Anybody find it difficult not to buy tools?

[tbirkey214]

Im supposed to be saving for a house but God dang it's hard to pass up a good deal. Even worse is I started flipping machinery and im starting to keep most of it. I figure eventually I'll have it all and everything will work out but how are yall convincing yourself it's the right way to be?

 

[Shiftless]

In most areas, house prices are going up. Current owners enjoy the benefits of rising prices when they finally sell. Assuming your job is stable and you can afford the monthly principal, interest, taxes, insurance and upkeep, the sooner you can get to enjoy those benefits. Keep flipping machinery to resell at a profit to help accumulate a down payment.

 

[ozyborn]

I actually have all the tools I will ever need. But if a too good of a deal shows up at an auction, estate sale, etc. Greedy black duck. Mine,mine,mine

 

[dcg9381]

Current owners enjoy the benefits of rising prices when they finally sell.

Here prices peaked about 3 years ago when we had sub 3% interest rates. Now interest rates are at 6-7%. So a lot of people can't afford [current house price] and the trajectory of prices has been down over the last 2 years. That doesn't include the 8% hit that you're going to take on a market sale (RE commissions and title insurance).

Real estate is generally a good investment over decades, but it's not a sure thing. Never mind being in a "property tax" state.

Keep flipping machinery to resell at a profit to help accumulate a down payment.

This all day long. If you can flip it while getting use out of it, double down. But eventually, you'll run into the "collection problem" of you're going to spend all your time maintaining this stuff, let alone storing it... And you won't have that much time to use it as you're fixing it all the time.

Wife wants me to buy a bucket lift. I do need one and I'd use it. But I wouldn't use it enough to justify the cash outlay, the maintenance on batteries, etc. Way better to rent it.

Best of both would be if you can buy cheap, rent them out, and resell 'em... But that sounds like a business, so no time to use those toys.

 

[eviltwin]

You will definitely save money by not coming on garage journal!

 

[JuncleJohn]

What’s more difficult is moving all the tools that you’ve collected. Get yourself a big garage with a detached (or attached) house.

John

 

[Shiftless]

You will definitely save money by not coming on garage journal!

 

[zendriver]

If I was wanting to buy a house, I wouldn’t be buying all the things I could be mostly living without

That whole “poor people with iPhones” saying we can’t stop obsessing about

 

[finn]

You’re never going to afford a house if you prioritize so called good deals over saving for a house, especially if you’re buying tools and machinery you don’t have an immediate need for. Simply put, it’s not a good deal if you don’t need it.

Open a separate account for a house down payment, and nothing else. Add to it every pay period, and every time you see a good deal for something you don’t need immediately, put that money in the account instead of buying more junk and clutter.

You need to prioritize self discipline

 

[BlakeTheCarGuy]

I find it extremely difficult to not buy anything when there are so many things I enjoy and if I find something on sale I’m getting it. I’m a eBay seller on the side so most of the stuff if I’m not going to use it I sell it on eBay. I was raised this way and it’s a hard habit to break.

 

[mike93lx]

Spending control is a problem for many. Convincing yourself that there are so many "good deals" out there will just keep the problem alive, along with not getting a house and likely credit card or other debt.

Most "good deals" can be had at a later date. There is always used equipment available and sales on new stuff

 

[Bert_]

Don't buy it unless you need it. It's really simple. Sometimes even if you "need" it for a single job you can make do with something you already have.

You have to decide what your priorities are.

I've got a spending problem too. Sometimes I won't spend it even when I should!

 

[niget2002]

Only two tools I'm missing are a metal bandsaw and a metal lathe.

I'd like a shaper and grinder, but don't really need those.

I have parts to build a CNC and a plasme torch would be nice too.

But besides all that, my hand tools are pretty decently stocked. I'm down to only buying something if I need it for a specific job.

 

[rmack898]

Greedy black duck. Mine,mine,mine

That made me spit my coffee out laughing.
Though 90% on this forum probably don’t get it.

 

[3baygarage]

No. No problem here. Well maybe a one

 

[Steve W.]

