monthy payment myth
Little blog post on monthly payments.
I remember looking through a mail order booklet when I was young. It had all sorts of nifty gadgets for the kitchen and house. All with very low prices between 3 and 7 bucks with a few really fancy machines for up to $25. I thought they were a great deal, till my mother pointed out that was per month. None of the ads said how many months you would be paying for! I am sure the info was in the fine print somewhere, but the mere thought of buying something when you don't know the price seemed like a huge risk to me.
I was really bothered by the total cost of our house, but didn't see any other way to own a house. Saving up 100K or more while paying rent didn't seem to make any more sense then paying 200K for a 100K house.
Maybe we made the wrong decision on that one, but at least we in general avoid the monthly payment trap with all other items.
Little blog post on monthly payments.
I remember looking through a mail order booklet when I was young. It had all sorts of nifty gadgets for the kitchen and house. All with very low prices between 3 and 7 bucks with a few really fancy machines for up to $25. I thought they were a great deal, till my mother pointed out that was per month. None of the ads said how many months you would be paying for! I am sure the info was in the fine print somewhere, but the mere thought of buying something when you don't know the price seemed like a huge risk to me.
I was really bothered by the total cost of our house, but didn't see any other way to own a house. Saving up 100K or more while paying rent didn't seem to make any more sense then paying 200K for a 100K house.
Maybe we made the wrong decision on that one, but at least we in general avoid the monthly payment trap with all other items.
March 5th, 2010 at 07:53 pm 1267818797
March 6th, 2010 at 01:18 pm 1267881509