Financial Question...

Nick Jushchyshyn · April 8th, 2004, 05:07 PM

Thanks for the nice thought Ken, but ... well ...nah, I was just talking about renting vs owning as a way of not getting into debt. :-) (You're correct though, in that the one asset that matters more than anything (to me anyway) is the skills that you develop and apply to your work.)

Renting works for me (but I don't do "big" shoots that often) and, after going through years and years of stress digging out of a credit-card hole, I just get a twitchy when I hear people saying the same kind of things I was thinking when I first used a card for an investment purchase.

My own situation is totally different though, and may not be applicable. If you really shoot all the time... 1) I'm jealous. 2) It certainly would be more rewarding for you to be using the best possible camera.

The operating word, though is "possible" and how you define it, and what risks you are willing to take to extend it. These are uncertain times, and all I really recommend is that you evaluate the importance of THIS camera right NOW vs. having that credit available in a time of need (or maybe some other opportunity!)at some unexpected time in the near or distant future.

On the bright side....
For me, working towards saving up for gear has resulted unexpected benifits too. Without combustion, I've resorted to writing my own plugins to add color difference keying and de-spill operations to my NLE. Now I understand these processes much better than if I just had a tool that erased them magically corrected by some automated tool. Now when challenging shots come my way, I'm better prepared to handle them.

It's all what you make of your situation. Sometimes not having the best gear in the world challenges you to grow, be more original and become better at your core craft.

Best of luck with your decision and work!
Have fun!

Nick Jushchyshyn · April 8th, 2004, 05:10 PM

trv950's seem to be selling in the $1500-$1800 range.
The other gear just goes with it to make your auction more attractive that all the others.

Have fun.

Dustin Waits · April 8th, 2004, 05:19 PM

<<<-- Originally posted by Nick Jushchyshyn : trv950's seem to be selling in the $1500-$1800 range.
The other gear just goes with it to make your auction more attractive that all the others.

Have fun. -->>>

I did a little researching and found out that all me gear together is $2020 new. How much do you think I could get out of it used?

Dustin Waits · April 8th, 2004, 09:57 PM

<<<-- Originally posted by Nick Jushchyshyn : trv950's seem to be selling in the $1500-$1800 range.
The other gear just goes with it to make your auction more attractive that all the others.

Have fun. -->>>

Oh okay ignore that last post. I misread what you said.

John Britt · April 9th, 2004, 01:12 PM

I put my DVC80 on a credit card, but I knew that I could pay it off -- both from the commercial work using the camera and from my day job.

I see nothing wrong with purchasing your camera on a credit card, if -- in the *worst case scenario* -- you know you can pay it off in a timely manner. In my situation, "worst case" meant "if I never get another ad job again and have to pay it off via my day job" -- which would have been easily done had that happened. The question is, can you say the same?

PS -- I say "Don't sell your other camera if you don't have to!" Having two (or more) cameras is a great thing and one day you'll wish you still had that TRV... (of course, this comes from a guy who owns an old 486 PC and 4 TRS Color Computers!)

Dean Sensui · April 9th, 2004, 01:56 PM

Dustin...

I'd agree with John about the strategy behind putting the camera on a credit card. Knowing that you will have an income stream to cover the payments in due time is essential to avoid piling up interest costs. While the equipment is tax deductible, consumer interest fees aren't.

When I got a Betacam deck it was based on the income history of the previous two years. There was enough coming in on a regular basis to pay for the deck over several months, plus it was at zero interest.

My current system (cameras, lighting and editing setup) was also acquired gradually starting from 1997. In the beginning some of it was paid for with funds from my day job. But as time went on equipment I acquired was completely covered by freelance income.

I would also agree with the recommendation of keeping the older camera. Should something happen to your new camera you'll have a backup available. If your area has rentals available then that may not be a serious issue.

Dean Sensui
Base Two Productions.

Rob Belics · April 9th, 2004, 05:27 PM

The rule of thumb is if you use the equipment regularly, buy. Otherwise, rent.

Since you said you use it weekly, renting is out of the question.

Josh Brusin · April 9th, 2004, 08:06 PM

buy EVERYTHING used. Cash money! Save receipts, expense over 5 years, resell asap. Plan projects well and be ready to buy needed things as soon as cash comes in. Just don't overextend. Also charge enough, or include enough added value to afford necessities.

