How does everyone save for tools
#21
(03-05-2018, 01:46 PM)Bill Wilson Wrote: Sorry Arlin.  That information is classified.  If I told you, my wife would have to kill me.   
Uhoh

I thought that was cute. 
Yes

For me since the VA put my wife in charge of all my finances I can not have a Credit Card nor any bank accounts in my name and they do pull a credit check to make sure once a year.

So my money comes from me taking change from her and she does not know that some of the time.

For me I should have two saving piggy banks.  One for me and one for buying everything for the vets and almost all the time I take my saved $ to buy things for them.  I am thinking that needs to stop so I can buy a tool like a Grinder which I and they need to.

Yah I will do that.  Make two piggy banks.
Yes   and not rob mine again.
Yes
Yes   Good thing I am thinking while I am typing.  Just so she does not see this post.
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As of this time I am not teaching vets to turn. Also please do not send any items to me without prior notification.  Thank You Everyone.

It is always the right time, to do the right thing.
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#22
My trick is though I can afford a new tool is I don't buy new tools.  I now live so far from a big city, I have no way to buy big tools anymore.  That and my shop is out of room.

I rationalize my small tool purchases over the years by building my own home.  Since labor is $25/hr, carpenters are $45/hr plumbers/electricians $80/hr+.  Since I refuse to hire anyone I can rationalize $300/day (not that I spend that) in tools because I am the electrician, plumber, carpenter, laborer.  It's also why my house is not done and won't be for a year or two more.
A carpenter's house is never done.
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#23
(03-05-2018, 05:32 PM)Arlin Eastman Wrote: I thought that was cute. 
Yes

For me since the VA put my wife in charge of all my finances I can not have a Credit Card nor any bank accounts in my name and they do pull a credit check to make sure once a year.

So my money comes from me taking change from her and she does not know that some of the time.

For me I should have two saving piggy banks.  One for me and one for buying everything for the vets and almost all the time I take my saved $ to buy things for them.  I am thinking that needs to stop so I can buy a tool like a Grinder which I and they need to.

Yah I will do that.  Make two piggy banks.
Yes   and not rob mine again.
Yes
Yes   Good thing I am thinking while I am typing.  Just so she does not see this post.
Laugh
Laugh
Laugh
Laugh
Laugh

Think of all the tools we have today, and then I look back at what father and grandfather had which was very minimal, they both did a lot with very little. So ask yourself before buying that tool, do I really need it, how would I do it without it?
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#24
Every paycheck, I put some cash in savings.  I just let it build up until I decide I need something new.  I don't buy anything on credit.  Cash only.  I might order it with a credit card, but then I pay off the card as soon as the charge shows up.  I also have a 401k at work.  If I have company stock as part of my portfolio, I opt to get dividends as a disbursement, so that adds to the available cash for things.  I'm not spending nearly as much as i used to on the hobby, since I've pretty much accumulated all the tools I need.  And, I don't get nearly the amount of shop time I used to before I got remarried, so that tempers what I need.
Still Learning,

Allan Hill
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#25
I don't really have a budget. I do have a quite a few tools (not bragging). At this point it would be more replacements, and supplies and the replacements probably wouldn't be Festool. A lot of my tools were also purchase second hand. My wife has always been pretty good about me purchasing tools. Most of our furniture was made or refinished by me. So were our kitchen cabinets, and all the trim in the house. I can't say they have paid for themselves, but it has helped, and we have a nicer home than I would pay someone else to finish out. I also don't have hobbies, like fishing (boat), golfing that I spend money on-not judging people who do. I don't drink much, and am cheap with clothes, etc. I will pay for quality, but I expect to get good life out of it.
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#26
Years ago when I was adding tools I would incorporate the cost of a tool into a job I was doing.  For my situation that was a good way for me to fill my shop with nice tools that didn't cut into my day job income.
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#27
I stash all of the cash from side jobs. Luckily I am in a position that I do not need to do side jobs to pay the monthly bills. That stash is what helps pay for major shop purchases and was recently depleted to some degree- spending money for our vacation.

Luckily my wife understands and tolerated my addiction to saw dust so day to day shop stuff is not a problem

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#28
Several tricks...

All change goes in a huge five gallon jug.  We never touch it.  When we write a check/debit... we round up when we enter it in the checkbook.  Deposits are rounded down.  You'd be surprised how quickly your pad builds up.  When it hits 750, we put 500 in savings.  Been doing it for years.  I started it in the Corps.  I always kept an accurate track of the true balance, but the pad insured I was never overdrawn. 
Smirk
Jim in Okie
You can tell a lot about the character of a man -
By the way he treats those who can do nothing for him.
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#29
(03-05-2018, 01:08 PM)Arlin Eastman Wrote: Me I steal my wife's change and put it in my piggy bank and get about two dollars a month.  I have an allowance of $50 but since my shop was put up it is going to pay the bank for it.

So how do you guys do it?

You need more than one wife to get change from.
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#30
Two pronged strategy adopted for the last 20 years (before that, I was foolish with my money)-

- Buy the best I can afford so before the next best comes out, no more worries about buying any tool
- Sell the old tool before or after a new one is bought.

Simon
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