About to purchase- Finance questions

rbpru wrote:
I am from the school that says you do not borrow money for toys. We are all one stroke of bad luck away from difficulty.

If you can get 7% on your investments portfolio with minimal risk, you are lucky. Many are closer to 5%.

We all have things that must be financed but I never considered toys among them.

Obviously there are others who simply do not want to wait. At least that is good for the economy. :W

What do you gain from this? You still spend money either way. The money just sits collecting dust until you have enough to buy something?

I always had a plan to spend while I was young. Once I hit 30s goal was to start saving. 40s...I would see how my 30s went. So far im only a year behind schedule.

My point being, 300-400 a month for a toy won't break me. I get to experience stuff that I otherwise wouldn't had. In my early 20s I had a hit car that I souped up and was a weekend drag racer. Lots of money spent. I'm glad i did it when I was young and money wasn't important. It was a great experience and met some great people. Had I waited I would of missed out on some great opportunities along my life time.

I value experiences over having a small amount of debt. I still pay an extra 15% toward my mortgage every month and auto withdraw 15% of my take home check to savings. That means any money left over I can send on toys :)