You Must Be Smoking Something!
We are moving our offices today. Life will be interesting for the next week, for sure. One of the things we are excited about is our new internet VOIP phone system. It will allow much easier remote officing, and it is going to save us close to $1000 a month with better service.
Of course, in order to make this happen, we needed to invest in new phone hardware, $19K worth, to be exact. It’s a no-brainer business decision, but $19K is a lot of money! The folks selling us the phone said not to worry, they could hook us up with a leasing company that would make it pain-free. Well, I have to tell you, any time I hear the word “lease” I think of Dave Ramsey and how he pronounces it: “Fleece.”
We decided to listen to their proposal. Their pain-free proposal was simple, we just needed to pay them $1050 a month for 24 months and we could get our phones! I am not great at math, but 24 X $1050 is more than $24,000 which is $5000 more than the cost of the phones! I thought to myself, “YOU MUST BE SMOKING SOMETHING!”
Bottom line is a 22% interest rate is crazy, and borrowing money for most things makes very little sense at all. So we sucked it up and paid cash. We have been saving for months for just these kinds of things and it is amazing how discipline and a time of need pair up and save you five grand!
But here is the best part of the story. Yesterday, the same day all of this got finalized, we got an unexpected check in the mail. Over six months ago we requested an audit on an account that we pay into every month. It turns out we had overpaid (by a lot, in fact, way more than we would ever have thought). You guessed it, the check we got in the mail was for $19K! Dad says, “Coincidence is just God’s way of staying anonymous.” Thank you Lord!