I’m sure when you saw that headline you thought, how stupid is that?! I might have, too. Truth be told, this is one of our smartest purchases ever. Here is why.
7 Years on the Couch
No, I’m not a gigantic couch potato that needs a crane and sheet of plywood to be extracted from my home. I’m a fit, 165 pound man, but our current couch has cheek prints. We bought our current couch at a second hand, modern furniture store. We live in a building that was built in 1962 with a mid-century vibe. The style is 75 percent of the reason we live here.
Anyway, we paid $900 for a copper and black wool Selig sofa made in the 60s that was in primo condition. After a year, we re-stuffed the cushions (the stuffing was brittle after 40 years). This cost us another $60 bucks, done on our own. The old thing has lasted. It’s worn and we’ve earned (not deserve) a new sofa.
Coffee and the Tube
While we were at it, we decided it was time for a new coffee table and entertainment console. Our existing set is a legacy from John’s Pottery Barn heyday with the credit cards over 12 years ago. Because we’re doing a bit of a style update, we thought it was high time to unload the black wrought iron and one-inch thick glass coffee table and console. Yes, they were a pain in the a$$ to move. Twice! The glass weighs more than John and I do.
We are upgrading to a walnut and glass coffee table and a walnut entertainment console. They’re both beautiful, modern pieces that are the style we love.
The $7,000 Decision
So, why in the hell would we spend this kind of money? Why not get a $2,000 combo living room set from a local warehouse/big box store and save $5,000?
First, I said we are updating our style. We’ve worked hard and saved the money to afford these pieces. Knowing what we can afford is being Money Conscious.
Second, we don’t want a formaldehyde filled sofa made in China. All of our pieces are being made by skilled U.S. craftsmen. We like to support U.S. manufacturing of quality goods. These will be well-built. Remember the furniture built in the 30s, 40s and 50s, the stuff your grandma and mom bought? This furniture will last at least 20 years.
We chose timeless pieces that’ll look stylish for years to come. We won’t want to replace them anytime soon.
Lastly, we’re donating our current furniture. The three current pieces will give us a 2015 tax write-off. This will help offset some of our cost come tax time.
This was not a whim purchase. We window shopped this furniture at Room & Board for years. We’ve been to the store so often we almost live there. One of our criteria was quality over quantity. This is another Money Conscious trait. Cheap quality is not what the conscious consumer buys.
How the $$ Worked
One of the benefits of buying our furniture from Room & Board is that it takes 8-10 weeks for the furniture to be handmade and delivered to Colorado.
Why is waiting 8-10 weeks a benefit? When you purchase a piece, Room & Board asks you to put 1/3 down and pay the difference before delivery. This worked out perfectly. We used our Frontier Miles card to pay the first 1/3 and immediately paid that off with the money we saved and earmarked for new furniture. The next payment came four weeks later when we got our work bonuses. Before we made our purchase, we know what our bonuses amounts were. Again we charged this 1/3 on our Frontier Miles card and paid it off immediately. Now that our delivery is just two weeks away, we’ll pay the final 1/3 with our Frontier Miles card and use the rest of the savings we earmarked for new furniture to pay the card off. Not only do we get new furniture, we earn airline miles for a future vacation.
Smart spending always feels good! This is just one of the fun things that Money Conscious people get to do.
Are you Money Conscious?