I see a lot of thread where people are over budget or are trying to stay within their budget.

I'm just wondering how they decide what's a reasonable budget.

I added up all my receipts the other day and wasn't angry at what i've spent in the last few months since owning the car... I'm a pretty reasonable person when it comes to spending money(cheapazz) so i know i'll eventually spend some but as long as it's over a period of time it's not as noticeable...

 

I just do things that need to be done when i can get them done.
Dont have a budget, dont really want to know how much i already spent!

LAst time i kinda checked i was around 5000$ in the first year of owning the car... (i did get it for free though)

 

Dispose of receipts monthly!

 

Budget?!? What is this "Budget"? What goes on in the garage, stays in the garage!!!

 

No budgets - ever. I view my 13 years of Corvette ownership as a hobby. Do guys that have boats set a budget? Many hobbies costs $$$ and the $$$ goes down the toilet. Our hobby maintains a value - may not be what we put into it but it has value.

Plus, I can't tell you how many times I changed my mind on what I was doing in the last 13 years!!!! Stock manifold - no, let's do the L-82 aluminum manifold. Of course, that was after the motor was built and in the car running!

Yep - no budget. This is for fun and fun cost $$$.

 

If you are someone that worries about money,then i would suggest you not own a c3. i dont say this to be mean, its a fact that these cars require alot of money,almost never ending.

 

I've owned mine for 27 years now. Lost track of how much I've spent though I'll bet my wife could tell me....

I spend what ever I feel comfortable spending on it each year. Probably why it's been 19 years since I started a frame-off. It's still not finished. I hesitate to call it a restoration since this wasn't my intent in the purest sense. Maybe resto mod.. I don't know if it will ever be "done".

As others say, it's a hobby.

 

SPEND IT TIL YOU CAN DRIVE IT!

Always make sure to pay the CC down to zero balance each month until the Vette hits the road, the last month of restoration, you can carry a balance because, you might just die in a crash if you didn't do your job properly

 

You can't be serious...

 

Why not?


I would just like to know how some of those with budgets actually make theirs.

Is it just based on what they have to spend from their revenue?
Is it based on a random price they think they should spend?
Is it based on a price they think they can get for the car when done?

Being young and without a permanent job I feel i'm one of those who should have a yearly budget. Although I'm not poor I do feel like spending too much on the car too fast isn't good for multiple reasons, which is why i asked the question how those with budgets decide... Too much to ask for???

 

B is for the ball joints that I need;
U is for the 6 universal joints I just replaced;
D is for the Dremel tool I bought to shave the door jamb;
G is for the gas tank I replaced.
E is for the Engine that's so shiny;
T is for the truth about how much is cost, and what the wife does not
need to know

 

Whenever I set out to fix or repair something I already kinda have it in my head about how much the cost is going to be so I don't worry too much about a budget. The way I look at it is it costs as much as it costs. The only thing on my mind is getting whatever that needs fixing fixed. I have a little saying that says "I'd rather pay too much for something and be totally satisfied than to under pay and not be happy.

With all of that grand-standing said, I do consult with the minister of finance just to make double sure that everyones' mentally prepared for what is about to transpire.

Whenever I get chincy I have a hot-rod buddy that always reminds me that I'm letting the money drive the project rather than letting the project drive the money. Lucky for him his wife loves speed and horsepower. Mine, not so much.

 

IMO, the only folks who 'budget' work on their Corvette are those that have 3rd parties (outside mechanics) doing the work for them. If you do the work yourself, you just buy what you need to get the job done.

 

I understand what something is going to cost and decide whether I think it will be worth it in the long run.

I keep every receipt and make notes on every dime I spend if I dont get a receipt, and I keep a spreadsheet on every car, for 2 reasons: 1. When you sell, you would owe capital gains tax if you sold a car for a lot more than you paid, if you could not prove you spent that extra money on the car, and 2. I definitely need to know if Im getting in the "way more than its worth" neighborhood.

 

I just tend to buy things that I need as I go. I still haven't added up everything.

 

Ok, you do know how to make us laugh! From my point of view, Budgets are for businesses! Well, perhaps for you household expenses as well. Once we get into hobbies or general interests we're driven more by disposable income. Cars are fairly inexpensive hobbies if you're doing the bulk of the work and only modestly more if you farm out bits of it.
I owned an airplane with a partner for 15+ years, which is a great way to spend money. Even at a 50% share of expenses that we couldn't do ourselves we'd probably spend $10K per year over direct operating costs. Did I go thru $150K over the years? Probably. Would I do it again? Absolutely. This expense was out of money that was excess to supporting my family and provided a wonderful form of relaxation as well as allowed me to make many new lifelong friends. Can't fly anymore but wouldn't change what I did for anything.

So it rolls thru my mind that Budgets are for Business and perhaps for basic support expenses but not for interests or hobbies. Spend it when you've got it without worrying about the costs. That's my story and I'm sticking to it!!!! (Don't tell my wife about this....)

Bob

 

The only thing that sorta' resembles a budget is I have most of my new parts shipped to my office addressd,...so my wife doesn't see them!!!

 

My classic cars are my hobby. I don't know of many men who have a "Golf Budget" or a "Fishing Budget". I consider my hobby as theropy that helps to keep me sain.

 

I am an ostrich when it comes to budgeting and being fiscally responsible.

 

When it's finished, it's finished.


Budget is equal to what funds are in the "toys" account....