March 19, 2007

A fool and their money...

Damn, I hate when I do something stupid, especially when it involves money. I was raised with the financial belief, ďDo NOT spend money you donít have.Ē Sometimes itís necessary, such as in an emergency or if you are buy a house. Heck, Iíll even allow cars. Not everyone can pay for a new $18,000.00 car out of pocket. Other then a handful of situations, you just donít spend money you donít have.

Many of my employees at work have already spent their tax returns, and they havenít even filed yet. They figure they are going to get a large return so they went out and bought new TVs, computers and other items on credit planning on paying it off when they get their tax refunds. The problem is that a couple of them are going to be paying on these for a while because unless they are getting $10,000 back from the Feds, they arenít going to cover what theyíve already spent. ($6,000 TV, $1,300 Computer, $1000,00 Home Theater plus the other little things they are putting on their credit cards saying, ďIíll pay it off when my refund comes inĒ) And yes there are at least three people that work for my company that is in this situation.

Me, I donít do that. I try not using my credit cards to pay for anything unless I pay it off by the end of the month. If I donít have the money, Iíll wait to have to pay for something. That is until last summer. We had just gotten new windows put in the house and I was going to install a window air conditioner that didnít fit. We ended up looking at getting Central Air put into the house. You may recall the escapade regarding the electricity and contractors.

I was able to get the electrical done in the house, and paid for it out right. However the Central Air I thought was going to have to wait until this year. That was until I found a place that would finance, one year no interest, same as cash. I was still hesitant, but as much as I like to see Ktreva all hot and sweaty, she doesnít like to be that way. So I caved in and financed the damn AC with the intent to pay it off before the year was up. ďWhen we get our tax returnÖ.Ē

All was well. I kept saying, when we get our tax return, weíd pay off the loan. No finance charge, no hidden fees, nothing! Weíre good to go! Had our taxes done, found out we were going to be getting a bit more back then anticipated. NICE! Thatíll help cover the cost for the Packer tickets and then someÖ if I make it. We got the money and all of a sudden itís like I didnít remember my own philosophy. I got spend happy. New cell phone, new clothes, new shoes, buying trinkets and eating outÖ then I sat down to pay off the lawn and realized I had over spent, by a lot. Not horribly, but enough to put a crimp in my plans. Yes, Iím still getting the loan paid off, but now Iíve got to scrape up the difference for the Packer tickets. I had the money easily, I just couldnít control myself. It really pisses me off.

I just canít believe I did that.

Posted by Contagion in Stories about me. at March 19, 2007 08:16 PM | TrackBack

Well, you can always moonlight as a lounge singer.

I mean who WOULDN'T want Sean Connery doing "Wind Beneath My Wings"?

Posted by: Harvey at March 20, 2007 08:18 AM

It's amazing that people think that is free money coming back to them, it is money that you already gave to the goberment out of your check, it's not free money.

Instead of using that money to pay down bills, credit cards, etc people spend it like there is no tomorrow.

Of course though we rarely have that problem as we always take the large size vaseline jar when we have our taxes done. Still hurts but not as much

Posted by: Quality Weenie at March 20, 2007 11:19 AM

No one who has heard me sing, wants to hear me sing again.

Posted by: Contagion at March 20, 2007 05:43 PM