I now have access to the money!!!!
Posted by: Consciousmess on 28 August 2008
Hi all,
I have to write this message as I am soon to receive a credit card with just over 5500 credit limit, and I plan on using it to its max.
Before I ask my audiophile question, the reason why I am going to do this is because I want to reach as high up the Naim ladder as I can and my other half is going to start wanting children in the next 3 years. I want to get all my selfish purchasing done before then as I know afterwards my hifi upgrading journey comes to a halt. I also want to enjoy it in peace. Incidentally, I can afford to pay the minimum amount each month for the credit card and like to think I work in a very stable line of work (teaching).
So with this money, I am in a slight dilemma. As you can see on my profile I currently have:
CDS3+XPS
NAC282+Hicap+NAPSC
NAP300
B&W805s speakers
I have been conscious (!) that the NAC282 needs the Supercap2 to properly shine and bring out its best with my NAP300. I am also conscious that my speakers are letting the whole proceeding down as I only hear bits of what my electronics are doing.
(I suppose my username sums up my scenario.)
On the speaker front and based on the size of my listening room, I want to go further up the B&W800 series (aesthetically gorgeous) and so my purchasing dilemma is this:
B&W804S + SC2: 2700 + 3200
B&W803S: 3800 + some upgrading change.
So what do I do? I will also have items to sell and perhaps get back some further money back; this might go towards an engagement ring!
I want to get my final speakers and feel the B&W804s aren't quite there, but then again if I get the B&W803s I wont have much spare cash for a SC2, let alone the 555PS.
I would be so helpful if you could advise as I'm spending large amounts of money (to me) and I dont want to get to a dead end where I know Im missing key Naim electronics.
Many thanks in advance!!!
Jon
Posted on: 28 August 2008 by 555
quote:
Originally posted by Consciousmess:
Many thanks for the finances advice guys, but I am currently debt-free apart from the joint mortgage with my partner.
quote:
Originally posted by Consciousmess:
I have to mention that I did get a bank loan to buy my NAP300, so I already have hifi debt and the only way for me to reach even better Naim heights is through borrowing money again.
(She doesnt know about this by the way, but white lies harm no-one.)
Posted on: 28 August 2008 by DaveBk
Sorry to wade in late, but as the starter of the other aspirational Naim thread I feel I have to comment.
I'm in the lucky position to have the money I need for my upgrade in the Bank, and can only echo the thoughts of others: borrowing for 'nice to have' items is risky... the economic climate in the UK is the worst for over 16 years and I still remember the negative equity I had in the last recession!
You have to enjoy life and we all get pleasure from listening to great music through great equipment, but please be careful as the advice offered here is sound.
Posted on: 28 August 2008 by spacey
the best upgrade or way of spending your cash would be on new music... its alot cheaper and you will enjoy it much much more. the setup you have is a dream system to many and if you cant enjoy what you have go and find another hobby as its clearly not working for you.
Posted on: 28 August 2008 by bec143
This has got to be a joke.
If not, I suggest holding a half-plugged in mains cord while standing in bathtub full of salted water (sure a 500 would be better, but the 300 should do the job).
Posted on: 28 August 2008 by Stover
After going up and down the ladder a couple of times, I just went directly to the system that I wanted. To get it over with, but I HAD the money.
You already have a great system. Me, I would add a fraim, change the speakers and then live happily ever after, just adding more music.
Best
Steinar
Posted on: 28 August 2008 by pjl
Jon,
You ALREADY have a bank loan for hi-fi and your wife doesn't know about it.......???!!! I am beginning to suspect this whole thing is a p... take. I sincerely hope you are winding us all up. If not then I strongly recommend you to seek psychiatric treatment at your earliest convenience. Unless of course your long-term plan is to destroy your life and your marriage.
Peter
Posted on: 28 August 2008 by Ancient Mariner
Thats a lot of money to borrow on a credit card. I built a new pc this year and used my credit card for that and its going to take a while for me to pay that off. But you obviously must know what your doing I guess.
Posted on: 28 August 2008 by u5227470736789454
Hiya Jon,
I hope this is a troll, or a wind-up, but if not take heed of what the others are saying, to spend your own money is one thing, but to spend a creditors money is another. They want their (read your - pound of flesh plus interest, arm, leg etc ).
If it is your money you really think about it cos' you can only spend it once, if it seems to be "free" money you don't, the other issue is if you buy it with your money (saved cash) I think you appreciate it more.
I am just beginning on the Naim path and I am impatient but I have to say in that it's own way having to think about how I spend my limited cash is quite nice, but then again I enjoy learning about things from more experienced folk.
