The answer is . . . it depends on your fiscal discipline. The first question to ask is do I have the money in the bank today to buy the item outright today? If not, you probably should not buy it. The retailer's ploy is working in that you are purchasing an item that you really can't afford.  If you do have the money in the account, the interest-free loan you are getting from the retailer allows you to pocket those earnings while getting immediate use of the item. But be careful . . . as always, the devil is in the details. Most of these zero financing arrangements require a minimum payment each month anyway. The other trick, and what most retailers count on, is you have not saved up the money to pay off the item after the zero financing period has ended. At that point, interest is charged all the way back to the time when you originally purchased the item. Now we are using debt to purchase a depreciating asset . . . not a sound financial decision. 

My suggestion with these zero financing arrangements is to make a payment into your account that you would otherwise be making to the retailer to make sure you have the money when the time comes. If you have the money in your account now, invest your money in a 5% money market fund to make sure you have the money when the zero financing arrangement ends. Now you have to question how much you will be ahead after six or twelve months anyway.  Buying a $1,000 camcorder on a twelve month zero interest arrangement will allow you to make $50 in interest. Take off taxes at 28% and you are looking at a net of approximately $36. You have to decide if that is worth it, especially if you do not believe you can be disciplined enough to save the money, or leave the money you have in your account.