Bridges wrote:
Saving the tax isn't always the best option. I would like to get the Nikon 100-400 z lens which sells for around 2700.00. If I do that, I will have to front the 2700.00, which means that is money that could be used in a more productive way elsewhere. I would save around 162.00 but if it took a year to pay off, it would cost around 500.00 in interest. On the other hand, I could use PayPal which would give me a year to pay it off without interest. I know some of our wealthier members would say just pay 2700 at the end of the month and save the tax and interest, but not all of us are wealthy. Others may say just save up until you can pay cash and save the interest, but being retired, I have no real way of saving up since spendable money is less than when I worked full-time. I just do not like taking money from retirement payments for luxury items. Spendable income usually is allocated to travel between our homes in PA and Charleston, SC. I work part-time at Sam's club and use this money for my photography interests and while I could save all my income from that and purchase the lens for cash in a couple of months, at times I find other uses for that money as well. We just purchased a new refrigerator which my wife wasn't sure we need but I feel we do. Since my wife wasn't sold on getting the new refrigerator I agreed to pay for it myself. Things like that are what I mean by using money in a more productive way. I have it set up to pay it off in 18 months interest-free. I will most likely pay it off in a year to keep well ahead of having payments close to the end where if not paid on time would add all the interest for a year-and-a-half onto the bill. Anyway, my point is that while tax-free is a wonderful program and one which I use for small to medium purchases, it is not universal in its appeal or application.
Saving the tax isn't always the best option. I wo... (
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Not all here are wealthy.
Some of us actually have the self discipline to save up for what we want.
I know that is a weird concept today but works quite well.
If there is a MII version when we get the cash, so much the better as generally now it seems to not be a big increase in price with the update.
For me as well the shopping and study is half the fun.
Just a bit old fashioned I guess.