Financing a "large" tank.

[zenom]

So I am curious, without getting into too much detail, how do you guys swing these large tanks. I make really good money and yet I couldn't imagine spending the money on supplements, pumps, filtration, equipment that some of you guys spend on your tanks.

Are you saving for years upon years? Re-financing your house? Just make a lot more than most people etc?

I am curious how those of you have some of these large tanks prepare for the cost and how long it took you to plan/save for these types of tanks.

 

[troyholl]

So I am curious, without getting into too much detail, how do you guys swing these large tanks. I make really good money and yet I couldn't imagine spending the money on supplements, pumps, filtration, equipment that some of you guys spend on your tanks.

Are you saving for years upon years? Re-financing your house? Just make a lot more than most people etc?

I am curious how those of you have some of these large tanks prepare for the cost and how long it took you to plan/save for these types of tanks.

Beyond using your credit card for short term (i.e. 30 days) cash flow I wouldn't borrow to be in this hobby.... my suggestion is to do what you can afford; anything more than that is foolish for your long term financial stability..

 

[Pife]

I make what a good salary and don't have any debt.

 

[zenom]

Beyond using your credit card for short term (i.e. 30 days) cash flow I wouldn't borrow to be in this hobby.... my suggestion is to do what you can afford; anything more than that is foolish for your long term financial stability..

By financing I didn't mean literal financing. I am curious how people go about getting into some of these big tanks. I just meant how are people actually affording buying $300 in supplements, salt, food for a 500g tank or something

 

[hcl2195]

That is a good question zenom. I have asked myself that same question. Come on guys, give up some of your secrets

 

[avandss]

i guess it all depends what your definition of really good money is, i am in this hobby and many more based on my income

my definition of really "good money" is 500k + income.

i am sure the guys here running 300g+ reefs are not far from that category (at least as a household income)

 

[ca1ore]

I would imagine most people just work up to it. You buy some equipment for a smaller tank, then upgrade and repurpose much of it and so on. The tank itself is not too bad. OK, there are some really over-the-top setups here and those require some serious coin, but many others do not. Aside from livestock purchases, I figure my 265 runs me about $150 per month in maintenance - I've got a buddy who spends more than that on beer!

 

[rfgonzo]

i guess it all depends what your definition of really good money is, i am in this hobby and many more based on my income

my definition of really "good money" is 500k + income.

i am sure the guys here running 300g+ reefs are not far from that category (at least as a household income)

If you feel that someone needs to make somewhere around 500 K to have a 300 gallon aquarium you're not even close, sorry. even with all the top equipment a 300 gallon does not cost that much to keep up and running at max 3 to 4 hundred a month and that's on the high side. Getting started is another story if you're starting out with nothing. Please don't ever go in to debt and use credit cards for an aquarium budget your money save your money and then purchase as needed if you cannot afford to buy everything from the beginning.

 

[ninjazx777]

I'm guessing a lot of people are like me and saved for several years to build a large reef and sell coral frags to pay for maintaining the system.
Oh and my system is 1000 gal twv and me and my wife make less then $80,000 a year with two kids and another on the way

 

[sfsuphysics]

I make a very poor salary (teacher), but I don't have a lot of other expenses, no car payment, no house payment, I'm frugal as all hell. Most of my tanks have been free so that part didn't cost much, but yeah few thousand hear and there for pumps/lights/skimmer turns into a good vacation amount of money. Knowing the no-aquarium versions of chemicals always helps too, dosing 2 part? Yeah don't buy any brand name stuff, buy the raw elements, kalkwasser? NO! Calcium Hydroxide yes.


Water changes are my biggest issue, I understand dilution is the solution... etc but to me it always feels like I'm wasting perfectly good salt water down the drain. But that's the frugal aspect of me

 

[MikeTR]

I quit smoking cigs and now spend that $150/mo on the tank, now if I could just quit smokin that other stuff, I could upgrade.

 

[MikeTR]

that.. and two tax returns.. took me about a year to build..

 

[dlondono]

People charge up credit cards and many get buyers remorse or too much heat at home and end up breaking down to recover funds and pay off bill.

 

[RJT]

You don't need a big budget for a nice tank if you are willing to go used or barter.

On the other side, I have been to fish stores where people get fish and pay for it later in payments.

 

[viggen]

For me its all about connections..... . A good friend has a aquarium service company and he sells me stuff at his cost

Salt pops up on sale at times, I try to snag a bunch when it does. Instant ocean at $26 for a 200 gallon box.... Been trying to change 50g weekly. Rarely do I pay more then $40 for the box.... My friend uses I think "forty fathoms" which he pays under $20 for a 200g box

Being a fowlr I do not use supplements......

Food isn't to bad.... I feed flake, pellets and frozen..... Fish are getting BIG so that cost will be going up

I purchased some of my equipment used and some new, just depends on what deals were out there and what I need. Live rock I purchased some from a few wholesales and some from people getting out of the hobby or just selling it for whatever reason.

Cost me well under $10k for my tank, livestock equipment etc.... And I made $7,000 last year

 

[zenom]

Interesting to see all the different ranges and ways for people to accomplish their goals for a large tank. Luckily I am only at 165 Gallons and couldn't imagine maintaining anything larger and this one has cost me enough already

Keep it coming, maybe it can help others figure out how to get their dream tank without breaking the bank. What corners did you guys cut to start? It seems getting tanks for free or trade seems to be big, what about other pieces of equipment?

 

[avandss]

If you feel that someone needs to make somewhere around 500 K to have a 300 gallon aquarium you're not even close, sorry. even with all the top equipment a 300 gallon does not cost that much to keep up and running at max 3 to 4 hundred a month and that's on the high side. Getting started is another story if you're starting out with nothing. Please don't ever go in to debt and use credit cards for an aquarium budget your money save your money and then purchase as needed if you cannot afford to buy everything from the beginning.

again its subjective, here where i live your we pay 50% income tax and 15% on all goods, by the time you send your kids to school (2 kids in private school is about 24k!) pay your house, cars, vacations..... not much is left, i have barely started my tank and my custom stand + automatic generator alone set my back 17k!

and i completely agree that this has to come from your disposable income! you should never ever borrow for a hobby (specially on cc that run 20%!)

this is a very expensive hobby... i can only imagine the impact it will have on my electricity bill, i was reading another thread that calculated 130-200$ a month for 300g+ tank!...

 

[rbarn]

streetwalking on saturday nights here.

 

[ska d]

buying in bulk makes a big difference to. and it keeps me from running to the lfs every weekend where I always spend more than I thought I would. I still go out and buy a bucket of salt when the last one runs out, but I should be picking up 5-6 pails on boxing day, and I could probably cut my salt expense in half for the year.

 

[Baxter]

I am in the process of building a 720 tank with an acrylic 180 gal sump replacing 2 tanks 300 & 225. Yes putting this tank together has been big expense but the relaxation it gives us after the stress at our offices is more than worth it.
I agree you need to just build the biggest tank you can comfortably afford.