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

I think it depends.

Going into debt temporarily isn't usually a problem as long as it's soon paid off; supposedly temporary debt is, after all, how credit cards work in the first place. I don't think there's any major issue with overspending in the short term if you know you'll be able to pay it off fairly promptly.

I do think there's a problem with going into serious or long-term debt to fund any hobby, including dolls. Hobby money is what is left over after financial obligations are met, not top priority, and I don't think it's worth risking your financial future for dolls.

 

In the following, "you" means "general you", not individuals:

There are more possibilities of debt than just the typical debt from taking on credit with the bank. If you borrow money from, say, your sister (or mother, or father, girlfriend, or boyfriend, or husband, or your wífe) - it is debt too, yet as long as you pay it off in the time you said you will, she won't ask for extra interest. Well, with this kind of debt, I don't see a problem (of course, it only works if you are also ready to let your sister (or mother, or father, girlfriend, or boyfriend, or husband, or your wífe)borrow money from you if she needs it, things like that have to be mutual).

I also see no problem with using a credit card if you pay it off every month, then it is just a means of payment.

I do see a problem with overspending and having debt with your bank, because the bank is not your sister or wife and will try tearn a lot of money from your debt with them. Usually it is not really profitable for you to take on a credit with the bank.

 

Everyone has to decide for himself whether it's worth it or not.
Personally I think it is well worth it to get a doll on credit, when it's a doll that's LE or soon to be discontinued. When it's a regular doll that's still going to be there for you to buy in a year or so, I can save. ^^

 

No, it is not worth it. Dolls are important, but are not worth it when you go into debt. I actually kept a wish list of the dolls and accessories I want them to havs so I can plan which are the ones I can buy at what time. Lots of factors prevented me from splurging. First time I wanted a limited doll, the computer hanged at the exacttime. Second time I wanted 2 limited dolls, my family had some trouble. Third, I have family and parents.
They are dolls, and it is preferable you enjoy them with responsibility instead of being drowned in debt. I can't enjoy something I bought from a loan I cannot pay back. I cannot go against my conscience for a doll.

 

I tend to be in debt at all times. I can't seem to help it. Before dolls even I had issues with money. However, I limit the amount of dolls (and have a limit placed on me in a way) I can buy and haven't spent very much on clothes as I tend to make or alter them. I do my own face-ups (though just learning)... so I don't see it being a major factor.

 

No. I've no idea why anyone would even consider doing something so stupid and irresponsible.

 

I try not to purchase over my head and if there is one I REALLY want I will try to sell another to cover the expense. Hope to be able to keep myself in line. THere are just so many beautiful dolls to discover.

 

No, I won't go into debt for dolls. I try hard not to go into debt for anything. (Vehicles are of course an exception. I'd never save up enough to pay in cash!)

I do save up for whatever I want. I sell things I no longer use, save birthday or Christmas money, or whatever. I work full time, and while I will never be rich, I am fortunate to make enough to be able to splurge on something nice now and then.

I hate the thought of being in debt. I would worry about overdue bills. I actually try to keep a certain amount of 'extra' money in my checking account at all times. This way if something happens, like I need car repairs or my dog gets sick or anything that *needs* done can get done. I refuse to let myself spend this 'extra' money on anything. I could go out right now and get a doll I am saving for, but it would cut into this stash. I won't do it. I'd personally rather save up for a while than take a risk of needing money for something important and not having it.

To each their own of course, but this is my personal feeling on it and how I manage my money.

 

I have never owned money to anyone - be it banks or people. Then again, I am the only child of a family that might be considered 'rich' by my country's standards.
My living costs always come first. After everything is paid (bills, taxes) I have money left for groceries and misc expenses - be it clothes, books or something else. I also set aside money for savings.
I keep my doll money in a piggy bank. Really. When I want to purchase something doll-related, I check how much it would cost and save that amount. I use my credit card to pay for it, then go to the nearest ATM and 'feed' the credit card with the money I have saved. Simple, really.

