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Do you think home cinema is a rich mans hobby?

Discussion in 'General Chat' started by tony kop77, Oct 9, 2005.

  1. tony kop77

    tony kop77
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    I am 30 live at home and done have any debts but I spend all my money, more I earn more I spend.
    I have spent a fair bit on my home cinema set and consoles and games going out etc. My mum who is 70 says I should save because she wont be around forever etc and thinks me wanting to buy a Panasonic 500 for £1700 is waste of money.

    I have seen people's set up on through the pic gallery and some look like they have spent a fortune. Do you think home cinema is a rich mans hobby and do people save money because way my parents carry on at times it seems I am the only one spending all his money while others save. I have 15k worth of shares but I got money from a car crash when I was young and left it in shares I did not actually save myself and my parents just go on about how I have worked for 15 years and not saved any money.
    I have been season ticket at Liverpool though a while back and went to away games, got home cinema etc so I did spend money on what I enjoyed.
     
  2. zAndy1

    zAndy1
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    It's easy to get carried away with home cinema and keep upgrading for the sake of it, if I'd not sold stuff needlessly I'd have a Panny plasma and a projector and not been in the mess I'm in now. Tomorrow I find out if I lose my car and the plasma and maybe even our home, that's what it's come to. All I can say is buy what you can afford, save up for it and don't buy it on credit and don't upgrade for the sake of it. There are far more important things in life than home cinema, if only I'd realised that earlier! It's not so much a rich mans hobby these days as prices have fallen so much that you can have a nice flat 42" display and a good surround amp and speakers for < £3K which is amazing really. Of course the temptation is always there to spend more but it does reach a point of diminishing return like most things, it's a case of being sensible about it.
     
  3. tony kop77

    tony kop77
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    I dont just spend it on home cinema I spend it going out and going for meals et but lately been spending £100 and saving the rest and have been able to pay my credit card off.
    The Panasonic 500 I can have it and pay £40 a week for one year and it is 0% intrest so within a year it's all paid for and no intest seems good. I want a denon dvd player high definition I have seen one for about £200 then once I have bought those 2 items it should be it as far as home cinema is concerned.

    I am going to buy the 360 and about 5 games on launch day but I have bene working loads of overtime. I can pay for the panasonic in cash but prefer the £40 a week option, I just wanted to check if others save their money because as I said my parents make me feel I am the only person who is not saving. I dont pay bord either but italians never charge their sons or daughters bord for some reason.
     
  4. Jenn

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    Have you got a private pension, have you got any money saved for a deposit on a house, are you planning for the future ?

    At 30 you are by no means old but you should start thinking about your old days. One reason to start as early as possible is that a job isn't always forever and you never know what happens tomorrow, you could end up earning barely enough to survive for a while and you might kick yourself for not saving for these situations.

    Parents always worry about their kids because they know what surprises life has for you and although sometimes it's annoying, they only want to help.
     
  5. tony kop77

    tony kop77
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    I have shares I can cash in they are worth 15k but would have to pay tax and commision I imagine.
    I am not in any pensions at the moment which ones do you recomend?
     
  6. Steven

    Steven
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    Nonsense. Home cinema is where it is at

    Rich man's hobbies include buying football clubs, buying public organisations and buying politicians
     
  7. Mr Cat

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    its not really a rich persons hobby - as you can spend as much as you want...my kits worth about 5k, but i only paid 1/2 that, and that been over a period of a few years...
     
  8. Steve N

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    Get professional advice.
    As to your spending - We live, we die. What we do in between is a personal choice.
    An old saying goes "thrifty 'til fifty, spend 'til the end"
    I was always cautious with money, never used credit etc. Then decided that I wanted a better balance, why struggle until retirement then possibly die suddenly.
    Now I (we) save a bit, but also spend on pleasures as well.

    Home cinema is very seductive and made up of many facets. So it's easy to start small and then upgrade piece by piece until you do a tot up and realise just how much you have spent.
    On the other hand, so what, if it gives you pleasure.
     
  9. chedmaster

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    No. I'm 17 and in full time education, certainly not a rich man, and I'd say I have a pretty worthy home cinema, and I don't regret any of the money I spent on it. :)
     
  10. shodan

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    I've always worked (and until this job I got into 2 and a half years ago) and it was nearly all for low wages but I managed to buy nice things. My thinking was that I live for the present and although I don't have any regrets, I'm going to be 29 in 6 months and I'm really struggling to find a place to buy. On the flip side, I first moved out and lived on my own when I was 18 then moved back home and moved out when I was 23 then when I was 25 I had to move back for about 8 months but I've been living on my own and now with my missus and am looking to buy a house but it would be SO much easier if I had saved and didn't have the debt's I have now.
    In a year and a half I will not have any more debt's (except a mortgage hopefully) and I'm really looking forwrd to that time but I wish I didn't have to wait until I'm 30 years old for it!!!

