There are many rental companies here in the Midwest that offer weekly payments on a wide variety of items. Some of the more common items include furniture, electronics, as well as major appliances. I got caught up in the vicious cycle and soon found myself with payments of over one hundred dollars a week. This is my story and how I eliminated that debt.
Like most people in today’s economy, I have found myself wanting the best of everything, however I found myself seriously underfunded for these luxury items. It seemed like my prayers were answered when I stumbled across the ad that came in the mail advertising a Playstation 3 for under twenty dollars a month.
Obtaining the item was very easy just a few personal references and one week down and I walked out the door with my Playstation in hand. I have never felt so proud in my entire life. I was able to purchase a pre-rented device for ninety days same as cash for under two hundred and fifty dollars.
Having only ninety days to act I knew it had to be paid off or I was at risk for having to pay a inflated rate that would double the cost of the item.
The first thing I did was begin using coupons at every opportunity I had. I used them to purchase my household items at the dollar store and at the grocery store. I took the money that I had saved and placed it in a envelope. This added up to a bigger savings than I had anticipated.
The second thing that I did was stopped eating out. Being a person that likes to eat out a couple times a week, I eliminated that and just ate at home. I again took the money that I would have spent and put it in the envelope.
The last thing that I did was looked for extra ways to make money. I found that writing a few articles online a week would bring in some extra cash so I did that. I added that money to the envelope and within two months I had enough to pay it off.
Overall this was a great way to pay this debt off and I plan to use the same method to pay off other things that I have financed. I would strongly discourage the use of rental companies in general, however you can get lucky and find some bargains from time to time. If you take advantage of the ninety days same as cash you will come out a winner every time.