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

I am always buying my dolls on credit card. Basically, since I got into this hobby (August 2007), I'm constantly in debt. However, it's a little different because it doesn't concern the money I need for food/lodging/any other necessities. Anyway, my family is not supportive about my dolls, so, I have to buy them from the money I normally spend for my personal needs - like dining-out, entertainment, small things. It is not a big sum, so, it is quite difficult, takes five-six months to pay up the debt for the doll. What's worse, I can never pay it up fully because another doll comes that I must have... And it is difficult to be always short of money... On the other hand, now I see how much money I was just throwing away, for cafes and buying unnecessary things.
If it were a choice between a doll and paying the rent... no, never. I'm paranoid about being left without means to support myself. I don't have anyone to depend on, that's why. But maybe people who do that - they know there is someone to take care of them even if something happens.

 

I keep reading on, and not to cause offensive to every one, but they have the idea that "Debt=bad" Debt is actually a good thing, I worked as a debt collector, and if you dont have a credit file, as in you've never had a phone on contract, or never had a catalogue or a credit card, anything that builds you up to say "I can pay back on time, not miss payments" then your just as much a 'risk' in the eyes of a company as some one who has never made a payment but borrowed thousands.

I could easily save up for a dollfie, but yes that includes waiting and something always seems to get into my savings (Like a new tattoo >.<) but I could just as easily pay it off over a few months, on a credit card, as long as I make the monthly payment, what they want, I don't get charged interest as such.

I also think, you wont feel it as bad, £5/600 going from my account at once? Verus say, £50/60? It feels better even if you are paying more.
Plus if I were to pay the amount up front, what if then something happens?

Anyways, all I wanted to say, was building up debt, as long as you can pay it back, isn't a bad thing. It works in your favour. Especially if you come to get a mortage, they can see your able to pay stuff back :3

 

Debt does = bad, because the debt mostly considered here is serious debt that has accrued over a long time. Even if you were in a position to pay things back at the time, something serious could come up that prevents you from paying off all that you owe, and debt can build up around you very quickly.

Little debts here and there like being overdrawn or a monthly mobile contract are small fry compared with borrowing large sums of money for that limited you would rather die than be without or going off on a spree and coming back with a sofa, HD TV and a laptop and worrying about how you are going to pay for it all 18 months down the line.

I agree that you have to build a credit rating somehow, but I see a big difference between being overdrawn by £100 and being so deep in debt you have to sell everything you own to cover a quarter of what you owe. There's a big difference between situation a) "I have to buy this now or it will be gone, I'll put it on the cc and be able to pay it off in three months" and situation b) "I have to buy this now, it's so cool, oooh, three years interest free credit?! Yum!"

 

I have to say that I've put doll related things on my credit card, and I don't see the problem with it. I have very low interest and my debt is well managed. I make well over the minimum payment each month. While it will take me a little while to pay it off, if something were to come up and I needed money I could make the minimum payment for one month and have plenty of extra.

Dolls will never come before necessary expenses for me, but I don't see credit cards as a bad thing. I used to be scared of them, but once I actually learned what they were and how to discipline myself enough to pay them down, I wasn't afraid anymore. Credit cards are a tool that can help you as long as you are responsible enough to use them. They aren't something that you should be afraid of.

Speaking of needing good credit to get something, I had a personal experience before I had a credit rating to speak of. I went to Best Buy to get a cel phone. The phone was advertised as free with the purchase of a 2 year plan. Since I didn't have any credit to speak of though, they wanted to charge me $300 for the phone. Needless to say I declined. I had no idea they pre screened credit for something like a phone! I still don't have a cel phone because I don't really need one, but now after having a credit card, I've been able to finance a car at a good rate and get an apartment.

Haha, long ramblings~

 

I've used my credit card a few times for dolls over this year but ive always paid it back on time so dont consider it debt. Like Syryn using a credit card and paying back is very very good it helps your credit rate and like she stated makes it easier to get a mortage. My aunt uses her credit card to pay off all her bills each month and straight away pays her credit card off with her salary so to me credit cards and debt is good all long as its paid back.

 

Is it though, or is that just an assumption that's being tossed around? At what point does debt become "serious" and "bad"--that's going to greatly depend on the situation.

I get what Syryn was saying--when I had to get a loan for my car, my dad had to cosign because I didn't have enough credit built up--in other words I had very little credit history due to my lack of debt. I bought my computer (which was not cheap) on credit to build my credit score and paid it off within the three month same as cash period. Drowning yourself in debt isn't good and doesn't help your credit score either. However some debt isn't always a bad thing. The fact that I pay my cc bill on time and have a great deal of credit still open to me (that I don't want to use BTW) is far from a bad thing. Maxing out all your cards, being late on payments, etc. is bad for the credit score, but lots of people use cc without doing either of those things.

