Crap, money help.

[Wafflesomd]

So I'm stuck between a rock and a hard place here.

I have to buy a tuba for college, and it's becoming impossible. I've been borrowing my old high schools tuba over the summer while I take lessons with my college's instructor.

Now, there is no way I can buy one in full right now. I've been asking around about financing something of such high price. No luck The college doesn't have any either BTW.

I can't get any loans because I don't have any credit, and my parents credit is piss poor. Which doesn't matter because they won't support me in music anyways.

I've had a few ideas.

Get a credit card, buy a tuba, pay it off. My friend told me this was a bad idea, saying that I don't want to have a standing balance.

Buy a credit card, use it for small things, pay those off, then have credit to get a loan.

Other than that I'm at a total loss. From the looks of it, I'll have to either go to college for a year without playing, or just don't go till I buy one.

I do wash dishes at a restaruant for minimum wage, but making enough for a tuba would take a very, very long time.

I'm fukked right?

 

[stratman]

Have you tried pawn shops?

 

[Dolby CP-200]

Have you tried pawn shops?

LOL pawn shops yeah second hand stores might be you’re last best hope in finding a good descent deal of the day.

 

[MDS]

Get a credit card, buy a tuba, pay it off. My friend told me this was a bad idea, saying that I don't want to have a standing balance.

Buy a credit card, use it for small things, pay those off, then have credit to get a loan.

The credit game is messed up but the first option of buying the tuba and paying off the card over time is how you build credit. Just be careful not to fall into the trap of charging so much that you end up missing payments. When you are just starting out, you may have to pay just the minimum payment but with the high rates of a credit card (especially for someone with a limited history), making minimum payments will cause you to pay far more than the cost of the tuba.

The second option actually won't be any different. If you make timely payments, your credit score will steadily improve but you won't likely qualify for a loan at a lower rate anyway due to the same limited credit history.

There are many factors that affect your score and you can go to myfico.com to learn about them but the biggest ones are making timely payments and the ratio of your outstanding balance to the total credit available. Manage it properly and your score will improve over time.

Eventually you get to my situation. My score is over 800 and yet I lose a few points due to 'lack of revolving debt'. In other words, the fact that I am debt free and don't charge much actually hurts me, although only minimally. That is why I say the credit game is messed up - the credit card companies don't know anything about your assets, only how you make consistent payments and maintain a low ratio of debt to total credit.

 

[jimfitz]

I would say definitely do not delay college a year because you can't afford a tuba. If necessary, get one year of school in before you enter the music program. A balance on a credit card is not a bad idea. You can find credit cards with zero percent interest for the first year or 6 months or whatever. When the time is up, get another credit card and pay off the first one. This is only a good idea if you have enough income to make the payment and are disciplined enough not to buy other stuff with the card. I bet there are numerous tubas sitting in peoples' attics not being used. Maybe you could advertise for one.

 

[Sheep]

Get a better job.

SheepStar

 

[The Dukester]

Just how much does a tuba cost!?

Credit can be a good thing...and a bad one. You have to master it and not the other way around. Have you considered getting a different job? Instead of washing dishes, can you possibly get a waiting job at the same or a better restaurant? I have had friends and acquaintances that worked limited hours at the better places and paid for their college and spending money to boot. Just a thought.

One advantage of a credit card over a small loan is that if you get in a bind and can't make a regular payment, you can just pay the minimum amount where a bank loan is the same amount every month.

I think it's good advice to go to school whether or not you have to wait a year to pick a tuba up and resume your lessons. The degree will probably get you a lot further than learning to play the tuba better

Best wishes on both aquiring your instrument and furthuring your education. I commend you

 

[Wafflesomd]

Credit can be a good thing...and a bad one. You have to master it and not the other way around. Have you considered getting a different job? Instead of washing dishes, can you possibly get a waiting job at the same or a better restaurant? I have had friends and acquaintances that worked limited hours at the better places and paid for their college and spending money to boot. Just a thought.

One advantage of a credit card over a small loan is that if you get in a bind and can't make a regular payment, you can just pay the minimum amount where a bank loan is the same amount every month.

I think it's good advice to go to school whether or not you have to wait a year to pick a tuba up and resume your lessons. The degree will probably get you a lot further than learning to play the tuba better

Best wishes on both aquiring your instrument and furthuring your education. I commend you

But my degree will be in music :/

 

[Haoleb]

The way That i look at money on credit cards etc, Is look at it as another way of paying cash for something. Not a way of paying for something that you havent the money to buy.

Have you actually tried getting a loan? It looks like you could get a used tuba for around 1,000-1,500 bucks which is alot for someone in college but you might be able to find someone to get a loan from. Even though I also see interest as thrown away money, Unfortuantly its how you build credit.

And then there's always the ole' sperm bank. They will probably pay you for something your happy doing for free Hey, do whatcha gotta do! Must the show go on!

 

[The Dukester]

That definately sheds a new light on the matter. Have you asked your teacher if he knows of anyone that has a used one for sale? Maybe they could owner finance one, if you can keep your job and go to school full time. Just be careful if you do owner financing!

BTW, what state do you live in? You can PM me if you don't want to post. Just thought if you lived nearby, I might could help in some way

 

[Haoleb]

Here ya go.

http://www.cryobankdonors.com/newdonors/index.cfm?ID=4

Up to a grand a month! not bad!!

