Tool budgeting or buy whatever/whenever?

[NY Old Guy]

I already blew through a lot more than a thousand bucks buying tools this year, last night spent $250 dollars. Not that those are big numbers or anything but it's getting to be like an addiction. I find myself constantly scanning for deals and jealously coveting all kinds of tool sets and everything under the sun tool related. Proto is what I find myself handing over my dough for.

So do any of you guys have annual tool budgets that you stick to, or do you buy whatever you need or want after a little due diligence price wise?

Also if you spend a few hundred on tools do you tell your wife about it or will she get irritated so you keep it zipped. I've been spilling the beans up til now, but last night I figured no need to bring it up, as I spent another couple hundred bucks about a week ago, so she might think I'm spending too much.

 

[Heavy Metal Doctor]

Since I use mine for work, I buy whatever I need when I need it. My wife learned after the first year or so to not even ask about it. She sees the checks process through. It's just another expense like gas or food.
It's actually gotten to the point that when I start to discuss something large like buying a welder, she just says "do whatever you need to do as long as it's not gonna effect paying the regular bills".

 

[mrholeshot]

I don't feel the need to go running to the wife about everything I buy. If she ask I tell her but she sees just about everything I buy. If I told her everything I would never have the money to buy more tools. I never ask about the 10,000 purses and shoes she has in the closet either. I also bit my tonque when she shelled out 500 dollars for a Barbie.

 

[treasureseeker]

I have a set of tools that I want to own and sell tools to pay for that. The hard part is finding tools for sale to turn a profit. I first sold off all the tools that I own that don't fit the plan. I try to sell only using PayPal so the wife doesn’t know what I spend. I do run into internet tool companies that don’t take PayPal, but so far I have been able to get it from someone else. I like German tools which really limits where I can buy.

Chris

 

[May Pop]

25 a week with my weekly cash. If I dont go out to lunch that will also get put into the fund. It adds up quick.
Ron

 

[Case IH]

come winter like this I only make $30 a week (Im 15) so that is about my budget I usually save-up for a few weeks then go to the used tool store but come summer I make about 200 a payday so it goes up a little..........Food and board is free for me

 

[Moose-LandTran]

Buy what i want or need whenever. If i need something, i buy it as long as i can afford it. If i want something and can afford it i just buy it, if i can't afford it then i don't buy it. Works fine for me. I needed some special tools to rebuild a Subaru engine recently so i just bought what i needed to get the job done as i had the money available. Went on the Snap-on truck today and my dealer had a special on a puller set (40% off + a free puller) so i bought it, because i wanted it and had the money. It was £240 but i had the cash.

There are other tools i want (but don't need) and although i could go buy them straight-up i'm holding off until i either need them or i have more cash. Could buy them now but i don't feel to spend that much at the moment.

 

[Boiler]

In my case buying too few tools is the problem. I feed my kids based on buying and selling tools so if I can't find stuff to buy I can't pay the bills. I do buy some for myself, but usually that happens when I've got plenty of cash from selling on hand.

Its pretty cool coming home and telling the wife that I spent $2000 on tools and get an "attaboy" for it.

 

[GDA]

I am not a pro but for about a two to three year period I set aside about $150 a month for tool purchases. I then built up a wish list and used this stash to buy large lots of tools on ebay and CL and then sell of what I already had or duplicates. I found that once the price of a lot is over $200 the price on tool truck brands ususally was 30 cents of retail or well below for tools in great condition. For example, I bought an entire set of Snap On flank drive combo wrenches from 1/4 to 1 5/8 for $360 on ebay. In no way did I need anything over 1" but when compared to acquiring those individually, I have found the big lots can be a great way to score truck brand tools.

I now have all the basics, torquewrenches, air tools, pullers, common suspension tools etc covered so I only buy on a special need or when an unusual tool is noted at a great price.

 

[chadster1]

I spent close to $500,000 buying tools last year.

 

[SledgeFix]

I'm not married but I'm sure there has to be an adjustment to my general idea when you're sharing savings with someone else, mainly disclosure. It'll be slightly different for everybody.

