Buy On Clearance Now And Use CC Or Pay More Later?

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  #1  
Old 09-04-2011, 08:37 AM
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Buy on clearance now and use CC or pay more later?

DH won't let me go to Carter's this weekend to take advantage of their 50% off the entire store, extra 30% off clearance, plus I have 20% off a $40 purchase q.... Carter's is my favorite clothing brand, their clothes last a long time and I re-use a lot of my DD1's items for now my 2nd DD.

I could get dirt cheap items for my 3 children to wear for next summer... So, for example I could pay $2 for a pair of shorts that originally cost $10, etc.

Problem is, we have no money left until DH gets paid. So, I'd have to put it on our credit card.

So, what it boils down to is I could pay $40 now and get a lot of their summer wardrobe now, and put it on the credit card.... OR pay a ton more at the beginning of next summer when items are at their highest prices, but DH says we'll have enough money by that point to not have to put it on the credit card (but that's debatable).

Yes, we do shop consignment sales, but the Carter's sale this weekend would actually be slightly cheaper than even conisgnment store prices. With having 3 kids, I like to buy their clothes at the end of sale clearances the year prior, because it is always cheaper that way.

WWYD? Buy clothes cheaper now (but put it on the CC) or pay a lot more later, and maybe only have to put some of it on CC?

---------------
Well turns out we have some more wiggle room in our budget, we are being refunded a lot of money that was charged us in error- so I think I might go to Carter's after all. Any input still would be welcomed since at times we do run into this dilemma, thanks for reading.
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  #2  
Old 09-04-2011, 01:20 PM

RE: Buy on clearance now and use CC or pay more later?

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I think there are a few factors to consider:

1) Would you be able to pay off the Carter's shopping trip before the CC accrued interest? Yes, go ahead and get what you need. No, see below.

2) If you wouldn't be able to pay off the trip prior to the accrual of interest, how long would it take before the trip was paid off?

3) If you must accrue interest, just make sure that the total interest accrued, plus the cost of the trip do not exceed your savings or the trip did nothing but add volume to your storage.

Good luck!

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Old 09-07-2011, 01:56 PM

RE: Buy on clearance now and use CC or pay more later?

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We avoid debt like the plague, so having and using a CC is never an option for us. Our motto is, "If we can't afford it in cash, it's NEVER a good deal". This means I sometimes miss out on grocery or drugstore deals, but it teaches me to set aside money for times like that in the future.
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Old 09-07-2011, 02:01 PM

RE: Buy on clearance now and use CC or pay more later?

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I agree with PP, if you can pay off the cc before it accurs interest then YES, I would go!! But if you can't & it accurs in interest, then there goes the whole point of saving! Good luck! I shop like you do for my 3 kids, at the end of season clearance!!
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Old 09-07-2011, 02:08 PM

RE: Buy on clearance now and use CC or pay more later?

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I agree with PPs, it is smart to use a CC only IF you have GUARANTEED funds later to pay full balance OR else, swipe here and there and paying just the minimum amount,

is the surest way to debt-land. CCs often charge a ton of interest plus late fees if you don't pay on time.

the smart way to handle CC is NEVER CARRY A BALANCE. if you use it like you're paying in cash, you're going to benefit from cash back perks it offers. Otherwise, forget those cashbacks if you're earning 1% CB on your spending while they charge double digits interest rate on all your balance.
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