How to plan for a big purchase
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
How to plan for a big purchase
Making a big purchase, such as buying a home or a car, can be a significant financial decision. It’s important to plan for it in advance to ensure that you are able to make the purchase without putting yourself in a financial bind. Here are some steps you can take to plan for a big purchase:
Determine your budget: The first step in planning for a big purchase is to determine your budget. This includes determining how much you can afford to spend on the purchase, as well as how much you can afford to pay in interest and other financing charges. Be realistic and conservative in your budget, and make sure to take into account all of your other financial obligations.
Save for a down payment: A down payment is a sum of money you put towards the purchase of a big item, such as a house or a car, that can help lower the amount you need to borrow and the interest you will pay. Saving for a down payment in advance can help you purchase the item sooner and avoid high-interest loans.
Research financing options: Researching financing options is an important step in planning for a big purchase. Look into different types of loans, such as a traditional mortgage or car loan, and compare the terms and interest rates. Make sure to shop around to find the best deal.
Improve your credit score: A good credit score is important when applying for a loan. If your credit score is low, take the time to improve it before you apply for a loan. Pay off any outstanding debts, and make sure to pay your bills on time.
Calculate the total cost: When planning for a big purchase, it’s important to calculate the total cost. This includes not only the purchase price, but also any additional costs, such as interest, insurance, and maintenance. This will give you a realistic idea of the total cost of the purchase and help you budget accordingly.
Set a realistic timeline: Setting a realistic timeline for your purchase is important. It can help you make a plan and set realistic goals to achieve your purchase.
Consider the long-term implications: When planning for a big purchase, it’s important to consider the long-term implications. This includes the long-term cost of the purchase, as well as how the purchase will affect your overall financial goals.
Seek professional advice: If you’re unsure about how to plan for a big purchase, seek professional advice. A financial advisor or a mortgage broker can help you understand the process and guide you through it.
In conclusion, making a big purchase, such as buying a home or a car, can be a significant financial decision. To plan for it, determine your budget, save for a down payment, research financing options, improve your credit score, calculate the total cost, set a realistic timeline, consider the long-term implications and seek professional advice. By following these steps, you can make an informed decision, and ensure that you are able to make the purchase without putting yourself in a financial bind.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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How to plan for a big purchase
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