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Old 04-22-2003, 07:27 AM   #1 (permalink)
Location: Pa, USA
When purchasing something, do you save up or put it on credit?

I find myself to be the kind of person that saves up until I can buy something "straight up," instead of opting to buy it over time (credit card, or store payments).

Granted, this is hard to do for more expensive things, but I am saving up for a car and I am going to wait longer and buy a used one (paid in full), as opposed to making payments for 3-5 years.

What do you find yourself doing? Saving up and buying all at once, or putting on credit or paying the store in timely payments?
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Old 04-22-2003, 07:37 AM   #2 (permalink)
Location: Brandon, FL
I'm the same way, I save until I get all the money and then buy. There's nothing I hate worse than knowing that I owe people money.
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Old 04-22-2003, 07:40 AM   #3 (permalink)
Location: MI
it all depends how expensive something is. if i know i can make the money by the time the cc bill is due, then i charge it.
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Old 04-22-2003, 07:45 AM   #4 (permalink)
Location: Plugged In
I make myself wait at least a week and decide if I really want it. Then, if I still want it, I'll go buy if I have the cash or wait till I have it saved up.
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Old 04-22-2003, 08:02 AM   #5 (permalink)
gov135's Avatar
Location: Midwest
Cash only. At some point, you pay more than the guy who paid cash if you used credit.

I think credit cards are beneficial to have for things like unforseen emergencies or that "perfect" gift for someone special. But no more use than three or four times a year.
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Old 04-22-2003, 08:07 AM   #6 (permalink)
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Location: Sexymama's arms...
I think everyone should note one important thing:

If you never use credit, you will never build it up, and you won't have it if you really NEED it.

My suggestion (which I follow better than I used to), is to have one or two cards and occasionally use them for small and big purchases (key word, occassionally) and then PAY THEM OFF IMMEDIATELY.

This way you will begin building a credit history of being a reliable person and when you WANT that CAR or HOUSE, you will be able to get a loan, and at the lowest interest rate available. (Higher risk individuals pay higher interest rates on loans.)
"Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." – C. S. Lewis

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Old 04-22-2003, 08:10 AM   #7 (permalink)
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Location: Denver CO
Cripes... you guys have too much patients...... I WANT EVERYTHING NOW hehehe....
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Old 04-22-2003, 08:11 AM   #8 (permalink)
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Location: Hanging off the tip of the Right Wing
Save up! It's the only way to go. Not only do you not end up in debt, but you also respect it more once you finally have it. Plus you never know--it might be on sale or cheaper by the time you get it.
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Old 04-22-2003, 08:12 AM   #9 (permalink)
Location: Solaris III
I save up for it, put it on credit, turn around a pay it off right away. Builds credit.
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Old 04-22-2003, 08:13 AM   #10 (permalink)
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Location: Yonder
My wife and I have immaculate credit (enough so that the credit manager came and shook our hands when we bought our first car). We generally try not to spend on credit, but when it's unavoidable, we don't blanch at the idea.

If it's a frivolous purchase (and I <i>love</i> those), it better be cash, or be on the credit card only until the statement comes.
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Old 04-22-2003, 08:14 AM   #11 (permalink)
Location: lost
Right now I only use cash (I'm a 19 year old college freshman). I think having a credit card would be too dangerous for me. I recognize my spending habits. If I have money on me, and I'm in a store I like, like Eastern Mountain Sports or Best Buy, I will generally spend it. Because of this, I rarely carry more than $5 with me, and I only have an ATM card, not a debit card. If I had a credit card, I think I'd just be too tempted to buy things that I couldn't afford, then get into trouble when I couldn't pay off the bills.

