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Buying HiFi at credit, anyone?

Has any of you ever bought a piece of Hifi with money you knew you did not have? Not talking about a 4-payment free interest deal when you have the cash anyway, I am talking putting the purchase on a line of credit or worse credit card and repaying it over many many months with interests to pay?

If so, no need to give a $ figure but how many months of net income did this represent and how long did it take to pay back? any regret? do you think it is a sign of ultime hifi sickness or true passion (not mutually exclusive!).
beheme

Showing 2 responses by tboooe

tboooe's avatar
tboooe
1,009 posts
 
For all those who quickly bash people who use credit cards:

how did you pay for your home? how did you pay for your car? what about student loans?

If you have ever taken a loan out for anything, then you cannot simply state that using credit is stupid or outright wrong.

I am not disagreeing that consumer credit card debt has to be managed carefully. There is no one right financial plan. Everyone has different needs and risks. Given today's low interest rates, it may make sense to take carry a little debt in order to keep money in your pocket. The interest could be worth it to some people. Some people dont mind paying more over the long term in order to get what they want now. This is not wrong.
tboooe's avatar
tboooe
1,009 posts
 
beheme: well put. i did not want to sound too financial in my response but you stated my sentiments very well. The bottom line, there is no right or wrong way to manage finances. It is an art form that must balance a variety of things including risk, interest rates, personal goals, etc.
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