Saving for Your Guitar Budget

The most expensive guitar is not necessarily the best guitar for you. Your dream guitar should be the best that your budget could afford. However, a guitar that you will be afraid of using for fear of being scratched is not a good guitar, unless you are just a collector and not a guitarist.

Suppose your dream guitar is worth Php 30k, but you only have 10k now. Look for a good, used guitar whose owner is selling at a rush price. If you can get at least 3k discount from the market price then buy it and sell at market price after a few weeks, while using the guitar until you get a buyer. Continue this cycle until you have the cash to buy your dream guitar. You are investing your initial cash and using the profit to add to your capital. Of course, you have to know how to spot a good deal to do this. I will discuss that in a separate topic.

When you see your dream guitar, do not rush into buying it unless you get a good discount. Always assume that you need to sell it later, hence, you must buy below cost in order to have profit when you decide to sell. There will always be an opportunity for a similar guitar, unless you are aiming for a rare model. Even guitar stores have a sale from time to time. Be patient.

/royc