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

I don't think I'd be able to enjoy my dolls if I was seriously in debt because of them. I'd feel like my priorities weren't straight and I'd made a bad decision by purchasing them with money I don't have. Which is what credit cards are, as much as they can lure people in, money you don't have.

 

I haven't gone into debt in order to buy a doll, but I did forget about an existing debt I have with my dad when I splurged my savings on my newest doll He wasn't best pleased, but I'll just save up again

I'd never actually go into debt to buy a doll - they're nice, but they're not that important to me :3 If I miss out on that LE/OOAK then... oh well It's not worth the hassle

 

Debit is the way to go, hell screw debit, cold hard cash is the way to go. Cash is king and credit cards are tools that the masses of idiots use. I am strictly against credit cards, I'm sorry I want to live a successful and long life without worrying myself sick over credit scores and debt. Going into debt over anything is just moronic especially over a doll, you need to slapped if you use a credit card to purchase a doll and you know you don't have the money. <--Just my two cents.

 

I have never put a doll on credit, and never will. My view is that they are a splurge that I really don't need, but must have, so I must have the cash in my bank account. I save my credit cards for other things, like furniture, sewing machines/sergers, and video games...

 

Well, good for you for being... passionate.

I'm not sure if everyone who has a credit card is an idiot though.

 

Wow..... I.... well, I can't think of anything nice to say about this >.> Subjective much? I'm gonna leave it at that, before I get in trouble, my mother always says if you can't say anything nice don't say anything at all... but even so... I'm offended enough (as someone who has no loans and no credit cards) to mention it... I bolded the bit which particularly irked me...

Was there really any need to be so rude?

Ack! I have to stop now, I really do >____<

 

Wow, good for you for being so financially virtuous. Remember, people's situations are different and unless you know what their finances are, you should be wary of calling them morons and idiots (and needing to be slapped?!), seriously. Get down off your high horse and realize that not everything is black and white. Good luck building a credit score when you've never been in any kind of debt (talking debt in general here, not just cc's), and unless you come up with a considerable amount of cash in hand you will eventually need loans if you plan to own a car or a house. Of course, with no credit score the chances of getting a decent loan becomes considerably more difficult.

While I'm not offended by your desire to only buy dolls with the money you have in your bank account, this has got to be one of the rudest posts I've seen lately.

(BTW, when paying over the internet, a credit card is actually the safer way to pay.)

 

Are you from the stone age? I think moronic are the people that are strictly against credit card. Some people may not have the money right away, but they will get it in the next pay check and use that leverage to make their "doll" dream come true. I feel your post is very rude. ~Gus

 

I guess it depends on your financial situation. Did I have 1300 bucks to pay off my LE right away? Nope. But I did the math and realized I could easily afford 100-200 every month on a credit card.

Really, as long as you can afford to pay over the minimum charge (I often pay 200 bucks, even if my minimum is 30) on time every month, I don't think there's anything wrong with going into (a little bit of) debt. My habits allowed me to buy a nice car last spring -- as a first-time buyer the dealer was a little wary, but my credit score came back around 750.

 

hm, can i put your two cents onto my next credit card bill? How I love a balanced and informed opinion.

 

Haha, I love your reactions guys, this is a discussion not a debate, but everyone's opinionated. I am biased I'll admit, watching my parents go into deep debt and then struggle their way through it and becoming financially savvy, anyone ever heard of Dave Ramsey? That man's philosophies are my new religion. Credit cards are crippling the American people, if you have a credit card and use it wisely then good for you! It's just not for me. At age 17 and a already a stereotypical tycoon, it's sad sometimes how physical things like dolls can make us go, "Oh my god, I have to have this now it's a limited! But I have no money in checking or on my debit *gasp* wait! I have a credit card I can pay it later!" I mean, c'mon people. I am sorry if I offended anyone on the previous comment, but if you're not in debt and don't use a credit card, why so upset, lol? BTW, I said, "you need to slapped if you use a credit card to purchase a doll and you know you don't have the money." If you do then hell, by all means go for it.

EDIT: Oh, wait my bad! This is in debate *sigh* thought we were in General Disussion, ignore the last part! My apologies, haha.

 

But what is the problem with using a credit card and paying it back? I am not talking about spending money and not being able to pay it back for a year, I am talking about putting something on a credit card and paying it back in a month or two, maybe even less. Why is that an issue? I have done that. Why do I need slapped for that?

 

@ SystemRose - Could you be any more mocking, please?

As reasonable as that sounds, carrying a balance, even only for one month, on a credit card can mean a hit to your credit rating still and gives the credit lender a reason to jack up the interest rates. Really depends upon the credit card company, I think, but I know I missed one payment and had my interest rate jacked up.

(Yeah, I know that missing a payment isn't the same as paying it down bit by bit, but I thought I should add something non-flametastic to this thread.)

 

Actually, this is a debate. But whether it's a debate or a discussion, you should be able to give your opinion without resorting to name calling.

I can understand you being concerned about going into debt and it is possible to get into trouble with a credit card, but just because it's not for you does not make the rest of us morons.

Well, the name calling was just plain rude and unnecessary--lots of people in this thread have stated that they prefer not to use credit cards for doll buys with out needing to lay into those who make different choices. And, to be frank, what you stated in your original post was rather uninformed.

Debt is neither all bad or all good. Too much debt can cause a lot of trouble (as you are obviously aware), and it's not a place people want to be. But the idea that you can make it through your entire life without incurring any debt is not very realistic nor does it help your credit score (ironic, huh, to be penalized for not enough debt).

