Timing and Justifying an expensive purchase.

JezWynd

p90fool said:

Use it to earn money? 

Quick.... smelling salts.

adamm82

guitars4you said:

adamm82 said:

guitars4you said:

many will look at it in different ways - income and expenditure will always come into place, plus priorities on other issues

Bottom line is if you can afford it you don't need to justify it - If you can't afford it then you can't justify it

An other angle is what pleasure it will give you for 10 years and hopefully more - Of course £5000 or so is a lot of money - but £5000 over 10 years equates to 

£500 a year - or £41.66 a month - so just over a £1 a day - repeat a £1 a day - that is less than a s*it coffee from any main street coffee shop - Now is it expensive ? - and bare in mind at the end of 10 years you still have all the collateral in the guitar and probably more

This is great. £5000 is actually what I had in mind so you've even worked it all out for me. If I get it any cheaper I will use the spare cash on other items like drugs and hookers.

now the balance - don't buy the first one you see if it isn't right - Don't let leave it to long in case you end up needing the funds for something else

Yep. Unfortunately the one I wanted was in Norms in October when I was in LA. bad timing i shouldn't have tried it really.

Phil_aka_Pip

guitars4you said:

many will look at it in different ways - income and expenditure will always come into place, plus priorities on other issues

Bottom line is if you can afford it you don't need to justify it - If you can't afford it then you can't justify it

An other angle is what pleasure it will give you for 10 years and hopefully more - Of course £5000 or so is a lot of money - but £5000 over 10 years equates to 

£500 a year - or £41.66 a month - so just over a £1 a day - repeat a £1 a day - that is less than a s*it coffee from any main street coffee shop - Now is it expensive ? - and bare in mind at the end of 10 years you still have all the collateral in the guitar and probably more

^ This, plus the bit in bold absolutely ^ Wis!

Fishboy7

If you buy wisely it's the same as money in the bank. You can always liquidate the asset if necessary. 

slacker

It all depends on circumstances. When the kids were small and Mrs S didnt work full time, I had a pay freeze and the mortgage was 12% I had one instrument and got new strings for my birthday. 

When the kids were not in nappies and Mrs S worked full time and I had unlimited overtime I had 4 instruments. 

Now the mortgage is minimal and Mrs S earns more than me and buys a new car and tell me after, I have more gear than a small shop. 

This month alone I bought a Gretsch and a CS Strat and told her after. 

Hattigol

Fishboy7 said:

If you buy wisely it's the same as money in the bank. You can always liquidate the asset if necessary. 

This is absolutely right - see my previous post on the subject.
It's not 'spending' at all - spending is when the money is gone. Your cash balance may be down but your guitar credit is enhanced to the same value. It is asset adjustment. 

adamm82

Fishboy7 said:

If you buy wisely it's the same as money in the bank. You can always liquidate the asset if necessary. 

Then I find out it's fake.