How to save up for equipment?

[table1349]

To put it simply; how do you guys afford all of your equipment?

Lenses, Tripods, Flashes, Bags, Batteries, and Lighting all seem so very expensive. Getting decent glass can be twice as much as your actual camera itself.

Is there anything in particular that you do to save money?

Personally I start a miniature fund for myself, a piggy bank if you will, and basically whenever I have money to spare I add it to my fund. A few dollars here and there and all my loose change can really add up in six months.

Let's pool together some ideas and help everyone out. Because lets face it; we all want better stuff.

Peanut butter and Jelly is a good way to save money. Look at your budget and spending habits. What can you cut down or cut out so as to save money for gear you want. You would be surprised how much you may be able to cut to giving you more money to spend on gear.

 

[jackiex_x]

Good job and no kids

 

[IByte]

Good job and no kids

Little debt

 

[jriepe]

Having a very good paying job is the easiest way to afford expensive equipment which is something I don't have since I'm on my twelfth year of retirement but many people overlook the little things in life that can save them money and really adds up in the long run. Many times it requires changing your habits. When I was working I thought nothing of stopping off at 7-11 to purchase a coffee. If you spend an average of $2.00 per day on coffee that adds up to $60 per month. I make all my coffee at home and one $12 can will last me a month. There's a savings of $48 on coffee alone. Eat at home instead of eating out. Don't always buy brand names when cheaper generic brands will do the same job. I don't need a super strength laundry detergent to clean the clothes that I barely get dirty. If you smoke give it up. Being single I eat quite a few frozen dinners but I never buy them unless they are on sale. I do a lot of my grocery shopping at Aldi's.

Most older people find it easier to live on less because the costly thing they did when they were younger don't interest them anymore. I used to hit the bars three and four nights per week but now I don't touch a drop of alcohol. I don't smoke, rarely eat out, rarely go to sporting events, never go to concerts, etc. But the reason for most of that is because I am sixty seven. No way would I be living the way I do now if I was thirty years younger. So I'm not suggesting that younger people live the way I do because they would be bored to tears but look at the small habits you can change to save money.

I just checked and I do still have a pulse.

Jerry

 

[Josh66]

Good job.

This...

Being single with no kids helps, too.

...And this is how I bought most of my gear.

Now I have a wife and two kids, and haven't gotten very many new toys since, lol.


edit
Another way I have gotten funds for new gear (and I don't recommend it, because it is basically throwing money away) are 401k loans.

 

[IByte]

This...
...And this is how I bought most of my gear.

Now I have a wife and two kids, and haven't gotten very many new toys since, lol.

edit
Another way I have gotten funds for new gear (and I don't recommend it, because it is basically throwing money away) are 401k loans.

But paying yourself back with interest is always a plus. Also you have something and the skill to show for it

 

[Josh66]

This...
...And this is how I bought most of my gear.

Now I have a wife and two kids, and haven't gotten very many new toys since, lol.

edit
Another way I have gotten funds for new gear (and I don't recommend it, because it is basically throwing money away) are 401k loans.

But paying yourself back with interest is always a plus. Also you have something and the skill to show for it

It's still not the best idea. It'll be another 2 or 3 months till my 401k is back up to where it was when I took the last loan out...lol. All that money could have been making more money...

I guess it's still a net gain though, when you factor in the company match. Still, I should have a lot more in there right now.

 

[Balmiesgirl]

My tax return is usually my Upgrade fund

 

[Sw1tchFX]

You pay with cash and you budget your days out. It's really simple, easy, and just requires discipline.

Except for bills and gas, I live on $8 a day. That's what I budget myself, and rarely do I exceed it. Working minimum wage while I was in college, that's how I was able to afford my D700, 24mm f/1.4, 35mm f/1.4, and still have enough money that I was able to quit my job for 6 months without having to stress out about making ends meet.

 

[IByte]

It's still not the best idea. It'll be another 2 or 3 months till my 401k is back up to where it was when I took the last loan out...lol. All that money could have been making more money...

I guess it's still a net gain though, when you factor in the company match. Still, I should have a lot more in there right now.

I know I always figured if you buy something, buy something to show for it, or to advance your skill.

 

[Derrel]

Keep your expenses low. Don't blow money on expensive brand-new chit when the SAME products are available for MUCH less money used. New car at $39,995 or 3-year old same car for HALF of that???? Do you want to be driving a big Mercedes or BMW sedan? look into your dream car, but 6 or 7 years old...it'll cost the same as a brand new Lexus that will be worth only 1/4 of the purchase price in 5 years. Somebody who's much smarter than me (so it could be any one of a billion people) said, "Buy a 3-year old car and drive it for 7 years, or buy a 7 year-old car and drive it for three years...the price works out to be almost exactly the same..."

I mention cars because they are huge money pits, and saving some serious coin on a car is a way to line your pockets with an extra 5,10,or 15 THOUSAND dollars compared to your friends who have nice cars and are broke as Fudd's sake--all the time. A friend of mine asked me, "How can you afford all that fancy camera stuff?" and I said, "So, how much did you spend on your truck?" and he said "thirty-one thousand or so." And I said, "Well, you've seen the car I drive, right?"

 

[Bitter Jeweler]

You folks are making me feel so fortunate.

 

[Infinite_Day]

On the Best Buy v. Amazon front - I don't know why anybody would want to buy a TV over the web without first seeing the picture it can produce.

Like you can't go into Best Buy, look at them, decide, and order it from Amazon?

Good point but I also don't like the shipping hassle. If I buy in-store and it's broken when I get it home I can take it back directly. If it gets damaged in shipping or is broken in the box and I've ordered it I then have to ship it back and wait for the replacement to be shipped to me.

 

[jriepe]

Derrel,

I agree with you about the car. The way cars are made today they will last for 250,000 miles and more. I was talking to a friend a couple weeks ago who said he had recently sold two cars with one having over 270,000 on it and the other one had 284,000. I have a 2006 pilot that I intend to drive for a minimum of five more years and probably even longer.

Money burns a hole in some people's pockets. When they get it they have to spend it. I have a nephew like that. In 2008 when the stock market was sinking like a brick in water I, for the year, lost $42,000. But fortunately it has bounced back and I've gone into safer investments. I could easily take ten to fifteen thousand out of an IRA and buy some darn nice equipment but having the best is not that important to me. I have a D7000 instead of a D700, D800, D3, or D4 even though I could easily afford any of those. I have SB600's instead of SB900's or whatever the latest is. The most I've paid for a lens is $700. For those who want it and can afford it by all means go for it. But I think it's natural for people to lust after things they can't afford. They feel deprived. Maybe if I couldn't afford a D4 I would be lusting after one.

Some people buy the best just to impress. I've never done that nor felt a need to do so. Work on cutting corners in small ways and be sensible in what you spend your money on.

I would say the main reason I don't spend a small fortune on equipment I feel I don't need is because I am retired and will be relying on my nest egg for a small portion of my income for hopefully many more years. I also have a sixteen year old daughter who will be college bound in a couple years. So for those unmarried people who have a very nice income and a very bright future I say buy what you want and enjoy it to the fullest. I don't want any of you to think I'm being critical of you for buying the newest and best. All our situations are different and we have to live our lives accordingly.

Jerry

Edit - Derrel any advice that was given on this reply was for the OP and not you. I wanted to make this clear when I realized it could be taken that way.