    Motto of the story.. Always save a wee bit but make sure you have fun with your money too. And NEVER NEVER NEVER get an overdraft as I found it the most crippling debt imaginable!!! (And if you are no good with money, make sure your partner is!).
     
  11. mjn

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    Left home when i was 18, so haven't lived at home for more than 10 years, and i earn more than my parents. But i think its down to how you spend your money.

    I don't smoke, and hardly drink, and not that bothered about fashion.....so i save loads of money there. But people think i'm crazy for spending £xyz on a remote or £xyz on a DVD player. I think its down to your priorities in life, but you should save for the future, especially as the cost of living is ever increasing.

    As for AV being an expensive hobby? I think all hobbies are expensive!!
     
  12. LicensedTaximan

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    Everyone has different ways at looking at things, and every one has different priorities and circumstances and i'm not here to advise what people should do with their money but when you're relatively young everything seems far into the future but very quickly time soon jumps upon you and before you know it your 40, 50, 60 etc ect. Whilst I feel that there is more to life than just paying the bills and that one should have some fun with your money (in this instance home cinema) priorities need, in my opinion, to be put into there correct order. :rolleyes:

    Since Denon brought out their AVC A1 i've been trying to save up for a replacement av amp to replace my hi-fi amp and pro-logic proccesor
    (yup that long ago) and every time I started to save something would crop up. Once it was our fridge that packed up then we needed new carpet, then the washing machine needed to be replaced plus the cab has to be looked after, an annual overhaul which normally comes to over a grand plus servicing and items that need replacing ect ect.....I could go on and on you probably think I already have. :boring:

    But as much as I was hankering after this (mythical) amp I have a family to support, a mortgage to pay and I took out a personal pension plan (this was done some time ago) so although my home cinema means a lot to me (boy does my wife knows this) and although my wife works ( a teacher for special needs children) other considerations had to come first. :(

    Well at long last i'm one just under one third of the way in getting my mythical av amp, and providing that Denon doesn't change the model within the next year I will probably get the AVC A11XV..........phew wish me luck. :)
     
  13. shodan

    shodan
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    I'm very thankful for my pension which means I can retire in 26 and a half years at the age of 55 years old! Hoorah! Not that I'm counting or anything... ;-)
     
  14. LicensedTaximan

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    Whilst I won't retire or want to at 55, my situation is nowhere near as heavy as it was some years ago, this is in some part due to the guvnor (wife) working. But people should, imo cover themselves in some way for the future, that's of course if they are able to do so, and yes and I do know on the other thread that I said i'm not here to tell people what to do with their money, but.....

    ....Some live only for the moment, well you only live once its true but who wants to be on the bread line when one is older and after a lifetime of working, or who wants to be too much of a incumbent on family later on in life whether it be financial or heaven forbid due to bad health. Planning earlier on can help to ease burdens for the future. Lets face it the one way you don't want to come into money is to receive a parents estate, you know at some point it's going to happen but who really wants it that way.

    I'm going through this at the moment with my sister, and let me tell you its not fun, your grieving, you have to go through personal effects, its heartbreaking, and one has to put the property on the market in fact its just plain awful. :(

    But with all this what I am saying, well.....do some sort of planning for the future and don't rely on family too much for your future fiscal situation, and if you can go and enjoy yourself and buy that home cinema, you don't have to spend thousands, and one can buy reasonable equipment for not a great deal. Ps sorry I went off subject a little bit....lesson over. :lesson:
     
  15. shahedz

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    i dont think Home cinema is a rich mans hobby, i think htere is such a vast range of equipment to choose from to suit all budgets, no matter how small to how big. like any hooby it depends how deep you want to go into it, a lot of people spend less than £500 on a basic sperates and amp and dvd player and are more than happy, on the other end of the spectrum you have people who constantly suffer from the upgrade bug, and constantly spend money all the time, but it all depends on the individuals taste and budget, but by no means a Rich Man's hobby
     
  16. Razor

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    I think it all depends on how much of a perfectionist you are. :)
     
  17. Tom Tom

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    I think that it is a rich mans hobby I have a Pioneer DV 717 DVD Player, Rotel Amp and Mission speakers. I love them and Love hifi over Stereo systems, but due to the fact I am buy a house at 27 (with my 25 year old G/F) means we are ahead of the game on planning for the future.

    Our parents have helped us but we have to help ourselves so in the future we can indulge in our hobbies (hi-fi, P8ntball and Shoes) but we are being sensible now and know that we cant do it all when we are young.

    We still go out, have a social life and enjoy our time, but we also know that Hifi is not an essential, We have a big TV and its fine for most films and other viewing.

    I am looking for my next house to have a basement or garage to convert into a cinema, but thats along way off.

    So I would agree you can be an ethusiast and enjoy hifi cheap nowadays but to have it as a hobby (the upgrades) then yes its a very rich mans game if you are trying to manage other finance.
     
