We have been stuck in the cycle of bad financial decisions and finally seem to be getting on the right track. My question is this: We got suckered into a rent to own furniture agreement and we are wondering if we should send it back and pay for new in cash or if we should suffer it out? We have only been in this agreement for about 6 months out of a 3-year contract. We contacted the company for a buy out option and it is outrageous.

The operative word in your question is “contract.” If you signed a contract, then you’ll have to either live with the terms, or break the contract and live with the consequences. I have no idea what kinds of penalties there are for non-payment, since I haven’t seen the contract. Nor can I advise on what the implications are if you do not fulfill your end of the deal.

Whenever you’re looking at financing ANYTHING, your first step should be to calculate what the final cost will be, including financing, fees and anything else they throw at you.