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Just curious what forumites out there use layby as a means to get things they need but are also delaying the gratification of not using the buy now pay later scheme…I will be the first to admit that Cremin and I have used Buy now pay later mentality on a few things. Ie, a new telly and a computer I desperately needed for uni. Mind you, we treated it as a layby and paid it off as quickly as possible.
I constantly use layby as a means to buy things we need but also budgeting our money saavily. AAArrrrggggghhhh the beauty of layby. Popped into Harvey Norman just curious about dishwashers (the one luxury we want to treat ourselves to…) and found an absolute bargain!!! I was afraid they were going to push the finance bit, but when I asked about layby, that still did it. Thank god for that!!!
Anyway, i’ve lost the plot of my thread.[baaa] What do you use? Layby, saving or the dreaded buy now pay later schemes???
Cheers
Steph.Success is 1% inspiration and 99% perspiration.
I never use layby, if I want it I buy it right then and there on the plastic fantastic.
However, I wouldn’t pay for something that would not be easy to pay off quickly, I’m very bad debt-adverse. I always sleep on my big purchases and think them thru, but I dont think it matters what method you use, so long as you dont dig yourself a financial hole!Hope this helps- G7
ohhh…the dreaded piece of plastic… Yep, very guilty of using that too… Now hubby and I have both agreed only absolute necessecities on credit card and no buying things we don’t need with plastic.
We can use the ATM card, but not put it on credit. Has worked ok so far….
Success is 1% inspiration and 99% perspiration.
I really thought that I posted to this thread yesterday.
Hmm, one of life’s little mysteries.
Why layby. Put the money in the bank and keep saving there.
In the couple of months (or weeks) it takes to get the full amount together some retailer may well have your favourite item on special and you can save MONEY.
Pisces
I don’t use layby, neither do I purchase on a credit card. If I have the money, I’ll buy it, otherwise I can wait till I have saved up for it.
Well there’s nothing I want sooooooo badly (excluding things that money can’t buy[biggrin])that I can’t do without for a while.
Celivia
Nice to see you have discipline in *some* areas of your life, Celivia [rolleyesanim]
As to layby… the last thing I laybyed (I am sure that’s spelled wrong) was this old computer I am typing on now. Each month, I would go and pay the $88 a month or whatever it was.. X 2 years to pay it off- one of those harvey norman interest free deals that became vogue ten years ago? It actually made me feel good to pay it off, and I got to have the compuer meantime.
Sometimes, we just don’t have the money to pay for stuff front up. I really needed a computer, so that suited me. Had I saved up for it, in the interim I would have been doing without an “essential”. So sometimes, I think these things work.
Generally, I only use credit cards to pay for IP things- quantity surveying coming up (oh dear). That’s a lot of money, and I don’t have the cash- hehe
AS for personal stuff, it’s cash only.kay henry
Hey there
I Put stuff on Lay by just last week actually.. why??? caus i walked to work, saw some bargains i just couldnt resist and didnt have the 7 hands i would have needed to carry em home at midnight… so i was pretty much paying 55 cents as a storage fee (floor pollows, and a whole lot of other manchester items )
As for credit cards??? if you are able to pay off the debt in full on the day b4 its due, then i strongly believe that a credit card used wisley with a reasonable points system is the best positive cashflow investment you can have… in the last 3 years i have had over a dozen very nice lunches in the city, a digital camera and im now waiting on the vouchers for a TV… all with points made on the card. The points also cover the anual fee, so in actual fact the use of the card does not physically cost u a thing.
If its more then 10 bucks its on credit, the only time i will ever use cash is if i have negotiated a special “cash price” for an item.
I have paid 4 or 5 cents interest in the last 18 months, im sure the banks really hate customers like me lol
Cheers
Jason
We pay for everything on Visa, personal and business, do an Ibank transfer on the due date, thank you, 10,000 plus points per month.
Love the plastic.
