Quote:
Originally Posted by noodles
Then learn discipline and self-restraint. Seriously. What happens if you lose your job and have no savings to fall back on while looking for a new one? Get evicted?
There isn't a single piece of music gear that I've ever financed. If I cannot afford to pay for my hobbies in full, then it is a hobby I cannot afford to have. There have been several occasions where my savings toward a piece of gear had to pay for an unforeseen emergency, and while I was a bit bitter at the time about it, I was always glad that I had several hundred (or more) in savings, rather than another monthly bill.
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Agreed 100%. So many people get into financial trouble by making the same excuse over and over. "I don't have the discipline to save for anything, but have no problem paying monthly payments."
This is exactly the thinking that sparked the sub-prime mortgage meltdown that's currently decimating the already fragile American economy. Too many people taking on debt that they couldn't
really afford to. We North Americans are addicted to instant gratification in many forms, and when it comes to money, free and easy credit is a quick fix for that addiction.