Don't buy it unless you need it. It's really simple. Sometimes even if you "need" it for a single job you can make do with something you already have.

But besides all that, my hand tools are pretty decently stocked. I'm down to only buying something if I need it for a specific job.

To me, "tools" are things that are necessary to do a job. Sure, I have quite a few tools that I don't use often, but I did not get them until I needed them the first time. Just buying tools to have around "just so I can do *** job if it ever shows up" does not make sense to me. Too much money spent, storage space is at a premium.

.

 

[mike93lx]

That made me spit my coffee out laughing.
Though 90% on this forum probably don’t get it.

90% of this forum thinks his beak is Grey and not orange...

 

[cgrutt]

That made me spit my coffee out laughing.
Though 90% on this forum probably don’t get it.

Hmm, I knew I should have taken that left turn at Albuquerque...

 

[cgrutt]

90% of this forum thinks his beak is Grey and not orange...

When the tubes worked.

 

[tbirkey214]

Here prices peaked about 3 years ago when we had sub 3% interest rates. Now interest rates are at 6-7%. So a lot of people can't afford [current house price] and the trajectory of prices has been down over the last 2 years. That doesn't include the 8% hit that you're going to take on a market sale (RE commissions and title insurance).

Real estate is generally a good investment over decades, but it's not a sure thing. Never mind being in a "property tax" state.


This all day long. If you can flip it while getting use out of it, double down. But eventually, you'll run into the "collection problem" of you're going to spend all your time maintaining this stuff, let alone storing it... And you won't have that much time to use it as you're fixing it all the time.

Wife wants me to buy a bucket lift. I do need one and I'd use it. But I wouldn't use it enough to justify the cash outlay, the maintenance on batteries, etc. Way better to rent it.

Best of both would be if you can buy cheap, rent them out, and resell 'em... But that sounds like a business, so no time to use those toys.

My 20x20 garage is so packed I put up a wedding/venue tent in the back for the otherbwtuff lol. Keep hearing the house market will crash or go up depending on who im talking to. They builds houses like crazy out here

 

[mike93lx]

My 20x20 garage is so packed I put up a wedding/venue tent in the back for the otherbwtuff lol. Keep hearing the house market will crash or go up depending on who im talking to. They builds houses like crazy out here

That's because no one actually knows.

Stop letting stuff dominate your life. If you want to own a own, prioritize that

 

[tbirkey214]

If I was wanting to buy a house, I wouldn’t be buying all the things I could be mostly living without

That whole “poor people with iPhones” saying we can’t stop obsessing about

House is some plants and mattress on the floor. Garage plus tent in the back is tools galore

 

[tbirkey214]

You’re never going to afford a house if you prioritize so called good deals over saving for a house, especially if you’re buying tools and machinery you don’t have an immediate need for. Simply put, it’s not a good deal if you don’t need it.

Open a separate account for a house down payment, and nothing else. Add to it every pay period, and every time you see a good deal for something you don’t need immediately, put that money in the account instead of buying more junk and clutter.

You need to prioritize self discipline

Whoah now, that's not the advice im looking for

 

[tbirkey214]

Only two tools I'm missing are a metal bandsaw and a metal lathe.

I'd like a shaper and grinder, but don't really need those.

I have parts to build a CNC and a plasme torch would be nice too.

But besides all that, my hand tools are pretty decently stocked. I'm down to only buying something if I need it for a specific job.

Ive been wanting a lathe for 10 years and the only way I just recently got mine was by trading a tool I had zero intentions of using and bought solely for trading. Now I have an atlas/craftsman 12×36 that only cost me around 100 bucks(what i paid for the machine i traded for).

 

[Notgrownup]

I have that problem. I sell something first to buy something else. Like my tables saw, sold a folding One I had to help pay for a good deal . I force myself not to buy useless stuff yet it follows me home consta.

 

[bonneyman]

Don't buy it unless you need it. It's really simple. Sometimes even if you "need" it for a single job you can make do with something you already have.

You have to decide what your priorities are.

I've got a spending problem too. Sometimes I won't spend it even when I should!

