Thinking about quitting this hobby.

[Mad Old Lu]

I'll just repeat what everyone is saying: don't be a completist. Although you did clarify that you're not really. Just learn to be much more choosy about what you get. Your displays will still look awesome if you only have 3 Iron Men instead of the whole line. And your displays will definitely look better if there is a tight focus on your collection. All collections look better when there is a narrow focus.

Listen to Irish and only buy what you have money for. Pay off your credit cards and don't carry a balance on them. Finance charges are ridiculous. You could probably afford to buy a figure or two with the money you save from the finance charges!

 

[BB&WSF]

I sincerely hope you come out of the debt instead of this hobby. Its an amazing interest and those 'people' will never understand, leave alone appreciate, what we love.

My dad always and still says, "Do not get out of your pyjamas." Literally meaning, spend only as much as you have or can afford, else don't. But I guess that's an old school thought.

Now, I have seen people who have been living the way they want to. They spend on whatever they like, almost all the time. They say, "If expenses are more, earn more money to take care of it!" "Find multiple ways of earning, instead of just one!" Easier said than done, especially in these tough times.

Anyways, just do whatever you feel is Best to do right now to get out of the hole. You can always earn that kind of money later to buy whatever you lost/might lose now.

 

[axecutioner18]

If you want to sell your Bruce Lee's Im the man

But sincerely having faced a situation like yours and after having parted with some of my own stuff... I hope you come out of it

 

[Avenger]

As some of you may know I've talked about what it would take to quit the hobby. I think I've come to the end of my line and need some freak advice. When I was younger I managed to dig myself into a bit of a hole financially and have been trying to maintain a healthy balance between digging myself out and remaining in the hobby. Let me tell you that is hard as hell... I've limited myself to just Hot Toys comic movie figures. I've kind of splurged with adding Ezio, King Leonidas, and Barney Ross to the mix but that's it. But with everything that's coming out (Capt. America, Mark V VERY SOON, then Mark IV etc) things seem to be getting too hard. I even had to pass on the suit up gantry!

I now need to seriously cut back on figures but I'm not sure I can because I'm a complete-ist (is that how you spell it?). I can't give up any of the Iron Man Marks because I would be bothered by having Mark I, II, III, VI and not V or IV. I want to have the hall of armor. I would feel incomplete if I had CR Superman but no Keaton Batman or Joker. I passed on Spidey and New Goblin but there is still a large list. I figured if I can't have a complete set I may just give up the hobby and sell off what I have... Which is a lot.

In my situation what would you guys do? If I sold off my Enterbay Bruce Lee figures I would probably be able to get myself out of debt. That's assuming the HT DX Bruce Lee release didn't decrease the value of the Enterbay Bruce Lee figures ($600-$900 each). I've tried talking to friends and family but no one can understand the need / love of this hobby. To them they're toys. To us it's artistic appreciation and a lot more.

Please counsel me friends.

I think your priority is to get out of debt. That's a great priority no matter the situation. In your case, you have equity to put towards it in your figures. If you can sell your Bruce Lee figures, which don't seem to match your new strategy, and that gets rid of most or all the debt, that seems the best approach. Selling everything seems harsh if you don't have to and don't want to.

Second, I recommend knowing what you can afford to spend and adjust preorders accordingly. Know if you buy one, you have to cancel another, once you're already at your limit. Or sell other toys that don't quite fit the new strategy to fund those that you just can't live without. But, in all things, do not go back into debt where you'll face this dilemma all over again.

Save up cash to buy with, and don't use credit. Eventually, like me who went through this same thing, you find cash is the only consideration your mind uses when making purchases that are not fundamental to survival. You stop seeing credit as an extension of your available funds, and as a costly means to an ends that is rarely justified. And, the more debt you pay off, the less cash you have on hand that is going towards servicing that debt, which is more cash you can spend on things you enjoy (once bills are paid!).

That's my advice my friend. Good luck, and well done realizing you need to take control of your finances. That's not an easy step, but it is a necessary one that puts you on the road to freedom.

