I talked a little bit about this yesterday with some of the smaller purchases we've made at Ikea.
This past weekend we also made a couple of larger purchases and have plans for another.
I'll explain. My TV is recently out of warranty, and we have a blown speaker. The TV doesn't work properly unless hooked up to external speakers. We found a great deal on an LG home entertainment system at Costco.
It was $250.00 (plus GST).
- A new set of cutlery (price is wrong on the costco.ca link)
We looked at Ikea and found some cheapy sets that weren't super nice - and then back at Costco we found a great set for jus tunder $45.00 (plus GST).
It's weighted fairly heavy and is a set for 8 people, plus it came with some serving spoons/forks.
We picked up a new stand at Walmart for $110 (plus GST) as well as a few other odds and ends (Jordan wanted optical wire for the new home theater system) there for a grand total of $167. The new stand is tall, and matches the fish tank stand in the same room.
Everything looks fantastic!
We have borrowed the money from ourselves (our house fund) and have made a commitment to pay it back with any tax returns we get in a few months. If we don't get enough of a tax return to pay it back, we'll live like paupers for that month until it is paid back. We can of course, pay it back early (which is what I will try to do).
The other item's that we're looking at purchasing include:
- A new couch to replace the gross, stained ones that we have (budget $500)
- A set of new pots and pans (budget $250).
- The ones we have are starting to fall apart. This is another case of a hodgepodge of pots/pans (much like the cutlery). We'll have a few pieces left over, but not enough to cook like we do.
- Sears if having some AMAZING sales right now... if anyone has any suggestions for this, it would be greatly appreciated (see link).
- We MAY need another chair (budget $100 - Ikea Style).
If stains are all that is wrong with the couch (ie, no blown springs) you could buy a slipcover. That would allow all your shopping to come in under $1000. Did you decide against the Paderno on-line sale?
ReplyDelete@ Mom - The couch and the chairs have blown springs :( also funny stains and a gross material...The couch has a slip cover over it now that Cheryl gave to us...but that was a quick fix.. it too has become stained....
ReplyDeleteThe Paderno set will be posted tomorrow :D
I feel like you have forgot about your goals and are going on a spending-spree. don't lose your focus.
ReplyDelete@ Anon - My goals are actually becoming more clear. I'm in a place in my life where I really want to settle down. I'm finished living like a student. The items I'm purchasing now, with money that we have saved (we're not doing this on credit) are high enough quality that they will last us for years to come!
ReplyDeleteI don't believe that to save money and be consumer debt free we have to create living situations where we are un-happy.
One if my biggest personal finance role models, Gail Vaz-Oxlade, talks about finding balance all the time. This is our way of finding balance.
I love that cutlery set. Nice find!
ReplyDeleteFor your pots and pans - Canadian Tire always has amazing sets go on sale every month or so for 65% off - we got our Lagostina set for $150 I think and it was originally priced at $500. Well, or close to those numbers... ;)
Hello Jessie,
ReplyDeleteBe careful that you don't start lifestyle inflation. I agree when you need things and you have cash thenit's time to go out and get them. But I'd do it this way. I'd structure it as a loan from myself to myself. so if I took $1,000 from the housing fund, and I wanted it paid off in 6 months and I want to get a 6% return on my money, I'll put back $203.36 each month. This way I'm putting my savings away and some extra.
regards,
Jason
@ Canadian Debt Girl - Thanks! We're pretty pleased with it too!!
ReplyDeleteYou'll have to come by and check out tomorrow's post (we've actually already bought the pots and pans and found a fantastic deal!!). Thanks for the Canadian Tire Tip, we'll have to keep that place in mind if we make any more purchases.
@ Canadian Savings - that's certainly one way to go about it, great advise!
One thing to note is that Jordan and I are purchasing these items together. so if we spend $1000, we each owe $500 - which isn't so bad at all. I could (and likely will) pay a big chunk back on my pay day and he's talking about doing the same on his pay day.
Borrowing from a cash fund is better than using a credit card. While I agree a bit with some of the previous posters about watching that you don't go overboard with spending, being happy with your surroundings is important, too. Just don't go overboard and try to rationalize your purchases. Pay yourselves back ASAP!
ReplyDelete@ RainyDay - Thanks for the support!
ReplyDeleteI was actually quite worried about posting all of our spending we've done this week. I even considered not writing about it or mentioning it to anyone as I knew that not everyone would support this; so to the few people that have said that they do - it has been truly aprpeciated!!
I'm actually glad that I did write about it, because this is a personal finance blog, and these decisions we're making are quite personal and financial).
We certainly will be paying it back soon, I can promise that!
Wow, you weren't kidding about the 'spending, spending, spending'
ReplyDeleteI would probably wait to buy the couch, until your glasses and everything else is 'paid back' :)
but that's just me!
@ Frugal - if I've guessed what my new salary will be correctly, I'll be able to pay off 75% of my share of the spending next pay day (a week from now).
ReplyDeleteI like the shiny new cutlery, too :P we have a hotchpotch of some nice stuff, mixed in with the icky plastic handled kinds!
ReplyDeleteSounds like you're making your purchases wisely, but don't go too far overboard!
You are probably getting this type of reaction b/c your blog is really taking a different approach than before. For the past few months you've been concentrating really hard on paying off that credit card debt. Since paying off that debt, you are now in a new chapter of life where your finances are completely different and your living situation has changed as well. That means that us as readers also have to grow with you and support you in this new stage.
ReplyDeleteIt sounds like you are making very intentional purchases and are using proper funds to pay for them. It's always scary when you go from spending zero money, to suddenly having funds to buy extra things. Finding that balance between needs and wants is so tricky. Here I go talking about balance again... ;)
@ Rachel
ReplyDeleteThank you for your very insightful comment. I think you may be right that my blog has taken a bit of a turn over the last few days.
I was just talking to my mom last night about the impact of my credit card being paid off, going from 3 extra people in the house to none, and getting a raise. I've had some huge living situation/financial situation changes in just under a months time!
Although Jordan and I are buying a few things now - this isn't going to go on forever. The last thing on our list is a couch and after that we'll pay back our house fund and get back on track. I will still be able to reach my top three goals of the year and have a little extra for my student loan debt too.
I thank everyone for following me along on this journey.