Need advice!

iVillage Member
Registered: 10-12-2005
Need advice!
11
Fri, 03-03-2006 - 9:32am

I got my tax return last week, and I haven't paid any bills yet, but I have a plan for the money. Then the unthinkable happened. My TV died! I only have one TV and it sounds pathetic, but it's my lifeline. It's the one luxury I give myself.

I can afford to buy a new TV with the tax money I have with some left over, but I was thinking of going to a place like circuit city that have specials where if I qualify I can get 0% and pay it off slowly. Here is my thought: get the 0%, pay off half with some of my tax money, and then use the rest of it to go towards higher interest debt. What do you think?

I like to do alot of research on big purchases like this, but I just don't have the time!

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Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
In reply to: kermit_48093
Fri, 03-03-2006 - 10:09am

While the 0% offers for "stuff" seem like a good "deal" - I really don't think that they are.

All my best,
Danni

iVillage Member
Registered: 09-22-1999
In reply to: kermit_48093
Fri, 03-03-2006 - 10:19am

I agree with Danni! Pay for it, and you won't have to worry about more payments to a new debt source.

Littlesbigs

iVillage Member
Registered: 03-31-2003
In reply to: kermit_48093
Fri, 03-03-2006 - 10:51am

I agree w/ Danni and littles, but personally (this is just me) I would buy the cheapest tv I could find FOR NOW (I'm talking small, kmart/walmart/under $100, maybe even B&W, LOL), pay cash, and use the rest of the return as planned to pay down debt. Then you could immediately start a savings fund for a better tv and take your time to comparison shop.

BK




iVillage Member
Registered: 01-25-2006
In reply to: kermit_48093
Fri, 03-03-2006 - 11:52am

I tend to agree to pay for what you want today, today but I wanted to throw out one more suggestion. Is there any chance you could borrow a tv from someone for a week or 2 so you could think about this, do your research and then make a purchase less in the heat of the moment? I know I have a small tv in my bedroom that I would gladly loan to a friend in this situation and for a looonnnnggg time I had an old tv that worked in my basement that someone could've had until it finally gave up (I finally stopped waiting for it to give up and bought a new one when I moved but it was fine...just didn't have a perfect picture in the corners and wasn't cable ready). I eventually recycled it but you might find something. Oh, one option would be to post on your local freecycle.org group. That's the sort of thing that works really well there. Heck, you might find something that works just find.

Good luck! I understand the dilemna and can definitely make the argument both ways because of the interest difference but it depends on what your ultimate goal is. If it's a debt free lifestyle, it might be time to put your money where your mouth is (quite literally!).

Peg

iVillage Member
Registered: 10-12-2005
In reply to: kermit_48093
Fri, 03-03-2006 - 12:43pm

I knew that when I came on this site I would hear what I needed to hear! :) The bills will always be there, but if I can pay $$ for this, I should. I've done as much research as I can, and asked a friend for some advice (he just bought all new electronics in his house - power surge destroyed everything!) and I think i've found what I think is the best deal for my money. I'm going to go wandering tonight and tomorrow and see if I can even haggle down the price a little and see what happens.

I think of it this way, at least I have the cash now to do this instead of 3 months from now and I have to charge it!

iVillage Member
Registered: 03-27-2003
In reply to: kermit_48093
Fri, 03-03-2006 - 1:26pm

I think that's an excellent decision. It feels SO GOOD to pay for stuff in cash. I am addicted to it now! LOL I feel so proud when a salesperson tells me not to worry about cost because they have an easy payment plan and I can say, "Oh, no thank you. We pay for everything with cash." LOL And it is true that I am absolutely, positively, WAY more careful what I spend my money on when it's cash. It's so easy to get carried away feeling like we "deserve" this or like something is a "good buy" when it's "fake" (i.e., credit) money. But when it's cold hard cash that we could be using for other purposes... it gets a lot more serious.

Anyway, I'm so glad you heard what you needed to hear. I think you're doing the right thing. And don't feel guilty about treating yourself. You've got the cash, so use it to do what feels important to you. You will pay the debt off eventually as long as you continue to always pay things in cash. It might take you longer without this extra infusion of cash, but it will get done eventually.

Blessings,

Heather

iVillage Member
Registered: 10-07-2005
In reply to: kermit_48093
Fri, 03-03-2006 - 3:51pm

Have you ever thought about going to a pawn shop? Or looking on craigslist or ebay? Ebay might be a little riskier, but the other two at least you can check it out. Have you checked to see what is wrong with your tv? The repair might be cheaper than a new one. Ours died and we only paid about $100 for a new tube. A lot cheaper than a new tv!

Michelle

iVillage Member
Registered: 07-23-2004
In reply to: kermit_48093
Sat, 03-04-2006 - 1:06am
My daughters' tv just went. I was able to pick up a 20 inch color tv at circuit city for 95.00 plus tax. It is an older model, but it does the job. I know they were having a big sale on "open box items" at the same store, but they had no cheap tvs. Maybe one of the stores in your area has something similar...HTH
~Dawn

 

iVillage Member
Registered: 02-19-2006
In reply to: kermit_48093
Sat, 03-04-2006 - 6:18am
You might try resale stores, flea markets, the free classified ad paper you can pick up at the gas station,Good Will,Salvation Army, whatever like that in your area.
iVillage Member
Registered: 10-12-2005
In reply to: kermit_48093
Sat, 03-04-2006 - 4:18pm

Thank you all so much for the advice! I did what everyone suggested, and payed cash. It felt so good to do that! It was definitely a motivator for me.

I didn't spend too much and I was able to haggle down the price another $200! It's not a a huge TV but it will serve it's purpose and I barely touched my money. :) I was just shocked that the guy dropped the price. It's amazing what a little bit of confidence will get you!

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