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Thread: wanting vs. needing--big screen tv

  1. #31
    Member SandyD's Avatar
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    Re: wanting vs. needing--big screen tv

    Quote Originally Posted by joshnky View Post
    The better question is why not pay cash if you have it? I'm sure your parents will be fine and can handle this but this is the attitude that has created the latest credit "crisis". People have built up massive credit card debt based on the attitude of "why pay now?" You're going to have to pay for it sometime. Why not pay now and then eliminate the risk of something happening and the interest kicking in.
    The cash is in savings accounts earning interest. They can get at it at any time. They will use automatic payments to prevent the interest from kicking in.

    They put a trailer on discover (to get the cash back), paid it off entirely before the interest kicked in, and paid THEMSELVES back with interest.

    Look, I don't recommend it for many people. But a lot of people of their generation can do something like that. Few of mine and younger.

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  3. #32
    2009: Fail Ltlabner's Avatar
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    Re: wanting vs. needing--big screen tv

    What people are missing is that 4% on a CD, our using credit card points or getting a little interest in savings isn't the point (in this scenario).

    While those are generally good things, the rate of inflation renders it moot in this case.

    The real point is whether it is sound to buy a huge tv in lue of paying off debt or building up a nest egg. From what the OP originally shared, he/she still owes debt on vechile, and is considering *more* debt via a loan for the TV. We don't even know about credit card debt and apparently there's little to no savings (or else he'd just pay cash). Serriously, on what planet does it make sense to buy a $2,000 tv in that scenario? Especially when he's watching TV on a 30" unit right now!

    In the *short term*, especially in the face of uncertian financial times, you are wiser to retire debt/increase savings only so you have operating funds should you need them (and no drag from debt payments). Worry about interest and investments later.
    a super volcano of ridonkulous suckitude.

    I simply don't have access to a "cares about RBI" place in my psyche. There is a "mildly curious about OBI%" alcove just before the acid filled lake guarded by robot snipers with lasers which leads to the "cares about RBI" antechamber though. - Nate

  4. #33
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    Re: wanting vs. needing--big screen tv

    To put this to bed after thinking it over I'm going to wait until the van is paid off. I've waited this long another 6 months isn't going to kill me. Thanks for the opinions and yes I did ask for the opinions but Ltlabner no point in posting 3 different times about how what planet I'm on,every level of dumb, or how broke I may be? Going a bit overboard for such an innocuous topic.

  5. #34
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    Re: wanting vs. needing--big screen tv

    Quote Originally Posted by joshnky View Post
    True but that doesn't make it sound advice. Its playing with fire and you never know when unforeseen circumstances might change your financial situation.
    Not really. It all depends on what your financial situation actually is. For some folks, $1200, even in the face of "unforeseen circumstances" wouldn't affect them at all. It's all about knowing your own bottom line.

  6. #35
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    Re: wanting vs. needing--big screen tv

    Quote Originally Posted by gonelong View Post
    If handled correctly, you can pay $2K today or pay $1920 later (effectively, since you can make $80 in interest). How is it sound advice to pay up front?

    Quite frankly, if unforseen circumstances come up and I needed the money I'd rather have the $2K in hand and let them repo the TV.

    Caveat: (Other than the obvious that the person can't control themselves and will spend the money on something else.)


    GL
    Nice post.

  7. #36
    Rally Onion! Chip R's Avatar
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    Re: wanting vs. needing--big screen tv

    Closed per BUTLER REDSFAN'S request
    The Rally Onion wants 150 fans before Opening Day.

    http://www.facebook.com/pages/Rally-...24872650873160


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