If you can't afford to buy something with cash, you shouldn't buy it, amirite?

Despite there being a massive amount of people in debt all over the world, I'd imagine this is still a popular opinion. Everybody knows buying stuff they can't afford is financially irresponsible but people do it because they like nice things

by Anonymous 1 year ago

Dont't buy it if you cannot afford it at least 2 times

by Anonymous 1 year ago

Damn look at all you fancy Rich assholes buying cars and houses with cash

by Anonymous 1 year ago

He said there are a few exceptions.. Read more.

by Anonymous 1 year ago

You don't have to be rich to buy a $5000 car

by Anonymous 1 year ago

Yeah. I'll spend 5K on a car that will need 20k worth of of repairs in the next year

by Anonymous 1 year ago

I have been driving 5k cars my whole life. As long as you get a decent car and know how to fix little things yourself then it works out fine. I have had a few $500 mechanic bills over the years but that's rare.

by Anonymous 1 year ago

I agree. But, if you can afford it cash, it can still be interesting to take a payment plan and spread the payments instead of paying everthing at once.

by Anonymous 1 year ago

Interesting? Like as research for a novel you're writing?

by Anonymous 1 year ago

What if they're offering 0% financing?

by Anonymous 1 year ago

So I shouldn't buy gas?

by Anonymous 1 year ago

Once again, obviously that is a necessity. I'm talking more about junk that people don't need (e.g. patio sets, hot tubs, televisions, etc)

by Anonymous 1 year ago

Facts

by Anonymous 1 year ago

That's how our father raised us he says with exception to home or an expensive car if you don't have the cash to pay for it you can't afford it.

by Anonymous 1 year ago

I kind of agree with you. If someone can't afford to pay it in full and goes too overboard with luxury purchases, it can have a snowball effect over time and put someone into financial ruin. That happened to me several years ago before I really got control of my finances.

by Anonymous 1 year ago

Yep, "rent to own" and other similar payment plans on stuff like TVs, game consoles, and other fun stuff are extremely predatory and take advantage of the financially illiterate and those with poor self control. They often have payment plans that cost over twice or more the price of the thing once all the payments are added up. Sure that Playstation is only $20/month but you'll be paying that for 5 years! (Random but not terribly far off numbers). Though some things like furniture often gives 0% financing as long as you pay it off by a certain date so that can be a decent choice if you're putting your money into other things that do charge interest or investments that grow.

by Anonymous 1 year ago

ok next time i need an ambulance i'll just die instead

by Anonymous 1 year ago

🤷‍♂️guess I'll walk 30 miles to work from my rural home that has no public transportation.

by Anonymous 1 year ago

I've always heard something along the lines of if you can't afford to buy something at least 3 times over, you can't afford to buy it once.

by Anonymous 1 year ago

Does that count for big ticket items like houses and cars?

by Anonymous 1 year ago

I would say so, simply because I don't like making payments on something that if taken away will severely impact my life. That being said, I'm probably not the best person to be handing out financial advice considering I had to move back in with my parents at 42 and owe the irs somewhere around $20k

by Anonymous 1 year ago

I think as long as you're financially responsible and have job security then it's ok to make payments.

by Anonymous 1 year ago

Wrong

by Anonymous 1 year ago

Except property

by Anonymous 1 year ago

A house or maybe a car are two exceptions

by Anonymous 1 year ago

I like the method a friend of mine uses. He gets little things to built up those free poinst you get. Amazon is a great example of this. But pays them off the same month. Essentially he is making free dollars of amazon points.

by Anonymous 1 year ago

Who overpaid for a patio set, just tell us the story

by Anonymous 1 year ago

Money isn't real. Patio sets for all the poors.

by Anonymous 1 year ago

There are plenty of online retailers who offer short-term, interest free payment plans. You get what you want, they get their money over the course of a few months. It's a win-win if you need something like a microwave.

by Anonymous 1 year ago

Yeah! If you can't afford healthcare you do t deserve it! /S

by Anonymous 1 year ago

Ops gonna live in a box.

by Anonymous 1 year ago

Explain

by Anonymous 1 year ago

Agreed with you. People getting way addicted to installment and pay later. Buying mobile phone also want to use an installment.

by Anonymous 1 year ago

For those types of purchases I try to go by the rule don't buy 1 unless you can afford 2.

by Anonymous 1 year ago

I think you mean debit?

by Anonymous 1 year ago

The only time you need a loan is for a house

by Anonymous 1 year ago