Buying dolls on credit?

Having gone through credit debt counseling I can tell you that saving up and buying the doll outright is better to me than paying for it with credit. The doll is mine when I pay for it with my money and I did not have to pay finance charges. I set money asside so that I can make a purchase. Just in case I see a doll or item that I really want. If you can afford to make the payments then go ahead with the credit purchase. As for me, I don't like finance charges on top of what I am already paying and the feeling of owning the doll without having to worry about payments is a very good one.

 

I think I caused some peeps to get very defensive, I should clarify I am all for many aspects credit cards but young people are using them badly during a time when their lower incomes have the power of compound interest to set themselves up. I have a limited amount of monthly transactions on my everyday bank account before I'm charged fees but can just cash up my cc and get as many free transactions as I like on it (paying a low annual fee for the privilege). I'm a full time uni student with a lame fast food job and giving away any money to the Bank in interest is painful and I'm not okay with it. My only complete doll I purchased 2nd hand for almost 1/2 the retail cost - they are not an investment. I collect China, ancient Roman jewelery and vintage synths - all expensive, lovely and currently valuable stuff but also not investments. Buying a House or Car on a high interest loan with little or no deposit down is far worse than buying a doll on credit, especially a new car. I constantly get unsolicited offers to increase my credit limit and I always accept. I used my cc to purchase tickets about a week ago and didn't pay it back straight away from savings but waited until my next pay way withing the interest free period, I put it $50 extra in case I win some anime series on ebay this week. I love that having a credit card allows me to make instant payments on paypal. If I needed ten grand for some business idea I would have it there, locked in at 10% or even less for a year, and if I really believed in and got plenty of advice and got lawyer stuff done then I'd totally get in credit card debt, work hard and touch wood, I'm not at all sensible like that. Credit Cards are freakin awesome really - people can buy their families groceries and pay the mortgage when they're between jobs for too long the savings go.

Social Security may not exist by the time we retire either, but the fact that those who have saved will be paying for those that didn't (if is does exist) isn't fair and besides personal finance is pretty fun and something you can set up and forget about, you don't really have to deprive yourself of anything - just avoid debt. I spend less on funding my retirement than I do on cigarettes and I'm totally on track, I go out on town every few months and spend $100 in a night, I go to dinner and coffee etc with friends often and have a huge ever growing list of material possessions I sequentially save for and buy. I enjoy the feeling of financial security and can take pleasure in it - possibly not as intense joy as getting a new doll, but when I get the doll I saved for I get to have both "doll joy" and "not-adding-years-to-my-retirement-age joy". I am not the most best at money, I don't really like money even, I have been at uni 6 years as an undergrad, racking up enormous student debt, and still have a year until I complete my first major. I'd feel very hypocritical telling people how to spend the money they actually have, I am privileged that I moved back home to not pay rent and save a bundle to go overseas 6months next year. Unnecessary debt is a bad thing, a doll is a most excellent object and everyone should have them imo, just choose doll over big-screen TV or a Wii or other neat stuff, wait until you have the funds and let your dolls teach you patience. ^___^

 

Hmm...
I guess it variates depending on the type of personality each person has.

I for myself am the 'rather save than sorry' type most of the time.
Right now I could easily purchase my first doll. BUT. Then my account would have only little left and even thought my salery of last month is lurking around the corner, I don't want to spend the money yet. Just in case something happens.

Generally I can only advise not to spend more money than you can afford. Without only eating soup, rice or something like that the whole month.
I know of a person who did that just to be able to purchase some sort of limited good (not a doll).
No doll of the entire world is worth risking one's health over.

My 2 cents :3

 

I thought that was the point though - that just because it feels like it's no big thing (and on it's own it's not, but don't these things sometimes snowball?) but a bunch of those little things eventually add up and isn't that what gets people into trouble? Don't get me wrong, I totally agree that it's not an either/or issue, but think the fact that it's a spectrum of behaviours with a huge grey area is what makes it an interesting thing to talk about!

 

Forgive me, but I'm still not seeing your point. It sounds like you personally are trying to have cash on hand for all your major purchases. And that's great! If that works for you then more power to you.

But it also sounds like you're projecting your views onto others. That everybody should have cash (not use a credit card) when they buy a doll. I think that's why people are reacting strongly to your posts. Everybody handles money and debt in their own way. Yes, ideally we could make all our big purchases with cash and nobody would have any debt. Unfortunately life doesn't work like that. What others are trying to say is it's perfectly reasonable to have a small amount of debt for a doll. Just don't let debt take over your life.

 

I've made a few purchases/payments towards my dollies with my credit card, and I'm not suffering? I'm still paying my bills, I have an extremely low cap on the card (seriously, lowest you can get), and so far I've paid it all off each month because when I make a payment on a doll, I know that I will be able to pay the charge off in the near future.

