2005 Spending Survey

Stone193 · February 12, 2006 12:43AM

Please jump in with any comments you may have.

This is the first year that I will be working with an established budget. And I plan to stick to it.

Well, that's my story?

My goal is to enjoy more and spend less.

Carew29 · February 12, 2006 1:15AM

My Carew Master set is almost complete... but i will need about another $800 to do it with buying and grading still to be done. I am saving the Carew Rookie for the last Card as they are plentiful in 8's. Still waiting for PSA to cash another $320 down there this week. I am also sending another $250 in this upcoming saturday.

MuckyMutt · February 12, 2006 1:41AM

I spent too much. It seems like I either have not enough time or not enough money. Right now I'm without a regular job.

That should make me very frugal with extra spending - but I have too much time. And so I surf on Ebay. Bad idea! I never spend too much at one time, but I buy a LOT of lower priced items. I'm having a great time, but the constant worry of not having a regular income gets to me at times. Of course, when I'm working a regular job, it is so demanding that I have no time to enjoy myself or buy anything good. So I save the extra. The conflict comes now of how to proportion that savings between monthly expenses and making up for doing without when I was working.

Is there ever a happy medium - when one has enough time and enough money?

Stone193 · February 12, 2006 2:03AM

<< Is there ever a happy medium - when one has enough time and enough money? >>

Mucky

Sorry about your job...hope you land something really good!

The operative word - "enough" - do we ever have enough - under normal circumstances.

The operative word for me in 2006 - "optimal" - spend what I can truly afford and then I'm willing to bet that I enjoy myself more and not have regrets and the pain of my wife on my ass!!!

mike

Stone193 · February 12, 2006 2:12AM

I would really like to hear from the underspender and the just right guys - cause they hold the power of the universe in their hands!!!

yankeeno7 · February 12, 2006 3:35AM

The girlfriends kids are out of school so I dont have to spend any more money on them and she got a job now that they are out on their own. This will make the year a good one for my collection and investments!

So...I am one of the "underspenders" but not this year

softparade · February 12, 2006 3:46AM

Mike, somehow I was able to focus on my 1978 Topps set ONLY. Sure I strayed here and there and picked up some Civil War News cards and some 73 Topps but they were short lived spurts. Almost all of my spending goes into the 78 set and not venturing into other areas has kept my buying down. One only knows how easy it is to OVERSPEND when you start getting involved in multiple projects. Anyway, I sold off half of my Civil War News cards to help pay my way to almost completion in the 78 set as far as PSA 9's go. The 78 set is my all time favorite set and I have not lost one bit of interest like I have venturing into other areas where the "love" just isn't there.

Sooooo, I think I am in the "just right" slot

Stone193 · February 12, 2006 4:14AM

<< Mike, somehow I was able to focus on my 1978 Topps set ONLY. Sure I strayed here and there and picked up some Civil War News cards and some 73 Topps but they were short lived spurts. Almost all of my spending goes into the 78 set and not venturing into other areas has kept my buying down. One only knows how easy it is to OVERSPEND when you start getting involved in multiple projects. Anyway, I sold off half of my Civil War News cards to help pay my way to almost completion in the 78 set as far as PSA 9's go. The 78 set is my all time favorite set and I have not lost one bit of interest like I have venturing into other areas where the "love" just isn't there.

Sooooo, I think I am in the "just right" slot

>>

Dan
So you are saying that last year you spent - what you could truly afford and kept on budget (implied or real) for the entire year? Basing this on your income and other expenses. I'm no expert on spending but obviously for the average person, a hobby budget will have a realistic % of net income attached to it by an expert on money management.

Just curious. I definitely spent more than I realistically should have - no %, just an intuitive feeling. I'm affraid to add it up totally!!!

mike

larryallen73 · February 12, 2006 7:09AM

I definitely spent more than I realistically should have - no %, just an intuitive feeling. I'm affraid to add it up totally!!!

I agree 100%! 2006 is off to a bad start as I am spending more. Have to put the brakes on quick! Budget is blown!

softparade · February 12, 2006 7:11AM

Mike, while I have no idea how much I actually spent last year, I never used the credit card and all of the bills are paid. So, yes, what I did buy I was able to "afford"

Stone193 · February 12, 2006 9:10AM

<< Mike, while I have no idea how much I actually spent last year, I never used the credit card and all of the bills are paid. So, yes, what I did buy I was able to "afford" >>

Dan

We're friends and in no way am I directing this at you...

But, they project americans are saving less than ever! The Janpanese save like 20% of their income.

I think everyone knows where I'm going with this...

I definitely spent more than I should have - there are other things, like proper savings that should be in the budget equation.

If one talks to a personal money manager - I'll bet the equation for spending will put the fear of God in all of us!

And this is just a guess.

And finally, 70% overspent which if "appropriately" adjusted for what the book says is a good budget...I'm thinking more than that probably overspent last year.

But, we sure are having fun!
mike

gradeddream · February 12, 2006 9:12AM

i spent in the ball park of $30,000

Stone193 · February 12, 2006 9:20AM

<< i spent in the ball park of $30,000 >>

RipublicaninMass · February 12, 2006 9:34AM

Mike, the Japanese also have no mortgages. Beacuse all their houses are passed through the generations, not cause they are all made out of paper! The avergae mortgage here in Mass is about 34% of a personal total income. Not that they would save that, but "Figures can lie and liars can figure (configure)"

earlycalguy · February 12, 2006 9:44AM

Mike,

I know you don't look at cards as an investment (based on past comments). for some, buying cards is a way of 'saving' money. it's not cash but after 7 days of an ebay auction it can be turned back into cash. instead of getting 1.50% in the bank (plus paying taxes on that) you could make a few bucks or if not get at least close to your money back. for some cards are a way to diversify - savings or investing. for me it keeps me off the craps table on most nights (lot's of Indian reservations in Washington).

