How Do You Budget/Prioritize For Tooling Expense?

I have a white board in my office with 3 columns.
Column one is equipment, tools, and supplies I would like to have.
Column two is supplies I use all the time, and stuff I need.
Column three is paid jobs. (If its not paid it doesn't go on the board.)

When I have money left after paying bills I look at the board and makes sure I have everything in column two for the jobs in column three. Then if there is any money left over I look at column one.
 
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Bob La Londe said:
I have a white board in my office with 3 columns.
Column one is equipment, tools, and supplies I would like to have.
.....Then if there is any money left over I look at column one.
Click to expand...

Exactly! At the end of the day - what we really care about is column one.



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more basics: tie-down clamps, boring head

Budgeting is for sissies.
My wife and I have (and always have had) separate incomes, bills and checking accounts. We both contribute to the common expenses. She spends, I save. No guilt, arguing or gnashing of teeth. I always have money for a car (used of course), refrigerator, washer & dryer and TOOLING. Currently working on justifying a new TIG. I have the funds, just haven't quite justified (to myself) the outlay.
I DO NOT RECOMMEND trying to change your current arrangement. I do recommend this for those entering into a new relationship.
 
A new AC/DC pulse TIG is definitely in column one for me. I'd like to move it to column two, but I just don't do fabrication work for others. I only do machining.

My wife makes more money than me, and I like it that way. She has rarely ever asked me to hand over the contents of my wallet. LOL.
 
Starting out I bought only what I needed to complete the jobs in hand.
After 25 years of doing it that way I rarely find myself short of the right tool for any job that presents itself.
 
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