Are Rent-to-Own Stores OK To Use?

Q: Are rent-to-own stores okay to use?

Rachel Cruze: No! No! No!

Seriously, why would you rent a couch, a dishwasher or a television? By the time you do the math and figure out how much you’re paying when you rent to own, it’s usually a whole lot more than if you would have just bought the item with cash.

So what should you do?
If you want something, save up for it and buy it with cash! It’s that simple.

If someone asked you, “Would you like to buy my $500 television for $1,000, would you do it?” Of course not. But that’s exactly what you’re doing when you mess around with rent-to-own stores.

You don’t need anything so badly that you can’t save up for it and pay for it outright.

Rachel Cruze Growing up as Dave Ramsey's kid, Rachel Cruze learned the basic principles of money at an early age. She travels across the country teaching those same principles, in a personal and passionate message of money and hope, to teens and young adults. To find out more about Rachel, visit www.daveramsey.com/speakers or follow her on Twitter at @RachelCruze.