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Instant Gratification

Sometimes I look around and think I'm the only one that has never really financed anything. My SO and I have always saved until we could buy something outright so we don't have to pay interest. We paid for our house and cars. We have a couple credit cards, but we pay the balance at the end of the month.

My dad was just saying how you never hear anyone say "I'm saving up for...(whatever)" anymore and it's true. You hear "zero down" on every commercial and they make it way too easy for people to screw themselves financially.

Does anyone agree? Do you save til you can buy something? If not, why not? Is it because you really need it then or do you wish you would have waited? When my sister realized she signed a mortgage that was going to make her pay 3 times the purchase price of her house after interest she really wished she would have had a down payment or waited.


Asked by kabbot01 at 10:29 AM on Mar. 27, 2009 in Money & Work

Level 4 (51 Credits)
This question is closed.
Answers (4)
  • I know what you mean. I paid off my car and havebeen driving it for 2yrs paid off. I struggle (as a single mom/ no child support) to put money back for a newer car. Everyone thinks it is weird and that I shouldn't worry so much. Im like Im not worrying but some day my car will crap out and if I can't afford to put in $100/month into savngs how in the heck would I be able to afford a monthly payment. So I am trying to save so I can pay for it outright when I need it in a few years. I am paying house myts, but I want it jpaid in 15 yrs so when my dd is in college my house will be paid and I can help her pay for college...I feel on my income I have to prepare for the future but nobody gets it!

    Answer by ria7 at 10:35 AM on Mar. 27, 2009

  • *pmyts

    Answer by ria7 at 10:36 AM on Mar. 27, 2009

  • Now we save for the things we want....we weren't always that way. We used to do the 0% interest, then pay it off in the grace period, etc. But doing that, you are playing with fire. We have always paid ours off in time, but sometimes we were scraping to come up with that last payment before large amounts of interest was tacked on. In our old age (mid-30's, lol) we have wised up. We found Dave Ramsey, and we are on a cash only budget. The only 2 things that we owe money on is our house and hubby's car, if we had found Dave Ramsey before we purchased the car we wouldn't have that. We are paying the car off this year and from now on when we think we want something new, the money has to be saved first. Our plan for the future is to pay the house off in the next 5 years (we have 24 years left on the mortgage). We discovered that it was selfish to think that we are entitled to have things on the spot.

    Answer by slw123 at 11:01 AM on Mar. 27, 2009

  • You are so... right. There aren't many people who do as you are saying you do. That is why the economy is the way it is. That mentality of "instant gratification". Not planning ahead, impulsive, etc. We pay w/cash outright for our cars, our camper was paid for that way also. We don't go on extravagant trips each year, so the camper is our fun. We have 8 months income put away for just in case of an emergency. We have 2 credit cards for emergencies and if we do use them we pay them off each month. What some call "for a rainy day". We do owe some on our house. We weren't always in that kind of thinking but thrifty. Over the years have become more conscious because of making a few mistakes when not "looking before we leap". We don't make that much money, either.

    Answer by cat4458 at 4:26 PM on Mar. 27, 2009