Question: You’ve heard of the toys for the big boys, right? Well, my husband is fond of guitars, as I know you are. And he keeps on spending on these expensive guitars, pedals and amplifiers when he does not even play guitar professionally. He says he buys guitar gear because they are what his guitar heroes use. How can I stop him from spending so much of our money?
Answer: I bet your husband has lined up another purchase for the coming holidays. Your husband is what is “clinically” defined as suffering from gas but not the intestinal kind.
Your husband is suffering from what is called gear acquisition syndrome. So, let us analyze how this GAS comes about.
According to Microsoft Copilot, guitar is the most popular music instrument in the world with over 50 million guitarists playing the instrument, both in acoustic and electric types.
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These guitarists learn and play across various genres like rock, pop, jazz, blues, country and more. However, estimates show that only 25 percent of guitar owners are professionals with the majority being amateurs or hobbyists who play for fun and personal enjoyment. In fact, because not all guitars are electric, only 10 percent to 15 percent of guitar amplifier owners are professionals.
Playing the guitar is “cool.” And I would be so bold to say that even with the advent of AI, physical guitar playing will be a mainstay for both professionals and hobbyists for many more years. The global guitar industry was estimated at $10.30 billion in 2022 and was expected to grow exponentially by 7.7 percent per annum.
But the dominance of nonprofessionals is not just prevalent in guitar playing. It is estimated that only 10 percent to 15 percent of piano owners, 5 percent to 10 percent of violin players, and 10 percent to 15 percent of drum owners are professionals. This phenomenon begs the question of why playing musical instruments is a very popular hobby.
To paraphrase Microsoft Copilot, playing musical instruments is popular because:
- Music is a powerful way to express emotions and playing a musical instrument helps people channel these emotions creatively.
- Learning and playing musical instruments improve cognitive functions such as memory, concentration and critical thinking skills.
- Playing musical instruments is great therapy for reducing stress and anxiety.
- Playing musical instruments can be a social activity, whether through bands or simple jam sessions with friends.
- A tangible sense of achievement and satisfaction can result from mastering a piece on a musical instrument.
Since music is deeply rooted in culture and tradition, playing musical instruments helps individuals connect with their heritage.
At the end of the day, music brings joy and entertainment to the player and listener.
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GAS is a product of marketers tapping into basic human needs underlying the foregoing seven reasons why people like to play musical instruments. But there is another basic human need that you may want to tap into that can override all of these basic human needs that are mostly inward looking—that is the need to primarily make others happy. This is the need that slaps parents in the face the moment they start to have children.
Perhaps your husband is just overwhelmed by aggressive marketing campaigns that are magnified by the sinister algorithms of social media. So, just do counter programing and remind your husband of this need to make other people happy. And what better help to remind your husband than the humbling thought of Him who freely gave up His life for the salvation of mankind?
May your 2024 Christmas be blessed with a focus on others.
Send questions via “Ask a Friend, Ask Efren” free service at www.personalfinance.ph, SMS, Viber, Twitter, LinkedIn, WhatsApp, Instagram and Facebook. Efren Ll. Cruz is a Registered Financial Planner and Director of RFP Philippines, seasoned investment adviser, bestselling author of personal finance books in the Philippines and a YAMAN Coach.