I have a few guitars that cost more than I thought I would spend. But all of the guitars that I have spent the bigger money on, $3000 - $4500, I bought them used, and I could easily sell them for more than I paid. I own my home and cars, and have no hobbies that cost any money. I do have quite a few guitars and amps, and I own a lot of recording equipment. But I use the recording equipment all the time, and make a side income with it when I'm not gigging heavily. So the money I put into musical equipment is surely not draining such as hobbies like boating, motorcycles, snowmobiles, sports cars, etc. I use my musical equipment as tools of my chosen profession.
I've noticed in the last few years that I'm choosing a certain few instruments (and recording equipment like preamps and mics) to play and record with, so I may start selling a good share of the equipment I'm not using. It just took me a while to figure out what works for me. And many of the pieces I favor are ones that I've spent a bit more money on so I guess it was worth it to spend the money.
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