Saving for Assisting a Family Member
By Michael Demner
How to help a family member make a large purchase
It can be difficult to help a family member make a large purchase. You may feel like you are being too pushy or that you are not doing enough to help. Here are some tips to help you through the process:
1. Talk to your family member about their plans. It is important to know what they are looking to buy and why. This will help you understand their needs and budget.
2. Research the item they are interested in. Once you know what they want, you can start looking at different options. This will help you find the best deal and get an idea of what features are important to your family member.
3. Create a budget with your family member. This will help them see how much they can realistically afford to spend on the item. It is also a good way to keep track of their spending. If they need your assistance, work out how much is reasonable for both of you and develop a savings program for your financial assistance.
4. Help them compare prices and options. Once you have found a few options, it is time to start comparing prices and features. This will help your family member narrow down their choices and find the best option for their needs and budget.
5. Offer your opinion when asked. Your family member may ask for your opinion on certain aspects of the purchase, such as whether or not they should buy extended warranty coverage. It is important to give your honest opinion, but remember that ultimately the decision is up to them.
6. Help them make the final decision. Once your family member has decided on an option, help them complete the purchase process by providing any necessary information or paperwork. This includes things like warranties, receipt, and user manuals.
7. Follow up after the purchase. Once the purchase is complete, make sure to follow up with your family member. This includes making sure they are happy with the purchase and that they understand how to use the item properly.