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Lynnj · ‎03-21-2010

On 10/22/2014 glb613 said:
On 10/21/2014 Lynnj said:
On 10/21/2014 ExtremeOnlineShopper said:
There is a website called SmartyPig.com. It is a savings/banking website. It helps you put aside money for any goal you want. We got our tablets by using it. Yes, we had to wait before we got them, but, we didn't overpay and unneeded accessories were not included to inflate the price.

Interesting. Never heard of that site before. I just looked at it. It's FDIC insured, and it pays you interest like a savings account does.

Why not use your own bank account? Am I missing something?

Because your own bank account doesn't do the thinking for you. I personally think a site like this is a good tool for people who may have challenges in self motivating to plan for upcoming funding events. It's helps to think through the process and details out how to get from point A to B. It also provides awards for completing the task, which can help to give some a sense of accomplishment. Why would you knock something that is available for people that helps to direct them in a positive way? Believe it or not....many people need a site like this to help provide structure. I work in the financial industry, and it's scary to see the average persons money habits. Honestly, I'd rather see people use a site like that than continue to piddle money away on easy pay payments.

Annabellethecat66 · ‎03-12-2010

Good grief! I love this Country. There's something for everyone. Some can save, some can't save, some want it now, some can wait.

To each his own. It doesn't make it right, it doesn't make it wrong.

glb613 · ‎03-09-2010

On 10/22/2014 annabellethecat said:
Good grief! I love this Country. There's something for everyone. Some can save, some can't save, some want it now, some can wait.

To each his own. It doesn't make it right, it doesn't make it wrong.

It may not make it wrong but, it makes it stupid to pay more than an item is worth.

Mayfayre · ‎10-16-2013

On 10/22/2014 annabellethecat said:
Good grief! I love this Country. There's something for everyone. Some can save, some can't save, some want it now, some can wait.

To each his own. It doesn't make it right, it doesn't make it wrong.

Amen!

/start rant/

I have to laugh at the underlying assumption that the people who take advantage of EZ Pay don't know that a lot of the things they buy that way cost more here than they would in store. Trust me, we know. We comparison shop online just like the rest of you and have a good idea of what we are buying and what it costs in the brick-and-mortar stores. We don't need to be hand-held into the light. ${#emotions_dlg.biggrin}$

If you've got bad credit or no credit, then it doesn't matter how much cheaper an item is online or in the stores, you can't pay the total price all at once. You won't be eligible for store credit plans. QVC is one of the few places where you get get items on "time" payments; to me, the higher cost is just what I would have been paying on a credit card balance anyway - because I wouldn't be able to pay it in full each month no matter what, so there always will be interest charges.

As for the suggestion of putting away $100/mo until you save enough for whatever you want to buy, that's nice if you have the $100 and can leave it untouched. You'll have to forgive us, but we are products of this culture just like the rest of you and we like to get occasional new things for ourselves or to get a nice gift for a family member - even if theoretically "we can't afford it", if looking at it from your POV. We, just like the rest of you, don't want to wait months and years before we can get something we really want; life is too short. So we get something on EZ Pay because we know that we can rob Peter to pay Paul each month in our budgets for that smaller EZ Pay amount, whereas that suggested $100 will always be used for some other needed bill or purchase before the month is up - simply because it is available.

/end rant/

Lynnj · ‎03-21-2010

On 10/23/2014 Mayfayre said:
On 10/22/2014 annabellethecat said:
Good grief! I love this Country. There's something for everyone. Some can save, some can't save, some want it now, some can wait.

To each his own. It doesn't make it right, it doesn't make it wrong.

Amen!

/start rant/

I have to laugh at the underlying assumption that the people who take advantage of EZ Pay don't know that a lot of the things they buy that way cost more here than they would in store. Trust me, we know. We comparison shop online just like the rest of you and have a good idea of what we are buying and what it costs in the brick-and-mortar stores. We don't need to be hand-held into the light. ${#emotions_dlg.biggrin}$

If you've got bad credit or no credit, then it doesn't matter how much cheaper an item is online or in the stores, you can't pay the total price all at once. You won't be eligible for store credit plans. QVC is one of the few places where you get get items on "time" payments; to me, the higher cost is just what I would have been paying on a credit card balance anyway - because I wouldn't be able to pay it in full each month no matter what, so there always will be interest charges.

