PORTSMOUTH, Va. (WAVY) - One of the questions most people make when thinking about a big purchase is "can I afford this?" But what does that mean when it comes to your financial "big picture?"
Chris Jones, Financial Analyst from BayPort Credit Union, was on the show to explain what affordability means.
Sometimes basic financial concepts can be more complicated than they appear on the surface. A better understanding of these concepts can help us better control our spending habits.
-Not a simple question of "Do I have enough money for this?"
-Know your short-term and long-term goals
-Every time you say yes to something, you're saying no to something else
-Can I afford this item, if it might challenge my preferred financial future?
For more smart spending advice, stop by any of the 15 BayPort Credit Union locations across Hampton Roads.
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