 

[jimfitz]

I see you have been around here for a while, so I assume you have some HT stuff. Sell it.

 

[MDS]

But my degree will be in music :/

I don't know how it works where you live, but you generally have up to two years or 60 credits before you must formally declare a major.

I agree with jimfitz in that you should not forgo starting college just because you don't have a tuba that you will ultimately need when you do get in your college. Besides, you could very well land an internship or something along those lines when you start school and things could change.

Building credit is a requirement but too many people, even people way out of school, use credit to buy things they cannot afford. That is the sure path to financial destruction. If you buy on credit, just manage it appropriately and resist the temptation to use it for everything and anything.

College years are great years but trust me life doesn't really start until you are done with it and the hard work pays off.

 

[pzaur]

I don't know how it works where you live, but you generally have up to two years or 60 credits before you must formally declare a major.

I'll have to say that any music major can't spend the first two years working on only the General Studies. I've got a degree in Music Education and I took, on average, 19-20 hours of classes per semester. A full load is considered 18 hours. It's rare to find a music major who isn't taking an overload amount of semester hours.

I also must admit that the 19-20 "hours" of class is really about 25 hours in reality. Most of my classes were considered "1 hour" because of the amount of courses I had to take to graduate in 4.5 years.

Wafflesomd - I pm'd you. I may be able to help you find a tuba. I've got some local connections here in Phoenix. You first need to set a budget as to what you can afford. Not always what we want. There are tons of fantastic instruments out there.
Some places to check:
Trombone Journal Classifieds (at the bottom)
Other Classifieds

Money sucks being a musician OR a student. Form a brass ensemble with others. As a brass player you can get TONS of gigs around the holidays. Start asking what's out there. Money to be made during Christmas/New Year's is absolutely insane!

-pat

 

[MDS]

Ok, I admit I don't know anything about the requirements of a music major. In general, you do have to take all the pre-requisites to be accepted into your college of choice but does that mean that you must take classes that require you to own an expensive instrument if you are a music major?

I was a Computer Science major and it may well be different but owning a computer during the first two years before being accepted into the collge of engineering was not a requirement.

Regardless, I would look to buy used. Building credit at an early age is certainly a good thing but always beware of falling behind and doing more hurt than good. College is the foundation from which you launch a career but the last thing you want to do is enter the workforce in debt up to your eyeballs (unless of course you get satisfaction from following the status quo and are ok with a life of debt).

 

[pzaur]

Wafflesomd - I pm'd you again. Let me know if it arrived.
-pat

 

[pzaur]

Ok, I admit I don't know anything about the requirements of a music major. In general, you do have to take all the pre-requisites to be accepted into your college of choice but does that mean that you must take classes that require you to own an expensive instrument if you are a music major?

I was a Computer Science major and it may well be different but owning a computer during the first two years before being accepted into the collge of engineering was not a requirement.

Regardless, I would look to buy used. Building credit at an early age is certainly a good thing but always beware of falling behind and doing more hurt than good. College is the foundation from which you launch a career but the last thing you want to do is enter the workforce in debt up to your eyeballs (unless of course you get satisfaction from following the status quo and are ok with a life of debt).

MDS - sorry if I came off a bit blunt/crass. Wasn't my intent.

It's basically an implied thing that anyone studying in music will own their own instrument, except for piano majors. The larger brass instruments are normally not purchased by families in high school years because of their size and cost. Every high school has tubas, euphoniums, and French horns and typically the larger woodwinds. With that in mind, why buy when the school has one for you to use?

If an incoming student doesn't own a "professional" instrument, then chances are that they will be "encouraged" to upgrade to it as soon as possible.

A new tuba can run anywhere from $1,500 to $21,000 in price. Of course there is a HUGE difference in quality between the beginner instruments ($1,500) and the intermediate/professional instruments (~$4,000 and up).

There are also multiple types of tubas to choose from Bb, C, F, Eb tubas. Three, four, and five valve behemoths to make it even more confusing.
(In case you're wondering what the difference is between them:
1 - size and pitch range
2 - The note name attached is the fundamental pitch that can be played with no valves pressed. Also called "open")

The tubas that my school district buys for 5th/6th graders are 3/4 sized and cost $1,200. High schools will spend ~$5,000 on a new tuba.

The initial investment for anyone studying music is very large compared to most any other degree. It also takes a longtime to recoup that cost. Working while studying is also a challenge since a lot of "free" time is spent in the practice room. On average, I spent about 3-4 hours a day playing my main instrument. That doesn't include time spent learning all the other band and orchestra instruments (flute, clarinet, oboe, bassoon, trumpet, horn, euphonium, trombone, tuba, percussion, violin, viola, cello, bass).

I totally agree with the "Buy Used" sentiment from MDS. 100% on.

-pat

 

[MDS]

Pzaur,
No offense taken. Like I said I'm not familiar with the requirements of a music major and now I know a bit more (and I thank you for that). As a long time music lover, but not musician, I encourage those that are interested and/or have some skills to go into the field. I can live without TV no problem, but a life without music would be unbearable.

Damn...$2K - $20K or more for a tuba. I had no idea. You can build a kick-*** computer for a few grand. I am a programmer and didnt't have a 'real' computer until well after I started my first job.

 

[10010011]

How about a student loan, pell grants, or scholarship?

 

[Joe Schmoe]

I can't believe that the college doesn't have an old tuba that you can use until you get your own, especially as a music major.