I buy myself a decent-sized Christmas present, something like a full set of stubby wrenches, something you always want but rarely need, but it feels great to get and put in your toolbox. You *should* always save your money, but you have to be realistic, we save money so that we can use it to buy things, and periodically, you have to do something that makes you happy for your mental health. I get down and out for no reason if I don't get to do anything at all for myself after a few months, like maybe I had a big bill or I spent a little extra on the wishlist last time, so I budget money specifically for my hobbies. If that's $30, $150, or $500 a month, it is what it is. Don't spend more than you can pay off, and don't feel guilty that you bought a toy that you worked hard for the money to buy. You earned that toy.

 

[Gary S]

I don't really need a tool budget. I don't collect tools just to own. I have most of the tools I need already, and occasionally something comes up that I need, so I just buy it.
Tools are for using to get work done, not to own or show off.

 

[Roots]

I don't budget for tools, I buy what I need when I need it or see a need for it, which I can justify. Every now and than, I'll go out on a tool buying spree and order all sorts of tools. Than I'll go six months, and likely not spend a hundred. My main concern with tool buying though, is to either pay cash or pay off the CC bill as soon as it comes in.

Last year, was the most expensive tool purchase year for me - ever. I spent about $5k with Matco alone, trying to upgrade an old beat up assortment of tools, in addition to upgrading from an old Kobalt chest and Blue Point cart to a Matco chest and cart.

 

[route246]

I don't have a budget but I am at a place in life where I don't need a budget because my expenditures do not crimp my lifestyle. I am a pretty good handyman so every time there is something around the house to repair I make sure my wife knows that it would not be possible unless I had my tools to do the job and the alternative is to call someone in to do it and she knows that costs many hundreds of dollars to just get them to show up.

My tool collection is private for the most part. I don't show it to people and I don't covet tools, I just like to have them. I don't want friends or neighbors borrowing them because it's too difficult to get them back.

It's like when I had my truck. I would get calls out of the blue from "old friends" asking about my truck. I would often tell them that it's mothballed and it would cost $150 to get it lubed and prepped for driving and if they're interested in helping out with doing that they could borrow the truck. "Oh, thanks, see you later" was the usual response after I feed them that.

 

[canuckian]

I don't really have a budget per se but I try to get the tools I do buy for the best prices i can. I meet up with my Snap On guy about once a month and depending on what I need at the time, I can get off the truck after spending as little as $20 or as much as, well, whatever i need costs. My biggest total so far was a little over $500 in one visit but those kind of totals are rare for me. My wife's even spent more than me on the truck in one visit when she bought my cart and a couple of hammers for me for Christmas!
My wife is, IMO more supportive than a lot of spouses of my tool purchases. As long as i don't go overboard and she sees where there's a practical use for what I buy then she's fine with it. She even scours Ebay from time to time looking for good deals for me. The way I (and I think she) see it, I don't do drugs, I don't drink a lot and I'm good to her and our little one so spending my hard earned $$ on things that will help me be more productive and self sufficient isn't a bad thing.

 

[sumner52000]

I'm no longer using tools to make a living. My wife and I have a budget every month and i get $100 to just blow. Most of it is spent at flea markets and pawn shops on tools. If I run up on a real good deal we have a budget meeting and discuss it. Some times we can swing it other times we can't. I'm sure things would be different if i used them to make a living, but you would still need to make sure you're not spending more than you make.

 

[NJHandyGuy]

i DOn't have a budget i buy what i need when i need it.

 

[5lima30]

Since I retired my wife (CEO) and I have agreed that we would not exchange gifts for Christmas or birthdays. Instead if we want or need something throughout the year we buy it. We do shop wisely (bargain hunt) and don't make impulse purchases. Yesterday we went to Northern Tool and Harbor Frieght while in the metropolis of Asheville. I purchased a Pro-Fusion 240v construction heater and a combination belt/ disc bench sander and the wife picked up some stuff she needed at Sams. (Both were on sale and I had a H/F coupon. This system works for us. YMMV.