Good point Lebell, I hadn't thought of that. I guess I'll just have to work on my self control first.
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Old 04-22-2003, 08:35 AM   #12 (permalink)
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Location: the 'Ville
Depends on what I'm buying, if its expensive I'll usually put it on credit cause I dont like to carry a lot of cash. Though I rarely buy something on credit if I dont have the cash in my bank account.
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Old 04-22-2003, 08:49 AM   #13 (permalink)
Location: Northeast Ohio
I do both. I use credit if I know I will pay it off when the bill comes. But if it something expensive, I have to know that I can pay for it if I charge it.
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Old 04-22-2003, 09:27 AM   #14 (permalink)
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I always use the credit card for extended warrenties and cashback bonuses. But I pay them off every month. I have done this since college. I did buy one car on credit because my old one was going to need major work and I could not see putting the money into it. I paid it off a year early and my next car was with cash.
I was there to see beautiful naked women. So was everybody else. It's a common failing.
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Old 04-22-2003, 09:36 AM   #15 (permalink)
Cruisin thru life
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Location: Alpharetta, GA
Considering my credit sucks thanks to the assistance of my ex-wife. I use cash b/c I do not have any credit cards. Now that the ex is gone I have been cleaning my credit up
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Old 04-22-2003, 09:41 AM   #16 (permalink)
Sticky's Avatar
Put everything on credit, but only what you have in cash so that you can pay off the whole bill when you get your statement.

Aside from the benefits mentioned above about credit rating you can also expect to benefit in the following manner:
<br>You earn reward miles or loyalty points on all purchases. Trust me it adds up.
<br>You get a record of all your purchases that you can match to your receipts. You can't match your receipts to a one line debit to your bank account.
<br>If you pay it of right away you are not charged any interest.
<br>If you have a good credit card you get insurance on all your purchases.
<br>And here is the big one...<b>the money stays in your bank account for one extra month and you earn the interest instead of the merchant</b>.
Sticky The Stickman
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Old 04-22-2003, 09:45 AM   #17 (permalink)
Transfer Agent
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Location: NYC
Unless its a house or a car -- I pay for it outright. I do use credit cards but pay the balance in full every month. Been down that other road before and sure as hell on going back for a return visit...
I've yet to dephile myself...
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Old 04-22-2003, 10:14 AM   #18 (permalink)
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Location: Denver City Denver
Credit is the Devil.

I pay for everything in cash... I like carring around thousands of dollars in cash... not all the time so don't come find me.
heavy is the head that wears the crown
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Old 04-22-2003, 10:20 AM   #19 (permalink)
Location: Sweden
Save, the only execptions I can think of is a car and a house sometime in the future.
Happy shall he be, that taketh and dasheth thy little ones against the stones. - Psalms 137:9
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Old 04-22-2003, 10:38 AM   #20 (permalink)
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Location: Somewhere in Ohio
Now I save up. I have some stupid credit card bills cause I was dumb a few years back. It's my own damn fault.
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Old 04-22-2003, 10:57 AM   #21 (permalink)
I aim to misbehave!
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Location: SW Oklahoma
Credit berry berry bad. BAD! No use credit, is bad.

Save, pay cash, be happy.

Credit cards evil tool of satan. Cause much misery, sadness, brokeness.
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Old 04-22-2003, 11:16 AM   #22 (permalink)
Location: Minneapolis
Don't mean to hijack the thread, but I think this is on topic enough. Currently I have about $1600 or so in credit card debt. I have $1200 in a money markey account that is maybe doing 1-2% if that. I was thinking about taking the money in market account and paying down my credit cards. Good idea? Bad idea?
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Old 04-22-2003, 12:25 PM   #23 (permalink)
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Location: California
I buy everything with my credit cards and pay the bill at the end of the month, It's a good thing... my credit rating is excellent because of it.... the credit card company's are always calling me and saying"You are a great customer Mr. Ashton, would you like us to add a few thousand to your credit limit" so I say "sure"
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Old 04-22-2003, 12:34 PM   #24 (permalink)
Location: BEAN_TOWN
Straight saver! I always give myself some mad money though
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Old 04-22-2003, 12:43 PM   #25 (permalink)
kgb, unless your card debt is at 0%, that is a good idea. Very good idea.
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Old 04-22-2003, 01:48 PM   #26 (permalink)
I save up for everything except classes and books, those go on the credit card. For the most part, if I can't pay in cash, I probably don't need it.
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Old 04-22-2003, 01:55 PM   #27 (permalink)
I usually pay for everything with my credit card, but I only charge what I can pay off in full each month to help build my credit.
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Old 04-22-2003, 02:01 PM   #28 (permalink)
Location: ÉIRE
If I really need something and have not got the money I will get it on credit.If I have the money in my pocket and was thinking about something regardless if I was going to leave myself short Iwould buy it
its evolution baby
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Old 04-22-2003, 04:24 PM   #29 (permalink)
Cosmically Curious
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Location: Chicago, IL
I always save up. Otherwise you'll get stuck in so much credit card debt, and that would be very not good.
"The world is so exquisite with so much love and moral depth, that there is no reason to deceive ourselves with pretty stories for which there’s little good evidence. Far better it seems to me, in our vulnerability, is to look death in the eye and to be grateful every day for the brief but magnificent opportunity that life provides"
-Carl Sagan
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Old 04-23-2003, 07:12 AM   #30 (permalink)
The sky calls to us ...
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Super Moderator
Location: CT
Originally posted by sixate
Now I save up. I have some stupid credit card bills cause I was dumb a few years back. It's my own damn fault.
Thank God that smoeone actually has the balls to admit it's their own fault and not the credit companies.

