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Author: mlk58 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 309855  
Subject: Re: 0% Interest CC Question Date: 2/5/2003 6:18 PM
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I've gotta tell you that it sounds like you are heading down the road to disaster. I have been there, so I know what it looks like! ;)

Your big problem is that you are looking for ways to get stuff BEFORE you have earned the money to pay for it. Those 0% interest deals seem like "free money," and it's easy to lose sight of the fact that you WILL have to come up with the money to pay for them. If you haven't been able to come up with the money to pay for them BEFORE you buy them, what on Earth makes you think you will be able to come up with the money AFTERWARDS? And what makes you think that, after you've actually earned that money, you are still gonna spend it on the stuff that is catching your eye now?

As new homeowners, you are going to have a ton of unexpected expenses ranging from miniblinds to bath mats to (possibly) a new roof or a sewer pipe. If you have already committed a big portion of your post-wedding, post-closing income to paying for all that stuff at 0% interest, it will be hard for you to cope with those expenses, and you will be tempted to put them on credit, and... there you are, on that road to disaster I was talking about. And don't tell me about all the wedding money you're expecting. Right now that's just pie-in-the-sky. Spend the wedding money AFTER you have it in hand!

I PROMISE you that if you only buy stuff when you actually have the money in hand, you will have much happier life. Really.

who has been there and done that to the tune of $132,906 in nonmortgage debt before she finally figured it out
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