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Should I Spend Money or Save Money?
Ok everyone, me and my husband have been saving for our iMac for about 5 months now. With everything going on do you think we should save this $3,000 or go ahead and buy it? It's been a huge goal for us and we finally have all the money and now we're having second thoughts. We rent an apartment so arent really affected by the whole housing issue. We dont have debt or credit card issues or stocks/bonds or anything like that. We pretty much work work work and dont have anything to show for it except the cold hard cash we've been saving.
Should we spend the money or do you think things are going to get bad and we should save the money?
Best answer gets 10 points. Thanks to everyone who helps me decide.
We need the imac for photo, music especially (komplete 5, logic studio,etc), we've done the research and are tired of windows.
we arent really afraid of losing our jobs, we work for state benefits like food stamps, and we are getting more and more work by the day. So jobs is not an issue and we have no kids and no car payments or anything.
13 Answers
- Anonymous1 decade agoFavorite Answer
Hide the money before the government steals it. The price of everything is going up due to our money being devalued by the crazy spenders in government. Buy the iMac while you can.
- 1 decade ago
I feel you should hold off on the buying at this point in time. One thing is with the way the economy is moving you might be able to get it cheeper in a month or so. Also you may not be involved with the housing at this point , however you could be part of the banking problem latee that could leave yourself or husband on a job hunt or cut back in hours. Furthermore, you need to have a bit of a nest egg right now, thinks are getting tough out there and in sounds nuts but a person should have 3 to 6 months liveing expences saved for your on good.
I feel that you have save for it but, you should hold off and save a bit more for what ifs that might come up, after you save a bit more then go buy it.
BEST of luck and wishes, be smart and ahead of the game not behind the eight ball.
- ~RedBird~Lv 71 decade ago
You should save the money. You should always try to save enough so that you have 3-6 months salary/living expenses on hand in case of an emergency. With everything going on with Wall St., who knows when that "emergency" could arise. Banks are failing, companies are closing, layoffs, etc. Save the $$$. The imac is not a necessity right now. See how the economy goes in the next 6 months, then if you still have that money saved, buy the imac.
- 7 years ago
We are living times of INFLATION (Currency is printed more rapidly). Therefore, SAVING does not make sense on savings. You will lose your money.
Let's see this example. If you deposit $ 10,000 into a a Bank which gives you a 3% of interest on savings, you will have a "profit" of $ 300 (NO bank will give you this). Then you will have to pay certain taxes on that "gain" and minus inflation (In USA is about 3% to 4%) you will be losing money.
Can you see the example?
Your principal will decrease in value due to inflation. The best way is invest in your financial education and with that tool you will have an educated decision which other choices you can take such as 1) Business (Online, Networking Marketing Business, etc.), 2) Real Estate, 3) Commodities, etc Stocks are too volatile now. See my sources.
Source(s): http://www.theelevationgroup.com/go/?p=PAP5ef0f8c2... http://theelevationgroupreviews.blogspot.com/ - How do you think about the answers? You can sign in to vote the answer.
- ClycsLv 41 decade ago
It's up to you. If this is the only money you have saved, you might want to saving it & financing the imac. (if you can) or stock up on food & other supplies for a 3 month (or more) stockpile + a couple months rent, electric, etc. Then spend what's left on your iMac--that way you won't go hungry right away if the financial sh*t hits the proverbial fan
- Anonymous1 decade ago
do you need an imac if you are into photo editing or music software (pro stuff not crap like garageband....) then sure but imac's suck there slow go for a G5 or dont bother imo otherwise you sound liek youve worked alot why dont you 2 go on romantic holiday together :P but if u need the imac then get it if u dont its a huge waste of cash get a pc and a nice TV or something.
- Anonymous1 decade ago
In an economy where cash is approaching the intrinsic value of the paper it is printed on, wealth consists of potatoes.
If the economy does crash then a computer will have some barter value. Not as much as potatoes though.
- 1 decade ago
tough call, you do only live once so you should splurge, but is it worth it?
I would say just save the money and buy a cheaper computer.
Good luck and I wish you and your husband the very best!
- 1 decade ago
hello
i suggest that you Always have money sitting there just in case(eg fridge breaks down tonight) then you have money to go buy one with out any worry,
spend the rest how it makes you happy ;-)