Poll: Track Restoration Costs?

[Johnny Too Bad]

I was just wondering, as I was looking through my receipts this morning, whether anyone else is as anal retentive as I am when it comes to tracking the expenses associated with their boat restoration projects.

I thought it would be interesting to find out how many of us really know, or even want to know, how much we're dropping on this not-so-cheap hobby of ours.

How many of you:

1. Track every expenditure to the penny and know exactly how much you have tied up in your project

2. Have a general idea of how much you've spent by keeping a mental accounting of the major outlays (cost of boat, motor, paint, seats, etc), but conveniently forget all the 'little stuff' you've purchased over the years.

3. Don't know, don't care, don't want to know and especially don't want the wife to know

 

[lowkee]

Re: Poll: Track Restoration Costs?

I have very little idea how much I have spent. I could probably estimate to within $1,000, but that would still be suspect. I couldn't even list 1/2 the stuff I have bought for this project, let alone what it cost.

As for not wanting to know.. I just don't care. I knew boating is an expensive hobby and I'd likely waste the money on Pc crap or something else if I weren't doing my rebuild, so I don't mind spending it on a boat project. Of course, I would rather be spending my time fishing

 

[HopeSheFloats]

Re: Poll: Track Restoration Costs?

LOL your not alone, I keep all reciepts, although alot of misc stuff I use, comes from previous projects, left-overs etc. I've inherited a ton of family members nuts,bolts and screw collections over the years, have two family members and a neighbor in construction that are always dropping off some material scraps of one sort or another...hard to keep tabs or even put a pricetag on things like that.

I know totals{$} will over-ride final true value, but still like to look back for future references on any project.

 

[Johnny Too Bad]

Re: Poll: Track Restoration Costs?

I hear ya, lowkee. I figure that any money that I spend on the boat is money I'm not spending in a bar or some other useless endeavor. Besides, I look at it as an investment in my family.

I spent countless hours of quality time with my family, growing up, in our '76 Glastron. As a matter of fact, the seven hours I spent on the lake last Saturday fishing with my wife and daughter were priceless.

I still track every expense, because that's what I do. I don't know why.

 

[allpoints360]

Re: Poll: Track Restoration Costs?

I keep up with supply costs in round numbers, but I don't count my time. So at the end of a project, I usually say "biting my tongue" that I broke even.

But to soften the blow, I rationalize that I gained experience and maybe a specialty tool or two.

Who said a boat is a hole in the water into which one pours money? Mine are holes in the yard! Ha!

 

[tlovelandka]

Re: Poll: Track Restoration Costs?

I try and keep receipts, but you know how they can disappear... So in reality I just keep a tab running in my head of all the $ invested. It's worth it though!

 

[Lightnig]

Re: Poll: Track Restoration Costs?

sort of a cross between options b and c (for the record, I voted c as this is closer to my attitude about the project).

No, I am not tracking my receipts, and certainly not accounting what I am spending on it. It needs what it needs, so that's what I am buying, but I can't help keep a rough running total in my head - I guess that's what I get for working at a bank.

 

[Numlaar]

Re: Poll: Track Restoration Costs?

I guess I am super anal about almost everything I do, and my restore project is one of them...

I have a folder where ALL there receipts go.. this folder is kept in a file for the boat itself, along with the other pertinent paperwork...

I keep every receipt, especially for the big stuff, but even for like chip brushes, sandpaper, etc. (the little stuff)..

If I happen to have bought stuff for more than one project, I will make photo copies of the receipt, then highlight the items for the project it goes with, then put it in its proper folder...

hehe I guess I am really over the top LOL

But as for knowing what I have into the restore, I can say hands down, YES, and I should have just bought another boat LOL

Oh well, Live and learn!

 

[Rickairmedic]

Re: Poll: Track Restoration Costs?

LOL I voted option C . I haave several not so chep hobbies , Metal fabrication, Classic Cars and trucks , home built recumbant bikes and lets not forget the really expensive projects 3 teenagers . SWMBO has no idea how much I blow on all these toys and as long as the bills are paid and theres money in the emergency fund and she has money to play with I dont really think she much cares as long as I am out here in the shop and not down the road at Trixies spending it $5.00 at a time .


Rick

 

[redeye1962]

Re: Poll: Track Restoration Costs?

I keep telling myself I am almost done and I will not have to spend this again for a very long time..............right.

 

[bigredinohio]

Re: Poll: Track Restoration Costs?

