How do you budget for audio purchases?

Joey_V

How do you guys budget for audio purchases? Do you set aside a portion of your monthly earnings or savings for audio?

I did my account balances yesterday and I realized that I have not saved any money for the past 3 months, so I have given myself a restriction on anything audio until I hit a certain number with my account again.

WLDock

I've been dodging the home audio rabbit hole for ages now. Always had an ear, and loved music and played drums more in my youth than today. After the early trips to audio stores, I always had a goal to put together a "High End" system at some point. I was actually a B&W 802 matrix fan (In my mind) back in the day. (yet to herd the latest ones). I always thought that I could afford it as I got older, however, I was into too many things yeas ago and never had enough cash for "better" audio. Nothing has changed!

I'm house poor since landing in NW Indiana on '12 as my rent is high and the wife has not worked since we moved. Looking to buy a home but everything I really like is out of the budget. So, I find deals on CL, ebay, Best Buy clearance, etc. Even repaired some non functioning items and flipped those. I was sick when I missed on a deal that could have doubled or tripled my money on a flip. The guy was offering B&W CDM 9NT towers,B&W CDM CNT center, B&W ASW-1000 Sub, Rotel RSP-976 preamp, Rotel RMB-1095 amp, Monster HTS3500 power center for $1300. Could have gotten $900-$1200 for the 1095 amp alone!

Just last week I missed on a Conrad Johnson PV10AL tube pre for $50 that needed some work. The guy also had a B&K ST1400 Series II for $200 obo! bet i could have snag both for $200? http://milwaukee.craigslist.org/ele/4933312035.html
The Pre ended up back on CL for $650 from the tech that bought it and fixed it. That would have been the start of my 2 CH right there.

When I get my 2 CH rig together, it will be done like that, by way of a hustle! Because..."Money's Too Tight To Mention" - Simply Red

P.S.
Years ago, when I was a field service tech and big into car audio. I was trying to build a Sound Quality competition car. Over a year or two I funded $5K in gear with extra money from mileage reimbursement. That somewhat worked and the Mrs. was cool that it was not eating into our main money. She still wished that i would have taken a trip or bought something else with the money.

tonyb

I usually buy one or 2 pieces that I really want, then fill in the gaps with selling stuff or change jars that I fill up fairly regularly. My motto has been, after you have a couple key pieces in place, is if you want something, sell something. That way I don't accumulate stuff and the wife doesn't threaten me with an ax while I'm half asleep.

If you want those change jars to fill up quicker, start throwing all your single dollars in there at the end of the day.

polkfarmboy

I get money for non audio stuff and spend it on audio.

ZLTFUL

For me (and my wife), we set aside a percentage of our monthly income as an "allowance". This money we can use for whatever reason we want whether fiscally responsible or "mad money".

Right now, I have been setting most of my portion aside for the home theater when we build our house. We should have roughly 75% of the total build cost set aside in our joint savings/investments by the time we build. This will include the basic construction of the HT...walls, sound-proofing, risers and stage, screen wall framing.
The equipment, finishes, furniture and sound treatments will be on me to cover. I am hoping to have ~$50k set aside by then for just those things.

My wife is doing similar for her kitchen...she is a tech nerd like me but she loves to cook and has always wanted a professional level kitchen. This means Viking Professional appliances and a wood fired brick oven.

We are hoping that with our current financial planning to have to only take about 20-25% of the home's appraised value out on loan to finish it and then pay that off within 5 years.

We both have all of our vehicles paid for (except my Ducati which has 8 payments left) and our current "mortgage" is incredibly low as I had brought a big chunk into the relationship as I was saving for a house at the time we met. We re-fied and used that chunk to pay down what she owed on her place.

This has allowed me to be rather free with spending on this hobby. I have made some solid investments throughout my life (I asked my grandparents for stocks for my 15th birthday lol) that has left us, while not well off, well enough off to handle ups and downs. It allowed me to take a year off from work and spend the time traveling on my motorcycle throughout the US.

One thing that helps us out tremendously is that we technically live on one income. My wife makes nearly double what I do annually and we put away a big chunk of my salary.

Of course, having my rich grandfather in reserve helps too!

tonyb

polkfarmboy wrote: »

I get money for non audio stuff and spend it on audio.

Been watching "Breaking Bad" again ?

mrbiron

If i want something new, i first have to rid myself of the something old. When i was eyeing the M6Si that Tony posted to the world , i was close but needed to move the MCA20 first. Unfortunately, it didn't work out. Yet bummed, i wouldn't have made the purchase unless i had the money. Debt sucks and will not put a luxury purchase on a CC.

I'm allowed to sell anything that sits dormant which then goes into my rainy day fund ,paypal. This way, the wife can't touch it because she doesn't know my credentials.

WLDock

ZLTFUL wrote: »

One thing that helps us out tremendously is that we technically live on one income. My wife makes nearly double what I do annually and we put away a big chunk of my salary. Of course, having my rich grandfather in reserve helps too!

Oh God, I love your life! that all sounds awesome.

Oh how,do I wish I would have done better when I was younger. I turn 49 this yr and I'm in a better position than ten years ago but not really in some ways. I thought I would be further along.

polk500

Well I don't really have a budget for audio per say, but we do have a fun account each that we budget for and some years I have more than others so last year I was able to buy a couple of items.
And like others have mentioned I try and sell off stuff that I know longer need although this doesn't always work that well as the audio closet is quite full.....

Cheers
Roger

MrBuhl

same as many here - though I'm an "all of the above" answer - usually through parting with other gear for big stuff. I have been bad lately though - I'm behind on my selling!

