Spending 10% of earning for Audio Hardware, is it sensible?

Come to think about it 10% per year seems very reasonable under most conditions at relatively average salaries. That should cover upgrades and replacement of faulty components even for a very decent system. It might not make sense if you’re pullin in much above 250k a year or or more though.

 

Tithing for audio! I approve.

 

That’s not what I thought, I was questioning the other guy.

 

At 10%/yr assuming someone makes 100k/yr that is 200k over 20 years.
That's a mortgage
If you have a 20k system that is 1%/yr

the 10% is after tax, so more like 15% of take home. That seems like a lot?

reasonable is in the eye of the beholder lol

 

I think that I reached a spend of that percentage of my net pay in one year only. I probably had no woman in my life at the time to sway my attention away from audio.

As one dealer told me a story (well they would) of a retired chap who had a £50k car sat in the driveway that he hardly ever drove. His reasoning was to spend that money on something he was actually passionate about and would use. Makes sense to me!

 

if it makes you happy and you can afford it...makes perfect sense!

 

I gave up my $150 a week smoking addiction and drinking habit a decade ago and have spent that towards equipment and music.

 

I guess the part that seems hard to grasp for me is the consistency, much of my audio buying has been in fits and starts very little year to year commonality. Also for a large part of my audio life having bought sold and traded used gear the dollars were at least somewhat reasonable. Perhaps early in my buying days 1999-2000 I may have approached 10% of a years income but as my income has risen that's not nearly the case. As @Mcginty2020 says I also kicked other wallet draining destructive habits some years ago freeing up more cash for audio and other pursuits.

 

And live longer to enjoy it
Good on you

 

Spending 10% is silly. 20% is the sweet spot.

 

True, chasing the likeable sound for my taste led me such spending.

 

great

 

No way to answer that question, it is your money, spend how what you want to spend it.
Ive spent a lot of money on The Basement Tapes over the years.
My favorite being the 2 volume Blind Boy Grunt set on lp

 

Another common vice is spending hundreds monthly on lottery/scratch tickets, and that alone is worth at least one good component or a lot of music purchases every year.

 

You don't gain anything if you have to turn around and buy another house. What you gained on yours you lose to the next purchase. Only ones making out would be those going from house to an apartment.

 

Not as much as everyone thinks. Most people
Live way beyond their needs.

 

True, but we are here answering this question for the OP.

 

Perhaps with your current knowledge, you think a lot of your past purchases were unnecessary and you feel they were a waste and not sensible.
Maybe you're right about some of the purchases, but you shouldn't feel bad at all. You just need to compare, LOL!
Lots of people waste huge amounts of money on even less sensible things (e.g., overeating, unhealthy food, hard drugs, expensive cars/phones that are junk now, lawyers, buying stocks at peak, bad investments, etc.). I remember reading years ago about a kid in China who sold one kidney for an Iphone6!

 

Hope, future the purchases are sensible

 

Missed the point completely.

 

I will never forget the time I was auditioning my first serious hifi amp. I was still on a modest wage at the time and with a budget of only £250 had listened to all the front runners at that price point. My dealer asked if I wanted to hear the Naim Nait 2 which was £338 at the time not including the A5 cables. As it started playing my test tracks I started to smile.

My dealer said; “yes it’s fun going into debt isn’t it?”.

The point being; it doesn’t matter how good value something looks. If it doesn’t do what you want or make you feel good the price is irrelevant.

 

Appreciate your thoughts

 

I guess, now that you have spoken, the discussion is complete and no further comments are needed, or allowed.

Still, if one earns $45,000 per year and spends $4,500 of it on audio gear, and another earns $400,000 per year and spends $40,000 on audio gear, don't you think one may have quite a different result than the other?
Maybe, just maybe, it does depend on some things....Unless of course you say, with conviction, it does not.

 

There are many people who dedicate 10% of their earnings to certain things.
What you choose is up to you.

 

There is an old saying in the car hobby - never add up the bills. Same goes here.