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

I was almost in danger of being in debt because of dolls. I try to organize my spending by having different funds: my college fund, my "on-the-go" fund, and my doll funds. I keep these from falling into each other as much as I can, but recently, my family was forced to find a new place to live within a month. It was really stressful, and with my graduation coming up, I had to pay for a lot of things my family originally would have paid for. Not that I'm complaining; I understand their position and was happy to watch over myself for a little bit. However, this included shortening my doll funds by a few hundred dollars, but I feel like I had no choice. I have to graduate. @_@;;

My family's situation was directly connected to the economic woes so many people are feeling right now. Luckily, we're doing fine now, and my funds are steady again. I'm ready enough for anything, now. ^-^

All in all, I think this hobby has actually helped me learn how to manage my money. I'm a slightly emotional person, so when I see a beautiful doll, I can't think of anything else. Luckily, I am using my head now. I've grown up quite a bit thanks to this new hobby of mine! But, the temptation dolls bring are like any other hobby - buying that new Nintendo DS, that new car, that new outfit.. you just need to understand your situation and have a back-up plan.

 

I'm glad i found this topic! I just paid off my credit card two months ago and my first charge since i payed it off was for a dollfie i just bought today.
While on one hand I feel a little guilty for charging her, I know that I can easily pay the debt off right now if I wanted to... but I'd just rather pay over two or three months so that way it's not such a chunk of change at once, and I'm at least building my credit at the same time. So i think that if you can easily pay it off in like 1-3 months without scrambling for money when rent/bills come due... then you can afford to charge things once in awhile.

 

I wouldn't have normally gotten a doll, but putting it into layaway/credit makes things a lot easier. My mom keeps hinting that it was a bad idea and that it's so much money...well, I make a fairly decent amount, and if I don't spend as much on frivolous things in the meantime, I will get something I like with my own money. I could have used my card, but I would rather pay something off and not owe any interest on it.

As far as debt, I would say as long as you're able to pay off other things, getting a doll is not bad. The only things I pay currently are my two cards, gas, and things i need (food, clothes, etc). On the other hand, if I didn't have a lot of money avaliable to me at some time, I'd rather pay for important things.

 

I don't think I'd want to go into debt over a doll . . . mostly because I have a tendency to feel guilty over making luxury purchases, and I don't think I'd enjoy the doll as much if every time I looked at it I thought about my credit card bill! I try to save up for things I want but don't technically need

 

I don't think any luxury item is worth going into debt for...I have a few family members who have gotten themselves into extraordinary debt for stupid things, and it's really scary to see the effect it had on them. I don't think I'd ever feel comfortable going into unmanageable debt for a doll, I'd have a permanent grudge against the doll and I'd feel kind of sick when I looked at it and I'd have to sell it to clear the feeling away...as odd as that sounds.

 

Ive never put myself in to a debt ive struggled to pay off, at times i leave myself thinking, that money could really have gone to something else and helped me out alot. But i never leave myself without money, i never need the doll RIGHT THEN AND THERE to where i have to spend every penny ive got then struggle later to pay off what i need to. I just couldnt do that to myself, no matter how much i love a certain doll.

I have made some purchases and then turned around to sell them, changing my mind about a doll character or mold. But i still dont spend too much to where im left without

 

I grew up po'folks, complete with Bi-Monthly Eviction Notices, What Do You Mean, We Have No Furnace and My College Money Is Not Your Booze Money.
So I'd go in debt for a doll roughly when the Lions win the Superbowl.
On the other hand, I view dolls as an investment, since they don't really devalue, unlike my other vice (paperback books.) So if I've got the bills paid and buying that doll will leave me with twenty bucks in my checking account, (savings is savings!) I'll buy the doll. And having been homeless and unemployed, I know how to stretch twenty bucks to feed me and my cats for a month, so that's no big deal to me.

 

That's a good point, akisawana - right now I'm in a situation where I'm constantly going, "should I be selling the doll?" because I KNOW that the doll won't have devalued very much and we're in need of money. Thankfully, I have a partner who is determined not to let me, and so far it hasn't come to that, but the point is, should it, they ARE an investment (or at least a good buy): if you have several, you can always -heartbreaking as it might be in some cases- sell one to ensure you CAN make rent.

 

When I was in my early/mid 20s I made some big mistakes with credit cards and spending more then I had (from little things to big things like my first computer) I didn't think at the time and eventully it took its tow on me. Now that I am close to 30 I am finally getting my finances under control.

