Knife budgeting

As has been said, only a fool would go into debt for a knife. Period. If you're in that sinking ship, get out and don't do it again. Pay your "stupid tax" and learn. I more or less follow Dave Ramsey (after making plenty of mistakes:D) . Have an emergency fund of $1000. Then pay off debt and try to build up that emergency fund significantly. If you've gotten your debt under control, as in paid off a lot of crap and are paying into a retirement fund, then treat yourself every now and then. A credit card is for emergency use, or use it then pay it off every single month. Paying a monthly finance charge for anything except a true need is insane. Debt makes bankers rich and keeps you in bondage (see end note).

I have seen way too many knives on different exchanges with, "my kid got sick/car broke/AC went out/got fired/etc... and I need quick cash". That's just dumb folks. I hate to sound judgmental, but we all need a wake up call sometimes. I splurged this Christmas and bought some blades: 4 Moras and 2 SAKs. I felt guilty about that even though they were smoken' deals.

When I found this place in 2010, I thought it must be filled with rich men. I learned that wasn't exactly the case. I watched more than a few members spending $100's every month, only to learn they were on disability! WTH? If this rant does nothing else, please evaluate your purchases carefully. There is no collapse coming. Even if there was, a $50 fixed blade/machete combo would do everything you NEED. Don't get caught in the marketing BS trap.

OP, The best system is to take care of all needs and debt first, then throw yourself a bone every now and then for being good with your money. Good luck.

Note: As an example of what debt/financing does, I originally had a 30 year mortgage on my home at 4.6% (which is historically a great rate). I refinanced to a 15 year at 3.25%. That simple change saved me over $110,000 over the life of the loan:)
 
I have a "prudent reserve" of approx $40k stashed away with Raymond James but I will probably be dipping into that in a few months. I'm starting a refinance myself. Once that's over with, I'll be buying a knee mill with DRO, a small lathe, and a proper 2x72 grinder. I have the perfect knife in my pocket right now. I own approx 15 knives. I'm good in that department. Time to move in the direction of making better knives. There's only so much one can do with a Dremel, drill press, and 1x42.

Should be about $10k to get things up and running.
 
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jdk1 said:
A credit card is for emergency use, or use it then pay it off every single month. Paying a monthly finance charge for anything except a true need is insane.
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I can see why that would make sense. Now if I was only sane...
 
My fiancé is smart. She has no problem with my liking knives and guns (hell she carries a Kershaw Shuffle and has gone shooting with me). Her smartness was a gift of a nylon knife case that holds exactly the same amount of folders that I own--10. So if I want a new one, I have to sell one. The exception will be after the wedding (in July) she will use some of the money we get to buy me a really nice knife of my choice. I'm thinking Sebenza, Strider, William Henry, etc. My problem right now--My current knives are either too beat up from use to sell or I like the knives too much to sell.
 
Because I mostly buy on-line , I pay by CC. Therefore I set an upper personal limit on myself so I don't go too far in debt.
I admit I surpassed it more than once though because deals were available at the time and I didn't want to miss out on them. I exercise much more self-control when paying with cash , but really it depends on how bad I want the knife.
 
I sell off all the stuff that I have accumulated over the years and no longer need. I then buy things that I convince myself I need(mostly knives)with that money. It's a continuous cycle of buying and selling but on a very small scale.
 
hiwa said:
Because I mostly buy on-line , I pay by CC. Therefore I set an upper personal limit on myself so I don't go too far in debt.
I admit I surpassed it more than once though because deals were available at the time and I didn't want to miss out on them. I exercise much more self-control when paying with cash , but really it depends on how bad I want the knife.
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I totally get it. When a maker is on a hot streak and the wait list is short, I am more likely to finance the purchase and pay it off over a short period of time. With low interest rates and a high time preference, it becomes worth the finance charge. But yes it is a slippery slope and it can be difficult at times to stay on top of it.
 
The easiest way to do it is to trim back on stuff one doesn't need, eating out everyday, going to clubs etc.

Then take that money that you aren't spending and save that.

Never go into debt to buy a knife.
 
jdk1 said:
A credit card is for emergency use, or use it then pay it off every single month. I splurged this Christmas and bought some blades: 4 Moras and 2 SAKs.
There is no collapse coming.
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He is correct...that one should stay away from paying interest on loans from knife purchases.
However, some tastes are different. Some of us buy Sebenzas instead of Moras, and cannot always pay cash.
BTW, there is a collapse coming, but nothing that a knife collection will help.
 
