Is it worth it

[auburnguy 0]

Is it worth it to go into credit card debt to get my own gear? Anyone else have experience here?

"If you don't like your job, you don't strike! You just go in every day, and do it really half assed. That's the American way."
- Homer Simpson

[SarahC07 0]

The answer is always no.

[The_Don 0]

Nope!

Talk to your Riggers & find some GOOD used gear.

Skydivers ALWAYS want the hot new stuff.

I am NOT being loud.
I'm being enthusiastic!

[happythoughts 0]

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Nope!

Talk to your Riggers & find some GOOD used gear.

Skydivers ALWAYS want the hot new stuff.

This is the best idea, definitely.

If people put gear on credit cards, then they save a certain amount on gear rental. However, that money is not put towards paying off the credit card, it is used for more jumps.

...and then more jumps on the credit card and the hole becomes too deep.

[CSpenceFLY 1]

I bought my first rig used and went to the bank and borrowed the money. I think I financed it for two years and it cost me about $100 a month. It was cheaper to make payments on the rig then rent gear.

[airtwardo 7]

Is it worth it to go into credit card debt to get my own gear?

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Sure...as long as it's not YOUR credit card!

~ If you choke a Smurf, what color does it turn? ~

[cocheese 0]

Do what is right for you.

[Lindsey 0]

NO!

--
A conservative is just a liberal who's been mugged. A liberal is just a conservative who's been to jail

[iluvtofly 0]

Take it from someone who will be paying off credit card debt for years to come...HELL NO!!!!!!!!!!!!!!!!!!

[aardvarkeater 0]

I did it. I used one of the 0% interest for a year checks that my card company sent out to purchase my gear. I had nothing on the card when I purchased it and I paid the rig off 9 months after I purchased it. I didn't put anything else on the card either. I would say that if you do plan on using your credit card, make damm sure that you can pay it off and know ALL the caveats that come with using your card. The credit companies are out to screw you and make money off late fees, and interest charges. I think I got lucky with how my situation turned out. I'd look at loans from the bank first to see what the interest rates and terms are. You'll probably get a better deal from them. Look into the future and figure out how much you plan to jump for the next year at least. Figure out the cost of renting vs buying gear and paying interest on the loan. Saving for 6 months to a year while renting may be a better option. It's not something to take lightly. Buy used. You'll save thousands.

Muff Brother #4026
Loco Zapatos Rodriguez
SCR #14793

[Iceburner 0]

No,
if you do get into debt and can't end up paying it off, you will ruin your credit. if you ruin your credit, new gear is the least of your worries.

i got a 2nd job and that paid for my new gear when i got it...not skydiving fortunatly pays for a lot of skydiving expenses. however, i've spent much more than i've made

[Shell666 0]

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Is it worth it to go into credit card debt to get my own gear? Anyone else have experience here?

My first year, I packed student rigs at the DZ for a summer and ordered new gear at the end of the summer.

'Shell

[popsjumper 2]

If you're buying that Falcon or that Stilletto, then NO!
You bozo..who in the hell ever gave you that idea? Oh, nevermind...you read about it on the internet.


We need to sit down and have a talk.

My reality and yours are quite different.
I think we're all Bozos on this bus.
Falcon5232, SCS8170, SCSA353, POPS9398, DS239

[chinagirl 0]

Are you still at it? If you're a responsible individual, then go ahead and put it on the card (find one with a good interest rate). If you're anything like me....stay the hell away from those plastics (unless it's not yours)!

~Built for Abuse
www.skydivethefarm.com

[JohnRich 4]

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The answer is always no.

Incorrect.

The answer is: Only if you can afford to make the payments.

If someone is making $100k per year, then charging a rig on a credit card is no problem. If he's only making $20k, then that's probably a problem. But even then, it might depend upon his life circumstances. For example, is he living at home and not paying rent?

[nerdgirl 0]

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Is it worth it to go into credit card debt to get my own gear? Anyone else have experience here?

One alternative option (to credit card debt) is to investigate a student loan.

Advantages:
-- *Much* lower interest rates,
-- Deferments until at least 6 months after you leave school/graduate. (Can be deferred longer term if you post-doc or get some fellowships.)
-- If you’re savvy, you can ‘consolidate’ at a *very* low interest rate & take advantage of incentives like electronic deductions to pay, say ~2%. Even an ING savings account will provide a higher rate of interest (>4% …until yesterday ); much better rates can be got through other investment choices.

In order to benefit financially, you’ve got to be willing to manage actively your money/investments and post-graduate school choices/expenses wisely. The instant gratification value and other considerations of new gear are a different mental calculus.

VR/Marg

Act as if everything you do matters, while laughing at yourself for thinking anything you do matters.
Tibetan Buddhist saying