Awesome, Sweet, Wonderful Wife
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Posted on Jan 29, 2006 10:32 pm
Soundmind??
?cixelsid I mA
Member Since: Jul 30, 2005
Wow...yesterday I ordered an Apogee Rosetta 800/192! Found a good deal on a demo with a double warranty. This is the last link to a super signal path to the PC. Told my wife what I did and she said "whatever you need, sweetheart". Today I was messing with a Minimoog Voyager at Sam Ash...really brought back memories of the 70s when I was young, tall, and handsome lol. Anyhow, I was telling her about it and how my 19 year old college bound son enjoyed playing it (he's the one that stole my musical talent). Later this evening, she said that she wished that she could talk me into getting it. What should I do? Should I take advantage of her generousity?
I am getting a $15000 bonus in March (before taxes of course). Should I lay down the plastic or what? Help me out folks, I'm really struggling. Sam Ash is willing to knock of a few hundred bucks too.
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pjkPrince CZAR-mingMember
Since: Apr 08, 2004
Jan 29, 2006 10:40 pm I can't believe you'd be able to sleep at night with it calling to you from it's lonely perch.
My missus is quite like that as well. In my persuit of music folly, she's been pretty supportive (within reason).
Congrats on the boost to the music closet =).
Something a guy told me once: from your paycheck, take a cut for yourself, so you feel like working. If you don't, you'll get burned out, and frustrated.
Makes sense to me.
Jan 29, 2006 10:55 pm She is very supportive of my studio endeavors. Of course, she gets copies of the CDs i'm working on to provide feedback on them. She really likes most of the music so far. I have to admit, she's a little spoiled too (baby grand, hammered dulcimer, and several other musical instruments). You're right about rewarding yourself a little. I invest in a 401k, pay a lot of taxes, have put 2 through college (althoug one didn't finish) and plan to pay for 2 more. I have a very stressful, but rewarding job and when u work hard, you should enjoy some of the fruits. Thing I might go for it tomorrow.
pjkPrince CZAR-mingMember
Since: Apr 08, 2004
Jan 29, 2006 11:06 pm Cool beans. I'm sure it'll be a very 'sound' investment (mentally, and sonically).
Jan 30, 2006 06:03 am I never lay down plastic for hobbys...while the generousity is cool and all that, which it is...it's a big picture thing, to me at least.
I never, ever finance anything that isn't a life necessity right at that moment...just never a good idea. Music gear is very, very rarely an "investment", they very, very rarely gain value.
In my opinion.
pjkPrince CZAR-mingMember
Since: Apr 08, 2004
Jan 30, 2006 07:41 am That's a good point. I haven't had a 'credit card' for over 10 years. Won't either. I use a debit card, and that's it.
I also agree that the 'investment' wouldn't be a financial one, unless making money on your craft, but that's why I put the 'mentally and sonically' part.
Sounds like SM has the financial route well in place. Better than me, that's for sure.
Jan 30, 2006 07:46 am True, I have no business telling anyone how to run their finances, but when I hear somebody putting gear on credit, well, I just have a default, knee-jerk reaction...unless it's a business need, or a family necessity, it's just not worth paying that much more for...in my opinion...
My wife and I actually put everything, food, gas and ALL purchases on a credit card, which we pay off at the end of every month...then we never pay interest, plus, we get the kickback bonuses which credit cards offer...now, if you can do that, then it's awesome cuz including the kickbacks you actually pay less for the gear...but I don't know very many people that do that.
I don't think we have ever paid a penny of interest on anything except our house and car purchases...
Soundmind is a big boy and fully capable of making wise decisions it would seem...I just have that knee jerk reaction to credit, I have seen too many people get themselves in trouble, or declare bankruptcy and let all of us other tax payers pay for it...
pjkPrince CZAR-mingMember
Since: Apr 08, 2004
Jan 30, 2006 07:56 am Sound advice, heh, pun intended. =)
Jan 30, 2006 08:56 am dB is a wise individual indeed. If I use thee plastic, it will only be if they make a good deal on the price, and only because I will have the means via the bonus in March to pay it off. The bonus is already approved, just a matter of when the cash is deposited in my bank account.