I have a jar on my desk that is spacifically for my first BJD (I still don't know which one Ill get first though, lol). My bills will come first now so that in hopes of when I finlly get my doll I won't be broke, lol. But at the same time if an emergancy comes up, I can also use that moeny in the jar to help out when I am in need.

Now, Im not trying to make credit cards bad, its just a matter that I know they are way to tempting for me to handle.

 

I would never ever go into debt for a doll; there is just no way I would sacrifice financial security for a luxury item, no matter how pretty it may be.

For me, it's as simple as that.

However I can definitely see the benefits of having dolls as investments for the bad times although they might not sell in time for you to have the money you need.

 

I also wouldn't allow myself to go into debt for a doll, or any luxury item for that matter. And while having a credit card would be useful in some cases, I would only really use if I know I have the money on hand (at the very least most of it), or am able to pay it off in a very timely manner. Having a roof over your head, your bills paid, and food on the table should be much more important.

Myself, I set aside a certain amount of money each week or whenever I am able to specifically for doll related purchases. If there's a doll that I want, I'll wait and save up for it that way. And if that doll is limited; then tough luck, if I don't have the money, I don't have the money.

 

I couldn't go into debts, too. Just not the right thing, I guess. You cannot be sure of how rich or poor you'll be after a year, even after a month. And debts can be understood only in one situation - when you don't have your own money for really necessary things, like food and other.

 

I would never go into debts for probably just about anything I buy. I always have the funds arranged for what I buy even if it's on a credit card. If I can't take care of my finances for that item then certainly I'm not ready to have that item no matter what it is. Well at least that's my motto.

 

When I got my credit card, my initial plan was to do exactly as the original poster described.
I would buy things using my card and pay the balance immediately, never really buying anything I couldn't pay off within a month.

Where I screwed up was, after my Dad passed my Mom was going to buy (or help buy, depending on what it was) my brother and I each something with the life insurance money. My 'item' was a Nikon Camera, a D60.
When I was originally ordering it, Mom told me that if I put it on my credit card, she'd give me the money to pay it or part of it.
And somewhere along the line I apparently 'owed her money' and she told me that I wouldn't be getting any money to help pay back my credit card.
At this time, I was out of a job.

(Incidentally, my Brother's 'gift' was a trip to Vancouver for Anime Evolution that I got to attend as well since I drove down there.
Which is where I saw my first BJD. I promise you that trip cost more than the camera, and that's probably the 'debt' I owed my mom...)

There was also another similar incident with my mom where I paid to have Dad's dog put down (too much for the 3 of us to handle if she ever got into a fight with our other dogs) because the SPCA wouldn't take her.
Same thing happened again...

I should stop listening to my mom when she says things like that...

The balance kind of got away from me, though I did manage to pay some back while I DID have a job. (I do have one again, though!)
I probably should've paid the money I spent for my AoD Rao on my credit card, though I don't really regret the purchase.

I do realize that I've got to pay back my debts (to the credit card THEN to Mom) plus continue to pay my share of the household bills before I can do more than just dream about buying another doll.

(Sorry, Mods, if this is a meant-for-livejournal post. I started writing and it kinda got away from me...)

 

If you don't have the cash then don't buy it, just save up.

It isn't worth it, just have some patience and save up.

 

I think if you can manage your finances just fine, then cash or charge, it's up to you what decision to make.

 

I would not think it is a good idea to go in debt for a doll, I mean... it is still a doll. It is not something you will die without. Or maybe you will if you are into BJD's really bad. If the doll is still around when you have saved up for it, that seems the best option to me. If the doll is a limited, that would be a harder decision.

 

My grandmother says I don't have my priorities straight, but if it was between going into debt for a doll and being able to eat everyday, sleep under a roof and whatnot, it's obvious for me. I've never wanted something so bad I'm willing to go into debt for it, as nanlady said, a doll is a luxury and I don't need it.

 

No the potential consequences aren't worth it. You're just tempting fate if you spend far beyond your means.

 

A doll is supposed to be a source of enjoyment and happiness for its owner. If said owner is up to his/her eyeballs in debt because of said doll and can't repay said debt, then where's the fun in that??? It defeats the purpose of the doll, not to mention totally blowing the owner's credit score and causing a litany of problems.

If I see an expensive doll, like it, and can afford to pay it off, then I'll buy it. If I don't, I can live without it! I'd much rather be doll-less and debt-less than having an awesome doll and a huge pile of debt to pay off.