BJDs are hobby, my life does not depend on them. It's important to control your impulses when you know you'll be in money trouble later. If you go into (big and serious) debt for dollies, it's immature, stupid and irresponsible. Not only that, it might point to an uncontrolled addiction, much like oniomania.

Each on their own of course, that's my opinion.

 

I don't understand enough about money in the 'real world' as I'm kind of a high school dropout, but I would never go into debt over a doll. I've learned this because I AM in debt, to my very dear friend who has been so kind to me about this whole thing. I'm buying three doll heads from her, two of them very limited and expensive, and I hardly make any money, and being in debt is just a bad place to be. So once I pay my friend off I'm not going to make that mistake again.

 

Short answer: No.

Detailed answer: It is never "worth it" to go into debt unnecessarily for any reason. Sometimes you can't help going into debt, due to medical expenses, family emergencies, whatever. But for a luxury item, be it clothing, jewelry, a doll or any other status symbol (and anyone who says that a BJD isn't a status symbol to a lot of people hasn't been paying attention), it's not only foolish to put yourself in a financial hole over something you don't need, it's potentially damaging to your credit, your way of life and your future.

If all you want is a doll, buy one at Target, or make one yourself. If you admire BJDs, collect information and pictures and save up until you can afford to buy one outright. If you can't seem to get the money together to do that, how can you expect to pay one off on credit? Especially with interest fees and finance charges?

 

For me I guess it depends. I mean even as old as I am I still require help with my fiance's so yes and no. I mean I would love to spend all my money on getting dolls or other items. But I know that I have to be more wise and spend it on the things I need first and then spend money on extras. So I guess it would be worth it if you knew for sure that you could pay it off.

 

The first time I lived on my own, I got into trouble with debt. Much of the debt was for things I could not control (medical bills, lots of medical bills...more than any insurance could help with) but there were things I could have controlled as well. I learned the hard way, lived with family again for a while, and resolved to not get into such a situation again if I could help it.

Some have said it's better to be indebted to family than to a bank, but my family DID charge interest, even when I saved up money from my first job to pay for my first car. It was a cheap, old car to get me back and forth to work and school, and my grandparents paid the up-front cost - and I worked until I paid it all back, plus interest of around 20 percent. It was their way of teaching me how the real world works, and I was just grateful to even have a car. (Where I grew up there was no local public transit.) As a smaller child, I saved up my allowance of $1 per week until I could get the toys I wanted. My mother would buy me things I needed, and she did buy me non-essential things, but I was always expected to pay for anything "silly" myself. I guess maybe that's part of why I went a bit spend-crazy once I had a steady job, good credit and my own place, but I really have only myself to blame.

Thankfully I didn't get into this hobby until I'd learned my lesson, and I saved up for my first BJDs, either spending money that was already in my checking account or making small layaway payments on the one small credit card I had and paying them off during the same month. Now I have more cash to spend on things that aren't necessary, but it's cash I actually can lay hands on...if I were to go to the bank and ask for it, anyway. I understand not everyone has that opportunity, but it really is best. Even family and friends can start to get resentful over outstanding debts - the bank may charge more interest, but money problems between friends and family can damage relationships. Either way there's a risk, and every person has to decide for themselves if it's one they're willing to take for the doll they want.

 

I've never been in debt, and don't have a credit card, only a debit card. I don't like spending money that I don't have. When I want a doll, I put my disposable income to the side each week until I have saved up enough. I've heard too many stories about debt to risk it. >:

 

I would never ever go into debt for a doll. If I absolutely needed to have it, then I would try to negotiate a payment plan with the owner. That or I would set aside a small amount of money, month by month, to buy the doll. I would never take money from my necessities and spend it on dolls. As childish as it sounds, when I add something to my collection it becomes a part of me and I am not willing to part with it. That is why I am extremely careful (and frugal) about everything I buy.

 

You said this so well!