As for the suggestion of putting away $100/mo until you save enough for whatever you want to buy, that's nice if you have the $100 and can leave it untouched. You'll have to forgive us, but we are products of this culture just like the rest of you and we like to get occasional new things for ourselves or to get a nice gift for a family member - even if theoretically "we can't afford it", if looking at it from your POV. We, just like the rest of you, don't want to wait months and years before we can get something we really want; life is too short. So we get something on EZ Pay because we know that we can rob Peter to pay Paul each month in our budgets for that smaller EZ Pay amount, whereas that suggested $100 will always be used for some other needed bill or purchase before the month is up - simply because it is available.

/end rant/

That crazy way of thinking is exactly what will keep people who can't get credit in that position forever. You say IF they had $100 per month to put away - aren't those same people giving $100 to a shopping channel through a monthly easy pay payment? In the case with this TSV the monthly easy pay payment for this one item was over $100 for each payment. Who knows what other items these people without credit ordered this month on easy pay? It's frightening to think what the total monthly easy pay payment is for all those items added up?..possibly much more than just $100 per month. How about demonstrating self control and not order somethIng, just because they can with monthly easy pay payments, but instead delay self gratification for later when the person can actually afford the item by paying for it in one payment....and at the same time saving almost 50% off the price had they ordered it through tv shopping because they were "forced" to use easy pay and pay more? Imagine what this persons life would be like if they didn't buy something and didn't have an easy pay payment, and took $100 cash out of their paycheck each month. They put $50 of that $100 in an envelope. In 6 months that envelope would hold the amount enough for them to go to the store and buy it in full with no monthly payments. Oh and by they way....they also would have an additional $50 each month for fun money to go out with or something, because we only put half of the $100 away for delayed gratification. In the end the person will have more money to spread over more things. And guess what...I can almost guarantee you that in time they WILL be able to get credit if they keep up with this sensible money habit.

glb613 · ‎03-09-2010

On 10/23/2014 Lynnj said:

"That crazy way of thinking is exactly what will keep people who can't get credit in that position forever. You say IF they had $100 per month to put away - aren't those same people giving $100 to a shopping channel through a monthly easy pay payment? In the case with this TSV the monthly easy pay payment for this one item was over $100 for each payment. Who knows what other items these people without credit ordered this month on easy pay? It's frightening to think what the total monthly easy pay payment is for all those items added up?..possibly much more than just $100 per month. How about demonstrating self control and not order somethIng, just because they can with monthly easy pay payments, but instead delay self gratification for later when the person can actually afford the item by paying for it in one payment....and at the same time saving almost 50% off the price had they ordered it through tv shopping because they were "forced" to use easy pay and pay more? Imagine what this persons life would be like if they didn't buy something and didn't have an easy pay payment, and took $100 cash out of their paycheck each month. They put $50 of that $100 in an envelope. In 6 months that envelope would hold the amount enough for them to go to the store and buy it in full with no monthly payments. Oh and by they way....they also would have an additional $50 each month for fun money to go out with or something, because we only put half of the $100 away for delayed gratification. In the end the person will have more money to spread over more things. And guess what...I can almost guarantee you that in time they WILL be able to get credit if they keep up with this sensible money habit."

Amen. Poor impulse control and no delayed gratification are too reasons people are in debt. I'm so grateful my parents taught me about money from a very young age. If I wanted something expensive, I had to save my allowance and do extra "chores" to pay half. It taught me a lot and one of the main reasons I have no debt today. There were no credit cards when I was growing up or a young adult. You had to save for what you wanted or use layaway. It didn't mean you never had something expensive. You didn't have it with a few clicks of a mouse then no way to pay for it when the bill came.

If you can pay in full an EZ pay payment, you can save up to buy it outright. QVC may have some great deals but they never have one for Apple products. If people were really doing comparison shopping as Mayfayer claims, they would know that.

violann · ‎03-10-2010

"Use it up, wear it out make it do, OR DO WITHOUT." I am an old woman who was raised by a whole family of "Depression Babies", and although I admit to having been spoiled rotten as a kid, NOBODY used credit. NOW, I have absolutely NO GRIPE at people who use credit and pay in a timely fashion, maintain low/no balances and NOT depend on credit for living expenses. HOWEVER, doesn't bad use of credit raise MY costs? Isn't poor credit management one of the reasons why the economy is as bad as it is? If someone will convince me that this is not so, I will gladly and humbly apologize!!!!