 

[bobcatdan]

The biggest down fall to my budget is "shiny tool day". Whenever something I'm working on that just ***** so much ***, I'm going to sell the whole lot and quit. Then a tool truck rolls up and I walk off with something new. Other then that, if I need it I buy it. Only tech at the shop, no such thing as borrowing. Also the used bin is always tempting. I have come to except paying SO $50 a week for life.

 

[SledgeFix]

shiny tool day

Oh, shiny tool day. If I had a tail it'd be wagging.

 

[Hammer1963]

It is what it is. I make my living with tools and buy what I need to make more money. That being said, I will admit I do have a tool addiction for work use and home use. My problem is that if I use it at work, I want it for home use as well. Then I have this wife who has her own Snap-on screwdrivers in the Kitchen drawer. Of course they are Pink and this teenage kid that thinks he's a budding mechanic (he's actually damn good) and the former boyfriend of my daughter who also works out of my garage who I have turned on to quality tools. So to answer the question, HELL NO. No budget here and it easily exceeds 5 digits in a year. Thank God for Snap-on, Matco and Cornwell.

 

[GeorgiaHybrid]

As long as you do not take away money from the family that they need and you spend "extra" money on your hobby, no foul. Just don't ask the wife about clothes, hair, nails, shoes, etc. You might not like the answer to those....

 

[moparmuscle88]

what i buy is for work, so if i need it i buy it, period.

if i think i'll need it, i ask, "are the bills paid" ... if yes, then ill buy it, if no, i'll wait till i can, simple enough

 

[Lotek]

If I need it for work, we get it, if it's for the boat...

 

[TireTracks]

Being that I am only 17 all the money I make working goes to whatever I want, so I usualy will save up $100 or so and just go to sears and buy some tools, whatever I think I need or want.

I cant wait to finaly go to a Harbor freight to get some things I cant afford to buy in a Name-brand.

 

[chevydriver37]

I do a lot of work on boats, i/o's, inboards, restoration, etc., so I have a lot of "basic hand tools". Also have a lot of marine specialty tools for specific purposes, and finally more carpentry tools than I can shake a stick at. I use them all though and the wife doesn't complain or hawk me anymore. I give my tool guy 50 a week and then whatever else I need. The other nite I had an impulse buy for an Estwing hammer on amazon. Didn't think twice about it.

 

[ramtuff]

I'm not swinging wrenches for a living right now, so there's really nothing I need, but if I go a long time without buying tools I'll end up going on a buying binge. That binge will be expensive, and I will feel bad for dropping a ton of dough in a short time. But to answer the question, I don't budget for tool purchases. I usually just buy when I need/want something.

 

[Zebu Fellenz]

I buy what I need when I need it and buy what I want when I can afford it...

 

[jpoe]

I Hide purchases when possible and when forced, I omit as much as I think Ican get away with.

 

[cowchaser]

No budget here. I am an impulse buyer. That is not a good thing when it comes to tools. When I was woodworking I use to always buy atleast one clamp everytime I went in to a store. Collection grew fast and I didn't have to take the hit all at once. Did I need them, NO.

I have a harder time going into a store just to buy a tool set I have been looking at. I just can't seem to buy it out of guilt or something. Now let me walk buy and see a sale tag on it while being there to get something else and I have no problem buying it. I have never figured that out. Must be from my frugal parents.

 

[Gregg33]

I don't have a wife or even a gf because I spend too much time working on stock cars, so I don't have to worry about what anyone else thinks. lol Having said that I'm pretty low budget. Often I sell tools I have to buy better ones. When possible I buy higher quality American or Canadian made tools. I have a fair bit of Gray and Kobalt. I've gotten to the point now, where I have enough tools so I rarely have to buy something new to get a job done, although usually there is a tool out there that makes the job easier and I'm working on getting those. Some things I'm looking at getting right now are some better screwdrivers which is a small purchase and at the other extreme a set of scales for my race car which is well over $1000 (I'm fed up of borrowing other people's junk).

