This Board saved me . . .
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| Thu, 04-17-2008 - 1:00pm |
From making a completely unnecessary purchase and adding $2000 (ack) to my debt!
When I moved into my house my mom gave me all her furniture since she was moving in with my aunt. Well now my aunt is selling and my mom is out on her own again. I told her to take what she needs since it was hers to begin with.
Of course, I panicked and realized that BOTH couch sets her hers and if she took them, I would have nothing to sit one. Soooooo I started looking at flyers and the Brick has a 44 equal payments, no interest option. For a $99.00 fee I could get it all set up, buy a matching set, take until 2012 to pay and only pay $45.00 a month.
Sounds great right. Well I then realized that the no interest was negated by the $99 fee and if I simply put the whole thing on the CC and took a year to pay it off I would only be paying $19 more (my CC rate is 5.9%).
Then I thought about having to come here and fess up to all of you about adding another $2000 to my debt and trying to justify it, blah blah blah.
Moral of the story. Mom doesn't move for a few months. During that time I will pay down the CC as much as humanly possible (its JUST over $4000 now --> Dad owes me $1500 which he is going to get to me as soon as he can which means $2500 left. I have been averaging about $500 a month on the CC which means hopefully in about 5 months it should be paid off!!)
Anyways, thanks for being here and forcing me to think about having to explain my actions!!!
Bex -
"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."

Bex,
I am so glad you didn't do it!
Good job, Bex!!!
Perhaps you can build a furniture savings fund into your budget for when your mom does move...just a thought.
And who says you have to buy brand new?
Bex,
We love you! :-)
Glad you made a smart decision to NOT spend money. It is tough sometimes, but thinking purchases through before you make them is NEVER a bad move.
You never know when a great sale might pop up. Set aside a little money each month in an envelope and save up for some furniture you can pay CASH for!
Great job!!!
Congratulations on your judgement!