I had to buy a car to get to work, and that involved taking out a loan. I had to have my dad consign because my credit score was not strong enough--not because I wracked up debt I couldn't pay off, but because I didn't have enough. Buying things on credit and then paying them off shows that you have the ability and are responsible enough to pay off your debts--which is important when it comes time to take out loan for a car or house, or heck--even my landlord ran a credit check on me before I was allowed to sign the lease. I have, in my life, bought things on credit purposely so I could pay it off and have a stronger credit rating. Not saying that people should or shouldn't do that with their dolls, mind you. However, your ascertation that going into debt for any reason is bad is over simplistic at best. Few things in life are black and white and many people who carry some amount of debt are not being irresponsible, but pragmatic.

As for dolls, you know what, it all depends on the individual person and what their situation is. To belittle people for making different choices than you is foolish. Debt can be a complicated issue that doesn't have a one size fits all answer.

 

TBH SystemRose, it's not what you were saying, it's fair enough you don't agree with credit cards. I think you're very much in the majority in this thread.

It was more the way you put it across, eg sweepingly calling anyone who has a credit card an idiot. That may well be your personal experience (sounds like its very personal) but it's kinda rude to say it that way on a global forum, even in a discussion thread.

Some people are sharing their personal stories and feelings here about debt and cards, maybe things they don't feel they can share with others. And it's great that you've clearly learned from others' mistakes when it comes to debt, and that you feel strongly about it, but you really don't have to trash other people to make that point. just my two cents (plus an apr of 2.9% variable..)

 

Speaking as a mod - let's try not to take things issued as a general "you" personally. This is the Debate subforum and on this board that can translate to "opinionizing."

Speaking as a capitalist - I have never been in debt and don't consider my house loans to be "debt" - but I do have mortgages. However, I have never carried a loan of any other kind nor had a credit card balance. If people ARE going into debt over dolls...then they will have to live with the consequences and perhaps should take a considered look at how they are choosing to manage their personal finances. That being said, credit cards are certainly not for morons; they are financial tools.

 

Except if you don't have any credit history, you won't be able to buy a house or a car, unless you can pay cash. You may not even be able to rent an apartment. Also, traveling without a credit card is very difficult; hiring a rental car is possibly a non-starter.

I use credit cards; I use them often. However, I never charge more than I can pay when the next bill comes. I haven't paid interest on a credit card in over 15 years. I have, however, racked up frequent flyer miles and actual cash back from using the cards. It's all about discipline.

Now, if I could just use some of that discipline to get my lazy butt to the gym....

 

Gah, I had a whole thing typed out trying to explain myself and I hit the back button. Stupid self. I guess since this is a debate thread it needed some spice huh?!

Anywho I understand different people have different situations, but if you don't have the money, don't spend it, simple as that, but so many people have to have it now! They can't just work another week and then get it. As far as the crisis of not having a car, have a friend or a parent take you, take the bus, walk! There are so many options. Now if your work place is a 3 hour commute away then buddy you may need to get a new car if you can't rely on the bus. At 16 I worked hard and was able to pay off my car in full and drove off the lot a free woman, buy a used one that's my advice. Also, have an emergency fund with at least $1000 in it incase of car trouble, family crisis, etc etc. Now as for a house I'm working on it, but my goal is to never have to use a credit card or loan to get it.

I did not mean that anyone who owns or uses a credit card is an idiot when I said that credit cards are the tools that the masses of idiots use. I'm simply stating that masses of idiots are using credit cards. So that doesn't mean you. I'm simply coming from commen sense and personal experience. I am at fault if I made anyone feel uncomfortable or angered I do apologize for it, it's just a thread on a hobby site afterall. If you work hard and tighten your belt you won't have to use a credit card, but if everyone did that the economy would collapse and send millions of people into panic and god knows we don't want that.

So my message now is to all those responsible, upright, knowleagable people with common sense out there who do have a credit card and own it instead of it owning you then good for you I commend you, you've accomplished something that so many people cannot. I still see the credit card as a poison and I have succeeded in wealth and hope I will continue to. You keep using your credit card, and I'll just stick with cash, k?

 

Well put, and this is what I was getting at.

s0yuz - Oh I know. And I agree with you, it has not been the best idea I have ever had. I suppose all I was trying to get at is that while using a credit card is not as good of an idea as just using money I have at the moment, it does not make me (or anyone else who has done it) an idiot.

But, we have moved past all that now and I believe that was cleared up.

 

I hate it when that happens--it's usually on the long responses too

Options depend. When you're an adult and don't live with your parents, don't live in walking distance to work, and don't have good public transportation (believe me, I wish we did around here--I'd love not to have to drive everywhere) you need that car.

Dolls, being luxury items, don't demand immediate action--it makes the choice to do something like using a cc a very personal choice--and to me that makes it touchier than discussing car loans (which are common and exist for good reason). It's hard for me to pass judgment on other people's doll shopping habits, because there are a lot of factors that I just don't know. I'm not anti-credit card and I use mine, but I also recognize the pitfalls that you can fall into if you're not careful. Are other people getting in real trouble? Are they being careful? Should they have done differently? I really don't know, because I'm not in the position to know, and it's not my business. All I can do is deal with and make choices about my own finances.

Lol, things are different when you're no longer sixteen and living at home. It's great that you were able to do that with your car, but, well sometimes what's ideal is not feasible. I'm pushing you on this, because I want you to look beyond your own life and age group.

Sometimes you just have to think through not just what you want to say, but how you want to say it--that's where a whole lot of misunderstandings come from. As for it just being a hobby site...it is, but this topic is one of the more sensitive ones. Money and finances are kind of like that, and with this being a relatively high cost hobby doesn't help.