When I was a lot younger, my hubby and I got into debt when we had to charge a flight back home to bury our niece. It was unavoidable and necessary, but it took us so long to pay off our charge card (even eating ramen several times a week!) that I cannot see going into debt for something as frivolous as a doll.

 

I have to agree with this too on all parts, well said! NEVER is it worth it for a luxury item (for me at least). I like these dolls a lot but my credit rating is important to me. It is far more important for me to strive to stay as out of debt as much as possible, bills, health ect always will come first for me.

I have however over spent before which always leaves me feeling guilty. It's just not worth it. Especially when more important things come up, (car issues, health etc). Plus isn't it more fun to save up and have something to look forward too? (of course it sucks when limiteds come along >.>)

It's definitely something that is to each their own, I'm just speaking for me

 

That is so so so very sad... and really gave a reality check, put things in perspective. I am sorry for your loss

 

I don't see anything wrong with say, buying a limited doll on a credit card in order to bridge the gap between the ordering period ending and your pay coming in a few days later (providing you pay the card off in full) but spending money you don't have and aren't going to have any time soon just isn't worth it. There are far more vital things that many people are likely to end up in debt over anyway (school tuition, buying a home, medical expenses etc.) so there's no reason to add to your burdens over a hobby. It's no fun when you can't afford that limited you really want, but it's not worth putting yourself in debt for and most dolls can be obtained second-hand eventually anyway.

 

They say the average person in the developed world is never more than 3 pay cheques away from poverty... and I found out how true that is about 7 years ago. I had a very well paid job and the lifestyle that went with it, and back then I had lots of things on my credit cards because that was just what people did. Want to go on holiday, get a loan if the money isn't in the bank. That was how I lived and how all my friends lived and non of us saw anything wrong with it. Mortgage payments and lots of monthly expenses because we lived on credit but were good earners, made all our payments and no bank would ever call us on the amount owed.

Then I was offered a 'dream' job in another part of the country and my whole life unravelled in the space of 12 months. The new company had been quite deceptive about the state of their finances and were soon shedding staff like no tomorrow, they believed I could secure them new business so kept giving me assurances to the point where my old company finally hired a replacement for me. Just after this my new boss said that he was very sorry but his accountant had told him that they could no longer afford my salary and I was out by the end of the week! I figured no problem, I will just get a new job and get out of this depressed Northern town where there is little chance of employment, I will go back to London where it's easy to get work.

Pretty much 3 months later, after my car was stolen, twice within weeks, 2 job offers fell through, my computer died (I was trying to work freelance from home while I looked for a full time job) and my Landlord pointed out I had to have a job to rent my home, I was officially in real debt and soon homeless. This quickly spiralled into the whole mess of dealing with aggressive debt collectors and incessant phone calls from credit card companies and I became very ill with stress induced arthritis and was unfit for the job market anymore. I had no choice but to declare myself bankrupt and move back home to live with my mother who had to cook and shop for me for almost a year because I could hardly stand, let alone walk.

Why am I relating this Dickensian melodrama here? Well, I learnt the hard way. All the pretty shiny things I want and love can be bought without guilt or risk if I have the money in my metaphorical piggy bank (or literal piggy bank if you are Mirabilis!) but never again will I put something on a credit card or get a loan. One day I might have to get a loan to buy a new car but I imagine signing on the dotted line will bring me out in a rash! The economy is very shaky at the moment and no-one's job is safe. You don't always see the signs, sometimes the rug is tugged out from under you on a fine Monday morning and you will be reeling from the shock for months to come.

Debt isn't worth it. Sometimes we don't see living beyond our means as debt when we have a large or dependable salary. We figure that because we make all the monthly payments that this is "good debt"... there is no GOOD DEBT... just a debt the sharks aren't calling you on yet. Unless you have experienced it first hand it is probably hard to believe how quickly the happy shiny bank that likes to say yes will hand you over to the snarling, frightening debt agency that likes to make threats.

Dolls are beautiful and will make you happy, but they will also still be there when you have saved up, if not first hand then on the MP. Get the money first, then the doll.