  18. Ed Selley

    Ed Selley
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    Well its a job in my case. Whilst I'm not immensely wealthy, I have a house, a lovely girlfriend and no debt bar the last of my student loan so I'm happy. Like most hobbies or pastimes, home cinema can be done on a sensible budget but equally its possible to spend a fortune. Cut your coat to fit the cloth.
     
  19. tomson

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    Good advice.

    I used to fritter all my money away each month - then got made redundant. Had no savings, nothing to fall back on. Luckily my girlfriend (now wife) was able to support me while I got back on my feet. And once I did I soon started saving... and saving. Out went the AV buying, the wasting of hundreds on yet another remote control...better amps, more dvds... It just all seemed a bit pointless in the end.

    Now at 32, ably abetted by the wife, I own 2 properties (one in London, one abroad) and have money in the bank in case anything goes wrong. We put a couple of grand away each month but if there's something we want we buy it. We have a fairly stress free existence at the moment and as much as I hate to say it, I'm becoming sensible in my old age. :rolleyes:
     
  20. tim k

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    i'm a 23 year old student working part time, i live in a penthouse with 15 grands worth of AV.

    My parents arent particularly rich, but a interest only mortgage and 0% finances over 5 years past and present and birthday/christmas presents all collected my equipment.

    I would be a hell of a lot better off it is wasnt for my home cinema, but i'd say im more of a gadget man, i love computers/tvs/mixin. but i am the living proof that it is possible to have all on a low income. its just the way you go about it.

    so my answer, rich mans hobby, yes, but if your not and you work hard it can make you look rich!
     
  21. KoThreads

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    I'm not a role model and all I can say is life is life, you only get one shot at it. I've been sensible all my life (i'm 46) i went to college and uni and did quite well. Made some money and saved and took everyones advice and everything was rosy.

    A few years ago I was very ill and spent ten months in hospital and never fully recovered. I've never felt the need to say anything on here about it before as there was no need too. I hate sympathy and lead what life I have left in my own way. You wouldn't know me as any different to any one else on here but believe me I am.

    I now can't drink (because of prescription drugs) don't smoke and now have no partner. I Just thank God I'm not in any pain.

    The reason i'm saying it is simple, your shares, if held long enough, will always be worth something.

    If you want to do something, Home AV kit whatever, and it's not causing harm to anyone else then do it.

    I only now wish I had.
     
  22. dakara

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    Do what you want when you want to.Spend what you want when you want to.
    Always PROVIDED that you do not cause anyone any grief in the process, and do not expect anyone to bail you out if you come unstuck, Particularly your parents, who owe you absolutely nothing. In fact, you owe them, for the years that they cared for you when you were a child :nono:
     
  23. Slimchandi

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    I think if you believe a lot of magazines then HC could be very expensive. But you don't need to buy the most expensive and newest components. Hell, you don't even need all of them.

    I've been on a gradual upgrade path (with a complete binge recently due to getting a summer job away from Uni) and I'm probably about three components away from my ideal system at the moment (bear in mind 3rd year University student). I still need a centre, subwoofer and a new amp. But I know for now my Pio 301, phantom centre mode and bass through my floor standers will do very nicely. I guess it's about knowing when to stop! My most recent extravagence was the Panny 36" CRT s/h for £350, I find the forums are a great place to save money!
     
  24. gizlaroc

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    I don't think the level we are it is a rich mans hobby at all, you have to remember there are loads of guys round the country with £100,000+ home cimemas, they are the rich guys.

    I would say my only concern with this thread is the fact you are still at home at the age of 30! ;)
    I have always lived life and been in debt, I bought our first house at 21 and everyone said I was too young, I have never missed a holiday because I have not had money in the bank and I always buy nice cars even though I guess I should be driving round in an old banger because I don't have £20k sitting in the bank.
    But I looked at it this way, I want to live in a nice house, I want to have nice holidays and I would rather drive round in something I really love getting into, if it means being constantly in debt does it really matter, I have had an excellent life?

    I am now in my early thirties and for the first time since I was 16 I am no longer in debt, well I say not in debt I still owe on my mortgage, and pay for my cars each month, but, because I have pushed myslef financially for the last 15 years I am now in a better position than any of my mates, I know that if I lost my job tomorrow I could sell my properties and buy a house outright for £250,000 and have £100k sitting there from the equity I have built up, that would give me 2 years to get something else up and running.

    Now I have mates that say they are being sensible, they have never got in debt, well maybe £5k here and there, and they are really pleased that they have £20k in savings that they are going to use a deposit on their first house. £20K! If they had just bought 10 years ago with no deposit they would now have £200k in equity!

    All I am saying is this, at 30 years old and still living at home you really should use that £15k to buy somewhere, even if you rent it out, but you need to get your foot on the property ladder, every couple of years change your mortgage over, hopefully the property will have gone up by £20-30k so add £5k to the mortgage and buy some new AV gear! :)

    Problem with most people is they worry about money too much, there are loads of ways to make money if you can be bothered and if you are prepared to take a risk. There are also loads more ways to loose money too! :)
     

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