How much should you spend?

[MarkBarbieri]

This is question that we all think about when it comes to buying photography equipment. How do you approach it? Do you start with a set budget and then try to find the best set of gear for that budget? Where does that budget come from? When is it OK to buy camera gear on credit and when isn't it? How do you decide whether a Brand x entry level camera is a better deal for you than a Brand x medium level camera?


We keep our household budgeting fairly simple. We periodically check to see much we need to be saving for retirement, college for the kids, emergency funds, general savings, and major purchases like cars. From our after tax income, we set aside that savings money first every month. What's left, we spend however we want. We don't really set aside "x" for camera gear, work off of a budget, or anything like that. We earn money, save what we need to save, spend money on necessities and the spend the rest on whatever luxuries we want. When there is an expensive luxury that we want (like new camera gear), we either save money for it or use money that we saved already in anticipation that we'd eventually find something good to spend it on.

When we do buy stuff, the basic thought process is "will the benefits to owning this be worth the cost?" For example, when I bought my last DSLR, it was several times more expensive than the DSLR that I already had and as compared to some others on the market. It certainly wasn't several times better, but that wasn't the relevant concern. I'm pretty sure that most of my pictures would have been just as good (or close enough) with my old camera. The new camera would give me 20% more pictures that I was currently getting because it had a faster AF, a higher fps rate, and a bigger buffer. It would also get me more and better shots in tough conditions like low light. So the question I asked myself was not whether it was x times better than the model beneath it, but would the additional pictures I got be worth the additional dollars I would spend.

 

[mabas9395]

It depends on the combined value you place on:
A) taking pictures
B) having pictures to look at
C) the quality of your pictures.

Personally,
A) I really, really enjoy taking pictures
B) I am a family history buff so family pictures are hugely important
C) While any picture is better than no picture of an important family moment, I get some personal satisfaction out of taking a "quality" photo.

Based on that, photography equipment is a justifiable expense in our house. I don't usually "save up" for a camera purchase (though I do have a big coin jar on my dresser that says "lens fund"). Most of my equipment has been acquired through year end bonuses from work.

I sort of let it slip that the Canon 40D has a $200 rebate starting next week and that I would only need half of our stimulus check for it. The wife said OK, but the industry I'm in is having some tough times, so I'm thinking it might be a better idea to beef up our savings, just in case.

And we've never purchased camera gear on credit. Once we finally got ourselves out of CC debt, we promised to never do that again.

But normally, you should spend as much as you can without getting caught!

 

[alan]

For me, photography is basically a hobby. So I look around at other guys doing their hobbies.

I know plenty of guys who pay over £2000 to buy a season ticket to watch a bunch of overpaid guys running around a field kicking a football. Aye, they're welcome to that.

I know guys who pay a fortune to buy and run a tiny little sports car, that is essentially useless when it comes to carrying stuff from one place to another. Doesn't appeal to me.

I know guys who fly aeroplanes. Yeah, well. That one does appeal, I've got to admit it.

I know women who spend fortunes on clothes, or on horses. Or both.

And so forth.

So when I put all this together, spending £1000 a year on photography seems to be much cheaper than other guys' hobbies. But I still agonise over buying stuff (I don't think my wife realises how much thought goes into it before I present the idea to her).

Actually, in many ways the time factor is more important than the money. My "first" hobby is doing stage musical shows, and that requires a serious time commitment. Once I get too old for that, maybe then I'll focus serously on photography!

regards,
/alan

 

[Master Mason]

I never buy camera gear on credit. If I can't afford to pay for it, then I don't need it at that point in time.

The way I do it, is I decide what I need, inorder to take the pictures I want, find out what it costs, and then save the money that I need for it.