Going Into Debt For Dolls - are the potential long-term consequences worth it?

I'm in debt currently because of dolls. I haven't neglected my essentials since I still live with my parents but being in the amount of debt I am for a 20 year old isn't good. So, I'm selling all my dolls, have one more to go (my suzu) and that should be enough to get me out of the hole.

I would say it isn't worth it, the stress of having a job to pay them off and having to go to school at the same time sucks. I see it now as something I shouldn't have done, but really most everyone is going to jack up their first credit card even though everyone says not to. o_0

Btw, I'm not getting out of dolls just taking a break and re-evaluating my characters and such and then saving ALL the money to get a doll, and not put it on a cc.

 

This is the same as a drug addiction or any other sort of destructive behavior. This can be the same for designer clothes or going out every night. It's never "worth it" and is never a good decision, but not all people understand that or just don't care. My husband's ex does that and my son suffers for it, but there is no convincing her. Some people just don't get it.

 

I concur, getting into debt for dolls, or pretty much any other hobby/ extra curricular activities isn't really worth it.
I think there are serious potential long term consequences... But it comes to mind mostly that i see alot of people posting that they're selling their dolls because they can't afford them, it's sad and the over spending makes them unhappy in the long run.

I personally use my extra money on doll stuff, so after my rent and bills are paid, instead of eating fast food or having a bunch of drinks out with friends i just save that money and put it towards doll things.
It's a pretty good habit, every time i spend $10 at McDonalds i think, this could be going to doll stuff.. Maybe i shouldn't spend this money.
I also save money by pushing myself to only spend money on doll items that i can't make. So if i can sew it, i won't usually buy it.

Saving for doll stuff for me has been really positive, because it's given me tons of self spending restraint.
I also do things like, if i sell a doll or doll items that money goes right back to doll stuff, and i keep personal spending money and doll money apart.

 

well i don't get a boy unless i know i can afford it, i only sale my boy if they refuse to work with the character i pick out for them, or the company mess up somehow -.-, but i paid all my layaway on time, trade for others things, and so far, haven't stress much on the money, except for when there a limited i want with all my heart, then i check my bank to make sure everything work out before doing anything.

it not worth going into debt for your hobby, because i mean hobby take the stress off of life, no point in stressing over your restress releaving hobby right.

 

Well at least you didn't buy a house you couldn't afford!

Nothing is worth the stress and worry of having a lot of credit card debt. I got into a lot of trouble with my credit cards last year running into the year, not just because of doll purchases, but because I had to move out of state unexpectedly. It sucks when you can't buy anything or save any money (the interest you earn on savings is minuscule compared to credit card interest) as you're trying to pay off your credit cards. Also if something happens, your budget will get thrown off, stressing you out even more.

Living beyond your means is a very bad habit that's hard to break. When you have to switch gears to being frugal, it's just like dieting. It's better to break the habit earlier on than later, so you can still work some spending into your budget. Good luck!

 

I really think that is totally not worth it, Please don't get me roung I love BJD and can't wait to get mine but in the end of the day its just a hobby, is it really worth the stress the angish of not having money for other stuff u really need, becouse u havine to pay ur dolls bill worth it? I don't think so. Pay it in installments if u must, but before going into it make sure u still have enoug money in the end of the moth for other things.

I'm really money consious and I beleave that the only way to go is 1 pay the bills, 2 save some (you never know when you'll have an emergency and will need the money) and then the rest spend it freely. You star spending more then what u make, then you'll end up recuring to loans, then credit cards then loans to pay up loans and you have a never ending circle of dept. not good at all.

I already talked to my fiance about it he says when we haveout home we make 2 savings, one is for vacations and the second one for our hobbys. why not do the same?

 

Okay, I had to go back and read the first post for this.

Putting $2,000 on a credit card for a doll and barely being able to make the minimum payments is a NO.

I have $4,000 in various credit card debts (my husband and mine, together, that is) from furniture and appliances from when we first got married that we are paying off. Once my other credit card bills are paid off, I would be willing to charge a doll and pay approximately $70 - $150 a month on it until it is paid off. I ALWAYS pay at LEAST double the minimum amount.

