Is it better to take out loans/credit to pay for furniture?  Or pay with cash and go little by little?
448712
A good rule of thumb is that if your furniture is going to help you earn more money over the period of the loan than the interest you pay, then it's a good idea to use credit.  \n\nSay you're starting an accounting service.  Your clients need a place to sit while meeting with you, but you don't yet have the funds to puchase furniture outright.  Without that furniture, the business will flop.  In that case it would be wise to use credit, since you're expecting the business to produce far more than the interest payment on the furniture.\n\nIf the furniture is just for your personal pleasure, you still need to calculate how much it's going to cost over the long term.  Then decide if your immediate gratification - and the loss of whatever you could have bought with that interest money - are worth paying that much for some furniture.\n\nIf you want a certain piece of furniture and you expect the price to skyrocket before you can save up enough to buy it, then a loan would offer some middle ground.  More expensive than if you had the cash today, but less expensive than if you saved up and bought it outright.  This fits in the first scenario above because you could then actually sell it and earn money above and beyond the interest.\n\nAnd one last thing I almost forgot to mention.  If you're looking at a specific SET of furniture, there is usually a big discount for buying the whole set vs. piece-by-piece.  Check the numbers, and the loan+interest might actually be cheaper than buying it piece-by-piece over time.  PLUS you get the immediate gratification and you don't have to worry about one piece going out of stock.
682264
YOU MAY BE ABLE TO FIND A PLACE HOWEVER IF YOU WILL MAKE YOURSELF A BUDGET AND STICK TO YOUR GUNS. IT IS ALWAYS BETTER TO PAY THE SMALLEST BILL FIRST THEN WHEN THAT ONE IS PAID OFF PUT THAT MONEY AND WHAT EVER YOU PAY ON THE NEXT BILL WHICH WILL PROBABLY BE LIKE DOUBLE YOUR PAYMENT THEN JUST KEEP ON GOING TILL YOU HAVE THEM ALL PAID OFF. IF YOU WOULD GET A LOAN YOU MIGHT JUST SPEND THAT MONEY ON SOMTHING ELSE AND NOT PAY THE BILLS YOU GOT THE LOAN FOR IN THE FIRST PLACE.
666845
Paying in one lump sum is usually greater incentive.  When you call them, tell you you will pay $xxx that day only, via online or telephone payment.  If they don't accept, tell them you are thinking about credit counseling, which usually abates interest and will make paying them much easier for you.
60080
If you have the cash and available credit, buy one home with the cash and put your availble credit towards a rental property, which will eventually pay for itself. Just a thought. :)
154255
That is true that when you buy a house they will check on your credit history, and it is true that there are other ways to buid credit, and it is true that you shouldn't pay interest if you don't need to.\nSo, it is your choice, in fact, you could finance your car, if you find another good use on the cash you have for it, like if you are thinking of some business and maybe will need the cash to finance it. Or if the momento of buy your house is close, you can use the cash for the initial pay, so you will need less money for the loan.\nBut if you wont use the cash, and that money would be just in a saving account, you should use it for the car, and get some other credits like in credit cards.\nSo, it depends on your needs, and your projects in general.
363439
If you're a home owner, the best way to get your hands on money is to cash out some equity in your home.  It's your money (from one perspective) and the rates will be about the lowest available on a loan.\n\nI caution you though, borrowing more to pay off your debts isn't the solution; replacing the financial habits that got you into debt with more healthy financial habits IS the solution.\n\nIn general, people in debt live on 'if-come'; they spend more than they make.  To fix the problem, you have to begin living on less than what you make, creating a surplus of discretionary income each month that you can use to pay back the money that belonged to someone else (banks in most cases) that you already spent.  In the meantime, they continue to collect interest on the money that you spent that wasn't yours.  It's a nice business considering how many people today don't see it for what it is.  Watch TV for half an hour, there will be plenty of companies just itching to make you a consolidation loan.\n\nIf home equity isn't available to you, shop for a consolidation loan with the lowest APR available and make yourself a promise to cut back on your expenses and pay the money back.  Get tough with yourself and decide what you NEED to live, and get rid of the things that made life more fun; they cost money that you can use to get out of debt.\n\nIn short, whatever your income is, it is.  Learn to live on it or find a way to make more of it.  Continuing to spend money that isn't yours is just going to keep you in debt, if not dig the hole deeper.
990802
As a former financial counselor, your question was a very common one. The only advice I used to give was that if you have bad credit, then chances are trying to get a new loan probably isn't the best idea. You should be trying to repair your credit. Getting additional debt would only affect your score negatively. Besides, lenders who sense desperate people with bad credit, will alot of times take advantage of the situation and grant you a loan with VERY high interest rates. Bad credit loans and cash advance loans are the same thing. I would do it the old fashioned way and save up. It takes longer, but you always want to look at the long term benefits, not short term.
807262
My personal opinion of these places is horrible. I went to one, and for a 700 dollar living room suite, they wanted over 1800 dollars for a used one with cigarette burns in it! I wouldn't do it. I would do one of two things. I would get a secured credit card, and you get that money after a year. US Bank is a good place to go for that. I would go somewhere and use a co-signer with a 12 months same as cash plan. That way, you get the credit, but you don't have to pay anything for the interest.
176971
Yes you should consolidate. It makes it easier to pay because you'll just have 1 payment. If you move around, you'll also just have to keep track of 1 loan instead of 2. Try this http://www.dlservicer.ed.gov/consolidatenow/welcome.asp . My husband and consolidated with them. They have a low rate and they offer a discount if you pay automatically from your account every month. They also adjust your payment according to changes in interest rates automatically. You'll just notice that your monthly payment has decreased.
170910
if the interest is low, you'll end up paying more if you pay your loan, and then put your purchases on a high interest credit card.\nif the interest is high, pay it off as soon as you can. \nI'm pretty sure, with school loans, the interest for the term is charged regardless of how long it takes you to pay the loan.
1177784
Credit card is fastest, but the loan will mean that you will pay less. If it is in a few weeks, I would suggest a loan because the credit card ameliorates monthly while the loan can take years.
181709
improving your credit takes time, the more payments you make ontime or early, the better your credit gets.If your looking to score some good poits, take out a loan, doesnt have to be too much, then make payments on it.
736726
You may want to pawn something to get cash immediately.  You can aso consider a loan called a "payday loan"  where you will be loaned an amount based on your proven paycheck amount.  Check out the interest rates and compare them before signing on the dotted line.
1108184
pay off your creditors now...if you just establish a payment plan with them, as u say your credit is poor...it well remain poor...after there payed off...then buy something on time and never be late on a payment...then you well establish AAA credit...
361354
Don't be tempted by everything you see.  If you can't pay cash, just wait.  It's safer that way.
238420
You are always encouraged to borrow because that's how credit card companies make money!  Tips I heard from those money management seminars:\nOnly spend what you have. \nUse cash, avoid credit cards, because seeing money getting out of your pocket gives you more sense of "hey, you are spending" then using the plastic card.\nPaying for debts, be sure you pay some principal with your monthly interest. This way you pay it off faster, ending up with paying less for interest.  Works well for home martgages.
908153
Your best bet is to go to a local bank.  Local banks are much more likely to loan on smaller amounts (I know, $50,000 is not a small amount) than other lenders.  If you go local, they are much more likely to want to work with someone who is moving in.