Every day another story, more of the same. Wall Street crumbles, falls, topples, drops, blah blah blah. People are being foreclosed on in rising numbers, bankruptcy filings are going through the roof... the companies that are failing the most? Credit companies. Credit cards, lenders, etc. When did credit become such a huge, can't-live-without-it deal in this country?
The mentality of so many people now-a-days is that they want something, are entitled to it, and want it NOW! They know can buy something with credit and pay it back later. Then they run into problems and have trouble paying it then, so they put it on the card. This snowballs in to a massive amount of debt and they pay and pay and pay. But what happens if you have a hiccup and can't put it on your card? Or when you start having trouble paying your cards? Then the problems grow even faster.
Now, I don't like credit cards, but this is a new turn for me. I have credit card debt that I am paying off.... what a surprise, eh? But I have since learned of the problems with credit and have changed my ways. I pay as much as I possibly can with cash. The look that I got when I paid my car payment in cash was priceless! The woman had to ask if I had a checking account or if I wanted to open one with them. She couldn't understand why I wanted to pay cash.
Now, to the main reason for this post. K-mart has re-instituted their layaway plan. That is, you take item(s) to the layaway counter, put a down payment on them, keep making payments until it is payed off and then you can take it home with you. The exact opposite of credit-cards that let you get the item now and pay for it later. I know that there are other smaller shops that do this for their customers as well.
What an interesting concept... paying for something before you get to take it home... Make sure you really want/need it. I'm not saying that you shouldn't use a credit card. I don't know your situation. But I am going to say that if you can get out and/or stay out of credit card debt, just imagine if you put the money that you are paying them and put it into the bank each month, how soon you would have enough to buy things with cash! Wouldn't it be nice to not have to worry about debt and credit card bills and car payments and someday even not worrying about a mortgage!?!?!
Think about it, and if it makes sense to you... Do It!