We are often asked about Speakers, should it be studio monitors or can I use hifi speakers. In general you must have a speaker, that have some power and is robust, but most important it has to be so transparent that you can hear everything what is going on in your mix, from the neddle to noise issues, and so on. Here the studio monitor will win against the hifi speaker, because the hifi speaker is made for all kinds of music, and has to sound good and soft.
Many of the studio monitors out there do not sound good, and that's allright because you have to see them as a tool.
Anyways ofcouse there are some hifi speakers that are so transparent and even sound like a dream, but they are a bit expensive - we are thinking of electrostatic speakers or B&W nautilus speakers ( Abbey Road Studio use B&W ).
The most important thing is that you use speakers that you know the sound of.
Example : let's say you have 5 favorite records in you music collection, these 5 records you have listened to over the same speakers for years, you know all the bass notes, breaks and so on. These are you favorite because they blend out of your music collection, and they sound really good. You have to put you own mix on these speakers too, and then you compare, because you know these speakers well, you instinctly can hear what is missing or wrong with your own mix.
The Conclusion : Start to make your music on studio monitors, so you have all the transparency, and when you have finished the mix, it has to sound good on your ordinary speaker.
So if you want to buy new studio speakers, the most important thing is that, you learn to know how the speakers sound, take you 5 favorite records, and listen for days, and then you can start work on them. Of couse you can also buy expensive speakers where all parameters are just fine.
Note : It is always a good idea listen to you mix on many different speakers your friends speakers, parents speakers, in a car, they all sound so differently, it will give you a hint of your production, but watch out that you don't take it too seriously here, because we also hear a lot of good music, that sounded bad on many of these kind of speakers - but in many cases it is not the music that's the problem but the speakers.
This was the short version :-)