Doing Audio on a Budget – Part 1

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Doing Audio on a Budget Part 1 – Uncommon Advice

This is the first in a continuing series about doing audio on a budget. There are plenty of common-sense solutions to saving money, such as buying equipment used, paying with cash instead of credit, and doing thorough research before making a purchase. These are some ideas for less common strategies to save money.

Don’t buy in bulk. That’s right, don’t buy in bulk. Or more precisely, avoid bundles or package deals. It’s very tempting to buy a package of audio three plug-ins for $50 as opposed to buying a single plug-in for $35. After all, you’d be getting two additional plug-ins for the only a fraction of the cost of the original in this example.

People irrationally feel more pain from missing out on something than from gaining an equal value. Studies show that losing $1 is more painful than the reward of gaining $1. These bundle packages prey on our fear of missing out, which makes them highly effective at getting you to spend more money.

What’s the solution? Decide exactly what it is you want ahead of time. Write it down on paper so you can’t rationalize it later. Only, and I mean only, purchase the items on your to-buy list. Spend $100 on what you absolutely need, rather than $200 on “bonus” fluff.

By the way, those “extras” are usually junk that clever marketers include to get you to spend more money. Up-selling is such a common practice in sales that it the process has its own name. For example, car dealerships know that if you’ll buy a $30,000 car, then you’ll likely pay an additional $5000 in floor mats, tinted windows, a spoiler, and a larger engine. Look for up-selling everywhere you go, and you’ll be less likely to fall for it once you recognize the pattern.

You have to battle marketing psychology with your own self-psychology. Marketing and advertising exist because they’re effective. Understand that you’re vulnerable to persuasion as all humans are, and refer back to your list when you get an email about special “deals” that entice you to spend more money than you allocated. Buy the single things you need, rather than the bulk of nice-to-haves. You’ll have more money in your pocket, and I promise you won’t be missing out on anything but an empty bank account.

 

CEO and Founder of Finewav. Instagram: @ErykThompson Vero: @ErykThompson

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