I have 5-6k into my 37gal livestock and equipment
11-12k so far into the 175gal just equipment and building materials.
anyone taken out a loan for their fish tanks?
- Thread starter areze
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11-12k so far into the 175gal just equipment and building materials.
Indirectly, that's exactly what my wife and I did. When we bought our house we planned on the tank (in fact, the house layout we were looking for had to take into consideration an inwall tank). While we didn't directly add to our loan for the tank, we did reduce our down payment by about 5K specifically to keep some cash for the tank construction.
speedingredline
New member
I'm racking up Marriott Rewards for my project. But I have the cash to pay it off and pay it off I will. I also have money in my paypal account. So if I can get some stuff on ebay, new or used. Its covered that way as well.
Even on a larger system it will not be far off if the tank is well stocked and the equipment is bought brand new are bought brand new. tank, stand, corals(corals to replace ones that may have died), fish, rock, CA reactor(or chemical additives), sand, pumps, plumbing fittings, lighting, refugium, (QT tank if you have one), sump, the list goes on. I have a 505gal and I know it is off, but not too much when playing with those size numbers.
asnatlas
New member
Ok, maybe my last statement was a little skewed as I went the "cost effective" route on my system... I got everything new but I went with Rubbermaid poly tanks, instead of going with a custom sump / ref made from glass or acrylic... Baserock instead of going with LR that was $4-$6.00 a lb... Building a custom wood stand myself... But everything else is top quality :
IceCap ballasts for 4x MH's and 8x T5's...
BK400 EXT skimmer...
3 sided 3/4" low iron glass tank (96x48x30) with custom overflow/tunze boxes...
2x 7095 Tunze controllers with 2x6200s and 4x6100s... Aquatronica Controller with all accessories...
90% of the plumbing will be done in sched 80...
More...
So I guess if you just throw a system together over night you may spend the avg $55.00 per gal but if you take your time and plan everything out and shop around... You can end up saying quite a bit in the end...
Lunchbucket
Premium Member
the cost worries me a lot. i wonder if i really want a bigger tank. i have a lot of nice stuff on my tank but i dont' like spending the $$ for it. i'm cheap in a way. i'm newly married (1.5yrs) have student loan payments coming up and a house soon. i sometime feel like selling everything but it is all paid for now. moving to a bigger tank doesn't make my stomach feel good. i want one but i need to have my life in order first. so my 58gal will last me for a few more yrs. they maybe a 120 at MAX...which i have almost all the equipment for.
i hate the $$ side of the hobby...especially when my wife and i won't be rich or earn a lot. my family comes first and if need be my reef will be no more. it will take a LOT for me to get rid of the 58gal. it would have to be a last resort. my wife realizes how happy it makes me and she enjoys it too
bulked into building a new house maybe but on an exsisting house...that will never happen. i'll have to piece it together
Lunchbucket
i hate the $$ side of the hobby...especially when my wife and i won't be rich or earn a lot. my family comes first and if need be my reef will be no more. it will take a LOT for me to get rid of the 58gal. it would have to be a last resort. my wife realizes how happy it makes me and she enjoys it too
bulked into building a new house maybe but on an exsisting house...that will never happen. i'll have to piece it together
Lunchbucket
Saltywater
Premium Member
So far I have close to 30K in my 180gal tank that has been up for about 1 year and 5 months. This money was from bonuses and other extra income and income tax returns. I am in the process of upgrading to a 450gal tank and so far I have over 10K spent on this upgrade. I will be using most of the equipment from the old tank for the new tank.
luvtolean
New member
Listen to your gut. I got out of college and dropped very large amounts of money racing motorcycles for three years...quite a bit on credit cards.
My student loan got only slightly above min payments the whole time.
I'm dug out of the hole now, and have only truck payments and about 1/2 of my student loan left.
Keep your current tank, and focus on paying that loan down! In the end, the money saved on interest will give you a great new tank...free!
The only thing IMO one can rationalize borrowing money for, outside of medical issues, is to buy a house. Other than that, you should have a cash fund for things like a leaky roof.
I know the whole "earning equity" thing for a remod comes in, but even that, unless you're adding rooms for children instead of buying a new house, IMO should be paid out of pocket, not out of interest.
Sit down and really look at how much money you have lost paying people interest over the years. That money could've been yours!
creepereefer
In Memoriam
I sold my youngest to pay for my tank
Lunchbucket
Premium Member
luvtolean - very good words of advice. i think the wife and i are on the same page. we haven't bought that much and we don't like to. living VERY cheap right now and putting good chuck of our monthy pay in savings and i'm saving well for retirement (long way off goal). i guess we are starting to be smart and we both don't like using ANY CC's. i am almost done w/ the payments on mine...stupid college kid. so i guess i hear you on only financing a car or house. others need to be paid for out of pocket. if you can't afford it don't get it i guess. good thoughts
BTW - student loans SUCK! i have a decent chunk but doesn't compare to some people that went to big U's or private U's. but i won't earn that much so it cost me plenty. sometimes i wonder if my masters was even worth it. my undergrad would ahve been plenty. but i guess i am young who knows what will come up on down the road
Lunchbucket
BTW - student loans SUCK! i have a decent chunk but doesn't compare to some people that went to big U's or private U's. but i won't earn that much so it cost me plenty. sometimes i wonder if my masters was even worth it. my undergrad would ahve been plenty. but i guess i am young who knows what will come up on down the road
Lunchbucket
luvtolean
New member
I am good at working on cars, so honestly, I don't think I'll ever even let myself have another car payment. For my GF, she needs newer cars, so it's a bit different for her.
