small workshop ideas #6: Tool Money for Frugal People 2018

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Blog entry by oldguy2 posted 12-30-2017 01:15 PM 1040 reads 1 time favorited 1 comment Add to Favorites Watch
« Part 5: HELP !! Look ahead to my next workshop Part 6 of small workshop ideas series Part 7: New one wall workshop ideas from part 5 »

Hi this is both my story and a plan for getting money in your pocket to shop for tools. Please do not tell me you make $50,000 or more and don’t have money. That’s part of my story and read on. Also part of Planning.
When I used to work ( I am at 65 self employed ,ha ha ) and commute and the car broke down ( before cell phones , hence the name Oldguy2 ) I had to wait for AAA and found I had little money on me for even coffee and snacks for the wait. That led to a home discussion of spending money for me since both of us worked and I wasn’t getting any budget money to carry,. That’s point number one… have this talk with who runs the budget. I call it my allowance. Don’t feel stupid. I was making $55,000 plus and not having $25 a week given to me for any expenses….sound familiar. So our family talk even with two kids came about to….I would get….it started here and has gone up and now it $220 a month. READ ON…. so that’s about $2400 a year. or $200 a month. Now the deal is I get my money once a month. Don’t ask for tool money, budget it, spend it , its yours. Yup LEARN. coffee, donuts, extras just for me. about $30 a week I planned then I made an extra envelope for extras like tools or splurges. I not talking pants and shoes. So I have envelopes per week, guard it, take it on Sunday and extra $ use on or don’t into the next week. Part 2 I set up a bank box in my Shop for Tool savings. with 2 envelopes. One as savings putting $5 a week in, you know that latte or coffee and donuts, try one less and put that 5 in. that’s 20 a month. Now envelope number 2 is to take and carry anytime to spend freely as you want to sales or stores or auctions, whatever you have the chance to buy for you. Return it and if you can put some extra cash into it. But envelope number 1 gets $5 a week. So potentially that’s 20 a month or 40 in 2 months…if you can do better go for it…but don’t whine if you don’t have money when spring or summer comes and ” I wanted to get that and I didn”t have some dough to spend….” Whose fault is that??? Sell a tool. into the bank box. Sell a project. money into the box. Extra from your new allowance….into the bank box for tools. You will feel so much better with $50 or $60 headed out to a sale instead of some $10 and whining ” I wish I had more dough to get that or I cannot charge it cause the wife won’t let me !!! ” Yeah right. Whose fault is that. !!! Time to learn and be your own tool money manager.

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5325 posts in 2131 days

#1 posted 12-30-2017 04:45 PM

This is a great life lesson thread!!!
One where I have a problem is going in to Harbor Freight [Home Depot] for some small thing and blow $50 on a bunch a not needed at the time tool accessories.
Spend it here and I won’t have it when that tool I really need comes a calling.

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