We all need toys occasionally, but we do need to have priorities. One philosophy I have is to never buy a new car. I always buy on that someone else (who has to have a new one every couple of years) has paid the "rapid depreciation".
Americans do seem to have a problem of inadequate financial training. I've heard that most americans have little or no savings at all and expect the government to take care of them in their old age...a dangerous retirement plan. Wow, I'm getting off topic. Anyhow, the point is, work hard, have a good financial plan, and enjoy the fruits of hard work when you can!
Jan 30, 2006 09:07 am Quote:
Americans do seem to have a problem of inadequate financial training.
And todays "understatement of the day" award goes to Soundmind!
I agree completely...this topic has come up at HRC many time, and it warrants repeating I do believe because it's important, especially for the young folks here...
My wife and I have friends that have everything, big house, nice cars, lake shore property, big TV's, boats, etc...but they do not have one dime to themselves, so far in debt it'll be ages before they ever get out, if ever. We vowed to NEVER live like that.
Never live outside your means, if your means don't provide you your toys, get a better education or better job before spending yourself in to the poor house. You may like all the toys now, but it'll suck as you get older...I want to retire someday...look at the big picture, not just 6 inches in front of your face.
Americans have gotten so fat, lazy and spoiled that people expect a great life just to fall into their laps, well, that isn't the way it works...
whew...
GeoffSM7b the Chuck Noris of Mic'sContributor
Since: Jun 20, 2002
Jan 30, 2006 10:35 am "never live out side your means." can sum everything up. I love toys and gear and the whole american dream, but i've learned how to think before i buy now . when i was 19 and 20 i was handed all sorts of credit cards, pre approved this and that and found my self biting off more than i could chew. it took a few years and a few trips to the desert to pay things off and get back on track. Now I only buy things that i have money for ( ie in the bank) , i still think you should treat yourself every now and again but don't go too crazy. I've tried to make due and enjoy what i have and i think that's the key, well for me it is. but as Db stated i'm not one to tell anyone how to spend ther earnings. the Moog sounds sweet:P
Jan 30, 2006 12:25 pm I agree that we should live within our means. You young folks out there, please don't think that I'm using the plastic to buy something to play with that will take 10 years to pay for with a credit card. My financial rule is this. Save first, toys last. The first 10-15% goes to 401k which is in addition to my regular retirement plan.
Credit cards are good for convenience only, not as a means to finance wants. Never use them for "toys" if you don't have the money available to pay them off within a month. The only exception is if it may take a couple of months to pay them off and I absolutely know I can, and I use them to buy someting that has a major discount (clearance, etc)where one or two months interest will be much less than the money saved on the purchase.
Banks have one reason for existing...to make as much profit as they legally can...note I said legally, not ethically. They will be your best friend as long as they are making money... and your worst enemy if you can't pay them. Read the credit agreements before you use them. Remember, fixed rate doesn't mean what it sounds like. It really means that it's fixed to whatever amount they can legally get from you.
If I make the purchase, and I'm not salivating or anything and planning a tantrum if I don't get the Moog, it will be only if I think it's a good deal (at least 25-30% off the price I've seen on competitors sites). Remember, I have a bonus coming and only intend to spend 20% of it on a toy. The Apogee was a good deal for high quality gear that will be used for professional music production on a major project that is coming up this spring. Was already planning to make the purchase in March.
Anyhow, good advice on the finances for the folks who have to have it now and will worry about how to pay for it later...the payments will LAST MUCH LONGER THAN THE PLEASURE OF INSTANT GRATIFICATION!
A
zekthedeadcowEat Spam before it eats YOU!!!Member
Since: May 11, 2002
Jan 30, 2006 01:35 pm speaking of credit cards everyone should check their bills... now that the bankruptcy laws changed my parents (who have very good credit) has their interest rate double... I only use debit but the last credit card I was offered was 40%!!!
PLUS (this really pissed me off)
CapitalOne reactivated a card I closed five years ago (that had yearly fees) and started billing me again... but I cought it before fees were added to the account.
Jan 30, 2006 01:38 pm Thats insane...glad my wife goes over our statement with a fine-tooth comb...
