We always have bills and stuff. When is the point where you just get what you want and just buy what you want

Question

I want a motorcycle, 3rd car and flat screen TV. I don't want them all at once or anything, but everytime I go to buy one..either with cash or credit, my family always comes up with the "wow, that's a lot of money, you should save it, etc etc" Everyone else around me seems to have no problem. I have the money and/or credit. what should I do

Answer 1

A good question to ask yourself is: Why do you want these things? It isn't that you need them because there are very few people that actually need 3 cars or a flat screen. You should start paying off your bills for what you already have and save up for what you'll need in the future.

Most everyone has to make decisions when it comes to spending. Sometimes you give up a few lattes in the morning to save for something more important or valuable to you.

Also, you should be thinking about the future, not just living for the next purchase. Do you have a retirement fund, an emergency cash fund or any savings that may bring you through tough times? It would be a shame if all those purchases you made were repo'd because you had an emergency medical bill to pay for.

Answer 2

While it might LOOK like everyone around you has what they want and isn't struggling, don't be fooled. So many Americans are way, way, WAY in debt, but this has become so common-place, we see it as a way of life.

There are some things you're probably always going to have to buy on credit - a home, a car, a college education. It'd be nearly impossible to save before buying something of that size.

But I'm a big believer that for other things, if you don't have the ready cash in hand, you can wait. I never buy things like a new camera, a TV, or a computer on credit. I save until I've got the cash, and then I go buy it. Yeah, it may take a while, but in the end I own the item free and clear, and I don't have to worry about how I'll pay my credit card bill this month.

I've been married for 17 years, and I have a good job. My husband has an even better job, and together we make more than $200k a year. But even now, we can't just run out and buy something simply because we want it now. Unless you hit the lottery or become independently wealthy some other way, you'll never be able to just spend on a whim.

Answer 3

It's never wise to buy such things on credit, if it can be avoided. You simply end up paying a lot more for the items than you would otherwise. The items you want are FAR from necessities of daily life. They're simple luxuries.

I agree with your family. If you want a future stable economic situation, SAVE your money and make do with what you can properly afford.

If you doubt what I say, simply read the credit portion of this forum and read the stories of those who have followed the path you seem to desire. They're not pretty stories, to say the least.

Answer 4

Watch out for
"Everyone else around me seems to have no problem"

That is NOT true, they probably have huge credit card bills



THE MORE MONEY YOUY MAKE THE MORE YOU SPEND!
You cant have that attitude that you want it and you have to have it.
A fancy car is not worth it, you park it it gets scratched so dont buy a BMW or a Mercedes. Buy a good used car, including a BMW.
You will never be happy competing like the Jones next door who went on vacation to Europe, bought a Rolex watch, bought a new boat, bought a new 52 inch LCD TV.

Answer 5

When you get out of debt or win the lottery

Answer 6

I guess when you make up your mind and quit lettin' family make your decisions.

Answer 7

I am sick of pinchin pennies,IfI want it I'm buying it.