New Rig, Great Bass, or Less Dept?!

[basskababble]

I meant both, but threw that out there based on some deBt consolidation quotes and the debt recovery program, which I still think is a bad idea, although I'm willing to stand corrected if anyone's tried it.

I've read the responsible answers, and feel that in the end I need more confidence in my live sound, and could really use the new rig, while still leveraging enough equipment to throw some cash at the cards.

The Fender P should cover the new rig alone. If I can fetch what I want for the V4B I'll still pay down the debt by a good $500.

Edit: And if I'm really choking, it's not like I'm buying the rig on credit from GC. Used stuff turns around for the same, if not negligible loss. I have a twin and highway one sitting around just waiting for me to have a guitar project, or invite a guitarless guitarist to join a band... so that could fetch me at LEAST $800 if need be.

 

[mike costelow]

I was in your situation a few yrs ago and I used basic rig and played as much as i could while working my day job and used all gig money with what I could afford from regular paycheck to pay off debt, Got debt payed off,rewarded myself with nice new rigs(payed cash)! and now all of my gig money goes to supplement my roth IRA's.Once your debt is payed off,get rid of credit cards and listen to Dave Ramsey for moral support. You sleep alot better when you have no debt!

 

[nutdog]

I was in your situation a few yrs ago and I used basic rig and played as much as i could while working my day job and used all gig money with what I could afford from regular paycheck to pay off debt, Got debt payed off,rewarded myself with nice new rigs(payed cash)! and now all of my gig money goes to supplement my roth IRA's.Once your debt is payed off,get rid of credit cards and listen to Dave Ramsey for moral support. You sleep alot better when you have no debt!

I commend you on wanting to pay off your debt. Do it. Some quick numbers from an internet calculator:

If you're racking up $160/mth interest on 13k the rate is around 15%. About 8 years to pay off at 250/mth. $8k in interest. That would buy some nice gear.

There's lots of cheap used bass gear that sounds good. (Do you need good tone for punk? Was Sid Vicious worried about scratching his bass?) Have fun with gear that fits your means. Sell the FADP. If you don't have some emergency cash put it in the bank. Then get rid of debt. Put every extra dime you have on it.

Or don't. Your choice.

ND

 

[mike costelow]

Of course it's your choice. I don't make a living playing bass and don't think I would want to,I just make a nice supplement to my regular income,enough to top off our IRA's.I buy gear when I want it or need it. It makes life alot less stressfull to have no debt so it would always be my suggestion to pay it off. Just a suggestion, do what you want.

 

[somegeezer]

Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt. Debt.

I couldn't say it better. =] Also, it makes sense to get yourself out of it before you go spending more stupid money on instruments. Plus you'll get earning more the sooner you pay it off. =]

 

[mike costelow]

I commend you on wanting to pay off your debt. Do it. Some quick numbers from an internet calculator:

If you're racking up $160/mth interest on 13k the rate is around 15%. About 8 years to pay off at 250/mth. $8k in interest. That would buy some nice gear.

There's lots of cheap used bass gear that sounds good. (Do you need good tone for punk? Was Sid Vicious worried about scratching his bass?) Have fun with gear that fits your means. Sell the FADP. If you don't have some emergency cash put it in the bank. Then get rid of debt. Put every extra dime you have on it.

Or don't. Your choice.

ND

sorry bro, misundertood your post.;

 

[jasper383]

I suggest Dave Ramsey's radio show or book, Total Money Makeover. I think it's great, and a good, systematic way of getting out of debt.

He would suggest to you to first get $1000 in an emergency fund. Stop using the credit cards entirely. Budget every month, and knock out the debts smallest to largest as fast as you can.

 

[nutdog]

sorry bro, misundertood your post.;

I'm so misunderstood...Like all the great artists...except I'm not great...or an artist...just a bass player...a misunderstood bass player.

But to be clear, I'm in complete agreement with you. I think. Unless I misunderstood you.

 

[mike costelow]

We are in agreement,all is good!