How Do You Budget/Prioritize For Tooling Expense?

[Janderso]

I am vigorously putting my shop together and found my initial budget of $15,000 may not go as far as I had hoped. I am about half way into my budget and have done well but there are so many more items to consider.
My wife keeps asking me, "what are you going to make?".
I would assume that would be the first consideration, only prioritize tooling, clamps, angle plates, cutting, milling cutting bits, drill bits, rotary table? Drill press, band saw, lathe, milling machine, bench grinders, welding machine, lighting, bench, tap and dies (Imperial or Metric, Both?) tooling and accessories for the tools mentioned.
I have most of the equipment I have mentioned and I prefer old iron vs. new machines.
In fact, I enjoy refurbishing the older equipment, making parts etc.
I am also struggling with time management. I get home from work and kiss my wife on the cheek, change clothes and head out to the shop.
She asked me when she was going to see me again?
We have been married for 35 years, how much time could she need with me?

 

[chips&more]

Hi neighbor. Soooo, what are you going to make?...Dave

 

[Bill Gruby]

I have been married for 48 years and am smart enough to know that there is no time limit on how much time my wife needs with me. Family problems are always getting in the way.

Think of what you wish to do with the shop, then you will know what you need and when you will need it. IMHO you are moving too fast in getting your shop together. I have had my shop for many years and it took all of those to get my machines.

"Billy G"

 

[Janderso]

Mr. Billy G, you have sound advise sir.
I do feel I am moving too fast. Sometimes I approach things with too much haste. I have gone way too long without a well equipped shop.
The old saw is one of my projects, gives me an opportunity to use the mill and lathe to make needed parts. The question is, when I get the saw fixed up the way I want do I sell it or keep it? I am leaning toward a new vertical band saw vs. a horizontal. More versatile IMHO, for my anticipated "projects?"

 

[dtsh]

I tend to buy my tooling as I need it. I'm nowhere near a proper machinist, but I am very frugal, so I tend to kick tooling needs down the road in hopes I'll learn a way to do whatever operations with the equipment I have. A portion of my incentive in this regard is space related as well, as I don't have much space in my shop.

With planning, it's sometimes amazing what all can be done when only a little time is allocated to it, consistently. I disassembled, moved, repaired, and reassembled three 16' dia steel quonsets two years ago all by myself, with no equipment aside from hand tools, a block and tackle, and a shear-leg derrick I assembled from 2x4's. An hour or two a day adds up and eventually the project gets finished. Tying in to machine needs, we moved 45 tons of gravel as part of the same project; 30 ton of it by hand until I found an old skidsteer at a price I was willing to pay. I moved the last 15 ton in far less time than the previous 30, but it came at a cost. Keep plugging away and you can accomplish almost anything!

As for the time management, I tend to allocate about an hour or so each day to projects as other deamands tend to not allow for much more. I find I don't tend to crank out finished jobs very fast, but it also greatly reduces wasted materials as the limited time leaves me with more time to think about the project than to machine on it. Be happy she wants to spend time with you, make sure you're managing time for your relationships too!

 

[ACHiPo]

Hi neighbor. Soooo, what are you going to make?...Dave

I hate that question!

I’ve taken to answer “lots of chips and big metal pieces into smaller metal pieces”

 

[ACHiPo]

I am vigorously putting my shop together and found my initial budget of $15,000 may not go as far as I had hoped. I am about half way into my budget and have done well but there are so many more items to consider.
My wife keeps asking me, "what are you going to make?".
I would assume that would be the first consideration, only prioritize tooling, clamps, angle plates, cutting, milling cutting bits, drill bits, rotary table? Drill press, band saw, lathe, milling machine, bench grinders, welding machine, lighting, bench, tap and dies (Imperial or Metric, Both?) tooling and accessories for the tools mentioned.
I have most of the equipment I have mentioned and I prefer old iron vs. new machines.
In fact, I enjoy refurbishing the older equipment, making parts etc.
I am also struggling with time management. I get home from work and kiss my wife on the cheek, change clothes and head out to the shop.
She asked me when she was going to see me again?
We have been married for 35 years, how much time could she need with me?

Well it looks like you already made a speed handle for your Kurt!

I like your bandsaw—looks very sweet!

 

[ACHiPo]

Mr. Billy G, you have sound advise sir.
I do feel I am moving too fast. Sometimes I approach things with too much haste. I have gone way too long without a well equipped shop.
The old saw is one of my projects, gives me an opportunity to use the mill and lathe to make needed parts. The question is, when I get the saw fixed up the way I want do I sell it or keep it? I am leaning toward a new vertical band saw vs. a horizontal. More versatile IMHO, for my anticipated "projects?"

You should definitely sell it

 

[MrWhoopee]

I'm is a similar situation in that I am just now, after a long time, putting my shop together. While shop tooling is a bottomless pit, in a home shop there are certain things that are basic and other things you may never need. I was fortunate to be given my mill, lathe and a fair amount of tooling with each. I've been concentrating on the basics:

QCTP, chucks and collets for lathe and mill, basic cutters (end mills, fly-cutter, brazed carbides, boring bars, simple inserted tooling that use common inserts). Mill vise and parallels. Quality HSS 3-in-1 drill set. Cheap HSS S&D drill set. HSS taps & dies from #6 to 1/2 in coarse and fine. Metric can come if/when you need it. (I just bought a cheap carbon steel metric tap & die set for $15 off CL. It will repair threads, maybe tap a hole or two. I'll replace with HSS as needed.) Tailstock die holder (make your own), live center. Don't shy away from Aliexpress or Banggood, it's a home shop, not aerospace production. 4x6 bandsaw (it will do horizontal and vertical). Bench grinder.
No doubt I've forgotten stuff.

Things that can wait: DRO's, 5c collet blocks, drill press, rotary table, collet indexer, inserted threader, welder, vertical bandsaw

What am I going to make? Mostly tooling until a need arises.

My wife is just happy I'm out in the garage. She knows where I am, what I'm doing (vaguely), and I'm not under foot. Spend some time with her, become a nuisance.....

 

[agfrvf]

I assume my time is worth 25/h. If an oportunity is worth more I'll take it. If time and materials for a tool add up to more than OTS I take the shelf.

Note: I have been accused of being a robot.