TAKING
TIME
by Rebecca Escort
Penn State
Extension Home Economist
For Lehigh County
Avoiding the Rent-to-own
Temptation
When’s the last time you said,
“I want it now. I don’t want to
wait.”
Kids say that all the time, don’t
they? Well, sometimes I find
myself saying it, 100. I want a new
linoleum floor in the kitchen
NOW. I want the lawn to be weed
free NOW. Waiting is difficult,
and our culture does little to
encourage the practice of saving.
Instead it tends to promote the buy
now-pay later strategy. Instant
gratification is quite popular.
For some families, the desire
ends up taking them to rent-to
own store. It may be the only
option they see that stereo or
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■Bechielsvllle '
PASSMORE SERVICE
CENTER, INC.
1108 Rout* 100
610-387-9084
TRI-BORO
CONCRETE, INC,
438 Locum St
717-248-3095
1-800-632-9018
East Earl
GOODS LAWN
& GARDEN CENTER
Routs B
717-354-4028 EM. 34
>wn
EQUIPMENT, INC.
RhMim Extl-RL Ml
Ellxabathtown, PA
717-3*7-131*, 717-053-5057
Elm/Lebanon
BOMBERGER’S lawn
& GARDEN
Elm: 717-554-4663
Labanen: 717-272-4158
EPhrata
WES STAUFFER
ENGINES & EQUIPMENT
21 Ptoaaant Vtflay Rd.
717-73*-421»
Ephrata. Honhov
HOLLINGER’S lawn &
GARDEN EQUIP.
Ephrata, PA 717-738-1131
717-456-2710
Harahay. PA 717-533-40*0
DISTRIBUTED BY KEYSTONE STIHL
refrigerator or bedroom suite now.
The stores do everything they can
to attack buyers “No money '
down. No credit check. Free
repairs."
How tempting! The family with
little savings and lots of bills may
be very interested in this kind of
offer!
But this kind of offer can lead a
family down the path to financial
disaster. For example, a $299 TV
from a retail store could end up
costing a family as much as $B5O
when purchased at a rent-to-own
shop and paid for a bit at a time.
And the situation could become
worse if the family misses even
one payment In most cases the
store can immediately repossess
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GAP POWER
EQUIPMENT
Comer of Rt SO * Hi. 887
717-442-8970
Hamburg Bonks
SHARTLESVILLE A & B SALES
FARM SERVICE & SERVICE
R 0 1, Box 1382 370 Newport Rood
610-488-1025 2 Miloo South of Rl. 23
Along 772 Thru Monterey
ylpnggtpwn Schaaffarstown
BLUE MOUNTAIN MARTIN HARDWARE &
ENTERPRISES, INC. EQUIPMENT CO.
Rt. 801 1H Milos South
717-885-2094 of Sehooflorotown, PA
717-849-8817
Lovsvllle/Carllsle Shippenabun
GOTSHALL'S inc. leinbach
s*-?! --. FARM EQUIP.
717-730-4343 717-243-2313 mo RHntrMwy.
717-532-5811
Mveratown
EBLING LAWN &
GARDEN SERVICE
•M E Lincoln Ava.
717-855-6720
rwfnm Hancock. MD
vnW»i HANCOCK BLOCK
ENFIELD EQUIPMENT TRUE VALUE
MOO Umoctono Rd. 220 Fulton 91.
510-032-3855 301-575-7242
Palmyra WhHatord MD
HERR’S REPAIR ENFIELD
SHOP EQUIPMENT INC.
RO 2, Box ii(A 720 Whaatar Ochoal Rd.
717-535-1540 301-570-5000
Palmyra
WEAVER’S LAWN
& GARDEN
740 W. Msln St.
717-838-5999
CHARLES S.
SNYDER, INC.
RD 1
717-3*5-5045
the item if a payment is missed.
And usually any previously paid
money is forfeited.
If you find yourself being
tempted to give in to the rent-to
own temptation (or if a member of
your family purchases items from
these stores), remember;
✓ The desired item can probab
ly be purchased at a discount retail
store for much less.
