Are you in debt from "The Hobby"? [Archive] - Audio & Video Forums


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03-23-2007, 01:22 PM
Conversation on WAF got me thinking.

I know, its probably a sensative topic. But, I searched through all posts and only found 88 results for the word "debt" in a forum about a hobby where easy credit abounds. So be honest, are you or have you ever been in debt from your AV/stereo/music habit? Come on now, do you have a pair of Martin Logans sitting on your Visa bill? Did "90 days same as cash" get the better of you at Best Buy? Did a Manley Stingray come up for $500 on eBay, just needed new tubes? After all, "How can I afford not to buy it?"

I'll start. I currently have no debt besides mortgage and student loans. But, I did graduate college with crushing credit card debt. Even a conservative estimate would attribute $5,000 of it to CDs and concert tickets. My first proper reciever and speakers were bought cash when I was 18, but the turntable, tape deck, mixer, second turntable, microphone, (opps! broke the needle; gotta get a new needle) all went on the Citibank card for probably another $2000.

But adulthood brought responsibility. Alas all music purchases are now made with cash. Its funny how much less you spend when your using real Jacksons. And my wife approves all hardware upgrades, so that keeps me from getting tempted.

Anyone else dare to share? It's kinda like a bunch of junkies sharing their lowest moments. :D

03-23-2007, 02:15 PM
If repairing costs count then i am up to aprox. seven thousands. Its not debt, since the stuff isnt fixed yet but thats what its gonna cost.

03-23-2007, 03:01 PM
I used to charge things, I stopped. Now I buy only used equipment. If it's charged, it's only for fraud protection and only for 30 days and then paid in full. I haven't made a car loan payment in 26 years. I do carry a home mortgage and I hate it.

If you are a young person, try real hard to learn to say no to debt. Over your lifetime the interest and other charges will eat up a fortune. Once the debt habit is broken you can actually afford nicer things and they belong to you not the bank.

At some point in your life there is a fair chance that you will experience some kind of financial catastrophe. If you are in already in debt up to your armpits, you can't take advantage of debt to bail you out.

Yeah, I know the question was about audio equipment, I couldn't stop :)

03-23-2007, 04:15 PM
Here's the great thing about this hobby....the gear typically holds it's value quite well and if you ever get into a bind you can always sell it off for a decent amount and re-claim your stuff later down the road once you get out of the down time.

Mr Peabody
03-23-2007, 07:00 PM
Can we talk, are you kidding, I am the perverbial champaigne on a beer budget. To support my habit, my credit card is like a revolving door. Currently, I am out of debt, for audio gear anyway, and luckily, I am satisfied at this point with my system.

The way I look at it, I can be enjoying the gear while I pay for it. Fortunately, or unfortunately, depending on your view, I have a dealer in town who was loose with their gear for home audition and became a fast junky. Even I know my limits, I don't want to end up in bankruptcy court but once I listened to and had my hands on quality gear, I couldn't go back.

03-25-2007, 03:51 AM
No debt. Paid off the house about two years ago. Never in 40+ years of buying hi fi gear have I financed anything. In fact the only thing I have ever had payments on were houses and cars. Both of which were paid off before the term ended.

Debt sucks.

Luvin Da Blues
03-25-2007, 06:26 AM
Naw, I'm not in debt from this hobby. I'm in debt from the other bills I can't pay cause I spent all my money on audio equipment. I'm not in denial.

Seriously, I have been ordering stuff from an out of town dealer due to the screamin prices he offers, but it is paid off ASAP.

03-25-2007, 01:28 PM
Never. If I can't pay cash, I don't buy it. The only debt I carry are mortgages and cars.

03-25-2007, 05:35 PM
Never. If I can't pay cash, I don't buy it. The only debt I carry are mortgages and cars.

Amen brother. I'm wrapping up the last college loan and the condo and that's it. I keep to a bare minimum on cards and am grateful to have been dealt some common sense as a youth, as I have watched several friends get in over their heads. Macs and Martin Logans all paid for in cash...

...and not too far OT, but who in their right mind (other than expense accounts) puts food on a credit card? I can't imagine paying more for something that's gonna be out of my body before the first payment is made.

03-26-2007, 01:45 AM
Never. If I can't pay cash, I don't buy it. The only debt I carry are mortgages and cars.

I bought my speakers in cash too, the seller looked meighty stupid when i came with almost a little bad. LOL And the Bank must have thought i was dealing drugs and need change money.

03-26-2007, 06:11 AM
I have never spent more than I had available. But I sure do dream big. Always stop myself just before the trigger is pulled. Too many other things to pay for first.

03-26-2007, 06:49 AM
I had to learn the hard way not to use credit cards like they were an extension of income. Which is too bad now that I have the taste and appreciation of high end. My choice of occupation right now will not support my dream components. I think I have as much fun tweaking what I have.

03-26-2007, 09:19 AM
I suspected most people would fall into the "I have no debt" category. But, I was interested to see if anyone would proclaim loud and proud "I'm downin' in it, but man does this rock." I knew a dude that was completely broke, down to his last scratch and drowning in debt from years in failed bar bands trying to break. Literally, rather than paying his rent, he had a line on a sweet Hammond B3 and Leslie Speaker. "Hey, man, I can always sleep at the practice space." He wore the debtbeat lifestyle loud and proud.

Plus, when I'm at weekend record shows, I see lots of dudes you know don't have any money spending it like they stole it.

Also, if you built a house and budgeted $40,000.00 for the dedicated HT room. That counts as debt for the hobby. That ain't mortgage. :D