by Pete Deleo
In the United States, the birthplace of rock’n’roll, there are nearly 2.5 million guitars sold every year. And while the average price per instrument is higher than a typical holiday present—$433—guitars can actually be one of the most fiscally responsible gifts that you can give.
Once you’ve made the initial purchase, the musician in your life can enjoy a guitar nonstop with few additional expenses. Unlike more physical pastimes, they’ll be able to continue playing their guitar at any age. Guitar players can provide free entertainment, or even turn their hobby into a side job and make a little extra money too!
But purchasing a guitar should still be considered an investment. And just like any other investment, you’ve got to do your research and learn how to get the most bang for your buck. Follow these tips and you’ll be able to help keep the guitar player in your family from becoming another starving artist singing the blues!
Shopping for a first-time guitar player: If your 16-year old just got their driver’s license you wouldn’t purchase them a Rolls Royce. So why would you spend lots of money on a guitar? There are so many different types of guitars on the market today that finding the one that feels right can take some time. Check your favorite music store for guitars for sale on consignment, look online, or even look for guitars available for rent. That way, you can let your budding musician explore their newfound passion without breaking the bank.
Maintaining your instrument: Once you purchase your guitar you won’t rack up expenses as long as you maintain your instrument properly. A properly maintained guitar can last decades without anything other than the occasional new pair of strings. But if you don’t maintain your instrument, it can fall into disrepair, requiring work that can be more expensive than the guitar cost in the first place! Keep your guitar away from extreme hot or cold weather to avoid warping or cracking. When not in use, loosen the strings so that they put less pressure on the neck of the guitar, which will also help to curtail warping.
Consolidate gear for electric guitarists: Acoustic guitars require nothing more than a few fingers to strum their strings. Electric guitars, on the other hand, will be a little more expensive. You’ll need to purchase amplifiers, PA systems and cords—at the least. If you’re shopping for an electric aficionado, you can help save some extra money by purchasing all-in-one gear. For instance, some acoustic guitars come with electric pick-ups so it’s as if you have two guitars in one. There are also amplifiers that come equipped with PA systems so that you won’t have to purchase both separately.
Follow these tips and by this time next year, you may even have someone to play you some of your favorite holiday tunes! To see more great ways to save money in your daily life, check out Milford Bank’s blog here, our online Learning Center, or stop by a office location near you!