Knife budgeting

CapitalizedLiving

CapitalizedLiving

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I know there have been a lot of threads about how many knives people have and how much they are willing to spend. But what I'm curious to know is how you all budget for your knife purchases. Do you save up or put them on credit and pay it off over time? Do you budget per paycheck, per month, per year...? Do you make a list and stick to it, or do you make a lot of impulse buys?

It's clear that many people just buy whatever they want and sell whatever they don't, but I was wondering if anyone has strategies or more formal decision making in place. I'm actually looking for ideas here, so please elaborate, and thank you all for your responses!
 
Several years ago, I set up my direct deposit paycheck to be split out. I send $30 from every paycheck directly into a savings account. This money accumulates, and when I see something I want, I cover it with the money in there.

I have also set up my checking account to round up every purchase to the nearest whole dollar, and deposit the difference into that savings account (B of A does this for you).

This is my official budget. My special booze (Scotch Whisky), cigars, knives, and whatever unique non-essential item I desire (camping, fishing, etc.) comes out of this.

Unfortunately, I tied my Paypal account to a Paypal credit card last year. This allowed me to go beyond what was immediately available in cash. I now use my savings account to pay the payments on the credit card. It still works out, but I'm now in debt, which was not my goal. Luckily, I don't ask for them to raise the rather low limit. I have about $1K available, just in case something comes up that I "Have to have!"

This has, more or less, kept me from over-spending. I used to hide Credit Card purchases, when I was much less mature, and had fewer responsibilities. These days, I'm much better in control of my addiction to knives, and knowing what I like helps quite a bit, as well.

Of course, this is all based on being on a tight budget to begin with. I have 4 children, my wife doesn't work, and I own a house. This keeps my money pretty tight. If I was independently wealthy, all bets would be off, and I'd get whatever caught my fancy.
 
Wow, Daniel! Thank you, that was an excellent response.

I personally set an annual budget and usually put in custom orders up to that amount. That keeps me off the open market while allowing me to still buy new stuff. My intention was to save up that annual amount in a savings account and when I make new purchases to transfer funds to a CC or to Paypal for the purchase. I already am over my head in 2015 because one maker made everything I ordered all at once, when I was expecting them to roll out over the year. So now I am using the money I'd have saved to pay for the CC bill.
 
I have set amounts/percentages that I use for bills, savings and investments. I also include a certain leeway to account for lower/higher gas prices and usage, the occasional visit to a restaurant, etc. After that, there's money that I put away to spend on time with Girlfriend. Only once I hit all those do I look at what's left as disposable income. Sometimes I let it pile up and blow it on a getaway, other times I might buy a knife or toy.
 
You mean that you adhere to a budget?

You're not one of those that pushes a shopping kart filled with knives & guns and holds up a sign that say's.

Will work for knives & Ammo.;)
 
What I do is gradually add stuff to my amazon shopping cart(not just knives, stuff like water filters, trauma supplies and the like), and save up enough cash until I can buy most, if not all of it.
 
Rhinoknives1 said:
You mean that you adhere to a budget?

You're not one of those that pushes a shopping kart filled with knives & guns and holds up a sign that say's.

Will work for knives & Ammo.;)
Click to expand...

I used to be that guy, but recently I found myself wanting far more specific things than in the past. With impulse buys out of the picture, I was able to not only get exactly what I want but spend less money and in a more controlled manner. I think some people refer to this as "growing up" but I'm not so sure that has anything to do with it.
 
I use the parental controls on my browsers. It saves me even more money than not playing the lottery.
 
I have a list, but will buy to give or trade if price is right.
I also have a 1 gallon change jar.
My wife usually gets me a nice one or two for Christmas, also.
With 5 kids from 1 to 17, I am blessed.
 
Jody744 said:
I have a list, but will buy to give or trade if price is right.
I also have a 1 gallon change jar.
My wife usually gets me a nice one or two for Christmas, also.
With 5 kids from 1 to 17, I am blessed.
Click to expand...

And I thought Jarbenzas were mythical.
 
I budget $60/week for fuel. If I spend more, so be it. If I spend less, that amount gets transferred to my paypal. That money is only for knives. Gas prices going down means mo money.
 
CapitalizedLiving said:
Do you save up or put them on credit and pay it off over time? Do you budget per paycheck, per month, per year...? Do you make a list and stick to it, or do you make a lot of impulse buys?
Click to expand...

