I'm curious. So many great new cameras coming out and at ever more affordable prices. And yet I'm still a bit surprised how many of us are willing to pay the money for these expensive new technologies. In a recession, I just have to ask how other people are managing to do it. So I whipped up this quick poll.
Borrowing to buy camera equipment in a recession - A POLL
- Thread starter sean90291
- Start date
ryan brown
lOwEr CaSe Member
After 8 years of paying off credit cards and various loan payments equaling almost 40K, I've learned my lesson, and also learned how to save for the gear I need. Unless I have a strong business plan established and know I can pay off quickly, or am buying gear for an upcoming high paying gig, I don't borrow. And if you're just an individual that wants a camera, and have no model established of how to pay for it, I'd advise the same. Debt blows.
Barry_Green
Moderator
Debt is a two edged sword. If you have a definite business plan and a proven way to make money, but you need to take on some debt to make the venture fly, then ... that's a valid use for it.
If you're buying something expensive, on credit, just because you want it or you think it's cool... That's just foolish.
If you're buying something expensive, on credit, just because you want it or you think it's cool... That's just foolish.
As above, the business plan is everything. If projections show that the purchase will bring additional income, then I'm willing to go for it. If not, I don't. Obviously it gets a little more complicated than that, but the basic idea is simple. All of my previous purchases have been done mostly in cash after a period of saving and a lot of research. I don't have any plans to buy new cameras. A lot of great ones have come out since my last purchase and continue to do so, but with my current business activities they wouldn't provide enough benefit to be worth the investment. Instead I rent when something higher end is needed. I've never personally been in debt, but I grew up with parents who were always struggling, so I learned.
HorseFilms
Look ma no hands
If you have even semi-regular work coming in, $2000 can be made rather quickly. In that case, a loan would be perfect. That's actually what I did years ago when I bought my DVX.