[Uncle Erik]

Lots of people file for bankruptcy. I used to practice bankruptcy some years back - it's a good option when you're in over your head. It's usually prompted when someone has a job loss or a medical problem. The vast majority of clients did not intend to get into that position. They wound up with a spate of bad luck and had few other options. I don't think any less of someone who has filed.

Also, chapter 11 is for businesses. Chapter 7 used to be the most common form of bankruptcy, but the change in laws a few years back forced most people into chapter 13.

 

[Townyj]

I save and then buy, pretty logical really. Getting paid a good wage and being single helps a whole lot!

 

[Blasto_Brandino]

Save?!?! I find you cannot buy anything by saving, you need to SPEND money to buy something!. 
Anyway I make 20k a year as a mechanic, and over the last 3 years I've spent close to 17k on audio equipment (actually when the CD player arrives, and the L3, it will push me over 20k), and my spending is only accelerating (God help me) I only have about $700 in credit card debt, my secret? No girlfriend, a mothballed car (1994 Mercedes Benz SL600 V12 convertible, fun but without a girl, useless) low over head. I buy EVERYTHING with a form of layaway I came up with (I have to convince the retailer to agree to it though), I've build my online reputation up to the point I can buy most anything less than 10k on payments. I recently purchased an office chair for $500, in payments, they normally sold the chair for 650 (retail on the chair is $1,180), they gave me a DISCOUNT even though I paid in payments and did not ask for one. Headphones are not my primary form of audio reproduction, I have a speaker rig that is my baby (take the equipment in my sig, multiply it by 4 and that is about what I'm in my speaker rig for).I don't sell my speaker equipment, so I'm very picky about what I buy, cause once I buy it I'm stuck with it, I want to buy some Wilson duettes (ultimate apartment speakers) but they are still pretty pricy so it'll be a while.  I do try to get a girlfriend once and a while, but usually (always)  get shot down, and then I buy more audio equipment, if you see my apartment you'll find I get shot down a lot...(lol) It works out better for me though, of the dozen or so girls that shot me down, 5 shot me down for guys that beat them, so good for them! (yes I'm still pretty angry about the last one...)

 

[singha]

2nd year med student = $100,000 in college loans. Got my priorities straight

 

[PANGES]

Quote:

Do you really have friends who haev filed for bankruptcy? I can understand having a poor credit rating....many people do.  but chapter 11? crazy. 

Well the problem is that they spent every penny they had (and even pennies they didn't have), and, like Uncle Erik said, unexpected things come up and they don't have any cushion to fall back on. 
 

 

[chrislangley4253]

Holy crap.. a lot of med students running around head-fi. I'm first year (kind of second year) Pre-med . I, uh.. I work for my mother in our store and then I spend money.. At least that has been the trend as of late. However, I'm done buying headphones for a while. I'm pretty damn happy with what I have nowadays. I would really dig a good speaker system, when I get out of college. 

 

[JesperZ]

If you have a decent job it's only a matter of priority. I'm a student, yet I don't drink and don't buy a lot of unnecessary stuff. Apart from hifi equipment of course
If I lived like most people I know I wouldn't be able to afford it either, but that's where priority plays its part.

 

[ACDOAN]

Coming from Hi-end audio hobby, HPs are considered pretty cheap. An average amp such as Bryston 4 BSST couild set you back 4 K. I do not want to mention ICs, speakers cables that could run up 1 to 2K. I stop buying HI-end audio gear and with the reserved funds, I can buy a whole lot of cans.
 
To answer the Op question, I have a MBA so many moons ago and I have been working all my life. I have paid my time and my due to be a productive member of the society. Now, I am ripping the dividend of my investment.

 

[ACDOAN]

Last week , I spent over 6 hours to install a TV and a Bose system for a guy who is so cheap that I can collect only $200.00.
 
The job normally costs about $499.00 but I need funds for a new headphones so....2 hours in the heat attic was not fun but hell, this is my extra source of disposable income for audio gear and I only do this kind of job when I am really in need for some cash...
 
 
 
 

 

[Melvins]

it's called hustling. Syke. I've had the same pair of cans for a year. Do slight mods all the time, buy stuff you know has a decent resale value.
 
That being said, COMMUNITY COLLEGE BABY! I'm a waiter during the weekends. Can make upwards of 200 bucks within two days depending upon said day. But yeah. I also spend quite frivolously on dope/booze/food/drugs/movies/concerts

 

[chrislangley4253]

I'm moving to a cheaper college and picking a more reliable/quickly attained career path (nursing). I agree with melvins though. Make smart purchases, only buy things you truly want and that you can resell later. Also, demo anything you can get your hands on. 

 

[Melvins]

yearp, luckily there's a lot of people in our community who are willing to lend out extremely expensive items, strictly for the satisfaction of having someone else go through the experience of using it.

 

[Draygonn]

used to defend oil companies and movie studios

 

[roker]

Did I miss something or did someone not say
 
CREDIT CARDS.
 
I have a decent job, but combine that with bills, gf, and entertainment, it leaves me with little else.
 
One GREAT thing about this hobby is that a lot of the gear retains its value so as you go on in life a get a better job or if you manage to save for a while, you can sell off your old stuff and get something great in return with a little more money on top.
 
Case in point, the selling of my old audio stuff (Keces Dac, LD amp, and Senn headphones) financed the purchase of my newest amp/dac (CEntrance DacMini).

 

[pelltj03]

I've been affording my systems for the past 4 months out of careful planning and saving money!  Also, I made a commitment to myself in another hobby (fountain pens) I'm currently phasing out of that in order to buy something else I had to raise a portion of the funds, if not all, out of the sale from other items in that hobby.  That has served me well and kept my bank account from hurting too much.  I try extremely hard to not put hobby purchases on a credit card until I have money saved up to immediately pay it off when the bill comes. 
 
I'm currently figuring out how to buy a WA6se and a vast majority of the money will come from sale of probably 3/4 of my current fountain pen collection and the sale of some audio equipment.  My actual outlay of cash will probably be around $150 if everything goes right.