 

I use to be really good about saving up for a doll and then purchasing it. But this last two months, my addiction became really unaviodable and two dolls went on sale a week after each other, which were one of a kind. (Some one customized a Male Dia and a Male Deneb from Soom, from DA) And I was following those dolls for quite a few months,wanting them, and Dia went on sale, so I borrowed some money from my parents. A week later, Deneb went on sale and I made a deal with my parents to repay them if they bought it for me. Well, Tuition was due three weeks later. I'm lucky to have parents to help me with that.But I'm now making up for it. All my paychecks are going to them. I'm finding odds and ends to sale or do for extra cash for Xmas. Was it worth it? Heck Yes! I love my dolls. Is my addiction now unhealthy? Yes,but I'm trying to work on it... There should be support groups for dolls like AA meetings-DA Meeting. *laughs* Espically with all these holiday specials going on.

 

I agree there should be support groups, sometimes I feel like I need another doll for a fix and that I like the feeling of wanting another doll more than enjoying those I already have heh.

The temptation to get into serious debt is really strong and hard to avoid, but that's why I have noooo control over my families finances- my husband deals with all that. It sounds silly, but seriously, if he says I can't have, irregardless of it being my money, then I can't. It works for me because otherwise I'd be in a really bad place financially :P

I've been in debt once before and it's so horrible. It's best not to do it with something you currently love because you will probably end up hating it if it's something you can't handle.

I don't put "having dolls on credit card" in the same boat as "having debt for dolls" because I feel a debt is something you cannot handle.

 

From previous experience of being in debt i wouldn't risk it again. I was £900 ($1,200 (however, back then the exchange was different so it was more like $1,700)) into my overdraft and spent the total of three years in there. It got to the point where I wasn't sleeping and eating - I was just working ridiculous hours to pay it off.

To some that amount might not class as being much in debt but to me it's a fortune lol.

Now, I always make sure that I have money in the bank. I did have a large amount but I had to borrow it to my mum so she could pay off the gas/electricity yada yada ...

I wouldn’t get into debt because of these dolls and I wouldn't hesitate to sell the ones I have if the need was big enough. Living and essentials come before luxuries.

Also, I think I read somewhere here that someone has no sympathy for those who go in debt and cannot manage their money responsibly. I just want to say that sometimes we have no choice but to go into debt just to live. Gas and electricity is stupidly priced, something else is going up, the economy is in turmoil, jobs are being lost left, right and centre. I went into debt because of a uni exchange to Finland - something that wasn't an essential despite how life changing it was. I know someone who has massive cc bills because bills were put on it, inc vet bill too. I don't think it is stupid - it's a last resort and we do pay the ultimate consequence for it.

Debt is an awful feeling and I wouldn’t go into it again (if need be)

Rant over

 

All I can say for dolly debt is that at least you can usually resell them for what they're worth. My brother got into debt (About $5000, his CC's limit) from buying anime cells, manga, dvds, and old Transformers. The Transformers can kind of be sold at value, but cells have decreased in popularity and the rest of it is essentially worthless. Now he's in a position where he has to pay $100 in interest every month on top of about $100 in payments to make some sort of dent in his debt.

So my advice is to be careful. Especially to those on this board who are pretty young still and don't yet have credit cards. Don't spend money you absolutely don't have unless it's something really important (college tuition, hospital bill, etc.).

It's been frustrating for me here because I have a credit card but I can't use it because the bill gets sent back to my parents in the US and wire transfers are pretty expensive. I only use the cc if it's something my mom has agreed to pay for (like my birthday present or some kind of medicine or something). That means if I spend money on stuff, I absolutely HAVE TO have it in the bank. Saving is tough, and I thought I would never save the $1500 for my new computer or ever have enough to splurge on a doll, but I did and it felt good knowing that rather than putting it on credit I had paid for it with real cash and these things belonged to ME rather than the bank having some kind of cold, evil grip on me or the stuff.

