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Buying new gear

Discussion in 'Sidewinders Bar & Grille' started by ryunker, Aug 8, 2019.

Well, finance stuff, or not

  1. Finance, I use the gear for income

    1.9%
  2. Finance, I don't use the gear for income

    7.4%
  3. No credit of any sort, I use the gear for income

    11.1%
  4. No credit of any sort, I don't use the gear for income

    79.6%
  1. BuddyHollywood

    BuddyHollywood Strat-Talker

    Messages:
    433
    Joined:
    Jul 22, 2011
    Location:
    Venice, CA
    I usually use an ATM card if shopping for gear in a store or online so that's basically cash. Most of the time I buy gear using money I've made from gigs and not from my office job which supports my family. I don't think I ever charged a musical instrument purchase. I learned my lesson after charging a home studio setup in the late 1990s that put me in debt. Never again!
     
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  2. Nate D

    Nate D Most Honored Senior Member

    Age:
    39
    Messages:
    5,822
    Joined:
    Apr 2, 2016
    Location:
    Philly, PA
    I’ll use my credit card as I rarely pay cash for anything. The credit card gets paid off monthly.

    I won’t splurge on gear unless I have the cash on hand to pay for it. I don’t may music for a living so I won’t put my life (and that of my family) at risk to buy gear.
     
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  3. vid1900

    vid1900 Most Honored Senior Member

    Messages:
    6,350
    Joined:
    Nov 25, 2016
    Location:
    USA
    And most importantly, remember to ALWAYS tip your bartenders and waitresses ONLY in cash.

    If you tip on a card, the establishment takes 50% (for taxes, credit card processing, administrative fees).

    You think you are leaving a generous tip, but in reality, you totally suck ass.
     
    3bolt79 and simoncroft like this.
  4. JB74

    JB74 Senior Stratmaster

    Messages:
    1,465
    Joined:
    Mar 22, 2018
    Location:
    Australia
    We don't have a tip culture here. Aussies get paid decent wages in the hospitality industry and are not subject to the same "employer-ripoff-ahole" mentality as your lot.

    Thankfully we remain decent in the way we treat employees. for how much longer I don't know.
     
    Thrup'ny Bit, 3bolt79 and vid1900 like this.
  5. Keith268

    Keith268 Strat-Talker Silver Member Strat-Talk Supporter

    Age:
    46
    Messages:
    494
    Joined:
    Jul 16, 2016
    Location:
    NC
    Cash. I like the freedom of not having payments.
     
  6. 3bolt79

    3bolt79 Senior Stratmaster

    Messages:
    4,266
    Joined:
    Oct 16, 2018
    Location:
    The Woodshed
    I know I already answered, that I buy on payments and pay it off quickly, but like you I have not got a lot of debt. In fact, my house is paid for, my car is paid for. We only have to pay taxes on the house (way cheap). And I have $150.00 going out the door each month on my gear. I don’t have any other bills other than my monthly pharmacy bill, and car/home owners insurance, utilities.

    I don’t have any credit cards, and haven’t had one for several years. It’s good to be relatively debt free. So as far as the gear goes, it will be paid off in a couple of months, when I get my big check, and until then, I don’t miss the $150 dollars. I don’t go to the bars, or the movies. I am pretty much a homebody.
     
    tery likes this.
  7. Stratoholic

    Stratoholic Senior Stratmaster

    Messages:
    2,721
    Joined:
    Mar 30, 2010
    Location:
    somewhere
    I did forget earlier, that I did have a couple of things on Layaway before. That's the worst. You go and pay on it every week, and if the shop is cool, they'll let you play on it for a while, but then they take it away from you, and you go back the next week and do it all over again. It's a depressing way to buy gear.
     
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  8. 93studiolite

    93studiolite Strat-Talker

    Age:
    42
    Messages:
    177
    Joined:
    Mar 15, 2017
    Location:
    Florida
    I completely understand this approach. I’ll be honest and say that those payment plans like Sweetwater offers where they bill your credit card three payments, have been very tempting.

    I personally don’t like spending large lumps of cash at one time, so that coupled with not wanting to have payments keeps me from marking large purchases. At least this makes since to me, in my head anyway.

    My local shop has a really nice Elite Tele, butterscotch blond with black binding that is downright gorgeous. But it’s right at $2000. I’d love to have it, but it’s probably not going to happen.
     
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  9. Lester H

    Lester H Strat-Talker

    Age:
    46
    Messages:
    391
    Joined:
    Jun 6, 2018
    Location:
    Kansas
    For me cash in hand lowers the temptation to splurge beyond my needs and it generally provides a little more negotiating leverage in my corner.

