I don't, I have a cheap Dean acoustic, but I would like a quality insturment that will last a very long time. And maybe start playing in groups again. . .
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Should I get a loan?
- Thread starter Quap
- Start date
I don't, I have a cheap Dean acoustic, but I would like a quality insturment that will last a very long time. And maybe start playing in groups again. . .
+ a gazillion. Credit cards are the debil...
Again, not for everybody.
More than likely I'm older than the OP. I have tons of available credit that I don't use long term. If they truly are the debil I'd think they'd make me use them. For example, I use my American Express card at gas stations. I pay it off every cycle. So it's the debil how?
The problem is usually the lack of fiscal restraint on the part of the person weilding the debil's tool. But who want's to look at it like that?
Acting like it's real money that will eventually be coming out of your pocket would be a huge first step for many people.
Acting like it's inherently evil and people are helpless is part of the victim mentality that doesn't help people understand the TOOLS.
Acting like it's real money that will eventually be coming out of your pocket would be a huge first step for many people.
No, far easier to blame credit trouble on predatory CC companies and the evil's of glutonous Americans.
True, you have to act responsibly to use credit cards effectively.
But in many ways, they ARE the devil even if you act responsibly. Credit card companies have been known to act unethically (to say the least), including doing things like raising the interest rate or adding surprise annual fees EVEN to those who pay off all that they owe on time. And randomly lowering the credit limit. And jacking interest rates from 9% to 32% when someone is 1 day late. And charging a $39 late fee on a balance of $19.
Just saying - they cannot be trusted, which is why Congress has tried, and partly succeeded, in enacting legislation to reign in some of their unscrupulous practices.
But in many ways, they ARE the devil even if you act responsibly. Credit card companies have been known to act unethically (to say the least), including doing things like raising the interest rate or adding surprise annual fees EVEN to those who pay off all that they owe on time. And randomly lowering the credit limit. And jacking interest rates from 9% to 32% when someone is 1 day late. And charging a $39 late fee on a balance of $19.
Just saying - they cannot be trusted, which is why Congress has tried, and partly succeeded, in enacting legislation to reign in some of their unscrupulous practices.
Yeah, it's true, when we get a raw deal in life, ask the government to pass a law making your discomfort illegal.
You know what else spends like real money? Cash.
Really? Who knew?
Here's a real life scenario. Judging by most of the posts most of you would've passed it up:
I went to GC and found a used high end bass selling for $1k. $4k new. Since I didn't want to take that out of my checking account at the time (taking care of other obligations) or out of my 401k or savings, I put it on a credit card when I got it. Already had a plan on how to pay it off.
I sold it about six months later (I waited) for more than double what I paid for it. Using the credit card gave me time to move some other gear I'd picked up and pay the card off within the first billing cycle. If I'd waited until I sold the gear, think that $1k bass would've still been there? I don't
Yep, having credit is evil. Unless you can use it in a level headed fashion of course. I know... that's crazy talk.
I'm not saying CC companies are angels. I'm saying think and pay attention. How many folks actually do either or both?
Really? Who knew?
Yep, having credit is evil. Unless you can use it in a level headed fashion of course.
I know, right!
I have credit. You obviously handle it well and keep it under control. Do you have an "emergency fund" or "gear fund" or anything like that saved up?
I know, right!
I have credit. You obviously handle it well and keep it under control. Do you have an "emergency fund" or "gear fund" or anything like that saved up?
and, if so, where, exactly, do you keep it?
+ a gazillion. Credit cards are the debil...
That's kinda like saying we should ban guns because guns kill people.
okcrum
in your chest
Really? I must have missed that clause in the contract...
If you can't understand how to use credit, you can never understand how to use it wisely.
That's a good point (although I didn't call for gov't to ban credit cards). There are far too many people who have no idea how to use credit responsibly, and they don't want to hear it when you try to help them get their finances under control. There are those who use credit cards responsibly and pay off their bills every billing period. I apologize for saying credit cards are the debil...
I did it numerous times back in the 80's when I wasnt married, had no kids, no house to pay for etc. All I had was my car payment and booze to pay for. (ahh those were the days!)
Since then, I've done it 3 times, all on a same-as-cash basis. About 3 years ago I did a 12 month SAC @ Sam Ash for my ESP LTD. I paid it off in about 9 months (with my wife looking over my shoulder every month). Then they closed my account when I hit the 1 year anniversary for "lack of activity"- I kid you not.
The other 2 were different. I ordered a custom from a luthier. I sent him a deposit, 1 or 2 small progress payments for specific parts and then the final balance. The other one will be paid off at the beginning of next month. I worked out a deal with a TBer to buy a bass by paying it off over a couple of months. These last 2 were different because I didnt get the bass until I was done paying for it. Really, these were interest-free "layaways" as opposed to the "instant gratification" of a credit card purchase.
But I still cant stand here and say definitely that no one should ever buy a bass/amp/cab on credit. Everyone's circumstances are different. Sure, buying on credit is not the best idea in the majority of cases but sometimes you just dont have a choice. Or your economic situation is set up to where you can afford to take on the added bill until its paid off.
Since then, I've done it 3 times, all on a same-as-cash basis. About 3 years ago I did a 12 month SAC @ Sam Ash for my ESP LTD. I paid it off in about 9 months (with my wife looking over my shoulder every month). Then they closed my account when I hit the 1 year anniversary for "lack of activity"- I kid you not.
The other 2 were different. I ordered a custom from a luthier. I sent him a deposit, 1 or 2 small progress payments for specific parts and then the final balance. The other one will be paid off at the beginning of next month. I worked out a deal with a TBer to buy a bass by paying it off over a couple of months. These last 2 were different because I didnt get the bass until I was done paying for it. Really, these were interest-free "layaways" as opposed to the "instant gratification" of a credit card purchase.
But I still cant stand here and say definitely that no one should ever buy a bass/amp/cab on credit. Everyone's circumstances are different. Sure, buying on credit is not the best idea in the majority of cases but sometimes you just dont have a choice. Or your economic situation is set up to where you can afford to take on the added bill until its paid off.
- Sep 9, 2007
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This. And this comes from someone that five years ago, was easily over 12k in debt, with creditors calling left and right. At this point, my wife and I have our car and mortgage for debt, and maybe $300 in CC.
If you make a plan of attack, you can take a loan for an instrument. Lots of orchestral players do this all the time.
I know, right!
I have credit. You obviously handle it well and keep it under control. Do you have an "emergency fund" or "gear fund" or anything like that saved up?
Yep... because I know stuff happens.
I also didn't go crazy buying a McMansion or high dollar vehicles just because I could afford it on paper. That's another trap people fall into way too often IMO. Borrow to the hilt, then surprise, life happens. As if that weren't always a possibility.
