When it comes to buying big-ticket items like a house or a car, we've been conditioned to believe that having a great credit score is the most important aspect of getting finance for these purchases. Too often, though, people forget the importance of having sufficient savings to cover the deposit and other upfront costs. If you're planning to buy a car or a house, the most important part of the transaction is prioritising your savings to ensure that you can put down a large enough deposit. There's no need to get store accounts and max them outto build your credit profile. Preparing for car or home ownership can be a good way to learn to adjust your lifestyle to accommodate the extra cost. The first thing you need to do is look at your spending and draw up a comprehensive budget. You'll discover that what you think you can afford to pay is very different to what you can actually pay. Budgeting will give you a realistic picture of, for example, the size of the car payments you can aff...

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