The TV is finally paid off. This debt started last year around January, I decided I needed to spend over $1,900 on a new HDTV, it had 0% financing for 3 years. Little did I know it would only add stress since it required making a minimum monthly payment. The last statement showed $248 of deferred interest. Imagine that amount after 3 years. We will never finance furniture or electronics again, instead we are going to have a separate savings account for big purchases.
Congratulations to the Steelers for their win and Don't forget to get your free Grand Slam at Denny's today.
HS
7 comments:
Dosen't it feel so good! I love slamming these companies with payments!
what a great victory for your family!!! plus the lesson learned of no debt for furniture & electronics is a great one.
So have you set up that separate savings account yet? Nag, nag, nag.
I really like your blog!
My husband & I are in our early twenties, and trying to get out of debt as well. Its nice to read about other people trying to do it. I mean, we've read Dave Ramsey's books, but its not really the same as a normal everyday person.
Anon,
Yes we have a savings account at Emigrant Direct that we can move money to and from our bank.
Now if we only have 5,000 in that account :)
I have had my own nightmare with Best Buy - something I plan to blog about in the future, but the skinny is that a few years ago I bought a laptop on deferred interest. With $200 left to pay (from $3000), I made a miscalculation as to when the deferment period was ending (I thought it was a month later than it was). Rather than paying off the $200, I made my usual $100 payment. Imagine my surprise the next month when my bill came in from Best Buy for $650 dollars! I now owed all of the deferred interest, my entire reason for purchasing with Best Buy, b/c I hadn't paid off the purchase by the deadline. Never mind the fact that I had paid $100 per month, every month for 3 years. I will tell how this story ended when I get to this in my blog, probably sometime in March (www.debtorsprism.blogspot.com).
It is rather interesting for me to read this post. Thank author for it. I like such topics and everything that is connected to this matter. I definitely want to read more on that blog soon.
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