Mar
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12

Buying A New Bedroom Set With My Credit Card?

mike
  • I'm in my senior year at college and when I'm at home, I have an old mattress, it's at least over 15 years. It's worn out and I need one, I do have a small work study job that pays about 1100 per semester. But I have CC debt around 1800 on two cards, because of school related expenses and things.

    So I'm wondering should I get a new bed I need one, really. I'm thinking of a twin or something. So what do you think?


  • As long as the bed works and there aren't major problems with it, I wouldn't buy a new bed. Especially considering the current debt you have on your cards, I would not add to it. It's my belief that credit cards should only be used as a tool to improve your credit and that you should only charge what you can afford to pay off in full when the statement cuts.

    My thought is as long as the bed works and you get sleep, don't buy a new one until you can pay for it with cash.


  • Have you tried asking on Freecycle for one? Sign up for the Freecycle in your area and ask if anyone has a bed for you. You'd be suprised what people will give you. I got a wood 6 drawer dresser with mirror, matching headboard, footboard and bed rails for a girls room and it was in great shape. All for free. Try it!

    http://www.freecycle.org/


  • I wouldn't buy anything more on credit. You've already got a fairly hefty amount of debt relative to what you're making at the job.

    Have you looked at Craigslist or a similar site to see if you can find one either cheap or even free?

    If that's not an option, I would save the money and pay cash rather than charging more on your credit card. Otherwise you'll just be adding to your payments for months to come, and you'll wind up paying more for the bed than it really costs, since you'll be paying interest on it as well.


  • Not unless you can pay for it outright.


  • THink about credit as what it really is...borrowing. You can't afford the bed without borrowing, so you can't afford it. I would wait. It will feel better to buy it with cash.







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