Lynnj · ‎03-21-2010

On 10/24/2014 glb613 said:
On 10/23/2014 Lynnj said:

"That crazy way of thinking is exactly what will keep people who can't get credit in that position forever. You say IF they had $100 per month to put away - aren't those same people giving $100 to a shopping channel through a monthly easy pay payment? In the case with this TSV the monthly easy pay payment for this one item was over $100 for each payment. Who knows what other items these people without credit ordered this month on easy pay? It's frightening to think what the total monthly easy pay payment is for all those items added up?..possibly much more than just $100 per month. How about demonstrating self control and not order somethIng, just because they can with monthly easy pay payments, but instead delay self gratification for later when the person can actually afford the item by paying for it in one payment....and at the same time saving almost 50% off the price had they ordered it through tv shopping because they were "forced" to use easy pay and pay more? Imagine what this persons life would be like if they didn't buy something and didn't have an easy pay payment, and took $100 cash out of their paycheck each month. They put $50 of that $100 in an envelope. In 6 months that envelope would hold the amount enough for them to go to the store and buy it in full with no monthly payments. Oh and by they way....they also would have an additional $50 each month for fun money to go out with or something, because we only put half of the $100 away for delayed gratification. In the end the person will have more money to spread over more things. And guess what...I can almost guarantee you that in time they WILL be able to get credit if they keep up with this sensible money habit."

Amen. Poor impulse control and no delayed gratification are too reasons people are in debt. I'm so grateful my parents taught me about money from a very young age. If I wanted something expensive, I had to save my allowance and do extra "chores" to pay half. It taught me a lot and one of the main reasons I have no debt today. There were no credit cards when I was growing up or a young adult. You had to save for what you wanted or use layaway. It didn't mean you never had something expensive. You didn't have it with a few clicks of a mouse then no way to pay for it when the bill came.

If you can pay in full an EZ pay payment, you can save up to buy it outright. QVC may have some great deals but they never have one for Apple products. If people were really doing comparison shopping as Mayfayer claims, they would know that.

I didn't learn the value of money and saving as a kid. As an adult, out on my own, I used credit to buy things that I needed, making the minimal monthly payment. That's all I could afford with the salary I was making at the time. Sure, I bought things with shopping channel easy pay too. Deliveries arriving a few days each month. Sure enough, it all caught up with me. I was way over my head in credit debit, and had a lot of money each month owed to tv shopping because of the easy payments coming due for things previously bought. I felt broke all of the time! But when I finally stopped and opened my eyes to see where all of my money was going each month, I then connected the dots. Buying things on credit and paying only the minimum payment each month was actually costing more than if I paid in full with cash. I also opened my eyes to see that what I was buying through tv was also available in local stores, and sold for cheaper...with no shipping fees too! I then realized that things I was buying were just things, not necessities to keep me alive, but things I wanted that made me happy (wants). Because of the financial circumstances that those choices put me in at that moment I was forced to stop buying wants and only buy necessities. Through that process I was able to pay off all existing easy pays, then worked on credit cards. I learned to free myself from the monkey on my back each month of feelimg broke because all my money went to monthly payments to places and never really feelimg like I was getting anywhere close to fully paying things off. So I wasn't taught good money habits, I had to struggle through being in debit and getting myself out of debit to learn good money habits. I lived through it and can tell you that it can be done if you make a decision to do it.

glb613 · ‎03-09-2010

Lynnj, We hijacked the thread and I hope the OP doesn't mind. I know there are people who are in debt because of things other than overspending or impulse buying. But, I've read articles about the overwhelming debit most Americans have and it's caused by spending money they don't have on things they don't need. Sad.

Lynnj · ‎03-21-2010

On 10/25/2014 glb613 said:
Lynnj, We hijacked the thread and I hope the OP doesn't mind. I know there are people who are in debt because of things other than overspending or impulse buying. But, I've read articles about the overwhelming debit most Americans have and it's caused by spending money they don't have on things they don't need. Sad.

I agree, especially the part of being in debt not due to overspending or mis managing money. Many, many (including myself back in the day) are one paycheck away from poverty or worse. In fact, my story above didn't mention that it was a hospital bill that caused me to really go under. While I did spend somewhat recklessly, I was managing it, just didn't have much savings (if any) and when that huge hospital bill came that was totally unplanned I got hit hard financially. Practically ruined me to be honest. For for the grace of God I somehow found my way out, and in the end learned the value of money management and good spending habits. For me...I am richer (not in the financial sense) for having gone through that experience...which I wouldn't wish for anyone (except for the lesson learned).