Yeah, my wife is an accountant....and she stretches a dollar so far the Washington coughs!

 

[OccupantRJ]

That made me spit my coffee out laughing.
Though 90% on this forum probably don’t get it.

Love it!

 

[OneEyedMan]

If I was wanting to buy a house, I wouldn’t be buying all the things I could be mostly living without

That whole “poor people with iPhones” saying we can’t stop obsessing about

We are at a unique juncture in America. I’m at ground zero working for an asset heavy family business. Hard assets are all but unattainable for the money I generate every year. I could probably service payments for less than a tenth of the value of our farm and that would be with zero down payment.

On the consumer side, we’re awash with ****. Every item that used to be a hard fought luxury is now available at budget prices new and screaming deals used. $180 SO ratchet is crazy but a family of five can’t get a fast food meal for less than $50.

The relationship with how much revenue we can generate vs what it takes to “get ahead” makes it easy to feel like the deals we find are improving our lives.

 

[bdbecker]

I suspect it's the thrill of the chase more than the actual item that gives you pleasure. Be careful. That's a tough pattern to break because that behavior has a lot of crossover with gambling addiction. It seems fun to joke about on a forum full of tool hounds, but it has real world consequences if left unchecked (my Uncle had to file for bankruptcy and divorced his first wife because she couldn't control her purchasing habits).

Just because it's a good deal doesn't mean you need to buy it. You are not saving money by purchasing it at a discount - $100 spent is still $100 you no longer have in your account. If you flipping tools and equipment as a side hustle for some additional income, that's fine. However, you stated that have started to keep things you originally intended to sell, which conflicts with your other goal of purchasing a house.

If you really want a house, step one is setting up a budget for yourself. Step two is sticking to it, which is often easier said than done. Give yourself a little bit of fun money to play around with tools if you can, but if you are serious about getting a house, you should be setting aside a healthy portion of your excess income for a down payment.

To be clear, I'm not claiming to be perfect in this regard - I've definitely made my fair share of unnecessary purchases over the years and enjoy the hunt as much as anyone. However, it is a lot more enjoyable to make those purchases when you know you have your ducks in a row financially.

 

[Steel_Rain]

I suspect it's the thrill of the chase more than the actual item that gives you pleasure. Be careful. That's a tough pattern to break because that behavior has a lot of crossover with gambling addiction. It seems fun to joke about on a forum full of tool hounds, but it has real world consequences if left unchecked (my Uncle had to file for bankruptcy and divorced his first wife because she couldn't control her purchasing habits).

Just because it's a good deal doesn't mean you need to buy it. You are not saving money by purchasing it at a discount - $100 spent is still $100 you no longer have in your account. If you flipping tools and equipment as a side hustle for some additional income, that's fine. However, you stated that have started to keep things you originally intended to sell, which conflicts with your other goal of purchasing a house.

If you really want a house, step one is setting up a budget for yourself. Step two is sticking to it, which is often easier said than done. Give yourself a little bit of fun money to play around with tools if you can, but if you are serious about getting a house, you should be setting aside a healthy portion of your excess income for a down payment.

To be clear, I'm not claiming to be perfect in this regard - I've definitely made my fair share of unnecessary purchases over the years and enjoy the hunt as much as anyone. However, it is a lot more enjoyable to make those purchases when you know you have your ducks in a row financially.

Well said.

As an example, I'm considering buying the 3 new M12 Milwaukee ratchets that were just released. I already have 3 other ratchets, but I'm selling them to "upgrade". I don't need them, I want them. A buddy is going to buy all 3 for $500, but the new ones will cost me $700, so I'm still out $200 bucks.

That's a losing bet, but I can afford it without dipping into savings or having it alter my ability to support my family. That said, it's $200 LESS in my pocket and is the extra 5-10 minutes a day this will offer me worth it over the long term?

Maybe.

 

[milkovich]

I suspect it's the thrill of the chase more than the actual item that gives you pleasure. Be careful. That's a tough pattern to break because that behavior has a lot of crossover with gambling addiction.

