[AndrewG]

I'm a student and find myself now in about $1K in debt that is chipping away at my soul. In a few weeks I will be getting a check worth about $600,

I figure I could put the $600 toward my $1000 debt and then work in the summer to pay off the remaining $400, and then save up for the RS-1.

OR I could buy the RS-1 now with the $600 and then when I work use my cheapo salary to pay the debt.

Technically the first option is 'smarter' but I like the second option better (lol) because (A.) I'll get the RS-1 now and can enjoy them, and (B.) Paying off a debt is better than saving money to buy something in my mind.

Both options end with the same result: Debt paid and RS-1 in hand. But the timing of them varies. Since there's not a pressing hurry to pay off this debt, would it be okay to go for the instant gratification route?

 

[grandenigma1]

pay down debt.

It is something you want not something you need.

 

[The_Duke_Of_Eli]

Quote:

Originally Posted by AndrewG I'm a student and find myself now in about $1K in debt that is chipping away at my soul. In a few weeks I will be getting a check worth about $600, I figure I could put the $600 toward my $1000 debt and then work in the summer to pay off the remaining $400, and then save up for the RS-1. OR I could buy the RS-1 now with the $600 and then when I work use my cheapo salary to pay the debt. Technically the first option is 'smarter' but I like the second option better (lol) because (A.) I'll get the RS-1 now and can enjoy them, and (B.) Paying off a debt is better than saving money to buy something in my mind. Both options end with the same result: Debt paid and RS-1 in hand. But the timing of them varies. Since there's not a pressing hurry to pay off this debt, would it be okay to go for the instant gratification route?

Just buy 600$ worth of lotto tickets and hope for the best

 

[darkninja67]

Hold off on the cans.
I was going to order some HD650s today (I just ordered K701s earlier this week) but thought better of it. I was trying to figure out how much pasta, rice and ramen I would need to buy in order to eat for a month.

 

[Purgatos]

Definitely pay off the debt.

Sorry, I'm responsible and no fun.

 

[vagarach]

Pay off the debt--you must always remember the time value of money.

[edit] unless of course this is a student type loan with a no interest until graduation clause. In which case invest the money and earn interest on it instead of paying off the loan

.

 

[DevilDog]

I don't know what kind of debt it is. It sounds like it could be a loan from a family member. If that's the case, pay off the debt. I let a family member borrow some money one time. Before they paid me back, they showed me into their bedroom and showed me a new 19 inch portable tv they had bought. At the time I didn't have a tv in my bedroom. It kind of upset me that they were using money they had borrowed from me to buy things I couldn't afford.
But if it's to a bank, yeah, go for the RS-1s.

 

[Cyrilix]

Pay debt first. The interest will hurt you in the end. Just think about what you would do with the money that you could save from not having to pay interest. You might end up with another set of phones.

 

[Cosmid]

Quote:

Originally Posted by grandenigma1 It is something you want not something you need.

Great point.

 

[cire]

debt: it's the American way!

 

[Cyrilix]

Quote:

Originally Posted by cire debt: it's the American way!

That's one way the credit cards companies earn their money, by charging you based on how much debt you have. As long as you can pay back the debt eventually, they would rather you be in debt than not.

 

[spaceconvoy]

Good question - I'm actually in a similar predicament. My leg is broken but I want to go rollerskating. I don't want to wait a whole month to let it heal, I'd rather go out and have fun right now. What should I do? [/sarcasm]

 

[Jasonharkin]

If it is debt to a family member, friend or on a credit card pay it off, however if it is a personal loan from a bank I would just order the RS-1's and get an extra couple of hundred for a nice amp

 

[smeggy]

I know what I'd do, but I'll try to steer you the other way. Pay off your debts. Believe me, it hangs like a heavy stone around your neck.

 

[GlendaleViper]

I'm terrible with money. Terrible. If I were you , I would buy the RS-1 and then take more debt so I could have the RA-1 to go along with it.

I am not you.

Thank the lord you are not me. Pay off the debt.