Use CC or not?

[Deir]

Here's my situation- I am trying to follow a Dave Ramsey style program and have been doing great. I have 200 left on one cc (soon to be gone) and then my last big one is 2300. I am having a baby in March and we have a few house things that need to get done. Like rugs over unfinished floors in 2 bedrooms. it really doesn't make sense not to do it before the babe because we are rearranging furniture and doing other cheaper renovations like painting and while we have stuff out of the rooms- I'd like to carpet them. Also would like to buy another freezer because I feel that will save money in the long run. I know we will be getting a large tax return- at least 5000. Next year we are planning on modifying DH's witholding so we don't have this large of a return. Anyway- I don't think I'll get that back until after baby comes. So....would you just put some stuff on a CC knowing that as soon as you get your return you will pay it off?
BTW- I know I will because I am totally sold on getting rid of the darn debt.

[Purple*Lotus]

Nope, I would only use mine for a serious emergency, and even then I would exhaust every other option before getting it out.

[Hannah32]

I would suggest not charging it and saving up the cash. Credit cards are just invitations to get back into the debt trap, especially for those of us who have to watch our money carefully.

[Drummer's Wife]

I would wait until you get your tax return. If you file asap after getting the w-4, it won't be very much longer. JMO, b/c I would avoid using CC unless it was an emergency (and actually, we don't have any so it wouldn't even be a possibility if we needed something -- so that's where I'm coming from).

[2cutiekitties]

Not!

What all the pp's said!

[sunflower.mama]

Sigh.

I probably would use the cc. I am a serious nester and it would drive me nuts to have those projects hanging out there as I waited for baby.

[nolansmummy]

Originally Posted by sunflower.mama

Sigh.

I probably would use the cc. I am a serious nester and it would drive me nuts to have those projects hanging out there as I waited for baby.

Me too.
I would go ahead, but only if you knew 100% they would get paid off. The thing i'd worry about is what if something else big comes up that you need the tax return money for?

[Delicateflower]

I might do it for the carpet, but no way for a freezer.

[TiredX2]

Can you just file your taxes earlier? You should have all the info by the first week of Feb, so could have the $ in your account by the 3rd week in February if you're all ready to go and e-file (for free).

[zoebird]

i agree re: the tax return. i'd wait for it.

i'm waiting on the darn w-2 form to come in from the one job. everything else is ready to go to the taxes! it's crazy!

[Deir]

Thanks! I always do my taxes as soon as possible so if I get DH's w-2's I might be able to make it work. I work alot of weird freelance jobs so I also need to wait for mine. I just always remember it taking 4-6 weeks after filing. Am I wrong? I really am having intense nesting issues! LOL

[JamieCatheryn]

If we are to get anywhere and if I'm to feel like I make progress not just steps forward and then backward, I cannot use credit. What I will do, though, is put extra payments toward the debt on hold to buy what we need instead.

[velochic]

If you need the money that fast, you can file your taxes without your statements, then file an amendment with the statements. I know many people I worked with did this every year because the company I worked for was very slow to get the paperwork out. I think now you can file electronically and then send the actual paper work later. Check into these options. We always wait until the last second because our withholding is set up to pay every year.

I would NOT spend the money until it is in your hand. This is why people get into debt... spending money before you have it. For all you know, the IRS could say that you've made a mistake and your return is only $1000. By the time you've appealed it and gotten it all straightened out, your cc could be jacked up with accrued interest. Just wait. It's only a few months and baby or not, it's really not worth the impatience to get things done to risk that something could happen and you don't get it paid for. Don't do it.

[Deir]

Oh NO! I knew you guys would smack sense into me! LOL