I read too many stories like this...

http://www.washingtonpost.com/news/storyline/wp/2014/10/16/she-bought-a-sofa-on-installment-payments-now-its-straining-her-life/

Focus on the big picture. 

If you give that a read it is about a fairly common poor family.  If you've been around Magazines.com for a few months you've probably heard me rant about rent to own places before.  I hate them.  

If this couple had never walked into a Buddy's.  If they'd saved the money rather than paid interest.  They could have bought the sofa, the IPAD, a bedroom set for the kids and probably had another $500 left over.   Nice things are awesome.  But look at the big picture here.   Do you think those children would rather have an awesome sofa?   Or 3 hot meals every day?   Heck, go buy a couple bean bag chairs for a year and save that money.

The title of the article "Why the poor pay $4,150 for a $1500 sofa"  should say it all. 

I went our to Buddy's rent to own and pulled up the furniture.   Not sure which sofa this family bought but I just picked this one.

http://www.buddyrents.com/furniture-rent-to-own/living-room/sofa-loveseat/?buddys_page=BHF_PID_127_CID_1130_MID

$38.99 per week for 75 weeks.   Sounds cheap!  $40 a week, I could do that.   If you do the math on that you will pay just under $3000.00 for that sofa.

I then googled the name of the great deal from Buddy's and found the same thing for $1223.50.

http://www.furniturecart.com/presley-cocoa-reclining-living-room-set-31501-lr-set-signature-design.html?gclid=CK65oeGJucECFahr7AodU1EA_g

If you were to save your $40 per week you could have this one in just 30 weeks. 

I'm not saying its easy.  When I was making $6.35 an hour and sleeping on the floor because I has ZERO pieces of furniture and no TV there were several times I took a long look at some kind of $30 per week items.   Like anyone else, I want it now!   Add in kids and as a parent you don't want them sitting on the floor.  You don't want them sleeping in your bed.   You want them to have the best.  

This article mentions an IPAD.   $1400 people are paying for a $500 or $600 computer.    YIKES!

Look, if you know me you know I have a deep hatred of interest.   If I could get away with it I'd never pay one penny in interest.  EVER!   There are some things that happen.  Life happens sometimes and no one is perfect.   But paying three times what something is worth.  People walk into those stores every single day.   According to the article some locations see as much as 75% in repo's.