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FORUMS Photography Talk by Genre General Photography Talk 
Thread started 18 Aug 2013 (Sunday) 16:14
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How much debt are you in because of photography?

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Aug 18, 2013 18:42 |  #16

I've been in debt before and I'm not interested in being there anymore because of non-essential purchases. Now I buy whatever photo gear I want with whatever I earn through photography so I guess I'm self sufficient.

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"I need a grip . . . on my life"
1,523 posts
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Joined Jun 2009
Location: Boston, MA
Aug 18, 2013 18:44 |  #17

My photography self owes the rest of me $7k or so. I was pretty close to paying the debt off to myself, but then I bought another 5Diii/24-105 kit, 24-70ii, and some Alienbees.

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126 posts
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Joined Sep 2008
Location: Downey, CA
Aug 18, 2013 19:41 |  #18

Thankfully only $300 from the Canon EOS M deal I couldn't pass up.:D

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D ­ Thompson
3,941 posts
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Joined Feb 2008
Location: Georgetown, Ky
Aug 18, 2013 20:32 |  #19

How much debt am I in because of photography - $0. How much I've spent is a different story, but I've never gone in debt to buy anything photography related.

Canon 5D 20D
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Cream of the Crop
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Joined Jan 2005
Location: Alberta, Canada
Aug 18, 2013 20:43 |  #20

The only thing I'd ever take a loan out for is a house, and back when I had a mortgage I lived modestly so I could sock money away and pay it off as fast as possible. For everything else it's cash or I don't buy it.

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I say stupid things all the time
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Location: Hamilton, New Zealand
Aug 18, 2013 21:05 |  #21

I don't upgrade to anything unless I have got the money for it.

When I buy the item in the shop/online I use a visa card but before I press the submit button I make sure that I have got the money aside in the bank so when the bill comes in I just pay it. You shouldn't be getting in to dept for things like photography gear or computer gear or TVs etc. If you can't afford it then it's not needed.

You shouldn't get in to any kinda of dept to buy equipment and if your a working photographer then it's even more so. Even if your getting paid as photographer then you need to budget a little each job to save up and buy the gear. But you got to make sure that the gear is what's needed and not what you want.

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Aug 18, 2013 21:13 |  #22

Luckily, none. I went through being in debt for almost 30 years. Been debt free for a decade. That's what I get being in the same job for almost 35 years.

Too much stuff, not enough shooting time.

Canon T4i (2 lenses), Fuji X100s, Olympus OM-D EM-1 (3 lenses)

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Aug 18, 2013 21:32 |  #23

This is strictly a hobby for me and I'll consider myself lucky if I can buy expensive lenses. I actually was just able to buy a 70-200 f/2.8L IS II USM. I had the cash for it and I can pay off my credit card at the end of the month. I would not go into debt for this hobby. If I was able to run this as a business, then I could justify taking out loans for new equipment. As a hobby, just no. I'll leave loans for things like a car, house, or something I absolutely need and cannot live without. Lenses are nice to have, but not essential.

In the future, if I see a lens I really want, I will save the money for it. I would have to consider it over things like taking an expensive vacation or something else that year. I'm also lucky to have a job that makes it a short time frame when I need to save for something mildly expensive.

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Aug 18, 2013 21:33 |  #24

Higgs Boson wrote in post #16219136 (external link)
none. my cars, motorcycles, and photo gear are all paid in cash. when I couldn't pay cash for these items, I did not own these items. plain and simple.

Same here, no money in the bank = no food. Only exception was the house, but although I still have a mortgage 12 years later, I could pay it off.

Edward Jenner
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Karl ­ Johnston
Cream of the Crop
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Aug 18, 2013 21:53 |  #25
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my parents taught me to buy everything in cash. I wondered a lot how so many people were geting brand new lenses, brand new top of the line bodies. The whole concept of leasing and financing was something I didn't learn of till last year. I figured everyone was just way more wealthier than I was :D

So, none. I always pay up front and in cash.

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POTN is my life
3,822 posts
Joined Jan 2009
Location: Bucks UK
Aug 18, 2013 21:54 |  #26

Paulstw wrote in post #16219108 (external link)
We all know how expensive this hobby/job can be, however, for most of us its just simply a hobby, and we want the best of gear as much as anyone.

I just wondered how much debt photographers get into to fund their G.A.S or hobby so to speak.

Only asking because I'm about to fire a 70-200 2.8 IS II onto my credit card and its making feel a little ill lol.


I did that on Friday but I think i'm going to call them tomorrow and tell them to cancel :( it hasn't been dispatched yet.

I own a bunch of Canon stuff and I love taking pictures. Follow me on twitter (external link) :o

Cream of the Crop
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Aug 18, 2013 21:58 |  #27


Kids cost lots more - about $30K each of them per year after tax, anything within Canon range just look so dirt cheap compare to school bill!

Canon 5D3 + Zoom (EF 17-40L, 24-105L & 28-300L, 100-400L II) & Prime (24L II, 85L II, 100L, 135L & 200 f/2.8L II; Zeiss 1,4/35)
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Senior Member
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Location: Washington
Aug 18, 2013 22:25 |  #28

To add on to the count: zero debt due to photography.

I suspect there is going to be little of the other side of this conversation going on in this thread. In general, I've found people much less willing to share that they were unable to exert enough self-control to not buy something without going into debt for it.

My wife and I do not go into debt on anything without prior agreement and we don't do revolving debt, period. We had a mortgage, two car payments and some technical college school bills (wife's from before we even dated). It's now down to two mortgage payments - one for our primary residence and one for a property we purchased for my mom a year ago - well before we knew she had lung cancer. So a gal from church is moving in there and we're happy to love her by asking for no rent in return. She'll probably want to pay something, but that's her choice.

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Thomas ­ Campbell
2,105 posts
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Joined Jun 2010
Location: Kingwood, TX
Aug 18, 2013 22:42 |  #29

I would never incur consumer debt to buy anything photography related. Not a good choice.

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CAL ­ Imagery
3,375 posts
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Joined Apr 2008
Location: O-H
Aug 18, 2013 22:46 |  #30

I only have student loans. I pay off my credit card monthly (although I use it to buy everything to rack up points. :cool:)


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How much debt are you in because of photography?
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