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The Official 2008 ING Computer Fund Thread

Kaido

Kaido

Elite Member & Kitchen Overlord
Details here:

http://www.orionmods.com/blog/?p=15

Cliff's:
1. Sign up for ING account
2. Setup $20 a week auto-transfer
3. Buy a new $2,000 computer every 2 years 🙂

This is my second time doing it. It's a pretty simple idea...unless you're a heavy gamer, upgrading every 2 years or so is a nice way to go, but it's hard to drop $2k on a new system. But if you only have to part with $20 a week, it's not so bad...but then it's hard to actually save the money to do that lol. This is where ING comes in...it's your virtual piggy bank! It takes the money out automagically and keeps it safe from instant spending in your local bank account. Plus, it accrues interest, which can help you cover shipping costs when you buy your new computer! Basically it's a foolproof way to ensure that your need for speed is satisfied without too much wallet-related heartache 😀

Currently signed up:
Kaido
Raduque
 
I do $50 a month, to buy a new laptop every 3-4 years. I also have ING accounts for cell phone, home theater, vacation, new car, and house.
 
Originally posted by: sciencewhiz
I do $50 a month, to buy a new laptop every 3-4 years. I also have ING accounts for cell phone, home theater, vacation, new car, and house.
Click to expand...

Right on! That's a much better budget than I have 😀 But I've never exceeded even the $2,000 budget...in fact I got a PS3 with the leftover last time haha.
 
$2,000 every two years seems a little high for just a PC.

I spent about $1,700 on my gaming system in April 2006, but my July '08 upgrade was only about $700 since I kept the case, PSU, DVD and one hard drive.

My July '08 system: Gigabyte P43 chipset motherboard, intel E8400 3 GHz dual-core, 4 GB Crucial DD2, WD 640 GB HD, ATI 4870 video card.

It's working well so far, with Mass Effect smooth as silk at 1600x1200.

Still, with the extra $1,300 you could pick up an Xbox, PS3 and wii to go with your gaming PC.
 
Originally posted by: DaveSimmons
$2,000 every two years seems a little high for just a PC.

I spent about $1,700 on my gaming system in April 2006, but my July '08 upgrade was only about $700 since I kept the case, PSU, DVD and one hard drive.

My July '08 system: Gigabyte P43 chipset motherboard, intel E8400 3 GHz dual-core, 4 GB Crucial DD2, WD 640 GB HD, ATI 4870 video card.

It's working well so far, with Mass Effect smooth as silk at 1600x1200.

Still, with the extra $1,300 you could pick up an Xbox, PS3 and wii to go with your gaming PC.
Click to expand...

Yup...that's mentioned in the article 😉

Although it is nice to have the funds to keep up with things like monitor technology...21" CRT -> 24" LCD -> 24" LED LCD -> Hologram Monitor etc 😀
 
Originally posted by: newnameman
I guess this is useful if you lack financial discipline.
Click to expand...

I'd say so.

The average credit card balance per household carried from month to month in America stands at more than $8,000. Across America, that adds up to more than $850 billion in consumer debt, about one-third of the nation?s consumer debt.

Americans can?t blame credit card companies for their lack of self-control and desire to have things without saving up for them, which is much less expensive in the long run. According to Debtscape, a credit counseling organization, an $8,000 credit card debt paid off by making the minimum monthly payment at 18 percent interest will take more than 25 years to pay off and total more than $23,000.
Click to expand...
 
That's what a credit card is for. 😉 You can use the same idea for pretty much anything you want to purchase. People should really do this for a car purchase. But how many people have the discipline to do this for a car?
 
Originally posted by: Naustica
That's what a credit card is for. 😉 You can use the same idea for pretty much anything you want to purchase. People should really do this for a car purchase. But how many people have the discipline to do this for a car?
Click to expand...

How many people have the discipline to do this for a computer? 😉

I've heard a lot of wishy washy stuff but no one has joined me yet 😀
 
Hm I tried an account with ING but couldn't get all my info in time (SS card, birth records??) so they canceled it. I made some 20 bucks in the month I had it though. 🙂 I did just get an HSBC but already have >2K in it so... whatevs.

Heck my $1000 computer from two years ago is running awesomely with a new video card and extra 4GB of RAM.
 
I'm doing this for a house downpayment. It's scheduled for $150 every two weeks and then everything that's above what I've set as my safe amount in my checking account every month or two. We'll be buying in about 3 years, we're hoping to save about $7.5k a year towards it... If my stocks do well we'll hopefully be putting down a 40% down payment. The current value of the stock is $20k but there's some cool stuff going on and hopefully it will go up.
 
Originally posted by: krunchykrome
anyone else think this is a really stupid idea

is this targeted towards 8 year olds?
Click to expand...

Saving money is never a stupid idea. If this helps someone save, it served its purpose.
 
Originally posted by: krunchykrome
anyone else think this is a really stupid idea

is this targeted towards 8 year olds?
Click to expand...

Why is setting goals and working systematically to reach them stupid? If you wait for your finances to take care of themselves you'll never maximize what you could have done. You may do ok for yourself, but not nearly as much as you could have done.
 
Originally posted by: sciencewhiz
Originally posted by: newnameman
I guess this is useful if you lack financial discipline.
Click to expand...

If doing this does not demonstrate financial discipline, what do you think does?
Click to expand...

Saving money is obviously a good thing. I just don't see why this is deserving of it's own thread. It's not a new account paying a higher interest rate, and there's no special deal here. Basically, it's a post stating that if you sock away money in a savings account for a specified period of time, then it's possible to save up enough money to make a large purchase. This has been known for decades.

I just don't see what's so revolutionary about this. It doesn't seem like it deserves a thread.

For laughs, post this thread on Fatwallet Finance and see the reaction 😉
 
Originally posted by: Kaido
Originally posted by: newnameman
I guess this is useful if you lack financial discipline.
Click to expand...

I'd say so.

The average credit card balance per household carried from month to month in America stands at more than $8,000. Across America, that adds up to more than $850 billion in consumer debt, about one-third of the nation?s consumer debt.

Americans can?t blame credit card companies for their lack of self-control and desire to have things without saving up for them, which is much less expensive in the long run. According to Debtscape, a credit counseling organization, an $8,000 credit card debt paid off by making the minimum monthly payment at 18 percent interest will take more than 25 years to pay off and total more than $23,000.
Click to expand...
Click to expand...

Are you going to let yourself become a statistic? Just because the statistics say one thing does not mean you have to follow the trend.
 
from that linked article, wtf does the author expect the gov't to do? its not their fault people don't know how to manage their financial situation

but anyways, good idea OP even though it's pretty obvious. I already do this, not for computer at the end of 2 years but for random big purchases that i splurge on 🙂
 
Originally posted by: Special K
Saving money is obviously a good thing. I just don't see why this is deserving of it's own thread. It's not a new account paying a higher interest rate, and there's no special deal here. Basically, it's a post stating that if you sock away money in a savings account for a specified period of time, then it's possible to save up enough money to make a large purchase. This has been known for decades.

I just don't see what's so revolutionary about this. It doesn't seem like it deserves a thread.

For laughs, post this thread on Fatwallet Finance and see the reaction 😉
Click to expand...

It's not claimed to be the deal of the century, just a common-sense idea that some ATOT readers might not have thought of.

2/3-3/4 of all General Hardware threads are about buying gaming systems so saving up ahead of time for them instead of buying on credit could help at least a few people.

We have threads on what to buy for lunch, why not one on how to make buying your next PC painless?
 
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