 

[chewy7]

Since I use mine for work, I buy whatever I need when I need it. My wife learned after the first year or so to not even ask about it. She sees the checks process through. It's just another expense like gas or food.
It's actually gotten to the point that when I start to discuss something large like buying a welder, she just says "do whatever you need to do as long as it's not gonna effect paying the regular bills".

that must be nice

 

[sberry]

I don't really need a tool budget. I don't collect tools just to own. I have most of the tools I need already, and occasionally something comes up that I need, so I just buy it.
Tools are for using to get work done, not to own or show off.

I pretty much follow this sentiment. I buy a lot of parts and tools are not that much of a speed bump in the grand scheme of things. I am basically a partner/owner in a family business and my area of responsibility and expertise is in the physical plant infrastructure. I am generally the procurement agent, I usually think it thru, I tend to inform the partners more when money is tight or purchases are large, usually with some general idea of the rate of return. Some of the numbers are contradictory but I have it down to some simple statistical science with instinct built in as well as experience.
If I can make a buck by buying a new tool I am on it. Some purchases can return immediately, some take a while longer. Did a job a while back, did it 18 yrs ago and made it thru, this time I could have limped with what I had but invested, sometimes its hard to let go but when its done the couple grand paid back in a month due to reduced labor. I have a view more like a contractor in many cases vs say a factory where they often view labor as fixed cost. If it cuts down on men or makes it where I can do it myself its a huge factor.

 

[JeremyManning]

I don't feel the need to go running to the wife about everything I buy. If she ask I tell her but she sees just about everything I buy. If I told her everything I would never have the money to buy more tools. I never ask about the 10,000 purses and shoes she has in the closet either. I also bit my tonque when she shelled out 500 dollars for a Barbie.

Is it the one in the picture and that is your idea of payback

I buy what I want and sometime tell the wife, i also make a lot of trades, also when buying gas get a little cash back and stockpile

 

[crewchief888]

no tool budget, and i stopped buying much of anything..

last year my total tool buying consisted of replacing my worn out chop saw, with a new ridgid from HD, found it on sale for under $120,
a kennedy cantilever box from the flea mkt for $9,
a few odds and ends of truck brand wrenches, screwdrivers, & ratchets, swap meet, flea fkt,& used tool store finds, might have spent $150 on all of it.

i tend to make myself justify the cost on buying a new tool over $25 or so, mainly because i probably have something, somewhere that will do the job.

 

[boiler7904]

No set tool budget since I buy stuff as I need it. I don't use tools for a living so everything is for use around the house and on our vehicles. When my wife wants projects done around the house, I include the cost of any new tools in the total project cost. Seems to work well so far.

Case in point I built a new concrete paver patio a couple of years ago. Material was around $3,000. Dumpster, compactor rentals, and a permit fees added another $600. New tools were around $400 including $275 for a masonry cut off saw. At first she asked if I really needed it. After seeing how slowly cutting retaining wall block went and how quickly $80 a day for rentals would add up - the question went away. Now I have the tool to do that type of project again for basically free. The payoff came a few months after we finished the patio and a family down the street had something similar (same materials, a few square feet larger) done by a contractor. They paid just under $12k for something I did myself for $4k.

Of course I watch sales and strike on deals when I see them so that helps. Masonry saw above listed at $569 - HomeDepot.com was clearancing it for more than 50% off. New Dewalt 12" SCMS was bought for 30% at Lowe's off because I knew there were projects in my future for it.

 

[Theloniousmonk]

What tools? I have no idea what that receipt is for... must be from your dad or my brother or something... oh that money, it was for some stuff for the cars and um i think i um got some clothes for the kids and um maybe gas or something. I like your shoes...you look pretty today...did you get a haircut?

nah, I get what I need and some things I dont... we both understand our budget limits and stay within it fairly well.

 

[cruiser808]

Proto is what I find myself handing over my dough for.

Yep, buying Proto tools can put a dent in ones pocket real quick. But the good news is that you can pick up used Proto tools for relatively cheap prices.

 

[rayzor32]

I try to keep it at $20/week or less, I usually only buy things that are on sale unless I absolutely need something then I just buy it.

 

[poprockcrusher]

the budget used to be 300 a week