Jan 30, 2006 02:35 pm Re capital one,I had 5 maxed out credit cards and a big consolidating loan taken out to pay them off! Got them down then maxed them out again!They were on to me and piled on the charges,so I cut em up,sent em back, closed the accounts then offered to pay them a set amount monthly that I could afford.All but capital one agreed,they haggled for more.Couldnt get credit then but now most of its paid off guess who wants to give me another card? yep capital one.Its taken a lot of hard work and gigs to get here so anyone selling to me is up against it!
Noize2uCzar of MidiAdministrator
Since: Apr 04, 2002
Jan 30, 2006 07:37 pm Yep, I'm with dB on the credit thing. Yes Overkill stands for they way I go through gear. Sometimes I will buy just because I want a new toy, or think I need it. But I wont nor have I ever purchased studio gear with household money or credit. If the studio account doesnt have the cash then I dont buy it. This room has benn more then self supporting for over 10 years now and it has allowed me to splurge from time to time on stuff that isnt really a necessaty but a wanted item.
But as well I have seen way to many people do as dB stated above. Family, friends and others who live far beyond their means just because the credit companies let them. But they have so many bills they cant even afford to do anything but live a shallow life with their toys.
Jan 30, 2006 09:10 pm How bout the commercials, mailings, etc that want to loan you money to "get out of debt"?
Noize2uCzar of MidiAdministrator
Since: Apr 04, 2002
Jan 30, 2006 10:27 pm Ya, thats really funny. I get that crap all the time and I havent had a credit card in over 15 years. Never missed a payment of any kind either.
pjkPrince CZAR-mingMember
Since: Apr 08, 2004
Jan 31, 2006 07:50 am I've heard (hearsay, of course) that those debt consolidation deals, or 'get out of debt' companies are just as bad as a bankruptcy to creditors.
Stands to reason, if you can't manage your finances, the credit system would want to know about it.
Jan 31, 2006 07:54 am Well, I suppose it's like anything else, there are probably a few good ones and a few bad ones. Ultimately debt is debt and there is only so much you can do with it.
I for one am glad they tightened up the bankruptcy laws again in the US, not enough, but some. While there are some people in an unfortunate situation like loosing a job, getting very ill, things like that, so many people would take advantage of the system, just like welfare...
pjkPrince CZAR-mingMember
Since: Apr 08, 2004
Jan 31, 2006 08:00 am Sorry to thread-jack, but what's this about bankruptcy tightening? is it harder to file now?
Jan 31, 2006 08:05 am I am unsure of the specifics, but they made it a bit harder, and finally decided to put a little of the bad stigma back into a bankruptcy filing. For a long time you could file and it couldn't be used against you in the future when applying for credit...WTF is THAT?!?!?!
Thats what we need to do more, is put the social stigma back into things like welfare, bankruptcy and other things to keep people from wanting to use it unless it's absolutely necessary...
But, the leftie liberal pinko socialist wackjobs don't want to be unfair...
jeezuz, life ain't fair, deal with it.
Jan 31, 2006 08:33 am ah, good find, thanks zek!
Jan 31, 2006 09:07 am I know that bad things happen to good people and they may need help from time to time, but like the welfare system, bankruptcy was abused and has become a tool for the irresponsible folks to dump their debt on those who trusted them to repay. K-Mart file for bankrupcy a few years ago, dumped 90% of their debt on creditors, re-organized, and are now back in business and buying other companies...that is wrong...they should have to repay what they originally owed before any pruchases are approved by regulators.
My brother in law went bankrupt about 30 years ago, partly because of bad financial decisions and partly because of the bad economy. He and my sister lost their home, and everything but their clothes. They worked for over 10 years to repay all the debt they had accrued and started over from scratch. They are doing well now, but it took a lot of work, but most important, they did the right thing and payed their debt as they could and didn't just write it off.
I'm glad to see them clamp down on abuse, I just hope those who have medical bills or other disasters beyond their control don't fall victim to predatory lending institutions.
drakeMember
Since: Apr 13, 2004
Feb 07, 2006 07:47 am Hey all, i haven't posted in a while, but i found myself on the forum again and noticed this post. this is from a while back, but i wanted to share some of the best advice i ever received about finances:
- Never borrow for a depreciating item. (and once you start paying interest on a credit card, it's the same as borrowing) Gear is always depreciating. Things that aren't = house, education, etc.