Ankerson said:
The easiest way to do it is to trim back on stuff one doesn't need, eating out everyday, going to clubs etc.

Then take that money that you aren't spending and save that.

Never go into debt to buy a knife.
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The cost of lap dances is high these days given inflation and such too. :p
 
flipe8 said:
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.
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That is a reasonable approach. Drive less and be able to spend more money on hobbies.

Even with the lower gasoline prices, I am still spending in excess of $300 a month on gasoline. A large chunk of that is business stuff, but it's still money and comes directly out of my account regardless.

I pretty much don't budget at all for knives. If I see something I like, I check my checking account and estimate what my next month's expenses will be. The excess is spendable immediately if I choose to. I use an envelope approach sometimes for "cash" at home and that has been useful for spontaneous purchases. Of late, my wife has been robbing the envelope, so there is no signficant fund there until I yank some money out of checking to place in it. I usually place cash payments from clients in the envelope. But most do no pay in cash.
 
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Sonnydaze said:
He is correct...that one should stay away from paying interest on loans from knife purchases.
However, some tastes are different. Some of us buy Sebenzas instead of Moras, and cannot always pay cash.
BTW, there is a collapse coming, but nothing that a knife collection will help.
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I understand;) I've hit the "bid" button on a few vintage khukuri and it was downright painful. Shipping from England can run over $35 by itself. Sometimes you gotta do what you gotta do. And, you have to live a little:)
 
ALL of my paycheck goes to bills that I NEED to pay every month and I'm left with ZERO dollars to buy knives or any other stuff I want, so therefore I'm only able to buy a new knife if I get extra work cutting down trees or other odd jobs.I'm just trying to survive living paycheck to paycheck :barf:
 
Woodcamo Nut said:
ALL of my paycheck goes to bills that I NEED to pay every month and I'm left with ZERO dollars to buy knives or any other stuff I want, so therefore I'm only able to buy a new knife if I get extra work cutting down trees or other odd jobs.I'm just trying to survive living paycheck to paycheck :barf:
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Be patient and get your life on track first. There will be plenty of knives available in the future. If you have no cushion in your budget, then forget about knives for awhile. Most people go their entire lives with a Walmart folder and Buck knife their father gave them. They don't realize how ill-equipped they are until the Internet points it out to them:D
 
Woodcamonut, I understand totally. I go through periods where I am living paycheck to paycheck. During those times, I restrict spending to essentials. Knives are not one of them. It is all about priorities. But my priorities are not your priorities. I have a friend who seldom has enough money to pay his bills predictably, but he will spend a couple thousand dollars for Christmas presents because that is one of his priorites. I don't agree with that, but we all have different priorities in life. I have observed that the wealthier folks seldom are extragavant in their gift buying relative to their income.

One has to keep a level head about spending money for hobbies. They move toward the end of the "priority list" for me.
 
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K.O.D. said:
My fiancé is smart. She has no problem with my liking knives and guns (hell she carries a Kershaw Shuffle and has gone shooting with me). Her smartness was a gift of a nylon knife case that holds exactly the same amount of folders that I own--10. So if I want a new one, I have to sell one. The exception will be after the wedding (in July) she will use some of the money we get to buy me a really nice knife of my choice. I'm thinking Sebenza, Strider, William Henry, etc. My problem right now--My current knives are either too beat up from use to sell or I like the knives too much to sell.
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Not everyone is concerned about "factory condition." All my knives, even the pretty ones, are users and have been sharpened. I'm happy to buy a used knife. Abused may be another story though.

Congrats on the wedding. I'm tying the knot in October myself. I think I may finally pull the trigger on a TA Davison as a treat for myself. We've already commissioned a pair of custom boots for her.
 
RevDevil said:
The cost of lap dances is high these days given inflation and such too. :p
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Wear sunglasses and carry a "blind" cane.(idk if they have a particular name or not) It may be morally wrong, but the lap dances come free and you might even get to touch!

PS: I'm not really that terrible, I have a blind buddy and strippers love him.
 
I'm a mechanic, and two of the three tool trucks that come by each week stock knives. One is a Kershaw/ZT dealer and the other is a Benchmade dealer. It's easy to pick one out and put it on truck credit that I pay out slowly but this has proven dangerous in the past. Also I end up paying somewhere between MAP and retail for this convenience. Practicing restraint must be done or I could easily run up a $1000 bill. Lately I keep a cash stash for the next knife I want. If I don't have the cash, I don't buy the knife.
 
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