 

[karamazov80]

Trust me, everyone has a price. . .money. . .money...

I knew it! Deak =

 

[Deak Starkiller]

I thought you'd take the bait. You're such a Virgil!

 

[azurepred]

I'd never buy figures if I was in debt. I hate owing money out, if it was me I'd be selling what I had just to get out of the debt fast.

what do you guys consider debt though? I think some of us would perceive it differently.

 

[The Craw]

just keep spending. the economy needs it.

 

[zuckuss77]

Yeah i own 700$ for the p2 elder on my credit card, which is considered debit but not with a solid job its an investment!!!

 

[smartartist]

Rule 1. Don't get into or stay in debt because of this hobby.

This is a luxury. Buy what you can, keep what you can.


Sell if you need to. Break free from the completist mentality.


It's a prison. Eventually you'll have figures you don't really care for but have to keep the collection complete.

That is NO FUN. And you'll eventually run out of space.

Ask yourself, if there was a fire and you could only save 10 figures, which would it be?

I'd go from there.

Thanks, although that advice wasn't directed at me, I needed that. I'm in pretty much the same sitch and needing some new perspective.
Cheers

 

[Mad Old Lu]

what do you guys consider debt though? I think some of us would perceive it differently.

I consider debt any kind of loan, including a student loan or a car loan. A mortgage can be excused because theoretically your home is supposed to be considered an investment--ideally your home will one day be worth more than your loan. But if you owe money to somebody, then you're in debt. You're in deep trouble if you're earning less than it takes to pay off these loans/debts.

 

[teemu]

just keep spending. the economy needs it.

not really...spending is what creates more debt and it is why this country is in so much debt(buying things you dont really need)......plus,stop sending jobs overseas and printing money out of thin air because its destroying the buying power of our dollar (hence higher prices for things)(inflation)

 

[lerath666]

I second the suggestions of " following a theme"

For me, it's about replacing the toys I had and loved as a Child with their newer "grown-up" counterparts.

 

[addicted 2 collecting]

I am the same as you, a completist. It is hard not to try and grab all of them, Hot Toys.

 

[azurepred]

I consider debt any kind of loan, including a student loan or a car loan. A mortgage can be excused because theoretically your home is supposed to be considered an investment--ideally your home will one day be worth more than your loan. But if you owe money to somebody, then you're in debt. You're in deep trouble if you're earning less than it takes to pay off these loans/debts.

well I owe 3k on my CC, so I guess I'm in debt

 

[Mad Old Lu]

well I owe 3k on my CC, so I guess I'm in debt

In all seriousness, why would you think owing 3k on your CC might not be considered being in debt? Sorry if this come across as ******-y. I'm genuinely curious.

 

[Lejuan]

Is this thread for real? I'm in debt and what should I do I can't afford to buy every figure I want?

How about: only buy what you can afford. Seriously mate, that's some messed up developed world whining going on there. My heart bleeds for your complete lack of perspective.

 

[ProgMatinee]

what do you guys consider debt though? I think some of us would perceive it differently.

In this scenario I consider it anything except a mortgage. If you have a business loan or something, thats different.

If I owed on credit cards, school or cars I would not be collecting. I feel nervous enough buying these high priced luxury items and I only owe on my house.

But I feel that way buying anything more than a $120 watch too.

 

[quiggle]

did any of you read the canterberry tales, there was one character if I recall who loved books so much he saved his money to buy them over eating. can you consider doing the same?

 

[azurepred]

In all seriousness, why would you think owing 3k on your CC might not be considered being in debt? Sorry if this come across as ******-y. I'm genuinely curious.

because I'm far from being maxed out and I can definetely pay it off. People put things on their CC all the time, that's the point of having them. If you aren't capable of paying it off, then I would say your in trouble. One of the biggest problems with the economy, which someone pointed out earlier is that people are putting too much on their CC and getting so far into debt, that they can't pay it off. I guess debt is debt, but when it comes to this hobby, I think if you can't pay off that debt, then you have a problem.