I don't care how great a Platinum AmEx card makes people feel about themselves, they would change their opinion if they ever had a chance to carry that $20,000 around in a briefcase full of small bills. Even if it isn't your money, it's one of the greatest feelings in the world, as far as money matters go.

Speaking of credit, I want to know who the hell fucked up my rating so I can't even get a fucking student card. I haven't ever been delinquent on a payment for anything.
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Old 04-23-2003, 07:21 AM   #31 (permalink)
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Location: The True North Strong and Free!
depends on the item, sometimes i save up, but if I really really want the item or need it then I may charge it.

I usually err on the side of caution though. hence no home theatre system
"It is impossible to obtain a conviction for sodomy from an English jury. Half of them don't believe that it can physically be done, and the other half are doing it."
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Old 04-23-2003, 07:42 AM   #32 (permalink)
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I've always been a cash man myself. If I couldn't afford it, I didn't want it. Never even had a credit card.

This came back to bite me when I decided to buy a house. (which I did recently) I had to scramble to establish credit, save a HUGE downpayment and hope for the best.
Now I'm mister credit card. Barely think twice about big ticket items. I think having an income well into the six figures helps me feel more relaxed about buying things too.
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Old 04-25-2003, 01:43 PM   #33 (permalink)
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Location: Chitown!!
I've charged a few things lately, only because my credit card has a killer intro rate, and I should have no problem paying it off before the rate increases. I put a new camera (Canon EOS Elan 7E) and new speakers (Definitive BP-10) on it.
Well behaved women rarely make history.
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Old 04-25-2003, 02:49 PM   #34 (permalink)
Location: Up my ass
Originally posted by troit
Unless its a house or a car -- I pay for it outright. I do use credit cards but pay the balance in full every month. Been down that other road before and sure as hell on going back for a return visit...
I'm right there with you. I paid for everything cash up to this point in my life, while using the credit card for occasional credit-building items. And now, my wife and I are 21 and able to afford a brand new house, which we move into next month.
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Old 04-25-2003, 04:02 PM   #35 (permalink)
Black Belt in Slacking Off
Location: Portland Or-ah-gun
I always put it on credit. I'm 21 and I've had a credit card since I was 17 and I've never not paid off my balance every month. I have one of those rebate cards and they add up nicely!
Slacking off with style since 1981.
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Old 04-25-2003, 04:10 PM   #36 (permalink)
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Location: Redneckville, NC
When I get the chance I pay cash, I don't try to put anything on credit, I only use my CC if I need to do something online, if not I use cash (or debit card).
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Old 04-25-2003, 04:27 PM   #37 (permalink)
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Location: tentative, at best
Cash or Debit only.

I was Mastercard's bitch for 20 years - never again.
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Old 04-25-2003, 04:35 PM   #38 (permalink)
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Location: New York City
I buy everything on credit... and miraculously manage to pay it all over at the end of the month . I spend within my means, I'll never carry a balance.
"Don't cry because it's over. Smile because it happened." - Dr. Seuss
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Old 04-25-2003, 06:31 PM   #39 (permalink)
Think about it
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Location: North Carolina
Alpha phi and I save up....we don't own credit cards....
I've seen many family and friends go into debt because of them....
The only way I would get a credit card was if we were going to travel overseas...
Minds are like parachutes.
They work better open.

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Old 04-25-2003, 06:35 PM   #40 (permalink)
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If you have the discipline to pay off the credit cards every month you can get a lot of interesting bonuses. I can gift certificates to a book store almost everymonth. When I was renting an apartment I charged it and had almost $4k towards my next car.
"Behold the turtle. He makes progress only when he sticks his neck out.” ~ James Bryant Conant
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credit, purchasing, put, save, something

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