Buying HiFi at credit, anyone?

"I just wanted to see if some folks who buy ....."

Why wouldn't they? If they have the cash there should be no difference, an intelligent manager of personal finances would always pay cash.

If they don't have the cash and chose to finance either cars and/or audios, its still a matter of personal discretion and their individual value systems.

IMHO your question elicited exactly the range of responses you got. It is, first, last, and always, about management of personal finances and establishing priorities in purchases of anything you and your family require.

And, you are right, "....it is VERY personal and discretionary".

For all those who quickly bash people who use credit cards:

how did you pay for your home? how did you pay for your car? what about student loans?

If you have ever taken a loan out for anything, then you cannot simply state that using credit is stupid or outright wrong.

I am not disagreeing that consumer credit card debt has to be managed carefully. There is no one right financial plan. Everyone has different needs and risks. Given today's low interest rates, it may make sense to take carry a little debt in order to keep money in your pocket. The interest could be worth it to some people. Some people dont mind paying more over the long term in order to get what they want now. This is not wrong.

an intelligent manager of personal finances would always pay cash

Remind me which business school you went to or who's managing your finances? paying cash is one of the most certain way to building no asset and eventually going broke. An intelligent manager of personal finance uses credit and investments with finesse(such as taking a mortgage and contributing into retirement savings). The "cash" reflex is a great way to build a nation with trillions of dollars of debt.

beheme: well put. i did not want to sound too financial in my response but you stated my sentiments very well. The bottom line, there is no right or wrong way to manage finances. It is an art form that must balance a variety of things including risk, interest rates, personal goals, etc.

Tbooe, exactly, which is why I would have expected that some folks would come forth and, like me, admit that some audio purchases have been made with a little too much optimism about future revenues!!! never enough to put me in trouble but a few thousands bucks, certainly. I do not regret a penny of it and am currently audio-debt-free (not for long!).

The other part of the thread that kind of went unnoticed is the total cost of buying what one can afford instead of what one wants...and trade up and up and every time lose some money..it ends up being a disguised interest rate that far exceed some going rate on line of credits. A hidden cost of being "reasonable".