Plan your next big purchase with confidence: a guide

Big purchases are exciting, but they can also feel stressful. Maybe it’s a car, a laptop, new kitchen cupboards, or that trip to Japan you’ve been dreaming about.

Whatever it is, it’s a big decision, and it can have a real impact on your wallet and sometimes even ongoing budget pressure.

This guide will help you plan them with confidence, balance your wants and needs, and make sure your spending supports the life you actually want, not just the moment.

It’s important to know that you don’t have to avoid big purchases to be good with money.

The secret is learning how to plan for them so they work with your life, your budget, and your long-term goals.

These quick exercises from the Wealthbit Big Purchases & Smart Spending Workbook will help you decide what’s worth buying now, what can wait, and how to pay for it without throwing your plans off track.

👇 Get your free copy of the workbook below and start your big spend plan 👇

What do you want to buy?

Start by getting clear on what you want. What are the big spends you’re thinking about this year?

Write them down in your workbook and map them out so you can plan with purpose.

Let’s see if you can afford it

Some buys barely make a dent. Others can drain your savings or push your budget too far. That’s why it’s important to do at least a quick check of how big a deal this spend really is.

The table will then show you:

How much of your income this buy would take
How much of your income ongoing costs would take

Then, think about where the money will come from. Do you have savings specifically for this buy or will it affect your financial buffers, like your emergency fund?

Pick your answer from the dropdown.

The cell on the very right of the table will then tell you how big of a deal this buy would be given your current finances and what to look out for.

Next, let’s make your decision clearer with the 4Cs

Big purchases can be exciting, necessary, or a bit overwhelming all at once.

Just because you can afford something doesn’t always mean it’s worth it. This quick test helps you pause, take a step back, and see if it really fits your goals.

You’ll rate your purchase on four things:

Clarity – Do I know the full cost, the value, and what my other options are?
Consistency – Does it match my values and life goals?
Control – Can I pay for it without eating into my safety buffer or other plans? (You can read more about buffers here.)
Continuity – Will it still feel worth it in 6 to 12 months?

Score each one from 1 (not at all) to 5 (absolutely) and add them up. The workbook’s insight formula will then show you your decision confidence rating:
Low control score? You might be stretching your budget.

Low consistency score? You might be chasing someone else’s goals.

High scores? Probably a green light.

Time to take action

You’ve now thought about the cost and what it means for you. If you still want to or have to make this purchase, now it’s time to figure out the best way to pay for it.

Ask yourself:

Do I still want to go ahead?
What’s the smartest way to fund this without upsetting everything else?

How to decide on a plan for initial purchase:

Use your buffer if it’s what it’s there for and you’ll still feel secure. If it makes you uneasy, hold off.
Save monthly if you can put something aside without straining your budget.
Split the cost only if your income is steady and later payments won’t be a problem.
Wait for a windfall only if it’s guaranteed.
Delay if the urgency is low and waiting could feel better.
Not sure yet? Pause and revisit when you have more clarity.

Then make sure you plan for any ongoing costs. Check if they:

Already fit with your monthly budgets
Need reallocation from another budget item
Require you to cut something else
Require you to use a buffer temporarily
Need more time to save
Should be funded from side income

Big buys don’t have to mess up your plans. Know what you want, check if you can afford it, and choose the best way to pay.

That way, you can enjoy it now and still feel good about it later.

This tool is also used in the Financial Freedom Programme, where we help teams stress less about money and build smarter systems.