I would be a lot more worried about overdrawing than having some sort of balance on my cc (unless the cc balance is really bad). Overdrawing looks bad unless you have some sort of overdraft protection (which usually have fees attached as well)--is overdraft protection what you were refering to? What I don't get is when people hear "doll debt" they immediatley assume that equals a crushing, stressful, teetering on the edge of real big trouble amounts (realizing that this is reletive to the individual's financial situation--or at least people should realize that it is, in fact, all relative).

 

Thankyou for explain Taco, I'm not all that great with words and you've put it better then myself ^^

 

I couldn't go into debt for a doll I simply could not justify it. However I did sacrifice some of the things I love to get one.

 

Well, I kinda recently went into a bit of debt over dolls, and I do feel sheepish about it. Granted, I always pay my bills ahead of time, feed myself well, and I do pay way over the minimum payment on the credit card, but I feel bad still. This is mostly because I worry about everything and am harsh on myself... I don't let myself get away with anything.

To be honest, right now I have about $2000 on a credit card. Not all of that is due to dolls of course, the timing for everything was bad as well. My mom went on the road with her boyfriend, so now I basically have to pay for everything myself, and you don't realize how much you didn't buy before until you have to buy it all yourself. Clothes soap, dish soap, things like that, none of it is cheap. But I did order a Soom Sard with jointed hands in May, and that is basically $1000 right there.

Is it manageable? Of course. When I think about it, I could have $2000 paid off completely in 3 months or less, and that is accounting for paying bills, buying gas, and feeding myself adequately. It does still make me feel sheepish of course, and I don't want to be in this position again. I got my first doll, wanted to buy everything for him, had my fun... but next time I would like to actually have the money for that stuff when I get it. I guess you could say I've learned my lesson. I don't judge people who go into debt because of dolls, and I don't think you're a bad person if you do, I just know that I personally get totally anxious about it. I'm a Virgo, what can I say?

 

nope I would NEVER go into debt to buy a doll.

I am pretty money consious, I always have at least double my dolls value saved before buying them.

 

I'm still dependent on my parents and have yet to buy a doll, but I kinda doubt that I would go into serious debt for a doll. I admit I do like to spend money on things that I don't really need, luxury items in short. But even now, I hate the idea of not having much money, and spending it all on things I don't need.

There really is no reason why someone should be having serious troubles because they indulged themselves far too much. I don't mean something like buying a doll and having some emergencies coincidentally after. I mean someone who just keeps buying and buying, even knowing they don't have much money. It's just common sense to buy unnecessary/wanted things after necessities (most preferably while still having a large back-up fund or knowing you'll be getting a paycheck or something soon).

 

i think that no matter how much you love a doll, or how much you think its real or whatever,
in the end its not.

having a debt for dolls is very impratical. especially if you are using the money for rent or food.

 

Going into debt is no good anyway... However is not any worse than going into debt for vacationing, buying a new automobile or anything of the kind. It's an indulgence and you need to control it, but it is not as bad of a habit as gambling or shopaholics. It is easier however, to feel sympathetic towards a gambler and/or an alcoholic than to someone to spent his/her money on dolls.

 

i dont have a credit card
so i have to have the money saved to buy my dolls.
simple

 

I don't have the option, really. I don't have a credit card and I don't even have an overdraft on my current debit account. Unless I took out a loan or borrowed money from somebody else to buy a doll, which I wouldn't do. I really dislike owing money to anyone, even if it's only £5.

Personally I wouldn't go into debt, no.

 

I've seen a few friends and family get into debt through, over draft's, over spending and credit cards.
I will never ever get a credit card. But going in to debt for dolls; I think it'd be a matter of "Can I pay it back within a month or, Will this come up in the future when trying to purchase a house, or a flat to rent" I don't think it's worth the consequences.

 

I'm still dependent on my parents and don't have a credit card of my own. I've saved for two years now to be able to get the two dolls I want. I would never buy a doll unless I knew I had all the money I needed.

 

I'm terrified of going into debt over dolls. Sorry, but I worry about money too much. I'm holding off on owning a credit card as long as I can, too. I saved for 2 years (like Suu-chan ) to get my doll and I still have money left over- I don't want to drain my savings account just so my pretty can have a big complicated wardrobe.

Dolls, unlike the bare necessities of food or bare necessities of clothes and housing, don't seem to be worth going into debt over to me. They're a luxury, one I adore, but debt piles up fast.

 

I've been wanting a doll for a while and since I just got a new job I'm trying to get a doll and paying with a credit card. I know I can pay it off within a few months, but some people would think this is ridiculous... and I suppose it slightly is, but I have been depressed for a long time and have been scrimping money for months to get by. Now that I've finally getting some cash flow I've "treated" myself.