Taking On More Debt
After much deliberation we’ve decided to redo our bedroom closet. There’s a useless vanity area right next to our closet that is getting ripped out and our closet will be extended to take one entire wall of our bedroom. We’re still intent on saving money and getting our 0% credit card paid off in time to avoid paying any interest, but because of my strong belief that inflation will get bad in the next 1-2 years, we’ve decided to bite the bullet and spend the money for the closet now. As usual we’ll take advantage of free credit for the bulk of the cost.
Our friendly neighborhood Home Depot (a store that gets too much of my money) is offering 0% interest, no payments until January 2009. We’ve purchased everything we need to go into the closet with this plan. Now in addition to our other 0% credit card, we have this one too. We’re saving more than enough money every month to be able to pay both of these cards off without incurring any interest. And if I get my expected bonus at the end of summer, we’ll have absolutely no worries whatsoever.
About the only problem I foresee with this plan is losing my job, our major source of income. Of course, we’ve been living that way for just about ever.