Yes, if I am broke, and in college, I would borrow money to be able to afford a better computer for a college courses like video editing course which need a more powerful computer for completing homework.
If I am broke, I would borrow money to buy a more powerful computer for self-employment work as a video editor, graphic designer, 3D animator, video blogger, Professional Video Creator, and other jobs which need a fast computer.
Never had to deal with this, though my dad did dip into his savings to buy me my first real PC (one before that was total crap) so I do kind of pay him back for that at times.
I guest, if it was Black Friday, and there was a huge sale on a nice PC. The bank is most likely closed or very busy on Black Friday. I may borrow money to buy the PC. I no longer trust using my debit and credit cards at stores' Debit card or ATM machines because of the recent Debit card or ATM machine hacks which are in the news.
There are now Cash-Back Credit cards like Amazon Credit card where you get back 1-2% of what you spend back or redeemable reward points like Air Miles, with the card, so using a credit card to borrow money to buy a PC can be a good idea.
If you buy a $400 PC, you would get back $8 in cash back rewards if your card gives you back 2% cash back reward like Amazon.ca reward credit card. You also get a $20 Amazon.ca giftcard when you get approve for the card.
But, you need to repay the full amount of what you owe your credit card company before the due date for your credit card bill, so you would not need to pay 20% or more interest.
Nope. I would rather buy a good computer after saving up money....unless we are talking about some sort of a huge deal for some special celebration.
Otherwise...I would never borrow money.
I think borrowing money to buy a computer can be good for people who can't afford the full price of a computer if the person or their family member really needs a computer to replace an unreliable, very slow, or stolen computer, or buying a PC as a Christmas/Birthday gift for a close family member where saving money may take too long, and their birthday and Christmas is already over after saving enough money to buy a family member or friend a PC as a gift.
Computers are needed for school, office work, and keeping in touch with people, so not having a computer can make working and school work impossible to do because most schools and work places use PC programs like MS Word and Excel for work.
As long as a person is responsible and pay back the money they borrow on time, borrowing money from a credit card, loan company or person can be a good idea for people who are responsible with paying people and banks their money back, and picking a loan company which does not rip off its customers with high fees and interests.
I would lend and may give money to a friend, or family member if they need a new computer for whatever reason like their old computer got stolen.
I feel a computer is also considered a daily expense since it can be used for so many everyday tasks like e-mail, reading documents, storing photos, and doing school work and office work.
Sometimes people are unlucky because they lost their job, don't have enough money to buy a computer to use for job searching, so they need to borrow some money from a family member, friend, or a bank, so they have enough money to buy a computer for writing a resume and cover letter, replying to job interview e-mail, and to learn job interview tips, and new work skills by taking an online college course to increase the chance of them getting a new job.
Warren Buffet bought things he does not need to survive like stocks, buildings, and jewels, and sold them for a higher price after many years of owning them which has been profitable for him since he is one of the richest people in the world.
Borrowing money to buy a better computer can sometimes be profitable if you earn more money in the future by selling the computer for a higher price if the computer becomes an antique/collectible item like old Commodore and Apple 2 computers where non-working PCs can still be worth a lot of money because of how rare they are, and sentimental value where a rich person like Bill gates may pay thousands of dollars for a rare old PC.
