Monday, November 26, 2012

I Did NOT Pay Best Buy

I had intentions of paying off my Best Buy card when we got paid on the 15th of November but....then I started thinking about Black Friday sales and a few other expenses we have coming up.  The bills we have coming up that are significant are annual home insurance ($745), bill from the electrician ($515), new tires for my car ($525), and of course Christmas.  Oh, also remember that bed set we really wanted...

Anyway, on our payday I paid $300 to Best Buy and transferred $6000 to savings.  Then on Black Friday we bought the bed set we wanted to the tune of $4450.  Yes, I feel like a failure but we so wanted it and Y is having back problems because of our current mattress.

Go Ahead.  Blast me.  I really feel like I deserve it.  I guess that I still have another 14 months to pay off Best Buy but still...

11 comments:

  1. Will the purchase add to your quality of life? Then stop beating yourself up. We had to get a mattress last year ourselves because hubbys back was really hurting from the one we had.

    Its not like you ran out and purchased 4500 in video games you got something you needed and will add to your comfort.

    Enjoy it.

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  2. Honest question: Why not put some of that $$ that went into savings onto the Best Buy debt? Is there a reason for the huge amount into savings & the small debt payment? Does the Best Buy card have no interest?

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  3. I say take full advantage of their 0%. Pay the minimum, add the rest to your savings, and pay it off 45 days before the end (just to be sure it all posts correctly & in time). Use their money and let yours work for you a bit more :)

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  4. I won't lash you until the card starts accruing interest. Then you better WATCH OUT!!!!!!!

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  5. Carla, I wasn't clear. The money that was transferred into our savings will actually be transferred back out to pay for the bed and insurance. I paid both on our credit card for the rewards. I get over $50 by just paying that way. When the bill comes, I will transfer the money but I pretend like I don't have the money in savings now because it is already spent. The Best Buy is at 0% for another 14 months. Anon, you are so right. The back interest on that card is brutal.

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  6. You know we all make decisions based on what we think we can handle. You make a good living and have been able to build a house with very little debt. I think you are big girl and if you want this you are capable of paying it off. It is not like you are out there with 15 misc. charge cards racking up bills for clothing and sundries. If you wanted this for your new house you should be able to do this without our judgement. But I want a picture. Did I miss the house pictures?

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  7. It seems like money well spent. You and your spouse's health is important. As long as you are not paying interest, it is Ok to pay Best Buy in installments. Just be cautious because when you have payments spread over a long time, you may end up with other payments and the monthly paymenst add up quickly.

    I am also curious about the bed set that cost so much. Will you be posting pictures anytime?

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  8. As others have said, you made an informed decision, based on your situation. If you want a tongue-lashing, just wait to see what people say if you don't pay that sucker off before the back interest kicks in! Til then, sleep soundly in your new comfortable bed. A good night's sleep is one of the most valuable things you can do for your health, both short and long term.

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  9. Tradeoffs are difficult. You traded off the satisfaction of paying off your credit card for a more comfortable bed, and only you (and your husband) can determine if the value was worth if. If so, live it up & enjoy, & plan to get the card paid off asap. If not, figure out what caused the purchase to start with & how to avoid that type of mistake going forward. We all do things that don't make sense financially - sometimes they are "worth" it, from a bigger picture perspective, & other times not.

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  10. Oh, dear. that is an expensive bed set. Can you cover the bills you mentioned with the bed set as well?

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  11. Daisy, yes, we can cover the bed set. I know its an expensive set but its the one we wanted. We know that we will have this bed set forever. Our last one cost $1000 (without the mattress) and the bed is competely broken. It is screwed together in 4 different places. We bought it right after we got married and it lasted for 8 1/2 years (we will actually pass it on to Lil Punk now because it will be fine with only her weight). I guess the fact that it was our honeymoon bed caused it undue stress that it wasn't built for. LOL!!!

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