✓ There may be no grace per
iod if a payment is missed.
✓ You are responsible to pay
the fair market price if the item is
lost, stolen, damaged or
destroyed.
When you’re tempted to buy
now and pay later, I suggest two
principles to follow. First, read the
fine print on any purchase contact
that is presented to you. This is
true for any purchase not just one
at a rent-to-own store. Don’t allow
the salesperson to rush you into a
hasty decision. Ask questions like:
Are there any other charges
delivery, renewal fees, taxes?
Can I get only the item I NEED,
or do I have to buy the set as
packaged/displayed?
How will I get a receipt if I do
not make payments in person?
MANOR MOTORS SANDY LAKE IMPLEMENT B.H.M. FARM EQUIP.,
On Rta. SS3 Sandy Lain, Pa. INC.
Ptnn Run, Pa. IS76S 412-376-2469 - Annvlllt, Pa.
412-254-4753 * 717-867-2211
HOLTRVS EQUIPMENT
Roxbury, Pa.
717-532-7261
How much will my total cost
end up being including taxes?
This will help you get the full
picture about the purchase. If you
find that clerks are hesitant to give
information or seem impatient,
reconsider making the purchase.
The second principle I would
suggest is to shop around before
spending hard-earned money.
Checlt newspaper sales circulars.
Make Tax Filing Easier
UNIVERSITY PARK (Centre
Co.) Was filing your income
lax return this year especially frus
trating? Did gathering information
to compile your net income seem
an endless task?
Keeping organized financial
records can help spare you this
anxiety, says Dr. Marilyn Furry,
assistant professor of agricultural
and extension education in Penn
State’s College of Agricultural
Sciences.
“Good record keeping also can
help you improve your financial
situation,” says Furry. “Accurate
records are useful when consider
ing major purchases, savings
plans, loans, investments and
other financial decisions.”
Creating an efficient filing sys
tem is the first step in improving
your record keeping. “The filing
system doesn’t have to be elabo
rate or costly,” says Furry. "Clear
ly labeled folders, envelopes or
boxes will do the trick.”
Your financial files should
include account books, bank state
ments, a list of tax-deductible
expenses, canceled checks, previ
ous tax returns, credit transac-
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NICHOLS FARM EQUIP.
Bloomaburg, Pa.
717-784-7731
B. EQUIP., INC.
Waynaaboro, Pa.
717-762-3193
Lancaster Farming, Saturday, May 28, 1994-B5
want ads, browse around sales
floors and make notes on a piece
of scrap paper. The notes will help
you to remember where the best
deal was. Before shopping, dis
cuss with your family the highest
amount of money you are willing
to send to get the product. These
suggestions will help you avoid
the rent-to-own temptation.
tions, and receipts and receipted
bills.
“It’s also helpful to file related
materials, such as safe-deposit
box numbers; keys and list of con
tents; health, education and
employment records; credit card
numbers; warranties; and copies
of wills with letters of instruc
tion,” Furry says.
Be sure everyone in the family
is acquainted with the files.
“Someone may need to get infor
mation in a hurry if there is an
accident or crisis,” Furry says.
Some financial records are dif
ficult to replace and should be
kept in a safe-deposit box. These
include automobile titles and bills
of sale, government and corporate
securities, and mortgage and teal
estate papers. Items such as birth
certificates, original wills, and
marriage and divorce records also
should be kept in a safe-deposit
box.
“When your records are in
order, you always have your
financial picture at your finger
tips,” says Furry. “You’ll be better
prepared when tax time arrives
next year.”
GRUMELU
FARM SERVICE
Quariyvllla, Pa.
717-786-7318
HERNLEY’S FARM
EQUIP., INC.
Ellzabathtown, Pa.
717-367-6887
C.J. WONSIDLER BROS.
Ouakirtown, Pa.
215-536-7523
Ntw Tripoli, Pa.
215-767-7611
Oloy, Pa.
215-967-6257