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How do you pay for your gear?

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  1. Vicious Tyrant
    I learned the hard way about debt a while back, so now I save up for most any purchase I make.

    After the numerous "spent so much on gear" threads, I'm curious....how many people buy their cans on credit and take time to pay them (not really the same as buying on a credit card and paying it off when the bill comes) and how many keep on a relatively strict budget.

    Of course, supporting a family of four on a county probation officer's salary keeps my belt tight, but I kind of enjoy saving up for things. It's an acquired taste, to be sure, but very satisfying.

    When I hear about the numerous shekels being spent on equipment, I always wonder if that's new debt or people spending money they already have....
     
  2. Jahn Contributor
    I never ever ever spend money I don't have. Rule of thumb-

    1)Debt Management first. Get in the black.
    2)Savings. Put in what you need to put in every month. If you can't because of debt management, well, that's why Savings is #2.
    3)Frivolities. You gotta still live, man. Necessities usually fall under Debt Management since we use a credit card for most of our spending - avoid ATMs when you can, you take out cash like that and you'll forget where all the money went.

    The ONLY time I broke this rule is when I just NEEDED a HF-1. I rode a thin thin thin line of waiting for my paycheck to come in and the credit card bill to be paid that month - I HATE feeling like I'm living paycheck to paycheck! And see, in the end why did I go through all that? Do I have a HF-1 right now? No! I'm a fool!

    Moral of the story is - take care of your business first, cans will come later as a result, and you'll feel better about the purchase if you know your house is in order.
     
  3. asmox
    I don't spend money I don't have.
     
  4. rreynol
    I prostitute myself. [​IMG]

    Not really. Being single and having an engineers salary helps out.
     
  5. Dimitris
    Quote:

    Originally Posted by asmox
    I don't spend money I don't have.



    I save around $70 a week to fund my hobbies. If it takes me a year to save money to buy something then so be it. Thats a way to appreciate what you buy as well. I never reach beyond something i dont have the money to pay.
     
  6. jbloudg20
    I also do not spend money I don't have. After all, how is that even possible? Credit card does not equal cash.

    If it is an emergency situation, (like a pair of K340's I just picked up for an unpassable price), I sell other parts of my hobby to cover it. My Senns were on the chopping block, but luckily they survived.
     
  7. Jahn Contributor
    Quote:

    Originally Posted by jbloudg20
    I also do not spend money I don't have. After all, how is that even possible? Credit card does not equal cash.

    If it is an emergency situation, (like a pair of K340's I just picked up for an unpassable price), I sell other parts of my hobby to cover it. My Senns were on the chopping block, but luckily they survived.




    that's a good point. in my Curse You thread it looks like i've amassed a crapload of gear - but i don't own 90% of it anymore, since i had to sell old items to get the new items. what's left after the dust settles is a nice streamlined rig within my budget.
     
  8. warubozu
    I did use my credit card for purchases early on but I never ever go overboard to a point where I would end up trying tp paying off the balance for the next year or two. You got to learn to strictly budget yourself if you plan on using your credit card. If you have no control and start using your credit card on a major spend spree and rack up a major debt you could end up way over your head in debt real quick.
     
  9. Vicious Tyrant
    Good to know there's people doing it right. Of course, lots of my clients (well, their parents...I work with juveniles) are in debt up to their eyeballs, but so are a lot of my co-workers. They just seem to accept it like its totally natural and keep going out for lunch and showing up with new clothes and what not.

    Ugh...it gives me a stomach ache.


    Team "Living below your means"
     
  10. Enverxis
    Ehh, yeah. Ill never get a credit card (or a cellphone [​IMG]) so theres alot of money I'll have where others wont [​IMG]

    Cant really add anything that hasnt been said, dont spend money you dont have and sell gear you dont need.
     
  11. Vicious Tyrant
  12. LFF
    Everything I own comes from my pay checks and bonuses. I love Jahn's first post with his 3 rules. I would say they are the same as mine. The only exception I took was when I was given a "student" loan. It payed my semester of school and had enough for some UE-10's. [​IMG]

    Aside from that - I hate living pay check to pay check so I try to save for a rainy day. Before I buy something I pause and ask a critical question - Do I need it? If it is no (99% of the time), I don't buy it. If it is no, but would like it - (70% of the time) then I see how much cash I have which I can afford to spend. If I have enough - then I buy it (this is usually for music though).

    All in all, this is a very expensive hobby but I justify it with friends and family for the following reasons:

    1) the sound quality
    2) better than having a bad habit (smoking, drinkning, drugs, etc)
    3) it relaxes me
    4) Did I mention sound quality???[​IMG]
     
  13. gloco
    Quote:

    Originally Posted by Enverxis
    Ehh, yeah. Ill never get a credit card (or a cellphone [​IMG]) so theres alot of money I'll have where others wont [​IMG]

    Cant really add anything that hasnt been said, dont spend money you dont have and sell gear you dont need.




    Get a credit card, how else do you expect to have a credit history?

    Like many others, I don't spend what I don't have. I'll save like crazy for a while then buy something I need, errr...or want [​IMG]
     
  14. felixkrull6
    Quote:

    Originally Posted by Jahn
    I never ever ever spend money I don't have. Rule of thumb-

    1)Debt Management first. Get in the black.
    2)Savings. Put in what you need to put in every month. If you can't because of debt management, well, that's why Savings is #2.
    3)Frivolities. You gotta still live, man. Necessities usually fall under Debt Management since we use a credit card for most of our spending - avoid ATMs when you can, you take out cash like that and you'll forget where all the money went.




    Good rules to live by. I do pretty much the same thing and am pretty anal about that kind of stuff. I usually create yearly budgets where I subtract out all my expenses (and I mean everything I can think of including estimated gas purchases; this is where I think people have the most problem because they tend to underestimate how much their basic living expense are) while giving myself certain allowances for the year ($50.00 for CDs a month /$7.50 a day for food and other incidentals, etc.). Any extra income I get (i.e. bonus, tax refund, dog/house sitting) plus what I don't spend on the allowances is then split between even more savings and miscellaneous fun stuff (headphones, amps). Don't laugh at the dog/house sitting because it will usually get me about $1000 a year tax free for basically doing nothing. Probably TMI but for any people looking to save money and not knowing how to do it, this might help. It doesn't hurt that I live at home but I make sure to save all that extra money and not just spend it (it helps to alleviate the guilt when I spend money on gear). [​IMG]
     
  15. Kirosia
    I just shank unsuspecting head-fiers and take their gear. So technically, I don't pay for my stuff.
     
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