Priorities

[dinkjs]

So this topic pertains to priorities for those that are on a shopping allowance or budget. Case in point I am allowed a certain amount of money each month for woodworking or ANYTHING else for that matter....meaning if I really want something or need something I really have to way the consequences with each purchase....To give in example....I am really wanting either a Festool Parallel Edge Set or MFT table and I have to way the consequences...do I hold the money and save or buy a certain item now if it is on my list. But there is a huge wrench in this....that same money also pertains to everything else not including woodworking....so yesterday I really had to weigh my prorities with my allowance or budget whatever you want to call it for yourself.....I know I really want and need that set or table but something that is just as important is a higher capacity External harddrive....so yesterday I had a discussion with my 1 year old daughter and we both agreed that the external hard drive was more important now than what the MFT or parallel set is

So lets discuss this topic with those who are put on a monthly budget by our partner and how do you personally deal with your situation? It would be great to hear from people that have the same situation as I were that same money also has to go toward other things not just woodworking

[blkdiamond]

I do feel your pain. I have found that the hobbies that I have had interest in over the years tend to be pretty expensive. Some of my interest include computers, golf, watches, and woodworking. Most of the time, if I want a new "toy" I have to sell and old "toy". Thanks to ebay and craigslist, this works out pretty well. The conversation with my wife tends to be, "I can't believe that you bought another too", and I say, "Yes, but I sold my _____", and this seems to work. Also, once a year I get a pretty decent bonus from work and I spend some of it as a gift to myself for all my hard-work. Another point that works with my wife is that I do most of the home repair and work on our vehicles myself. So yes, I may spend some money to buy tools, but I saved a ton of money by doing stuff myself. I was having some issues with my car a few years ago and I took it to a repair shop to get an estimate on the repairs. They provided me with an estimate of over $5,000 to fix everything. I did all the work myself and spent about $1,000 on parts and since I already have all the tools there wasn't any additional cost there.

[jimmykx250]

I know that pain. With kids in the picture I put my hobbies further down on the list, but at the same time woodworking is my sanity and the wife reaps alot of benifits from it. I have done a few pieces for commision so I feel like I deserve to buy tools for myself weather they plug in or are sweat powered, if it makes me more efficient im going to buy it (within reason). I am always buying used stuff so im saving money there for sure. It's like anything else all in moderation. The big thing here is does it bring money into the house or is it just a lisure hobby?

[petersb]

I don't have a "regular" or "steady" allowance for my hobby budget, but I do have to budget for purchases and I do have to justify them to myself and to my wife sometimes. Our situation is a single family income with 7 kids to feed, clothe, and provide for. Fortunately I have been blessed with a good job with the potential for a good amount of overtime. I am a lineman (powerlines) and people like to have their electricity so it is important to keep the lights on and they seem to go out in the least convenient situations and times, and that means overtime.

My budget usually comes from checks with overtime on them. We are budgeted for my regular 40 hour work week and that doesn't include hobbies/extras. Money is tight on a "regular" check (we are house poor). With overtime, we usually get to "treat" ourselves with some of the extra things, like hobby purchases. I may have a need for materials or a tool or something and we account for that on the checks coming in with OT on them. I may go a few checks without any OT on them and may have to wait until the next OT comes in to make a purchase and then sometimes I have a ton of OT and I have been able to make large purchases. All of the "budget" doesn't always go to may wants either. My wife is into photography (not cheap)and she likes to get "stuff" related to that and we also like to get nice things for the kids too, and with 7 of them it adds up FAST!

I have been getting tools over the past 11 years so my expenses have been spread out over that time and I try to keep an eye out for tools that are used or going on clearance or on sale. Some tools have even been given to me like my RAS and my old Craftman jointer. My Dad is a woodworker too and he and my Mom usually give me woodworking gifts on my birthday or Christmas... so do my wife and kids. It takes time and patience to get the right deals, but that is part of the fun of this hobby too. I try to tell myself to enjoy the journey and not always have to get to the destination right away to enjoy it.

I also have had some other expensive hobbies over the years but I have always come back to woodworking. For me it is fun and practical. Owning a home is also a good way to justify some of the tools because I can do most of the work myself and feel that I am saving money, even when I "need" to buy a tool for the job.

[usacomp2k3]

Materials (lumber) usually comes out of the house envelope as do small dollars tools required to assembly stuff for around the house (individual bits, blades, etc). Anything beyond that I have to split over my monthly blow money. It's not an allowance that is placed on me by my spouse, but a mutual decision based on what the long-term of where we want our family to be financially.

[TomP]

My part time job as a basketball and soccer referee help pay for my woodworking equipment. I use the money for other things also. Anything project I make I usually give to a family member or friends.

[markhochstein]

I don't have a specific dollar amount allocated for woodworking purchases, but I too have ample opportunities for overtime. I normally use my overtime income for my major items. I've developed a system that I use in determining what I'll buy. At any given time my wish-list of items is long, but when it comes time to make the purchase I normally buy the tool that will increase my capability rather than upgrading something that is still getting the job done. Case in point: recently I had three major items at the top of my wish-list. When tax-return time came I had to decide what I was going to get. The items in consideration were: a SawStop table saw, a cyclone style dust collection system or a finish spraying system. I have an 11 year-old contractor style saw and 3/4hp mobile dust collector that are working OK so I decided to get the Apollo 1035 turbine system. The other two will have to wait a while.

When I first started buying tools when I was a teenager my father gave me some advice that I never forgot. He said, "Buy the good stuff, you'll always be happy with it. You'll have less but you'll save money in the long run." When I first got into woodworking I tried to to take the cheap route and quickly discovered that his sage advice held true for woodworking tools as well.

[Dyami Plotke]

I tent to blur the lines of our budgeting and much of my Woodworking come by way of the home improvement budget. As for non-woodworking items, we have 3 small kids so there are plenty of those non-woodworking items and the do, of course, tale precedence.

[ChetlovesMer]

A few years back I turned my hobby into a tiny little side business making custom pieces and cabinets.

Today my little business runs just about at break even.

My next big ticket item will be a serious up-grade to my DC system.