10% of their income on audio related purchases

[trEs2b]

Say this on another forum, does this hold true for most of you?
10% of their income on audio related purchases
http://www.dagogo.com/doug-schroeders-audiophile-law-5-hifi-expenditures

 

[herbu]

10% of their income on audio related purchases

That would be idiocy!

 

[trEs2b]

That would be idiocy!

Depends how you look it at. 10% spent a year on audio or 10% for a system that you will have for 20 years or forever.

 

[zhimbo]

Hmmmm...there isn't a lot of detail, but maybe that survey more heavily represents people who are in a "buying" phase, and were therefore more likely to looking at audiophile magazines to respond to a survey??? I can see spending >10% of one's income when setting up a new home theater, for example (if you're making $60K/year, that would mean spending $6000+, which is pretty easy to do).

If you're spending that chunk of income year after year, though...?

 

[trEs2b]

10% if definitely excessive but spending 10% a year on any hobby is not unrealistic for many people.

I agree 60k salary and spending 6k really isn't a big deal....

 

[herbu]

If you're spending that chunk of income year after year, though...?

Idiocy.

 

[trEs2b]

10% every 5-7 years really isn't even that bad..

Thats probably about where i'm at.

 

[zhimbo]

10% every 5-7 years really isn't even that bad..

Thats probably about where i'm at.

Well, that would average out to about 1.5-2% per year. That's definitely less alarming than 10% on average.

 

[AcuDefTechGuy]

That depends on your income and how long you plan on keeping that system.

I don't think many people spend 10% of their incomes EVERY YEAR on audio. They might spend 10% once every 30 years.

A person with an annual income of 100K might spend 10K on his system once every 30 years, not every year.

 

[fuzz092888]

10%............seems low. I mean, who needs to eat

 

[Irvrobinson]

10% of your gross income in a single year? Not aftertax income? I'm pretty serious about audio, but I can't imagine spending 10% of my gross income on a system. I doubt even Gene has delved into that territory, accounting for actual prices he's paid, and this is his business.

 

[Bizarro_Stormy]

10% of their income on audio related purchases

Tithing to the audio gods..?

It's better than throwing virgins into a volcano...
though not by much...

 

[KenM10759]

I probably spent 10% last year, but averaged maybe $100 a year in the over 30 years prior to that. Having caught the bug (for now), I might spend the same this year and for a year or two beyond that but then be done until I'm expired.

 

[herbu]

Kidding aside, audio is a luxury, not a necessity. After your necessities are budgeted, feel free to spend your disposable income as you wish. Some buy expensive boats, cars, homes, travel, clothes, etc. Prioritize audio wherever it fits for you, but ONLY with disposable income. If you can spend 10%/year without affecting your savings, insurance, family, etc... more power to you.

 

[3db]

Hmmmm...there isn't a lot of detail, but maybe that survey more heavily represents people who are in a "buying" phase, and were therefore more likely to looking at audiophile magazines to respond to a survey??? I can see spending >10% of one's income when setting up a new home theater, for example (if you're making $60K/year, that would mean spending $6000+, which is pretty easy to do).

If you're spending that chunk of income year after year, though...?

That 10% can still be too much money. I could not afford 10% of my income while paying my kids professional ballet training. It really depends on a lot of things. Blanket statements involving a percentage of income is really not a realistic target in the real world. It really is priority dependent.

 

[sterling shoote]

I buy non essentials only when I can do so without treating credit as income. I think buying anything using credit other than possibly a mortgage is risky. It can lead to so much stress and unhappiness. Live within your means, that's to say, you should buy your electronics with cash. You'll know how much to spend since saving cash leads to not wanting to part with it. BTW, if you can't save for it then you can't afford it for sure no matter what it is. One more thing, one way to get what you want but can't afford is to buy vintage.

 

[bsf]

My wife and I gross around 150k/year together. I have spent about 15k on audio, this should last me 10-15 years.

 

[Cos]

I have come close a few years to doing that, but I have really spread out my spending, the most I think I spent in a single year was 15k. The great thing about Amp and Speakers, that unless you are ADTG, you don't upgrade those every year...

This year will be bad for spending too, I plan on picking up an ATI 4007 and 4004 to replace my 3 parasound amps

 

[slipperybidness]

I probably spend 10% or 15% of my income each year on various hobbies. But, audio isn't my only hobby!

 

[tyhjaarpa]

I probably spend 10% or 15% of my income each year on various hobbies. But, audio isn't my only hobby!

I'm pretty close to 10% on hobbies every year as well, audio just happens to be one of my hobbies. Tho when I'm finished with my setup I won't be upgrading it for a while, so mone money for other hobbies!