This is what I suffer from. I try mange it by "collecting" small, low value, but rare stuff. Specifically chisels and spark plug gap gauges. $20-$30 here and there and they don't take up much room. The other trap is the endorphins from an awesome deal outweigh the endorphins of selling an item. You always remember the huge scores and epic flips, but forget the ones you lose money on or are still collecting dust in the rafters/basement. You have to write it all down so you have a realistic picture of how much your "collecting" is costing you.

If you're saving for a house, that should be the #1 priority.

 

[zktk01]

Im supposed to be saving for a house but God dang it's hard to pass up a good deal. Even worse is I started flipping machinery and im starting to keep most of it. I figure eventually I'll have it all and everything will work out but how are yall convincing yourself it's the right way to be?

I finally quit scouring ebay for deals, I ended up spending to much money hunting for deals buying things i didn't need. I am trying to replace that habit of buying a tool on sale with buying a share of stock like XOM, it will even pay you back.

 

[NoahG]

I spend less when I don’t go looking for stuff to buy. It helps to have other hobbies that will draw your attention away from “looking for tools”.

Also once you do get that house, house projects will demand all the time and budget you used to spend on tools. Not much left for a 3rd impact set when you just dropped several thousand on plywood and romex.

 

[ecotec]

I slowed down when I hit a saturation point.

My drawers were overfilled. I emptied out all of the lesser brands and the majority of the imports and they were still full.

At this point, it has to be cheap Snap-on or at least better than I already have to even turn my head.

While I still have a list of tools that I am looking for, they are getting more obscure.

I still “need” a shallow 3/8” drive 6mm impact socket for my cart. I have one in my main metric drawer… along with about 30-40 other 6mm sockets.

Having a ridiculous amount of the majority of the common tools, along with my age, has taken away my urgency to acquire tools.

If I really need something to finish a job, I would definitely buy what I needed… but it has been a long time since I have needed to do that.

I have said it a ton of times on this website, but the earlier you get very picky the better your overall collection of tools will be.

Tools are cheaper in areas with a large amount of manufacturing… so what you can get in your area, for a given amount of money, can vary to a huge degree. I find the best value in middle class suburbs of industrial cities. Just driving a little bit past the x-burbs of the same cities can cause the condition of the tools to go down and the prices to go up.

 

[WildBill]

90% of this forum thinks his beak is Grey and not orange...

It was purple after I put that big **** speaker magnet against the TV when I was 6.

 

[Bodj Built]

I actually have all the tools I will ever need. But if a too good of a deal shows up at an auction, estate sale, etc. Greedy black duck. Mine,mine,mine

I'm strangely at that point in my life as well. The wife will send me postings she finds for tools on FB Marketplace and I routinely turn them down, as I either have them or don't need them. What I've got is dang near making the 3 car garage burst at the seams, making working on things more of a chore as I'm stepping over tools/parts, or have to constantly shuffle things around to get access to other things. If we ever move and I get a bigger garage or a proper shop, I think the only things I'd really need are a lift, a proper lathe, and a mill, as my benchtop 2-in-1 unit is limiting

 

[zendriver]

House is some plants and mattress on the floor. Garage plus tent in the back is tools galore

Sounds like you'd rather have a bunch of stuff, verses a house.

Having both does not sound like an option, for you.

Go for the stuff.

 

[jack stand]

Rent payments don't get you ****!
Mortgage payments is the start of your adulthood.

 

[Kurt4440]

My tool purchasing philosophy has always been to purchase tools that I need. Then, do side work with those tools to make money. Spend 10% - 20% of your profit from side work on additional tools that you need to save money, or make money with. Use the 80% - 90% percent of the profit to buy a house and then invest the rest. When your investments are making more than your salary and you have everything paid off, then indulge.

It is essentially a reward system for hard work.

 

[YesIHaveAHammer]

One way to manage impulses is to write things down and see how you feel about it in a week or two.

I don't do that, but I do keep a list of tools I fancy, with a reason next to it for why it makes no sense to buy it.

Also those $30-40 orders/items do add up, and happen easier than a single bigger spend. You might actually want/need that single more expensive item more.