Monday, August 06, 2007

Sofa Debt...

Yes we bought a sofa. In fact we went with a sofa which I did not post about before. Instead we bought a microfiber sofa with a chaise, so a slightly smaller sectional sofa. In the picture, it's a loveseat with a chaise, but we chose to 3 seater sofa so an extra 30". This will fit perfectly in our living room.

We bought it a week early but will get the sofa tax free in anticipation of tax free day. So we saved $60. We also used a coupon I had for $100 off the sofa which made it an even better deal. The original price of our sofa was $1092. Then we added on scotchguard treatment/5 year warranty for $103 making our subtotal $1195. Then delivery was $99 and tax should have been $59.75.

But with the $100 coupon we got free delivery and tax free because of the state law. So $1195 for a sofa seems like a deal to me. We also got free financing for 1 year 0% APR. Okay, now again DH wanted to just pay it off but I decided it was okay. And yes I've already set the money aside. So I may pay it off though at the end of the year when I cash out some stocks, or next week depending on csco, but for now I think we're fine.

So now I just increased our debt by $1195. I wonder if this is me treading the path of debt? To be honest I already feel the weight of the debt across my neck, but I still continue down the path. I wonder what a year will bring? I may not be able to take it and may end up just paying it off asap.

But it really is all about behavior, not the debt. I've financed stuff before on 0% CC and I often think about it and want to pay it off. But I discipline myself to pay $X every month and it's paid off 1 month before the date. Done this 6 times, and it's all the same. Guess it's like money already spent, but it's still weird feeling.

3 comments:

Boomie said...

You just took on student debt and then you go out and buy a couch on 0% loan? Is there a pre-payment penalty?
I dunno. I think I would have waited on the couch and then paid cash for it when I had the $$. But that is just me.
have you resolved the thing with your dentist yet?

Living Almost Large said...

Yep Boomie, I have the cash for the sofa, DH wanted to pay cash. I didn't do it for the not having cash.

I do have the cash for school but it would be cashing out all of our savings. I am not interested in cashing out all of our money.

Our student debt is deferred until DH graduates which gives us time to increase our income, and perhaps save cash so we can pay for the loans the day he graduates.

Also we are behind on retirement savings so we need to focus on maxing that out.

I am not about to wait to pay cash for the MBA. I don't know how that will turn out but I think it will pay back in spades.

Maybe people will post and make me feel bad so I just pay for the sofa. Or maybe not.

Boomie said...

Living,
Anyway, it's a very nice couch. You've got the cash to back you up.
Enjoy.