My wife and I also do a small "mad money" allowance that is outside of family finances - I also squirrel that away like a heat miser for audio purchases as well.

And finally - I also use the change jar method - it adds up over time in a pinch!

steveinaz

Prostitute myself out, and steal money out of my wifes purse.

polkfarmboy

Nice Steve, how much do you charge and what kind of services are included.

oldrocker

First off, hope them new toys you just got are all you hoped for and more.
Second, so good to hear you and many others here actually think about this topic.

As for me, I don't buy stuff to resell, I buy to hear different sounds.
I do not have a "magical" percentage of my disposable income I go by.

I do try to put back double whatever the sales price of something I do purchase for future purchases. I have also decided to stop beating myself up when I don't pull the trigger from time to time.

One of the best things on my "budgeting" for this hobby, is the people in this room and the wealth of knowledge I have gained on how much to spend on any given item.

oldrocker

I agree Skip. Although, I have told my wife, I'm going to have a sale one of these days, she just laffs and says, Right...

ZLTFUL

WLDock wrote: »

Oh God, I love your life! that all sounds awesome.

Oh how,do I wish I would have done better when I was younger. I turn 49 this yr and I'm in a better position than ten years ago but not really in some ways. I thought I would be further along.

It has helped being madly in love with my wife and having her be completely supportive of any decisions I may make that affect both of us.

It is really corny but I don't think she has ever told me no when it comes to a purchase. If it is a bad decision, she will interject her view but still won't say no. She leaves me to make my final choice. We are really balanced in our relationship.

ZLTFUL

*In my best Captain Jack Sparrow impression, "Mate, you sound like you got your priorities sorted out!"

pongshi

I have thousands of records at home and I sell some on discogs.com, so I very seldom have to go in to the bank account. I use this to finance my audio purchases. I also do a lot of trading with a few other audio afflicted folks.

EndersShadow

I sell blood and whatever organs are worth the most......

I also sling crack and sell meth outta a van down by the river when I'm not at work......

Ryan's met me and would agree I look the type

ZLTFUL

I told you Dan, I am NOT interested in your remaining kidney!

gce

I just don't eat. Works 2 ways, I get my stuff and loose weight.

jflail2

I honestly just go ahead and buy it if I reallllllllly want it. But am always looking to maximize the bang for the buck ratio. I don't flip gear like many folks here do though, and I also don't have nearly as fancy gear as most folks here. My Rti HT set up is "high falootin" for me, so I won't be buying anything new anytime soon.

But to each his own. I have other hobbies that chew into my spending $$ as well (shooting for one), so I'm not all in on one hobby either.

Joey_V

DSkip wrote: »

Honestly? Flipping gear and gifted money. I don't touch income. My entire system has been built on that premise.

But you had to start with something right? You don't just get gear without having to spend for it.

voltz

working 22 weeks straight of 10 hours a day and 6 days a week, (overtime money) + tax return + bonus (just got a bonus of $1790 for the quart).

nooshinjohn

tonyb wrote: »

polkfarmboy wrote: »

I get money for non audio stuff and spend it on audio.

Been watching "Breaking Bad" again ?

I was thinking crack sales must be booming in North Dakota...

Joey_V

So I thought about it.

This is how I thought about funding my purchases - I took a side job as an assistant medical director for the EMS (ambulance) system for the town I live in and my pay from that was going to go directly to anything I wanted to purchase.

That said, it just ended up going to my 11 month old daughter's bank account.

chefkungfu

We have a bit of a cushion set aside for the audio gear. But, If I need to, I'll sell some of my n-scale train stuff and r/c stuff when the cushion gets to critical levels. But it's rare that I have to do that. I normally save for the audio stuff I want, but I only buy if I really want it. Otherwise that cushion keeps growing.
I do find myself taking from it for stuff I don't really need from time to time, For example, I'm starting to look around for a set of SDA SRS.
I have an addiction for audio gear and think I need help! It's so hard not to empty the funds we have set aside...

[Deleted User]

Ha! F&F just blew up my budget. Guess I have to sell some stuff
like some...

BlueFox

Unfortunately, the last few years I went on a binge, and spent retirement savings. I justified it by saying I may as well enjoy it now, since once I retire there will be no purchases. This money came from bonuses, stock options, and savings. I have really slowed down recently, but Saturday a Lumin S1 arrived. Review upcoming.

Joey_V

rednedtugent wrote: »

Ha! F&F just blew up my budget. Guess I have to sell some stuff
like some...

Yah man, it's hard to deny these great deals

cfrizz

I don't budget, I simply get what I want. But I know that I'm going to keep it for YEARS. When upgrade time comes it's usually because something broke so it goes into the trash.

My youngest piece of gear is the DSW Pro 400. Everything else is well over 10 years old.

I'm not interested in constantly upgrading, or messing around with the innards of what I have or constantly experimenting. It does what I need it to do and that is more than enough for me.

When friends come over for movies, they absolutely love the sound which is what it's all about.

I only upgrade when I need or want to. Then I get what I want and sit back and enjoy it knowing that it is the best thing that I want and it will give me years of enjoyment.

Joey_V

DSkip wrote: »

Joey_V wrote: »

DSkip wrote: »

Honestly? Flipping gear and gifted money. I don't touch income. My entire system has been built on that premise.

But you had to start with something right? You don't just get gear without having to spend for it.

Gift money and flips. Never touched the income. I might have to touch it for the x, but I'll pay it right back. I've got quite a deposit of play money into that account though.

When you say you're going to pay it back, what do you mean? How do you pay yourself back?