I save all my receipts for the boat but exclude the cost of new tools. I start out anal and try to keep a budget until I surpass the limit then I just don't care. Kind of like deadlines around here if you know what I mean!

 

[Lion hunter]

Re: Poll: Track Restoration Costs?

I don't track to the penny but I keep pretty close tabs on it. In fact this forum makes it easy. I just keep adding up the cost as I update the restore, and they keep adding up. I've come to realize over the years that it's not the big ticket items you remember that break you. Its the little run to the store for more screws, paint, vinyl ect. That stuff adds up quick. I don't count stuff I already had on hand that I was able to use. I think I'm within $50.00 of actual costs on my restore.

 

[78ImperialT]

Re: Poll: Track Restoration Costs?

LOL I voted option C . I haave several not so chep hobbies , Metal fabrication, Classic Cars and trucks , home built recumbant bikes and lets not forget the really expensive projects 3 teenagers . SWMBO has no idea how much I blow on all these toys and as long as the bills are paid and theres money in the emergency fund and she has money to play with I dont really think she much cares as long as I am out here in the shop and not down the road at Trixies spending it $5.00 at a time .


Rick

...you have a trixies too!

im a retail business owner. keeping receipts and a penny for penny tab is what keeps me afloat (no pun intended).

 

[wrfalpacas]

Re: Poll: Track Restoration Costs?

I have saved all the receipts, but havent had the cojones to add it all up yet SWMBO has no idea how bad it really is

 

[Rickairmedic]

Re: Poll: Track Restoration Costs?

...you have a trixies too!

im a retail business owner. keeping receipts and a penny for penny tab is what keeps me afloat (no pun intended).

LOL Imperial its funny you say that . I own a business as well and track every little red cent with the business but with the hobbies the only thing I keep track of is the play money account is running low and I need to refill it .


Rick

 

[78ImperialT]

Re: Poll: Track Restoration Costs?

sometimes i wish i could do that. i actually tried it...you know...just spend the money and dont worry about how much.

HA...i was so stressed thinking about what i spent that i couldnt enjoy what i spent the money on. i guess its just in my blood now. i have to keep up with the numbers.

my wife gets mad when i ask how much she spent when she gets back from shopping. i tell her...i dont really care how much you spent...i just need to know the number. i can almost always tell you how much money i have on me at any given time, my wife...lol...she couldnt tell you where the money she has on her is at much less how much is there. lololol

 

[Andy in NY]

Re: Poll: Track Restoration Costs?

I sort of kept track of mine mentally. I sold my MFG Gypsy to finance my latest project, so once i sold it i kept the cash in an envelope. when i needed to buy something, i took the money from there. once it ran out i spent maybe 100-200 bucks from my pocket.

but heres the catch. a few times i bought beer for helpers, soda, lunch, etc from my boat money. so i esentially came out even in terms of what i spent out of pocket (excluding the purchase price of the boat).

 

[Rickairmedic]

Re: Poll: Track Restoration Costs?

sometimes i wish i could do that. i actually tried it...you know...just spend the money and dont worry about how much.

HA...i was so stressed thinking about what i spent that i couldnt enjoy what i spent the money on. i guess its just in my blood now. i have to keep up with the numbers.

my wife gets mad when i ask how much she spent when she gets back from shopping. i tell her...i dont really care how much you spent...i just need to know the number. i can almost always tell you how much money i have on me at any given time, my wife...lol...she couldnt tell you where the money she has on her is at much less how much is there. lololol

( Toy Money ) is kept seperate from the house account and the savings . The only reason the savings gets touched is if for some reason the house ccount runs short . I dont take from the house account or savings for toys . I put a percentage of income into the toy account and when it runs dry I need to work harder to replenish it . The reverse can work though as I will take toy money to pay house bills if needed before touching savings .


Rick

 

[D.spencer]

Re: Poll: Track Restoration Costs?

I do have all the receipts somewhere- I hardly throw those away. but as far as totalling them up....hmmmm......maybee I should and maybee I shouldn't. On on hand it would be good to know the running cost but on the other hand it would be bad to know the cost because I might want to cut corners and the project suffer for it. Ignorance is bliss......

 

[bananaboater]

Re: Poll: Track Restoration Costs?

Guilty of anal retentive actions when it comes to keeping receipts for my boat. I have a large envelop where I toss the receipts. Eventually I will try to tally the total..........but maybe I don't want to know.

For the next owner it might be a trail of what was done with what process/product and when. Could be helpful.