As I was typing up that post, I was actually thinking back to all the times I financed something. Every time I was contemplating the purchase I remember thinking that 12 months is a commitment. I don't know what will happen in the next 12 months. It's kind of a gamble. You're absolutely right, it's not being snarky.
I've used financing promotions to get a lot of "expendable goods" before, simply because it's a lot easier than saving up and you get it that much sooner. I'm not the best when it comes to money, but boy am I great when it comes to those no interest promotions. Watching the deferred interest accumulate every billing cycle is an excellent motivator to get the balance payed off in time. And most of the time, I make sure to get it payed off WELL before the end of the promotion period.
But these financing promotions can be great in times of hardship. You (I'm assuming) saved up for a new washer and dryer. But for a family that's living paycheck to paycheck that unexpectedly has their washer and dryer blow up will benefit greatly from a 12 month no interest deal.
But this is way different than getting a $500 game console.
edit: Although I could argue this: Let's say you're single and live by yourself or perhaps still with your parents. You work hard, possibly go to school as well, and coming home to a few hours of gaming to relax is your one hobby. Your Xbox 360 gets the RRoD and you have no money to buy a replacement, but you can afford the $80/mo or whatever it is.
I've used financing promotions to get a lot of "expendable goods" before, simply because it's a lot easier than saving up and you get it that much sooner. I'm not the best when it comes to money, but boy am I great when it comes to those no interest promotions. Watching the deferred interest accumulate every billing cycle is an excellent motivator to get the balance payed off in time. And most of the time, I make sure to get it payed off WELL before the end of the promotion period.
But these financing promotions can be great in times of hardship. You (I'm assuming) saved up for a new washer and dryer. But for a family that's living paycheck to paycheck that unexpectedly has their washer and dryer blow up will benefit greatly from a 12 month no interest deal.
But this is way different than getting a $500 game console.
edit: Although I could argue this: Let's say you're single and live by yourself or perhaps still with your parents. You work hard, possibly go to school as well, and coming home to a few hours of gaming to relax is your one hobby. Your Xbox 360 gets the RRoD and you have no money to buy a replacement, but you can afford the $80/mo or whatever it is.
