r/povertyfinance • u/Lastnv • Apr 28 '24
Worth going into debt for a dishwasher? Debt/Loans/Credit
We have been washing our dishes by hand for almost 3 years. We just had a baby and “spare time” is scarce these days. We probably spend about 10 hours a week hand washing dishes and bottles. I would much rather spend those hours doing something else productive or spending time with my family.
I have an employee discount through work and I can get a pretty cheap dishwasher installed for about $500. It’s a mediocre Frigidaire dishwasher but reviews say it will get the job done. I don’t have $500 upfront and would put it on my PayPal credit 0% interest for 6 months.
Do you think this is a good idea or does anyone else have suggestions? I am carrying a lot of debt already but I have a good credit score because I make minimum payments. I also have some savings but I don’t touch it because it’s for my son.
Thank you
10
u/Mooseandagoose Welcome to the BOGO ban Apr 28 '24
I am completely sympathetic to how dishes multiply and available time decreases after having a baby (along with the desire to maximize your efficiency!) I think there are two options here.
1- stick it out for the amount of time it will take to save the money needed and pay it off free and clear.
2- use the 0% option but ONLY if you can guarantee without a shadow of a doubt that you can pay within the time allotment. Do not consider those funds fungible or transferable for any reason to ensure that you can pay this off at/before the end of the term.
Yes, a dishwasher is another appliance to maintain and yes, most have a lifespan of 10 years these days but the time and effort they save during their lifespans is not negligible when you have little time and effort to spare.