Black Friday Is Coming… Beware
Long time, no talk friends. I haven’t blogged much in months even though I’ve been carrying on in my own personal finance journey. However, something this morning fired me up. And in turn you’re about to get a scathing rant about my hatred of store finance offers.
So I’m listening to the radio (the Christmas music station, ‘natch) and a commercial for Ashley Furniture comes on the air. They are, of course, advertising their Black Friday deals. Now is the best time to buy afterall.
But the offer that they listed made me sit up (well I was in my car, but you get it) and take notice. You can buy a Tempurpedic mattress at Ashley Furniture by signing up for EIGHT YEARS OF FINANCING.
EIGHT FUCKING YEARS. Ho ho ho.
No, friends. Just no. Please do not do this. And if you have done it, please don’t tell me or I will yell at you.
If you can’t afford a $3,000 mattress unless you pay only $32 a month plus interest for EIGHT YEARS then you cannot afford that mattress.
You just can’t. It’s not in your budget. You can’t afford it. Go buy a Serta at Sears for $500. The Tempurpedic is out of your price range.
This has been happening more and more lately – especially now that the economy is supposedly rebounding after the recession. Big ticket item sellers are offering financing at ridiculously long terms. Car dealerships are now offering 80 and 96 month financing options. Just think about how much your car will be worth 8 years from now… do you really want to still be paying it off by then?
This is not normal and this is not healthy. Please, set up a SmartyPig for those big ticket items. Practice saving up for large one-time purchases. By all means, consider 0% financing offers that will allow you to pay something off in chunks over a year or so. But do not, for the love of all that is holy, FINANCE A MATTRESS OVER EIGHT FUCKING YEARS.
I might have a coronary if you do.
And, please, do your research before you buy anything. Now, around the holidays, everything is shiny and new and we’re all spending with wanton abandon. But we do not have to that. The only reason we’re doing that is because the consumer industrial complex is telling us we should.
Be smart. Plan out your Christmas gifts. Price-shop. Don’t feel compelled to keep up with the Joneses. You really can do it. You’ll save so much more money this way.