I personally don't see a problem with someone using the credit card to make payment as long as they are still able to have the necessities (especially when they are responsible for the care of someone/something else-- I'm including pets in this). But hey, I mean, it's true that I can't stop someone from becoming homeless from buying too many expensive dolls. I haven't heard of this happening, but... it's not a life I want to live, but if someone else does and no one else is suffering for it, then by all means it's their problem not mine.

If I waited until I had all of the money IN my hands before I got any of my current dolls... I wouldn't have them at all. But I've never went into massive debt for it, and I've always managed to make payments (as said above). Right now, there's a doll I really, really want and it is a limited. However, due to my current doll layaways, I know it is an impossible situation at this time for ME. I don't want to take on more debt. I've reached my comfort zone of what I know can be paid off.

Honestly, I'm of the opinion of live for today and save for tomorrow. It's not necessarily healthy to not plan for the future at all, but if that's all you do, then you may miss out- life might pass you by. To some people, having a doll is more important than a lengthy vacation or new game console. I want an Xbox 360 at the moment, but not only do I have doll payments to make, I want to save up for some bodies for my floating heads! So I made a choice. Some people don't want to or have to make that choice. Some people are financially blessed and others don't care about saving for the future because we may not be here tomorrow anyways.

Yes, the economy is terrible right now, I agree. And the USD is decreasing in value (I'm not sure about other countries as much). Also, college students are taking on ENORMOUS debt and most aren't seeing jobs after- so can you really say that paid off for them? Go to college, get a degree, become a waitress. (I'm working on my second degree and holding down a full-time job- no, I'm not a waitress.). And yes, people are choosing to pay only with the cash they have. Others are buying what they want to buy because it makes them happy. I believe there is a point it could "spiral out of control", but it's not my place to tell the person unless I know them and I can see its visibly effecting them negatively (aka. I would be concerned if a friend did become homeless because of spending habits or couldn't buy food). But if someone buys something with a credit card and they don't have the money for it on hand doesn't make them "Ooo, dangerous/evil/etc."

TLDR; If you want to save and buy with what cash you have on hand, that's your decision. But don't patronize people who have debt. However, it is my decision to say "I will pay on this doll and take on some debt" and earn it. I don't think I'd feel more or less satisfied no matter how hard I worked for it. Why? Because in the end, I'll be working for it and I'll see the doll and smile because I know I paid for it even if I brought it home sooner rather than later.

 

To the first part: you are right. But no matter if the doll loses or wins value, you have at least enjoyed playing with it - AND have the chance to see it increase its value.

To the second part: Nagamaki said nobody who doesn't have thousands saved can afford a doll, not 'avoid debt'. These are not the same.

This is how I understood it, too.

To the first part: actually, the main point I was trying to get across was that your wording was quite similar to what non-doll people say, and that I am amused by this fact. I don't accuse you of anything and I also don't feel defensive. So you also don't need to feel defensive, neither. This thread is DEBATE. It is cool that you brought in controversial topic.

To the second part: this is happening already in Germany, and being in the western part of it and working, I am already paying for the retirement pension of the people in East Germany that never invested money into the retirement system that exists now. Sadly, it is not even their fault, because... well history, history. I am too lazy to explain. In short: it is okay, and they are people of the country I live in - and this country gives me a lot, so I think it is good to give back a bit, too.

To the third part: it is even more funny how you got us all in a discussion with an opinion rather contrary to your own behavíour, because you do indulge in all those things that you like, but in that first post you sounded like a monk

 

I would honestly like to make purchases for my doll on credit. Right now however, since I have no credit I cannot get approved for a credit card. I'm very good at making my payments that need to be made (ie I've had a phone for six months and I've never once been late on the payment for it).

I'm very good at setting aside money I need for things. I'm less good at saving it for something... because if I don't feel like I NEED to save it to pay a thing, it's easy to say to myself; ... well just $5 or $10 here for ____, or to get a candy bar... or more things I want. And then suddenly my little pile of money has shrunk. And then I get to a point where I only have half of what I started with and I think to myself; well... I'm so behind. I'll just start again next paycheck...

idk I guess I'm just weak-willed like that. I will say however that obviously, the doll I'm waiting for was purchased outright. lol

 

I agree. I'm in my mid 40's, married, my hubby and I own our house outright, we own our one car outright - no debt and are currently saving for an investment property. Our sole debt is our credit card. So in my instance, putting a doll on credit card is not a big deal. If you combined our credit card limit, it wouldn't add up to 5% of our income. Even so, I'm still cautious with credit card purchases and doll purchases and like to think that I don't go too far with spending. I know that I have a lot of BJDs and at times, it makes me feel guilty, but then I don't smoke, drink alcohol or wear designer clothing so I figure my money goes on dolls. When I was younger, I was a lot more careless with money, but have still ended up in this position. I do worry about retiring and am getting to the stage where I will probably focus on the dolls I have and putting money into retirement than hobbies, but at some point, you do have to enjoy your life. I can see that it would be easy to get into financial problems through buying dolls, but there are certainly a lot of other hobbies/interests that can burn through cash as well. If you have a problem with overspending, excess spending on dolls is just a symptom, not the cause. You'd be better of looking at why you need to buy dolls to make yourself happy. If you're simply young and don't want to worry about the future, fair enough. Perhaps just aim to put some of your cash in the bank as well as in BJDs.