I'm also lucky enough to make enough money that I can pay my truck off before the loan ends...and it is wore out!
I don't know what your undergrad student loans look like, but my GF is currently in law school...you talk about spending money!!!
I was at a prestigious university starting work on my Master's (and hopefully PhD) in mechanical engineering. When it became evident I would have to quit my job to do it properly, and go back to living on loans, I quit rather than get the advanced degree. (there was more to it than that, but cost was a HUGE factor) The cost, including the loans and lost wages of the 3 years in school, just weren't worth it to me.
I'm also lucky enough to make enough money that I can pay my truck off before the loan ends...and it is wore out!
I don't know what your undergrad student loans look like, but my GF is currently in law school...you talk about spending money!!!
I was at a prestigious university starting work on my Master's (and hopefully PhD) in mechanical engineering. When it became evident I would have to quit my job to do it properly, and go back to living on loans, I quit rather than get the advanced degree. (there was more to it than that, but cost was a HUGE factor) The cost, including the loans and lost wages of the 3 years in school, just weren't worth it to me.
Ocicat
Premium Member
Paying with a CC that has rewards is the smart way to buy if you pay it off every month. I use a CC all the time and never carry a balance. You have added security on those purchases, and you get rewards. On my Visa I get a $25 Amazon.com gift cert every few months (every $2500 spent), and I use my AmEx for eating out (2% back) and travel (3% back).
I'm buying equipment for my 180 very slowly. I don't see it reaching $10,000, however, like that $55/gallon equation suggests! I am buying some used equipment and I got my tank on sale, but I'm also getting a custom-built stand & canopy (~$1500), expect to spend $1200 or so on lights, and am opting for some other more expensive options. Yet even with livestock, rock, and sand it shouldn't go over $6000... maybe unless you are talking over the entire life of the tank, with electricity bills, etc.
I'm buying equipment for my 180 very slowly. I don't see it reaching $10,000, however, like that $55/gallon equation suggests! I am buying some used equipment and I got my tank on sale, but I'm also getting a custom-built stand & canopy (~$1500), expect to spend $1200 or so on lights, and am opting for some other more expensive options. Yet even with livestock, rock, and sand it shouldn't go over $6000... maybe unless you are talking over the entire life of the tank, with electricity bills, etc.
this hobby is outright expensive but i've managed to do my whole 55gal from ground up almost fully automated except for top off and automatic water change for about...$1k without livestock. it can be done cheap if you have patient and gas money to drive around to pick up your equipment. i wonder sometime...how big of a tank would i have gotten if i didn't blow all of my profit made from trading stocks in 01' on a motorcycle and car...i was 19 and stupid. now i'm 22 and less stupid.
speedingredline
New member
I burried myself into debt when I turned 18. It took me almost 10 years to undo what I did in about 2 yrs. When I finally got out of that debt my Rottweiler got very ill, now deceased, and we bought a riding lawn mower. So I was back in debt up to my eyeballs. That was 2 years ago. Now, I am 30, as of this past Thursday, and I have no credit card debt, my wifes car is paid off, my school loan is paid off. The wifes school loan will be paid off with the tax returns most likely. Which leaves us with our mortgage, and my car loan, and I plan on paying it off in the next 6 months. So I had 5yr loan on the car, and it will be paid off in 18 months.
Anyways with the proper planning and paying extra in the right places you can get ahead pretty quick. As hind sight is always 20/20, if I wasn't stupid when I turned 18, I would be so much farther ahead in life. But such are the trials of life. But I am rewarded now that I can put up a 240 gallon reef, and not be in debt doing it. And I will still be able to stock the tank without worries either.
Anyways with the proper planning and paying extra in the right places you can get ahead pretty quick. As hind sight is always 20/20, if I wasn't stupid when I turned 18, I would be so much farther ahead in life. But such are the trials of life. But I am rewarded now that I can put up a 240 gallon reef, and not be in debt doing it. And I will still be able to stock the tank without worries either.
DitchPlains2
In Memoriam
What Laura wont tell you is your house, is the BANKS ASSET not yours, big myth right there.
Would I take out a loan for my reef tanks, ummmm never!! I will find a way to get someone else to finance it for me. ie: private mortgage from someone building their reef...lol
good luck
David
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