April 8th, 2004, 05:07 PM	#16
Nick Jushchyshyn Major Player Join Date: Feb 2004 Location: Philadelphia, PA, USA Posts: 548	Thanks for the nice thought Ken, but ... well ...nah, I was just talking about renting vs owning as a way of not getting into debt. :-) (You're correct though, in that the one asset that matters more than anything (to me anyway) is the skills that you develop and apply to your work.) Renting works for me (but I don't do "big" shoots that often) and, after going through years and years of stress digging out of a credit-card hole, I just get a twitchy when I hear people saying the same kind of things I was thinking when I first used a card for an investment purchase. My own situation is totally different though, and may not be applicable. If you really shoot all the time... 1) I'm jealous. 2) It certainly would be more rewarding for you to be using the best possible camera. The operating word, though is "possible" and how you define it, and what risks you are willing to take to extend it. These are uncertain times, and all I really recommend is that you evaluate the importance of THIS camera right NOW vs. having that credit available in a time of need (or maybe some other opportunity!)at some unexpected time in the near or distant future. On the bright side.... For me, working towards saving up for gear has resulted unexpected benifits too. Without combustion, I've resorted to writing my own plugins to add color difference keying and de-spill operations to my NLE. Now I understand these processes much better than if I just had a tool that erased them magically corrected by some automated tool. Now when challenging shots come my way, I'm better prepared to handle them. It's all what you make of your situation. Sometimes not having the best gear in the world challenges you to grow, be more original and become better at your core craft. Best of luck with your decision and work! Have fun!

April 8th, 2004, 05:10 PM	#17
Nick Jushchyshyn Major Player Join Date: Feb 2004 Location: Philadelphia, PA, USA Posts: 548	trv950's seem to be selling in the $1500-$1800 range. The other gear just goes with it to make your auction more attractive that all the others. Have fun.

April 8th, 2004, 05:19 PM	#18
Dustin Waits Major Player Join Date: Dec 2003 Location: Ft. Myers Beach, Fl Posts: 243	<<<-- Originally posted by Nick Jushchyshyn : trv950's seem to be selling in the $1500-$1800 range. The other gear just goes with it to make your auction more attractive that all the others. Have fun. -->>> I did a little researching and found out that all me gear together is $2020 new. How much do you think I could get out of it used?

April 8th, 2004, 09:57 PM	#19
Dustin Waits Major Player Join Date: Dec 2003 Location: Ft. Myers Beach, Fl Posts: 243	<<<-- Originally posted by Nick Jushchyshyn : trv950's seem to be selling in the $1500-$1800 range. The other gear just goes with it to make your auction more attractive that all the others. Have fun. -->>> Oh okay ignore that last post. I misread what you said.

April 9th, 2004, 01:12 PM	#20
John Britt Major Player Join Date: Sep 2003 Location: Atlanta, GA Posts: 621	I put my DVC80 on a credit card, but I knew that I could pay it off -- both from the commercial work using the camera and from my day job. I see nothing wrong with purchasing your camera on a credit card, if -- in the worst case scenario -- you know you can pay it off in a timely manner. In my situation, "worst case" meant "if I never get another ad job again and have to pay it off via my day job" -- which would have been easily done had that happened. The question is, can you say the same? PS -- I say "Don't sell your other camera if you don't have to!" Having two (or more) cameras is a great thing and one day you'll wish you still had that TRV... (of course, this comes from a guy who owns an old 486 PC and 4 TRS Color Computers!)

April 9th, 2004, 01:56 PM	#21
Dean Sensui Inner Circle Join Date: Oct 2001 Location: Honolulu, HI Posts: 2,054	Dustin... I'd agree with John about the strategy behind putting the camera on a credit card. Knowing that you will have an income stream to cover the payments in due time is essential to avoid piling up interest costs. While the equipment is tax deductible, consumer interest fees aren't. When I got a Betacam deck it was based on the income history of the previous two years. There was enough coming in on a regular basis to pay for the deck over several months, plus it was at zero interest. My current system (cameras, lighting and editing setup) was also acquired gradually starting from 1997. In the beginning some of it was paid for with funds from my day job. But as time went on equipment I acquired was completely covered by freelance income. I would also agree with the recommendation of keeping the older camera. Should something happen to your new camera you'll have a backup available. If your area has rentals available then that may not be a serious issue. Dean Sensui Base Two Productions.

April 9th, 2004, 05:27 PM	#22
Rob Belics Major Player Join Date: Apr 2003 Location: St. Louis, MO Posts: 581	The rule of thumb is if you use the equipment regularly, buy. Otherwise, rent. Since you said you use it weekly, renting is out of the question.

April 9th, 2004, 08:06 PM	#23
Josh Brusin Major Player Join Date: Nov 2003 Location: Chicago, IL Posts: 439	buy EVERYTHING used. Cash money! Save receipts, expense over 5 years, resell asap. Plan projects well and be ready to buy needed things as soon as cash comes in. Just don't overextend. Also charge enough, or include enough added value to afford necessities.