RoboHi Guys,
i very much agree, with the guys on credit cards, many credit cards these days allow you to purchase goods on 44 – 55 days interest free, point systems, that allow you frequent flyer points, and with some retailers even bonus points.
i dont honestly believe in layby, and as i see it credit cards are good as cash… you can still negotiate a price, heavly or equal just as good if you were to pay cash.
another thing too with credit cards, and depending on different lending insitutes, they allow you discounts off your variable and fixed interest rates, with different loan products… again this is a win win situation.
also mentioned like Teacher K6, depending on your usage and amount of points acquired, credit cards can cost you very little or nothing at all.
just out of curiosity, i much prefer mastercard than visa, due to alot of travelling i do… but for the credit card users…
who do you think offer the best service, facilites and other excellent awards:
a) mastercard
b) visa
c) bankcard
or
d) amex cards (like diners and american express..)???
Cheers,
sisps.. got to love thats free frequent flyer points and free flights.
Hi
My wife & I seem to go the way of putting most things on the visa card & pay it off completely each time a bill comes. That way our cash stays in the offset acct. longer! The points earned help get the family to see my parents in the UK.
Layby – most definately! We have just paid off our new pigeon pair fridge + freezer (haven’t had a dedicated freezer for 4.5yrs.). We went to a large high st chain store where Wife haggled like mad (she made sure we both had scruffy daggy clothes on for effect). The end result was $200 off the fridge+freezer (tot.), with a toaster, kettle & steam iron thrown in for good measure. Having negotiated all that, Wife says “Layby please” and the poor salesman was so stunned he said yes!
[thumbsupanim]Off the thread slightly, one day I’ll tell the one about Wife negotiating the purchase of a new car!
Regards
Patrick
Well done Patrick, love to hear the car story going on the fridge story.
I’ve never been a fan of lay-by until i realised it is ‘off’ credit report (and doesn’t incur interest). so for items which you would normally save for and purchase, it is ideal particularly when you an item on sale or significantly reduced.
cheers
brahms
If you don’t ask, the answer is no!!
Hi Brahms
You asked for it! Here goes.
The tale begins with wife about 6 months pregnant (3yrs ago). We had decided that a new car might be in order. Our impression was that our ’86 RB Gemini wasn’t the best mode of transport for the impending production. Its still okay for me to use as a second car/runabout.
With car hunting at the back our minds, we went off shopping one day to a large town about 45mins away. We had already done the thing where I said I wanted a 4wd because “its safer” (secretly wanting to go bush bashing) and she wanted something a bit more normal (but not the same as everyone else, of course).
Almost the first thing we see as we come into town is a Subaru/Mazda dealership. The Gemini rattles into the carpark, wife unfolds herself and glares at me for not helping (I’m already drooling over an Outback). Success!!!!!!!!!!!!! Wife says “Wow, that looks nice, not a bad price – not bad but not good. We’ll see.”
A young man, smartly dressed, wanders over & introduces himself as “Fred” (name changed to protect his career prospects). It turns out that this is Fred’s first day at this dealership having come from a Toyota one. (Glint in wife’s eye).
We duly take car for a test drive, like it & have a private chat about the price. We go back to Fred & he says $34k. Wife has fit and immediately tells him that she will buy it and will not spend a penny more than $30k.
At this stage I’m pretty certain we are about to take posession of a low km, blue Outback.
Fred is wheezing and goes to talk to the boss. Answer is $33k.
$31k says wife, countered by a (?) generous $32,500.
This all goes on for nearly an hour. The final result was wife 1: dealer nil.
We got the car for $31,125. “Ah ha!” I hear you say, “what about the $30k bit”. Well Fred ended up throwing in a set of mats, a cargo barrier (inc. free fitting) & a tow bar, all valued at about $900.
Not bad at all I think.Last month we started to look int replacing above mentioned Outback as bread-snapper number 2 is making things a squeeze. We went back to see Fred. As we pulled up I saw him diving behind the spare parts counter & when we asked after him, we were told he was on holiday for a month!
Just remember – you may be doing a property deal one day and find out the lady you are dealing with drives a blue outback……….[satan]
Regards
Patrick
The dumbest question is the one you don’t ask.
Nice one Patrick!
In regards to credit cards I only use it for all property related bills (rates,etc) and life expenses such as petrol, food etc and pay it off at the end of the interest free period. Repairs for property I pay cash as I get a much less expensive bill from friends as a result. Also I use the card for booking theatre tickets or ordering stuff interstate as it’s obviously quicker and I just think of the frequent flyer points. Basically with cash and buying something for myself, I ask myself do I want it or do I nedd it?
Cheers,
Gatsby.
AS for personal stuff, it’s cash only.
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