General Goals 1) to be debt free in 3.5 years 2) save lots of money

Monday, September 5, 2011

Advise, Advise, Advise. . I NEED Advise!

As you know I have to replace my phone. Something I was hoping to put off until December to give me time to save and buy it out right. I am switching form my Blackberry to an iphone. This has been planed for a while but I had wanted to buy it outright from the apple store to get the benefit of my credit card’s Purchase Security and Extended Warranty. I even had a post in the works to explain the benefits of these two little insurances that most people don’t realize they have on their cards. The after buying it on my card I would have paid it off as soon as I got home. However as the old saying goes the best laid plans pave the way to hell. And now my phone needs to be replaced in September. The lucky part is that my contract with Rogers us up Sept 20th of this month and I was planning on switching providers anyways. Not so happy with Rogers.

I have three options:

1) Go to virgin and apply for Super tab promotion get iphone4 for $99.  PRO: new phone, affordable price, cheaper plan then Rogers CON: hit to credit report, might not qualify since high debt low income ratio

2) Go to Rogers by sim card for 20$ and hock up BF’s old Blackberry to my number. PRO: old phone but small cost incurred CON: the promotional reductions in my phone bill I got a few months back will expire and my phone bill will go up, any changes made to my account to take advantage of the phone’s features will lock me into another 3 years contract with Rogers, BEING WITH ROGERS!!!

Option 3 BF suggested.

3) Got to the Apple store buy the phone on credit card. Than take it to Virgin and signing up with them on a month to month basis, no contract.  PRO: no contract, own the phone, visa warranty protection no need  to get Apple Care CON: visa debt and paying interest for a few months before paying it off.

I have to get the phone by tomorrow because I have a phone conference with a money coach and no way to get a hold of her to cancel it since I have no access to net, email or my contacts which were on my phone…. Also I have canceled on her 2 times last month because of other things going on.

ARG! I hate these kinds of decisions where they are rushed and f**k up my finances.  I hate being in DEBT,  I HATE BEING IN DEBT!!

Please Please let me know what you think!!


  1. How long until a new contract begins locking you into Rogers? Can you utilize friends phone for short enough time to save up cash for iphone? I would still buy on credit card and do month to month. However, even if you save only a few months of payments with interest before doing the final change, you could save a few nickels.

  2. I think I would try option 1 first - you never know, you might pass the credit check just fine. If a deposit is required, you could pay it since you're saving money on the iPhone. If that doesn't work out, I would go with option 3.

    I have to confess, I'm pretty biased because I'm so in love with my iPhone! Of course there are cheaper options and I'm probably supposed to tell you to go with those because you're in debt, but I've had an iPhone the entire time I've been paying off debt. And if it adds 6 months or so to my total payoff time, I'm okay with that.

    Let us know what you decide to do! Good luck!

  3. Since you dislike rogers so much I would do like Andrea said and try for option 1 first. If that fails then go option 3. I'm not sure of the two benefits you get for buying them from the app store on credit card but if you think they are truly worth it. Go with option 3 first. Once you make sure you don't keep the debt on your credit card longer than need be.

  4. Yeah I think I'd go with what the others are suggesting.... Option 1 and if that falls through then Option 3.

  5. oh no! I am torn between 1 & the last one! Good Luck with your decision....

  6. It was nice talking to you today! :) I would go with option 1! :)