What do you think is an intelligent, frugal and at the same time liberal amount
of your income that should be spent on Model Railroading?
Is’nt it sort of like “Tithing”? Give 10 percent of your income to the Religion, I mean the Hobby of Model Railroading? Or is it higher than 10 percent?
I dont have a set amount a year. I just buy waht i can and when i can. Tim
If I would just wade into the colluction of stuff I’ve already accumulated, I could go another ten years and not spend another nickel.
There is no right answer to that. That all depends on priorties and other interests. In my case, I don’t have a formula. I know what I want and I buy it when funds are avaiable.
If something comes out I really want, I will keep extra money for it. Other than that I occasionally will buy something spontaneously, but I don’t always have the extra money for stuff. I usually make a big purchase 2-3 times a year, and smaller stuff on other occasions. as with many of us, I just don’t have the money I would like for the hobby.
There is no set amount, you know how much extra money you have a month after you pay all your bills, utilities, etc. Of that, it’s what ever you feel like spending. Me, as long as my bills are paid, foods in the cabnets to eat, gas is in the car, I’m going to spend whatever I feel like.
If you want to set yourself up a budget and allocate certain amount each month so you don’t get crazy and overspend that’s one thing, but there is no limit in what you want to spend as long as you have the money to do so.
I look at it in terms of my monthly budget in terms of discretionary spending. My wife and I spend about $2K a month on non-essentials (excluding mortgage, car payment, utilities, groceries, etc.). Of this, I probably spend about $300-500 on trains, which represents nearly all of the money I spend on stuff for myself.
My wife and I have separate ‘want what I want when I want it’ bank accounts. She spends what she wants on golf. I spend what I want (and need) on my layout and other railroadiana (and tickets/trip expenses to gymnastic competitions, and so forth.) Interestingly, both of us spend rather less than we put into those accounts every month, so they also serve as emergency reserve funds, when, as and if.
Limited disposable income right now. However, if I see something I want AND we have the CASH for it, my wife (chief financial officer) will get it. It has actually worked out very well, I’ve gotten some nice stuff because I limit my purchases. Also, if I know there is something coming out that I really wnat, we’ll set money aside for it. Besides that, I have a little mad money that I use for smaller purchases such as details, paint, occasional car, etc.
Rick
I have a tendency to spend at least 110% of any available cash (after bills) on the hobby. Gonna have to review that soon. (This month I paid off $4200 of my Credit card balance. Unfortunately I spent $5900 on new “toys”. While this was mostly business expense including a new Hard Drive Recorder, new 16 channel mixer board, and some hard drives and other needed stuff (It seems my old ADAT and my old board decided to die at the same time), hobby stuff was still obtained (such as a new Radio Super Chief Starter set to add to my DCC system). Hey, It’s only money… Nice thing is I get to decide how to spend my money since I have been widowed for 18 years. Back in the days when I was married, we had two checkbooks. There was “ours” which she controlled. This was money from my job that paid for the mortgage, groceries, utilities, insurance, and other necessary stuff. And, there was her check book which was hers to use for all those nice things (new draperies, towels, clothing, nic-nacs, etc.) that all good homes need. I got to spend the money I made from teaching private guitar for anything I wanted. This would be stuff like gas for the car, my clothes, taking her out to dinner and what ever was left (usually in the minus category) could be spent on dumb stuff like toy trains… Funny, but I still liked those days better???
It’s nothing like tithing.
God owns everthing anyway, you are called to be a good steward over what you do own, and not to let your stuff own you.
I don’t have a set amount. It’s based on what I can afford after covering the necessities and what is available that I want. Frankly, after 15 years in S I have accumulated quite a bit and I have become selective in what I buy. I have enough kits and supplies to keep me going for years so I don’t need to buy anything.
But of course there is always something coming out that I would like and so I buy it.
Enjoy
Paul
I stand with cactusjawas.
I see it as being very careful to get just what you want or need at the time. My LHS’s are very supportive by either communicating early item announcements (So I might be able to reserve a copy months ahead of schedule and start saving) or using layaway to fini***he purchase.
I don’t have a set income. I’m still a teen with no job!![:D] When I need something, it becomes the piority on my list. I enjoy just collecting them and looking at them to. I try also to think ahead at what I will need.
God’s stuff, family stuff, household stuff, and (for me) way at the bottom is hobby stuff - probably .0001 % if I go on a spending spree… time of life is 3 kids in elementary school, therefore the world’s greatest hobby is a hobby, and very gradual when I find the time
I don’t have a set amount of money that I allocate for model railroading. Since I enjoy scratchbuilding, look for sales and bargains, try to use common materials, and am not interested in the latest releases, I save a lot of money. I find model railroading much cheaper than other hobbies or going to the neighborhood bar.
On the “Tithing”, I was just trying to inject a little humor into the topic.
I thought we were all independently wealthy on here so money was no object [:d]
Pay everthing else first then if there is any left…most of the time very little,but I think if I could go out and buy everthing I wanted it wouldn’t be so much fun in the long run…Cox 47
Ditto - except I have two kids in elementary school.
I’m not the person my LHS likes to see wander in because he KNOWS I’m just there to look (dream).