Please for the love of God...do not go into debt to pay for knives. If you need a credit card to pay for the knife and can't pay it off that month YOU DO NOT NEED THE KNIFE.

Now that my rant is over lol. I usually sell 1 to buy 1 but sometimes my extra comission earnings becomes "play" money.
 
Great question! I've got spreadsheets for everything, but I don't strictly budget my knife purchases. However....

First, I try to remember that this is a hobby. I certainly don't need one more knife, so unless I'm consistently meeting every single one of my other obligations and goals--and have cash to spare after that--why would I buy another knife? It's supposed to be fun, and going into debt isn't fun.

Second, for the most part, I try to buy "carefully"...What does this knife have that I don't already have? Is there something unique about it, or is it just the same knife with an interesting handle? (I'm looking at you, high-priced Chaparrals that continue to tempt me!!) How often do I carry/use the similar ones I already have?

Finally, I try to remember that one more knife won't save me from the zombie apocalypse, improve my IQ, get me promoted at work, make my wife happy, clean my cat's litter boxes or send Jennifer Garner--in her underwear--to my doorstep with a 6-pack of good beer. One more knife cuts just as well as all the knives I have already. :p
 
There was a pretty interesting discussion on this very topic not long ago, I cannot seem to find it. Many people commented on what they do, some have tons of money, some forgo the Starbucks, or pack their lunch rather than eating out every day, some skip other purchases, drink cheaper beer, stop smoking, etc. It's not tough to save enough money, provided you are spending on other nonessential items, a little discipline goes a long way.
 
I went nuts for several yrs, and bought everything I wanted. Sold off a previous hobby to pay for most of it, but also racked up some debts that I mostly managed to pay off each month. I did get hit with some high interest payments for a while and that certainly shows a high index of stupidity.
However, I got past that sort of stuff...or maybe I just managed to buy and then sell everything I had wanted, or had heard of. 99% of the knives that I purchased were NIB or as-new...and never carried by me before I sold them again. I had a small collection of Spyderco PM2's and Military models for a while, but sold those off also. I love the Spyderco Sage 2 with titanium slabs, and recently realized that I had four of them, NIB, and never did carry one. I did take one out of the box and opened it occasionally...just to marvel at it. Sold them also. I love those things, although I prefer a slightly longer blade-length than three inches.
Anyway, I had fun. I carry one particular folder now...a good one...and have a couple more, but sold the rest. Bills are paid; I even have fifty bucks or so in my checking acct. I still peruse the Exchange, but I rarely jump and say "I'll take it" any more.
It is getting a bit boring now, as I'm not hyped up any more the way I used to be. The adrenaline rush seems to have depleted itself. I was pretty obsessive and irrational for a while...perhaps I'm in recovery.
 
I have decided to forego the purchase of 2 balisongs that are coming out soon. I don't need to go into debt $1k for 2 knives I can't legally carry. I have 2 projects that are partially paid and I'm not going to add to that. I sold a Rolex Submariner last year to buy a DDR custom and start a Reese Weiland folder project. I have sold off all the knives that I won't use/carry. When one has refined/discriminating tastes, purchases become fewer but also more expensive.
 
Many of these responses sound very familiar. I am getting to the point of saturation. For me, there is just not much I want anymore. I have hit the plateau with production knives. I really think the ZT562cf was the last production I will buy for a while ( yes, it's that good).

Customs have become more my thing now. That is easier for me. I just simply won't pay over a certain amount for a knife. It makes it easier. I look, I see $2000, and I go "that's insane", and close the thread.

Maybe I too am in recovery. :-)
 
I have a dedicated credit card that I keep secured. Not only for knives, but hobbies in general.

I opened a savings account that I put a small percentage of each paycheck into. In that account I maintain a certain balance. Any overage I treat as a slush fund for my hobby purchases. Those purchases go on the credit card and the payments for the card come out of the savings account. This way, at any given time the card can be paid off if necessary, but for the most part shows a maintained, revolving balance.

That said, occasionally I have made an impulse buy or taken advantage of a deal and had to work some overtime to get back into the black.
 
Of course I have a budget and it is current set to the very last dime. Really now, is there any point in getting so anal about this? Just spend in moderation and try to balance your hobby with your real life needs.

n2s
 
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