m thinking of a robotic vacuum, a Peleton, etc and it’s a lot of money to be able to “afford” all of a sudden

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0% financing on peloton helps (especially, if you have a wellness reimbursement of some kind)

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Create a “sinking fund” for each item you’re planning to buy.

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If there’s no financing ppl often put it on credit cards or pay from their savings. How much is a robotic vacuum? Outside of Peloton there’s a big BNPL market, take advantage of that (afterpay, quadpay, PayPal in 4, etc).

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I put a small amount (e.g., $100) from every paycheck to a dedicated misc acct for such expenses. It helps me decide whether I can afford sth: if I have enough in the misc acct to pay cash for it, I can afford this

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1. Never finance these kind of expenses
2. Save for them by splitting your monthly savings or investing your monthly savings so your money can make more money by itself
3. Buy used to cut cost
4. If possible try it at a gym before purchasing so you are sure you are going to use them and it is not just another feel good purchase

Never heard of anyone becoming wealthy because they could borrow at 0%. A loan is a loan at the end of day. You take it because you want something you can't afford otherwise.

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