Joel

Stone193 · February 12, 2006 9:50AM

RM

I hear ya - and that house in Mass is an investment - house seem to appreciate nicely in the NE. But, ya still gotta save some and "balance" everything rationally with the hobby - that's all I'm saying.

I hope I'm not sounding like a stuffed shirt? Maybe this is enough about hobby budgets?

Joel

I hear ya too - I would only recommend that you consider good mutual funds, high rated bonds in that equation also.

Enough from "OLD MAN STONE" tonite.
mike

onlyanumber · February 12, 2006 9:57AM

Between packs (via Target/Wal-Mart), Ebay, and the unmentionable

Etopps, I spent $25,000...give or take a few hundred. Although, I was one of the rare few who made some money on Etopps and flipped a bunch of the Etopps cards.

jmbkb4 · February 12, 2006 10:07AM

I probably spent $25,000 last year, easy.

julen23 · February 12, 2006 12:42PM

$25k? $30k? Nice boys... if my wife knew I spent $25k on any hobby, she would figure out where all the money went for her breast implants!!!

I think I spent around $7000 last year, probaly more, but I deny any prior knowledge of anything that happened AFTER I joined these message boards.

Julen

halosfan · February 12, 2006 12:59PM

I spent more than normal in '05 but had unexpected income. I've dialed it back quite a bit to open this year. Now I'm just looking to complete a few unfinished graded sets and see what is in all of these white boxes. This year will definitely be a thinning -- or streamlining -- of the collection.

divecchia · February 12, 2006 12:59PM

I pretty much stay within my budget 99.9% of the time. Here's how I do it. I have what I call a fluctuating budget. I have a set amount direct deposited into my checking account to pay all the bills each week, leaving me with about $75 per week that goes into my card spending account. Now when I work overtime that increases how much goes into my card account. I always have the amount I need to pay my bills, that doesn't change, but the more overtime I work the more I'm allowed to spend. This way I can't overspend.

Donato

yawie99 · February 12, 2006 1:04PM

I just tallied the purchases of the graded baseball cards I bought in '05 and which are still a part of my collection: about $5,400. Throw in a few thousand on hockey cards and several hundred on grading fees and I guess I'm approaching $10,000. Of course, I also sold some stuff throughout the course of the year and came out pretty well on some of it, so I guess I'm looking at maybe a net of $5,000-6,000.

No doubt I could be saving some of it - fortunately I have a 403b since I lack the self-discipline to save/invest myself - or paying off our ungodly mortgage, but I feel like I've been buying generally blue-chip stuff that will allow me at least to recoup my expenses should circumstances force me to sell. Not only that, but I sold off a set earlier this year and did fairly well with it, so unless I just get insane with my buying (as I did this weekend), I should actually end up with a positive hobby balance for the year.

thesplendidsplinter · February 12, 2006 1:14PM

<< Mike,

I know you don't look at cards as an investment (based on past comments). for some, buying cards is a way of 'saving' money. it's not cash but after 7 days of an ebay auction it can be turned back into cash. instead of getting 1.50% in the bank (plus paying taxes on that) you could make a few bucks or if not get at least close to your money back. for some cards are a way to diversify - savings or investing. for me it keeps me off the craps table on most nights (lot's of Indian reservations in Washington).

Joel >>

Joel I totally agree with this. These thoughts are my logic for spending the way I do. Right or wrong, it is still how I see it. With my job contributing to my 401k, I get about 15% put into my 401k every paycheck. Buying my cards actually SAVES me money many times as I tend to stay home more & not throw away money that I will never see again. My cards are my 3rd savings account behind my house & 401k.
My plan is to not get rid of them but they are much easier to liquidate than my home or 401k. In the many years I have done this at the worst, I still come out even if I need to sell. At one time I had every Ted Williams cept for the Wilson Franks. Never thought I would get rid of them, alas, I have none now. Also had every Aaron in 8, only have the 65 & 67 now. Sold many to board members.
So collections come & go & cards are always there to be conquered again.

Do I spend too much? Probably, but I believe the hobby reduces my blood pressure & I am very calm when I am going through my collection. As to being peaceful, it definately contributes to it. My girlfriend believes I am much calmer now, she always knows where I am & believes it has helped us get closer as I truly enjoy it. These thoughts right here, you cannot put a price on. Not to mention the great contacts I have made here on this board.

I am rambling...

thesplendidsplinter · February 12, 2006 1:21PM

<< My Carew Master set is almost complete... but i will need about another $800 to do it with buying and grading still to be done. I am saving the Carew Rookie for the last Card as they are plentiful in 8's. Still waiting for PSA to cash another $320 down there this week. I am also sending another $250 in this upcoming saturday. >>

67 Carew in 8

Here is a nice priced one. Get it reholdered with the new holders & you got yourself a nice deal!

zef204 · February 12, 2006 1:21PM

Here's a shock. I spent too much.

Way too much unopened wax. I will not be doing that this year. I did however, only spend money I had from the sale of other cards. But the only reason I was able to do that was grossly over spending in 2001-2004.

This past year I really started to focus on only buying off of what I can sell and not miss, which fortunately is a lot of the stuff I bought in the previous years because I wasn't focused. I still am not focused but at least I am not spending money I am earning to get what I want. I also used the Paypal debit card to pay for a nice vacation so the gal doesn't really care that I buy some cards with the $$ from the sale of others because I was able to do something else with at least some of the money.

2005 Spending Survey

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