That's my PSA. HEY KIDS, JUST SAY NO TO POINTLESS DEBT!

 

I was really fantastic with money until I was about 20 and life caught up with me. I don't like being in debt and I am working hard to pay my debts off, but I am not going to stop living for the sake of my finances. If I want to put a doll on a credit card and pay it off I will. Suzie Orman be damend. Oh gosh I don't even want to know what she would think of this hobby. She would probably loose her mind if she saw the price of a soom monthly lol.

 

I'm in debt, but it's because of student loans . . . they cover my tuition. I worked during the summers and have an on-campus job during the year to pay for everything else. It's scary when I think about the loans I will have to pay back even tho I know I take out much less than many other students, but it was pretty unavoidable . . . I need my degree unless I want to work in a dishroom for the rest of my my life

 

I never spend a cent that I dont have in hand. I dont ever encourage debt. ~Gus

 

Ditto that. I've passed on a couple of really awesome limiteds (Soom MD) because I don't want to put that on my Credit card. Most of the extra cash I have is leftovers from my student loans. Can't spend that on doll stuff.

I honestly envy the people who have the cash to be able to afford dolls left and right.

 

With you on this one Gus.

 

I've never had a credit card, and I never plan to. It's something that bothers my parents, who insist credit scores are absolutely VITAL to life....isn't it funny, then that credit ratings are dependent on you HAVING debt??

So the husband and I only buy things we can pay for in full. Our wedding + reception was under $2,000. We went a year with no car at all until we were able to save up for and find a nice little used car. Now with me interested in dolls, Hubby and I discussed for several hours over several days if we could justify buying a doll that would buy our groceries for four months (CherishDoll). He was afraid that if I got her, I'd want to buy more dolls and more stuff.

But if I bought her, and we were financially strapped again - would I sell her? Yes. I wouldn't WANT to, but we subscribe to the Dave Ramsey point of view. Being in debt is being under someone else's thumb. We're still paying student loans, as fast as we can, so we try to chuck any 'extra' cash each month into eliminating that. So I try to very carefully consider, would buying this doll make me feel guilty in the long run? Am I hindering my family's goal to be debt free?

Did want to point out to someone who pointed fingers at people who GET in debt in the first place - most people can't afford to pay university bills up front. But NOT going to uni pretty much guarantees you'll be stuck with a low-income job. In other cases, sometimes things happen you can't do anything about - chronic illness and doctor bills, medicines that aren't covered by insurance, etc. - if you can even afford health insurance in the first place (I don't have insurance). Or the car you're driving dies inexplicably and it'll cost more than the car is worth to repair it, and where you work is almost an hour away. Or sometimes a family member dies, and didn't set aside money for their funeral arrangements - and YOU get stuck with it. Funerals, I have learned, are expensive things. None of these are necessarily due to the individual's ability to manage money.

I'm somewhat rambling, so I'll sum up, I would never be able to go into debt for a doll, no matter the attachment - the guilt I would feel would leech away any enjoyment I'd have.

 

I've owned a credit card for over a year and never used it. I have used tax returns to buy dolls though. Otherwise it is purely saved money that is spent on dolls.

 

I don't have a problem with putting a doll on CC if you know you can pay the bill each month.

I had about $1,200 dollars in debt because I was buying things I needed (gas, groceries) and things I didn't (yarn, art supplies.) And my cc got canceled, but it was the best thing that happened for me because I got in control of my money and now I don't buy things unless I have the cash for it. Now I owe about $850 on my CC and I'm proud of myself that I got it together and raise my credit rating back up.

A lot of doll companies offer layaway now so you don't have to use a CC.

 

It's totally not worth it to me.

I've never even bought a doll with a credit card. I generally do lay a ways or have the cash in full.

Why? Because it takes me a long time to save for a doll with how much I make over bills and rent and car expenses. If anything goes wrong, I need that money for that first. I can't risk sinking my credit rating further by buying a doll on credit that I could never realistically pay back with interest and what not.