When it comes down to it, I decide if it’s better to use somebody else’s money or mine. If mine is doing well and I can get a better interest rate than my return on investments, I will finance if the numbers work the way I want them to, that applies to much more than my tank.
Have you ever financed anything in aquarium keeping
- Thread starter William Chiavetta
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kingranch2003
Well-Known Member
Four more payments and my euphyllia garden can't be repossessed!!
smacrophylia
Community Member
+1I charge all my expenses for everything. Then pay it off every month before the due date. The cc company pays me.
I just used cc points to purchase 2 a360xe tunas 2 gooseneck mounts plus full angle adapters and a WiFi dongle $0 out of pocket.
cryptodendrum
Community Member
This poll made my head hurt.
Back in the 80's I got into a little issue with CC debt while as a university student; I got it all paid up & sorted but it was a PITA lesson. And literally, my first job out of uni was working for the credit card industry as a software coder for the new wave of CC Electronic Funds Transfer terminals that started rolling out at the end of the 80's & early 90's across the USA. Working "in the belly of the beast" and seeing how predatory the CC industry was, pushed me even further away from using CC's and short term loans. (FWIW, it was 1991 also when I got into the Reefing hobby).
And then, just a few years later, I ended up relocating from Texas to the Netherlands in the early 1990's where in the very Calvinist Dutch society, credit cards were literally considered a cultural pariah. Through those experiences and life lessons, I can not imagine financing anything about this hobby.
Part of the fun for me with this hobby was always building things myself as much as possible & trying to figure out how to solve technical and operational problems without spending much money. In fact, lots of people who come to visit and see my tanks often speculate I just throw money at it, but that's really not the case at all; being super thrifty is how I have ended up with a big and complex system.
Back in the 80's I got into a little issue with CC debt while as a university student; I got it all paid up & sorted but it was a PITA lesson. And literally, my first job out of uni was working for the credit card industry as a software coder for the new wave of CC Electronic Funds Transfer terminals that started rolling out at the end of the 80's & early 90's across the USA. Working "in the belly of the beast" and seeing how predatory the CC industry was, pushed me even further away from using CC's and short term loans. (FWIW, it was 1991 also when I got into the Reefing hobby).
And then, just a few years later, I ended up relocating from Texas to the Netherlands in the early 1990's where in the very Calvinist Dutch society, credit cards were literally considered a cultural pariah. Through those experiences and life lessons, I can not imagine financing anything about this hobby.
Part of the fun for me with this hobby was always building things myself as much as possible & trying to figure out how to solve technical and operational problems without spending much money. In fact, lots of people who come to visit and see my tanks often speculate I just throw money at it, but that's really not the case at all; being super thrifty is how I have ended up with a big and complex system.
OP
OP
William Chiavetta
Well-Known Member
Wow this really is something else! I'm glad you found a solution to what you're against
CallmePablo
Community Member
the problem is people want to set up a tank and they want the tank stock up in a few days, this is a hobby, is not like you need this to live, you can buy everything little by little, without hurting your savings and without financing, just be patient.
Absolutely agree. We live in a world of instant gratification.
If people don't have the patience to save their money up in a hobby that requires patience, they are doomed to fail before they ever get things set up.
DylanE
Active Member
I never have, but I'm considering it for my 200 gal upgrade this next year simply because Affirm is offering 0% APR for 12 months on it. Could I buy it outright? Absolutely. But if I can pay 0 APR and put that cost into my brokerage account and make money on it, why would I?
Yes, we can add details to justify financing. And in your scenario, I would too.
To be honest, I'd say it depends. If it were for a whole new Red Sea system, I wouldn't rule out financing. Why not work with the bank's money instead of my own?
But would I finance new lighting by itself? No.
Same as mentioned above. I buy everything with CC but pay the balance in full every month, so one could say I earn some "interest" from the bank. I get a card that gives me points or Cashback too so it's a win win. It does require discipline to not spend more and be able to pay it whole. Given security risk and fraud I will never buy anything on debit.
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