 

I have to say putting a doll on credit isn't bad at all. I'm getting my first one on credit and it's working out well for me. I'm working and paying it back, so I believe to works either way. All in all the money is coming out of your pocket anyways.

 

Yes, saving for a doll is much wiser. But in my case, I had vacillated for months over this one doll. I was a noob, so I had no idea that it was downright WEIRD that this Limited Edition was up for so long. I've since learned that most Limited Editions go out in DAYS rather than months. I was just plain lucky to get my doll, that's the plain truth!

So the minute my BJD-knowledgeable friend told me that LEs were rarely up very long, I immediately slapped it on my credit card (which was already in trouble, I might add).

I hate borrowing money, I hate feeling like a slave to the bank... but you know, sometimes there are things that are more valuable than money. It would have been different if I liked every BJD I saw; then I would have saved and gotten some other doll. But this BJD was really special to me. In fact, I've only seen one other BJD that makes me feel quite that way. So I felt okay about it. This doll was a really good purchase for me.

 

That's basically my rationale for using my credit card, too. Gift cards and protection in case something goes wrong with a transaction. I've unfortunately been through a bad dolly deal in the past (paypal solved it in my favour, in the end), but it's taught me to be super wary and use all avenues of protection possible!

 

I think a lot of it depends on your ability to budget. For example, I have money but no job right now. Spending $400 on a doll would just be stupid and buying on credit wouldn't make sense either because I'd be assuming that I'll have a way to pay for it later. I've seen a number of people get enough money to buy a doll and instead of taking care of this bill or that bill they get the doll and wind up having to sell it a few weeks or months later. That's their choice, but not one I personally would have made.
I think that if you have a steady income and know that you'll be able to pay off your doll, buying with credit is acceptable. It's like buying anything else with credit. You know your budget and know what you can afford to pay for. And really, it's the ability to budget that is most important.

 

I don't buy dolls on credit either nor do I own a credit card. I will save for a doll I really want,if it is one listed for sale I will ask about layaway if I don't have the full amount but I won't use a credit card.
Linda

 

If a doll comes up unexpectedly and I don't have cash [I'm willing to part with] in the bank, I'll use a credit card, but I'm a big girl with a good job and expendable family income so I know I can pay it off quickly. I also earn enough travel miles to fly my husband and myself to England every year so it's all good! I'm happy, he's happy!

I would never advocate the use of a credit card to fund a non-essential purchase for someone who is struggling financially.

 

Oooo, intriguing topic. Here's my take on it.
Personally, using a credit card is ridiculous. You are literally spending future money in that one instance you decide to pay for something using your credit card.
If you want something super luxurious, get the cash together instead of using a credit card.

But, people have their preferences. If they want to use credit, by all means, do but for me, I don't see the point nor the need. If you don't have the money in hand to purchase a doll or anything else for that matter, why bother?

It irks me when some people (not here but elsewhere) flaunt their impromptu credit purchases and use it to raise the bar somehow as if not having the latest and greatest was a sin of some kind. >.>
You can tell who has credit, too, by watching who makes the most purchases or the priciest.
I simply remind myself that the purchase is taking money away from them in the future and if they aren't already well off, they'll feel the pinch eventually. But I won't because I wouldn't do that to myself.

My main concern is who can really guarantee they'll have money coming in, constantly? Who can guarantee job security? Who can tell if life won't throw them a curve ball and one day, they won't wake up with their house on fire or their car not starting or their identity stolen? One would need money to fix all that and then you're stuck not only charging the damages but also paying off the bills from before, plus interest.

 

I don't believe it's bad though. As you said avianchild it is taking future money away from yourself but aren't you doing that anyways. When you put money aside for something aren't just keeping money that could be used for something else for something you want? It's the same really Your just using the right there and then and paying on it little by little. It's the same as if you were saving up.

 

While that's the general idea behind credit, it's a serious oversimplification in practice. It's not at all uncommon for people with cash-in-hand do use credit cards with benefit programs bonus points/travel points/etc.

Or they could just be people with higher incomes and lower expenses - unless someone is talking in detail about payment plans there's no way you can know that.

It's not the same at all - keeping money in a savings account until some future point where you spend it earns you interest while paying off a credit card/line of credit off over time costs you interest. The actual financial cost/benefit may be minimal, but there's no way you can call those two things the same.

 

I wouldn't buy a doll with a credit card unless it was extremely limited and it was my idea of a perfect doll or something. I usually don't even do layaway too often because I'm scared of what could happen in between.

Usually if theres a doll I want, I crash save to get it, selling off old things and making money :3

 

I don't have a credit card and don't EVER plan on getting one. Banks are evil places. So I pay in full cash by sending my money to paypal.