I started to say that but thought I better not. You never know who might visit this forum.
Just saying. Not advocating that approach.
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Thanks for the long share! I read it all in detail 
thank you.
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Glad to be of service! It’s definitely easier to improve a system over time.
I got a new pair of headphones for my wife …
Good swap 
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+1 to all the solid life and hifi advice here. I will just add a couple cents…
The concept of “disposable income” is key. You really must be willing to “throw away” the monies spent without any adverse affect on your financial health. Sure sometimes we will splurge but it’s always best to be prepared not to regret a total loss.
Definitely try to avoid swapping gear a lot, you will never break even much less make money on this stuff except in extremely rare circumstances. It’s like cars, they depreciate the moment you drive them off the lot and except for classics, someone is always losing money when they change hands. Do a good amount of listening and research until you zero in on something you are confident will work from you, and if you buy new, try to find a dealer who has a trial or accommodating return/exchange policy. Even store credit is tricky though as they may not have the gear you are really wanting.
OTOH, once you find something you really want, don’t feel guilty spending the money, even if it’s on the edge of responsible, if it really makes you happy. Why do we work so hard in the first place? If you have the means, use it to enjoy life and reward yourself. If good hifi is what brings you joy, the money is well spent.
Try to invest a bit in acoustic treatment, certainly high quality furnishings like nice wool rugs that beyond sound quality bring comfort to your space, and maybe just a pair of panels at the first reflection points. A very modest investment here can give big benefits.
I agree wholeheartedly with all of @Jeffrey_Chen’s perspectives (especially the reality of not having kids being the easiest path to more funds, my wife and I have gone the dog route which is a bit cheaper 
). His point about going after musical, not expensive, gear rings especially true and this used to be my raison d’etre for any purchase in my system. Many of the $200k+ systems I’ve heard at the audio shows have been very unmusical - a $1M one at RMAF sounding absolutely dreadful to me! Whereas a pair of well-designed 2-ways with a tidy amp can sound lovely (and this was my formula for most of my life). Ironically, the bigger and more complicated the system (especially speakers), the more things that can go wrong sonically. Keep it as simple as possible unless you can afford to tame the complexity, and focus more on system and taste matching than absolute quality and certainly price. Components working together in a way that works for your ears helps the most.
This all said, and I’m going to sound like a bad influence here, I will give one contradiction. I recently splurged on a $20k+ speaker and even more expensive separates, well beyond what I ever thought I’d spend. It wasn’t impulsive, but it certainly was less considered than my past purchases - I did a fair amount of research on the speakers but pulled the trigger on the amp/preamp with zero listening, no reviews available and a single word-of-mouth recommendation. But I have to say this gear honestly has me ready to quit this silly audiophile hobby because it sounds so wonderful and all I want to do is listen to more music. The combination of gear (along with commensurate cable and power upgrades) has stripped away so many distortions and irritations that the sound no longer registers to my brain as “hifi” and all I really tune into now is the music. No it is not “perfect” but it is so much more satisfying than anything I have experienced in my home (or outside it for that matter). I’m sure the upgrade bug will bite again at some point but I’ve completely stopped thinking about other gear, and my wife (a musician who usually scowls at all the big ugly boxes of gear) has admitted it was worth it as well. So I won’t discount the possibility someday being able to spend an otherwise obscene sum of money and being extremely contented with it - dreams can come true. 
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With lots and lots of money
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Pretty much. 
Forgot one tidbit of my own journey that I was retelling someone in another forum. It helps to “invest” in a centerpiece of your system and keep that stable for a while. For most people, this will be the speakers. My first splurge purchase was a set of used Merlin TSM-SE when I graduated from university. I think I scraped together $1600 for them which was an obscene amount of money for a new grad. I wound up keeping those speakers for 17 years, upgrading them 3 times at relatively moderate cost. If you can find a centerpiece like that, it’ll make budgeting your upgrades a lot simpler.
Another trick I didn’t do so deliberately but sort of followed intuitively - create an annual savings/budget, and then using it to upgrade one part of your system at a time. Let’s say you’re able to put away $100 per month in the audio fund. You can then get a $1200 upgrade one year, or a $2400 upgrade every other year. Incremental upgrades are actually wiser as switching too many variables simultaneously can lead to chaos and bad purchases. Looking back, most of my major upgrades were spread out over long time spans and I generally got several years of enjoyment out of every purchase - 17 years from the Merlins, 6 years from a Monarchy DAC before I upgraded to PSA DirectStream, around 10 years from a now-defunct Australian amp. CD players/transports (remember those?) tended to cycle a bit more but they were a lot cheaper, e.g. a few hundred for an Onkyo or Sony SACD player - they don’t last as long anyway. And things like cables can stick around and be useful for decades.
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I worked for him in the early 90s. He was selling a course on how to invest in real estate with no money down. Not the most scrupulous man or organization around.
He’s done business under MANY different company names and left investors high and dry along the way.
I fund my purchases by never spending more than I make. Its worked very well so far.
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A friend of mine took that course, in the early 80’s. A real born-again P. T. Barnum, I figured. As I recall, the second chapter of “Creating Wealth” advised the reader to write and sell a book about how to get rich.
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This is fantastic! and by far the most detailed experience and good advice here Do not feel bad that you splurge on that last purchase, at least you got your final pieces. Hopefully it’ll be loved and satisfy for as long as time goes.
Thanks for sharing. Lots of loud business people tend to sell stuff of empty value. :X It’s unfortunate they keep earning through these questionable methods.
Checkmate!
They’re out there I’m sure
My best advise would be to buy 2nd hand. It’s amazing how many people buy and sell stuff they don’t need or like. I put a very nice set together this way.
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I done interest free paying a lump sum is abit much for me
I have had many hobbies over the years, but currently on hifi/head-fi.
The key for me is to set an affordable monthly amount. Then either save up or finance, but don’t go over the affordable limit. You can still have a lot of fun doing it that way, and you get the anticipation of spreading out and enjoying your purchases over a time frame that suits you.
Whether it’s £/E/$ 50,100, 200, 500 or 1000 a month, there is a lot to discover, explore and enjoy within all of those price brackets. Multiple by 12 or 24 and you will be surprised at how nicely you can get a lot of good stuff that will bring you fun and enjoyment.
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I am an attorney. I don’t suffer too much from “upgrade-itis,” although when it hits, it is usually a $4-8K hit. I fund my purchases by upping my hourly rate or filing a motion in one of my cases that needs to get filed anyway. That usually takes care of my purchase, LOL!
Done the same here too. We waited till we retired to finish our dream system How sweet it sounds
That’s about what I’d expect from a lawyer. 
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