Christmas money dilemma!

Broken_hearted

Off the debt interest free or not its debt and I'm sick of debt.

Snaggles

I think it would depend on how my parents would be if they found out. If they would have a massive strop and give you a guilt trip for the rest of your life then I would put the money aside for the camera. If you know at heart that they would say 'yes, it's fine, use it towards the debt if you prefer', then I would pay it off the debt.

But I don't think either option would be morally wrong - a gift is a gift - you give it freely and the recipient can choose what they want to do with it.

CAFCGirl

I'd pay it off the debt......

Besides with SLR cameras (ive got one) I find its best to think long and hard about the one you want, and then track its pricing over a few months, and then see if there is then one which is now better for the same money you would have paid for the previous one in that first instance....
I only say that because I spent a fortune on mine, and then 2 months later it was a darn site cheaper, and then a month after that, a new one hit the market with better specs for less than what I paid originally... GAH!!!

Gemmzie

pepe2008 wrote: »

Hi Pania,

If you had just received £70 as 'a gift' but not for anything specific then paying-off would be OK. However ( assuming the parents know about your debt ) when it has been given as a contributiion to something which they know is important to you, which you would not be able to afford normally, then I think it is important to use it for its intended purpose, Happy New year Pania. Pepe xx

Sorry I've equalled the poll again!

I think the same as Pepe. If it had been given for anything then it makes sense to put it towards the debt but it sounds like your parents want you to have something for you

slig

I went for use it as it was intended, however that is because I don't tend to get cash as a gift, and if I do it is for a small amount, say £15. I don't buy myself clothes much so I would use it for that.

Burlesque_Babe

pay it off the debt. Technology moves fast and by the time you next see them, if they insist on seeing what you have bought, the chances are it will be £70 cheaper anyway because something whizzier will have taken its place. If they don't ask, then the longer you have until you do buy it, so it might be even cheaper again!

How much more do you need to put towards it? Do you have that available or does it mean increasing your debt?

too_much_debt

Hi. I would pay it off the debt and save coins in a jar, I'm sure you would have enough by the Summer to replace the £70.

I'm saving 1p, 2p, 5p, 10p, 20p and £2 coins.

MrsTinks

I would stick it in savings (as debt is interest free ) and keep it there. They gave it to you for the camera and I think that is what it should be used for in that case. However it will be what? A year before you buy the camera (when you are debt free hehe) and that way come summer when your parents ask you can honestly tell them that you haven't bought it yet but the £70 are sat in a savings account for it when you have saved the rest and found the right camera

Mudbath

Hiya Pania
I'd pay it off the debt because you can't buy it out right.

Oh, and what is a garmin? xx

MrsTinks

Mudbath wrote: »

Oh, and what is a garmin? xx

SatNav system