    Sometimes when you find a greenhorn salesman you can negotiate a deal based on cash but because they're so trained to promote the store's financing option you can get a short term interest free loan, in which case I'll use their money instead.
     
    3bolt79 and ryunker like this.
  10. garyhoos1

    garyhoos1 Huffing n Puffing. Strat-Talk Supporter

    Age:
    57
    Messages:
    5,824
    Joined:
    Jan 28, 2012
    Location:
    North Wales and Somerset.
    0% Finance when something is a decent amount.
     
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  11. Stratbats

    Stratbats Senior Stratmaster

    Age:
    54
    Messages:
    1,305
    Joined:
    Feb 16, 2018
    Location:
    WV
    I was raised never to depend on a credit card, which is probably not a real prospect in today's USA. I usually put the cash back for bigger items (guitar, amp) in case three months down the line I change my mind. My dad always said: "If you want it NOW, you don't need it!" But some stuff just I use the Card. .. But never have been i debt. Both parents were "thrifty" (Or as my Aunt put it : "Tightwads..." )
     
    s5tuart likes this.
  12. pazman6

    pazman6 Senior Stratmaster

    Messages:
    1,109
    Joined:
    May 28, 2014
    Location:
    Prairieville, Louisiana
    Cash usually. If you can get the several years for 0% interest deal, then that is good if you are disciplined to pay it off per the schedule. I personally use a credit card for everything (food, utilities, gas, etc) and pay it off fully at the end of the month - that strategy alone via rewards credits usually gets me a couple free hotel nights every year. Using a card for everything also allows me to use things like Fidelity Full View or Mint to track my spending with almost zero effort, which leads to better decisions and better budgeting.

    You need to break everything down in life to "wants" and "needs". Never finance a "want". Try not to finance a "need", but it is understandable you may have to for housing, transportation, and some larger household items. I cannot think of a valid case to ever purchase music equipment through a loan with interest, unless it is your actual profession and what you are buying is required to do the job. A 3rd or 4th guitar or amp does not normally fit the "need" category.

    Being 100% debt free is one of the greatest feelings/mental places I have ever experienced/been. Getting there takes a lot of work and a lot of sacrifice, but the results are amazing.
     
    Lone Woof, 3bolt79 and Stratbats like this.
  13. circles

    circles Resident Pinball Enthusiast Strat-Talk Supporter

    Messages:
    15,139
    Joined:
    May 26, 2013
    Location:
    West Seattle, Washington
    Yea be careful with those. I had some emergencies come up and had to charge them at one time, ouch. It's slow financial suicide.
     
    3bolt79 likes this.
  14. Believer7713

    Believer7713 Most Honored Senior Member Silver Member

    Age:
    45
    Messages:
    6,730
    Joined:
    Dec 27, 2016
    Location:
    US
    The last thing I bought on credit was my house. That was 6 years ago. Before that was my 2009 R1 in 2010. If I don't have the cash,I don't get it.

    Sent from my SM-G975U using Tapatalk
     
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  15. ryunker

    ryunker Senior Stratmaster

    Age:
    55
    Messages:
    1,726
    Joined:
    Feb 18, 2014
    Location:
    Crystal Lake, Il
    Wow! These results suprised me alot. Every gear web site and emails push their financing more than the gear itself.

    I to am with the masses on this, cash in hand is primary. Even though I broke that rule in February, the rule goes back in effect after the next (and final) $106 gets sent off to sweetwater.
     
    3bolt79 likes this.
  16. Wrighty

    Wrighty Most Honored Senior Member

    Age:
    65
    Messages:
    5,061
    Joined:
    Mar 7, 2013
    Location:
    Harlow, Essex, UK
    Never finance anything now days except when offered interest free credit on a good price. Shame not to use someone else’s money if you can.
     
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  17. Wrighty

    Wrighty Most Honored Senior Member

    Age:
    65
    Messages:
    5,061
    Joined:
    Mar 7, 2013
    Location:
    Harlow, Essex, UK
    Last time I asked about no interest credit, the guy just looked at me and yawned.....................
     
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  18. Thrup'ny Bit

    Thrup'ny Bit Grand Master Curmudgeon Strat-Talk Supporter

    Age:
    60
    Messages:
    28,925
    Joined:
    May 21, 2010
    Location:
    In a Yorkshire pub
    badum tish.gif
     
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  19. CephasG

    CephasG Senior Stratmaster

    Messages:
    1,128
    Joined:
    Dec 13, 2017
    Location:
    Land of Lincoln
    I finance only, if it is zero interest and pay it off on time.
     
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  20. tery

    tery Most Honored Senior Member Strat-Talk Supporter

    Messages:
    8,322
    Joined:
    Jul 31, 2014
    Location:
    The Redneck Riviera
    Cash is King . . . live debt free .
     
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