Reply With Quote
I don't disagree PM5K, I just keyed on the whole TV thing. To me, financing "big ticket" items is an unfortunate evil, but is necessary. But, small things, that aren't really necessary, are a luxury rather than a need.
If that were the case then you wouldn't have to finance a television.
I don't disagree PM5K, I just keyed on the whole TV thing. To me, financing "big ticket" items is an unfortunate evil, but is necessary. But, small things, that aren't really necessary, are a luxury rather than a need.
Lord, use your CC however you like. If you can't pay the balance off completely in a few months, don't buy it.
Oh, and financing a new car is probably one of the worst things you can do with your money...
How do you get your cars, steal them? Race for pink slips?
I agree, maybe others would rather finance a new washer and dryer, or a new fridge, or stove, but I already have all of those items and all of them are less than one year old, so if I want to buy a tv, it's my prerogative....
yes its mostly something done by people living paycheck to paycheck, most people arent intelligent when it comes to money.
the debt on a smaller item for a short period of time is not always out of this world.
i'm just saying that sometimes one doesnt have the liquid funds necessary to purchase said television and dont want to wait until the liquid funds become available and are willing to pay the interest on said item because they have a good rate and the amount paid wouldnt be outlandish to said person. thats why being able to pay something same as cash over a period of 90 days or what not is nice, its still credit though. its not the norm overall but its possible.
thats why its not usually a good idea to use words such as never and other similar qualifiers.
He probably gets them used, maybe one year with less than 15K miles on them, and saves a ton...
Ain't that the truth...thats why its not usually a good idea to use words such as never and other similar qualifiers.
most people cant afford to plunk down 20k for a new vehicle.
Of course it's your perogative Bobby Brown, however it isn't the wise financial move to purchase wants with credit unless you have the money to avoid interest payments.
Of course by all means a responsible adult should be able to use their credit to purchase whatever they deem worthy and I never meant to imply otherwise.
Why not, my needs are already taken care of, why not take care of my wants?
Wise? Who are you to say what's wise for me? You don't know anything about my financial situation and I'd imagine that most people who do would say that I have made wise moves financially...
You just got yourself something free on my Chase Platinum Mastercard...
ing not
I think most people would be (financially) better off not purchasing a new vehicle. Seriously, this is one place where people usually go way outside what they should spend on a item according to their finances.
Let's not get into semantics, but for future reference in this thread assume that I'm talking about general rule of thumb. If you want to get completely realistic you could find a place pretty easily that will sell you the television and finance for no interest in the first few months, so that is probably what people living paycheck to paycheck would do, if they were wise.thats why its not usually a good idea to use words such as never and other similar qualifiers.
Simply due to the deprecation of said new car I assume?
Thats a factor, but really people just spend far too much on cars to begin with. Someone making 30k a year shoudln't purchase a vehicle that is 2/3rds of their annual income yet you see it happen all the time.
what about someone purchasing a car that is 1/3 of their annual income? Still bad to finance?
So you think a 20K dollar car financed over five years is too much for someone making 30K a year?
I'm not saying I disagree, just asking...
btw for someone making 30k a year, what should be the upper limit for said mortgage?
oh and i think renting is the stupidest thing you can do for what its worth, since we want to lay out personal philosophies out there.
Because if you can't afford the television, or whatever other large or small item wants you are after, you save up an buy it then. Aside from paying for the intrest attached to these items, you have no idea what needs will arise in your life between the time you put it on credit and the planned time of full payment. Medical, transportation, house related, or whatever would take presidence over payment of these wants. So when these needs arise, guess what happens? That's right the wants stay on your card collecting interest while you pay off teh needs that arrose. And don't act like needs don't arrise out of nowhere, because they do all the time.
All taken care of, I keep money in the bank for things like that, and I have payment protection on my credit cards, well the ones that I use...
My cars have been 2-3 years old when purchased, though recently I've turned to leasing.
So if the transmission went out on your car and you broke your leg and had to miss some time at work within say two weeks on each other, you would be completely covered? If that is the case you wouldn't need to finance a television.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions