Can I Afford It?????????

So, we’ve all been at there … the store, mall, dealership, etc. … ready to make our next purchase. Then those pesky little guys pop up on your shoulders and you start debating.

Can I really afford to buy this?

You start going back and forth and then figure well I’ll just charge it … JUST A MINUTE … have you thought this through??? If you don’t have the money now what’s your plans for having it later. Charging something and then paying the minimum payment for months can end up costing you a fortune in the long run. Is paying all that interest really worth it to you?

Ok, so you’re not going to charge it. Now you see the large signs at the store saying “no payments for 6 months, 1 year or even longer”. You start thinking mmm ya, that could work … JUST A MINUTE … check the fine print. Some stores make offers and then sneak little details into the  fine print so you won’t notice you’re being ripped off. You may have no payment for 6 months but when you make your first payment on month 7 are you going to be charged all the back interest from months 1 to 6?

So, let’s say you don’t get charged all the back interest and you’re making your payments on time starting with month 7. Then month 10 comes along and you’re just a few days late on your payment. BANG! Next time you get your statement you’ll see all those back interest charges for months 1 through 10. You just got slapped in the face because you didn’t meet and follow through with your agreement.

Seeing the words “sale”, “deal”, or “% off” can really be deceiving. Be sure to check all the fine print and think your options over logically. Are you really willing to go into debt and owe someone else for what you’re wanting to purchase? Are you going to regret it in the morning?

Shout back and let us know if you’ve regretted a purchase you’ve made. Share your story and help others live the iLife!