I understand the earlier comment about cars but the same rules apply, you've still got to be able to pay for it. Take a moment of reflection, the best things are worth waiting for
Take it easy and whatever your decision is good luck
Barrie
Posted on: 28 August 2008 by Chris Dolan
It would be extremely hypocritical if I criticised Jon's credit proposal as I did a very similar thing last year.
I made some significant (for me anyway) upgrades using the ability to have 12 months interest free credit on purchases on a new credit card.
I did pay the minimum amount required each month to the credit card company but budgeted to clear the balance within the twelve months interest free period.
I therefore put enough each month into a high interest earning account to do that and then cleared the balance before any interest on the credit card accrued.
I fully appreciate that credit circumstances are very different a year on but using credit sensibly can have benefits.
Chris
Posted on: 28 August 2008 by hi fi fo fum
Jon there is another way, us the card to make smaller buys....and pay it off really fast,,,each month they will give you more credit so in 5 months you might find you have a 10 grand limit then you can really go to town.
Posted on: 28 August 2008 by JWM
quote:
Originally posted by Consciousmess:
I am not into fast cars nor expensive holidays, I have a roof over my head, a job, a partner, all the cliches like a loving family etc.
Cliche?? Surely not??!!
It's what a lot of people would give their eye teeth for.
Posted on: 28 August 2008 by ewemon
quote:
Originally posted by hi fi fo fum:
Jon there is another way, us the card to make smaller buys....and pay it off really fast,,,each month they will give you more credit so in 5 months you might find you have a 10 grand limit then you can really go to town.
Typical advice from a trader.
Bet you wish he was popping into yours for an audition.
Posted on: 28 August 2008 by u5227470736789454
quote:
Originally posted by Chris Dolan:
It would be extremely hypocritical if I criticised Jon's credit proposal as I did a very similar thing last year.
I made some significant (for me anyway) upgrades using the ability to have 12 months interest free credit on purchases on a new credit card.
I think Chris is right, and if you are planning to take this approach then more power to your elbow, however if your planning is a little more "fluid" take care,
good luck
Barrie
I did pay the minimum amount required each month to the credit card company but budgeted to clear the balance within the twelve months interest free period.
I therefore put enough each month into a high interest earning account to do that and then cleared the balance before any interest on the credit card accrued.
I fully appreciate that credit circumstances are very different a year on but using credit sensibly can have benefits.
Chris
Posted on: 28 August 2008 by droodzilla
quote:
Originally posted by JWM:
quote:
Originally posted by Consciousmess:
I am not into fast cars nor expensive holidays, I have a roof over my head, a job, a partner, all the cliches like a loving family etc.
Cliche?? Surely not??!!
It's what a lot of people would give their eye teeth for.
Well spotted, JWM. This is a portrait of the perfectly ordinary happiness to which many aspire, and which is so easy to take for granted.
Posted on: 28 August 2008 by u5227470736789454
quote:
Originally posted by baz100:
quote:
Originally posted by Chris Dolan:
It would be extremely hypocritical if I criticised Jon's credit proposal as I did a very similar thing last year.
I made some significant (for me anyway) upgrades using the ability to have 12 months interest free credit on purchases on a new credit card.
I think Chris is right, and if you are planning to take this approach then more power to your elbow, however if your planning is a little more "fluid" take care,
good luck
Barrie
I did pay the minimum amount required each month to the credit card company but budgeted to clear the balance within the twelve months interest free period.
I therefore put enough each month into a high interest earning account to do that and then cleared the balance before any interest on the credit card accrued.
I fully appreciate that credit circumstances are very different a year on but using credit sensibly can have benefits.
Chris
Posted on: 28 August 2008 by u5227470736789454
I think Chris is right, and if you are planning to take this approach then more power to your elbow, however if your planning is a little more "fluid" take care,
good luck
Barrie
Posted on: 28 August 2008 by abbydog
Recession = distress sales = great buying opportunity for people with cash.
Be the buyer with cash you save by not paying off the credit card - otherwise you might become the distress seller.
Posted on: 28 August 2008 by Jim Lawson
What do they say about a fool and their yet to be earned money?
Posted on: 28 August 2008 by kuma
This must be the first time a upgrading question thread ended up in a Padded Cell.
Interesting times.
Posted on: 28 August 2008 by TomK
I've been there, done that and I assure you it ends in tears.
Think very, very carefully before you take on such a debt, especially in the current economic climate.
Posted on: 28 August 2008 by Bruce Woodhouse
quote:
Hi all,
I have to write this message as I am soon to receive a credit card with just over 5500 credit limit, and I plan on using it to its max.
Before I ask my audiophile question, the reason why I am going to do this is because I want to reach as high up the Naim ladder as I can and my other half is going to start wanting children in the next 3 years. I want to get all my selfish purchasing done before then as I know afterwards my hifi upgrading journey comes to a halt. I also want to enjoy it in peace. Incidentally, I can afford to pay the minimum amount each month for the credit card and like to think I work in a very stable line of work (teaching).
So let me get this clear. You want to go deeply in debt to pay for something you consider totally selfish, which you'll still be paying off when kids arrive-an event you think will ruin your 'peace'. You have lied to your wife about a loan you already took out to buy an amplifier (but "white lies harm no-one"). I presume you intend lying to her about the cost of this next upgrade too?
You talk about gaining the 'ultimate system' as a goal for which time is running out, and later on mention that you had not considered a particular speaker because it did not look 'sexy'.
I know you aren't looking for financial advice, however does the response of most of the Padded Cell to your plan have any impact?
You do not now have have 'access to the money'. You have access to the ability to allow somebody to make money from lending you the money.
My observations are personal and I hope you can take that on the chin.
I have no idea what HiFi boxes you should upgrade to but I'd suggest two things. Firstly you will
never be satisfied with your HiFi. Whatever you spend this time you'll always be looking and wondering about the next ultimate component (indeed buying a 552 when you sell your house is already mentioned). This is HiFi as an obsession, something based on the acquisition of
things rather than to facilitate a love of music. You are not alone in that (and if we are honest we may all be able to identify some of that tendency in each of us) but it is worth reflecting.
Secondly, whatever you do, think carefully about having kids. Not just about wether you can afford them but wether you and your relationship are ready for them. Biggest decision you will ever make, and you don't get no strings attached home demo first either.
Bruce
Posted on: 29 August 2008 by 555
quote:
Originally posted by ewemon:
quote:
Originally posted by hi fi fo fum:
Jon there is another way, us the card to make smaller buys....and pay it off really fast,,,each month they will give you more credit so in 5 months you might find you have a 10 grand limit then you can really go to town.
Typical advice from a trader.
Bet you wish he was popping into yours for an audition.
There are many good reasons they're called 'dealers' ewemon!
Posted on: 29 August 2008 by domfjbrown
quote:
Originally posted by TomK:
I've been there, done that and I assure you it ends in tears.
Think very, very carefully before you take on such a debt, especially in the current economic climate.
Seconded! I'm still paying off debts which initiated with a £2k credit card (and my Student Loans) in 1997. Got another FOUR YEARS at a crippling repayment rate.
DO NOT go there. Music's important, but you want to eat! ...and buy new music
When you get to that panacea of hifi reproduction, it WILL NOT last and you'll want to upgrade again - and have no money to do it. For a VERY long time!
As for kids - if you want them, fair play, but there's more than enough of them around already for me to consider having one! Mind you, never say never and all that...
Posted on: 29 August 2008 by hi fi fo fum
Hey if "GOD" did not want him to buy HI-Fi he would not of received the card..... the Audio "GOD" is telling you to rack it up... make you way down to your dealer.
Just tell your partner you found the boxes of Naim sitting in an alley.
Posted on: 29 August 2008 by tonym
I'm a bit torn here. I agree it's not sensible to get lumbered with a big credit card loan, but then again are any of us really sensible 100% of the time?
In my earlier days I loved fast cars and used to take out crippling loans to fund my obsession. All a great risk but I was fortunate and managed to get away with it. Age brought a more sensible approach, but then due to good fortune (and a fair bit of risk as well) in my working life I can afford the things I want.
A couple of months ago my best mate died of lung cancer. He was a very sensible chap,(apart from having a smoking habit) and very successful. Although he enjoyed music, he refused to spend money on a decent system. Similarly, he loved movies but wouldn't invest in a halfway decent TV set to enjoy them on. Being his executor I'm staggered by the size of his estate. Would spending money on things he enjoyed when he was still here have brought him extra happiness? I don't really know. But I'm now more inclined to say, sod it, if there's something I genuinely want I'll get it because who knows what tomorrow will bring? I suspect that now I,too, would be prepared to go into debt to pay for something I really wanted.
Anyway Jon, at least talk the girlfriend out of children; convince her to get a dog or cat - they don't keep asking for money, they're much cheaper to feed, and if they get pregnant you can sell their children for more Hi-Fi money.
