How do you budget for Train Purchases?

I save my change in jars, sell old items to by new items, and put down "money for trains" on all my birthday and Christmas lists!

--Greg

I don't and it bugs the wife to no end

I too try to hide some cash from the budget each month. Sadly that generally gets eaten by some emergency before I get a train item.

I did manage to grab one Set this year and a couple nice cars for my Military train.

Now I was saving for Christmas but the dog got sick and the Vet bill is $1200. ACK.

I don't feel any dog is worth that much but I didn't get to make the call.

Russell, take care of your dog.  $1200 is nothing in the big picture of what your dog gives you back in love, companionship and loyalty.  He (or she) will love you unconditionally for it.  I'd spend $1200 on my black lab Zuke if needed, before I'd spend a penny on another toy train.  Look into the eyes of your dog, then look at your trains sitting on a shelf.  It's a no-brainer.  Priorities, my man.  Best wishes for your pup!

David

Lately I've taken to rolling winos. 

Jerry

1st I ask my wife of 49 years if it's ok! She always says "NO", and that ain't the only thing . So to plan "B" dig out my rat holed money, order what I want, have it shipped to a friends house, also be sure you have one that's single. When he calls you and tells you that your order has arrived, then catch your wife gone, then bring it home! . You guys will never know how many times this has worked for me!.......Brandy!

Sure glad I stopped drinking wine!

Budget? 

We don't need no stinkin' budget!

(Jerry - "rolling winos?" You could always call your RR "The Route of the Rolling Winos", maybe? I can see the custom freight car decals now.)

Russ,

Hope all goes well, our FurKids mean a lot to all of us! My three send their wishes for a speedy recovery.

Called 'Lay-A-Way'. I always seem to have something for myself on layaway here at the store. As soon as it's paid off I start on something else I want. We have several customers that take advantage of our simple layaway plan.

Sounds like a good plan! Hmmmm got to check with you for additional details.

It's not an expensive hobby for me in terms of cash outlay because I buy mostly vintage fixer items. And I'm happy with old well-used items that have real character, which I personally restored to good operating condition. I never would have gotten into O-gauge otherwise. I've built up a satisfyingly large assortment of operable O-gauge items in less than five years, for less cash than what some guys will spend on a single modern electronic articulated steam locomotive. But it involves "sweat equity".

I get a new catalog, go through it picking out everything in my chosen road name that I want need.   Next is to add up all the prices for a grand total.   Then I start eliminating things until I get the total to a more manageable amount that I think I can afford. I then order what's left from my LHS by the pre-order date. And the final step is to start trying to pay for it all. Then I start wishing that the next catalog to come out has a lot less in it that I want need.

LOL I PLEAD with the wife!

No budget here, but then again I don't buy very much either...

I'm still in the wading pool while many of you are in the deep end! 

I keep an Excel sheet of what I am looking for, which all categorized by type (E.G. locomotives, rolling stock, sets, track, accessories), give a good estimate of what price it is going for currently, and decide which piece(s) I can live with spending depending on my current bank account number, especially when a train show in my state is coming up.

When a good deal comes up, however, I have to decide whether to spend now and skip paying about the same amount on a fast approaching show, or pass. Usually, every decision between the two I've made has been for the better.

I don't have a budget per say, BUT I do stop at 5 or 7 hundred for a single engine. That does put me on a certain budget.

The bad side is I don't have some of those fancy hi tech steam engines I would really like to have.

Still happy, happy , happy

Larry

Budget? Bwah hah hah!

If I can buy one I want and pay the mortgage, etc., it comes home with me.

The downside is my financial understanding with my better half is that she gets to spend as much on her interests as I spend, effectively doubling the cost of trains.

I am selling off my 50s lionel stuff because I haven't run them in years. Getting ready to sell over 20 6464 box cars and much much more. I have boxes that haven't been opened for two moves. Why keep it. This is how I pay for any scale stuff I need. Don

scale rail:  I'd be interested in those 6464 box cars and whatever other Postwar Lionel pieces you may have.  Maybe you could email me when you're ready.  (Email address in my profile)  Maybe my train money could transfer to your train money, completing the circle as we all buy MORE TRAINS!

Chip, I am not retired but after the last downturn in the economy, and the way it affected business, I have learned to be very selective in my purchases. I am keeping things simple and running post war O-27 because I have my layout in a small spare bedroom. The steam locos, which fit my pre WW2 ears, are all the smaller ones, so I have not paid more than $150. For that I acquired locos in excellent condition, with minor blemishes. My freight cars average about $20 each, again the smaller ones for O-27, and passenger equipment are a set of the 2400 cars.

I get my track and switches on ebay, as well as structures. All my structures are craftsman wood kits, or are scratch built (holdover from my HO days).

I one doesn't watch the budget, things can get real expensive real fast.

Every time a New Catalog comes out, I say, slow down, start a budget, get just one or two things, no, It's an Addiction, it's just a Never Ending Battle, it's like Chocolate, you never get enough. So, I just work in little harder, plan a little smarter, and that's how I do it. Now, when I retire, that's going to be Rough.....Happy Railroading. (My Sincere Answer is, Very carefully)

I'm very careful to only buy the items I need or want!!

After being out of the hobby for 30 years, I spent the first few years buying whatever I wanted.  Soon I figured that I couldn't maintain that pace for budgetary and storage reasons so this year I decided to put myself on a budget.  That didn't work too well either so I now I am putting money in a jar and only using what I have saved.  Some of the money comes from foregoing another expenditure or using a coupon at the store and in the jar it goes!

Never spent more than I could pay or put the family in financial hardship.

Next year I might actually embrace selling off a few items that I don't use or have room for and only using those funds for new acquisitions.  

I don't budget. If I want something, I buy it.

There are a few ways I budget for train purchases.

*Limit my purchases to only certain road names.  I limit to only those railroads that operate between the Atlantic and Pacific Oceans and the Canadian and Mexican boarders.

*I only buy trains from a limited era.  I try to stay between a 1910 and present time frame.

*Skip two or three mortgage payments. (There are programs to help you get back on track)

*Skip a few utility payments. (They have programs for them too. Apply right before they shut them off.)

*Sell some of the wife's jewelry on ebay.  (She has enough she won't miss it)

*Tell the wife to get a second job. (But Honey, it'll help you buy more jewelry!)

*Spend the kid's and grandkids inheritance. (They need to learn to support themselves)

*Guilt the kids into buying me gift cards from my favorite hobby shops for birthday, Christmas, Father's Day, Easter, Columbus Day, Thanksgiving, Labor Day, Memorial Day, Grandparents Day, New Years Day, Arbor Day, Independence Day, Election Day, St. Patrick's Day, Baseball Opening Day, Flag Day and even a beach day.  It adds up pretty good!

*Borrow money from the kid's piggy bank. (This is no longer in effect as they all have moved out)

*Pre-order items that I like, and then start praying!

This has helped me amass a nice collection.  

Jerry

David I can tell you're a good man.  My black lab means more to me than most people do.

 IMO Expendable income only. It's a hobby, the world demands a lot more from us.  I paid for (4) college educations, they are all doing quite well.   I never considered a hobby until after the last graduation. IMO    Mike CT  

I only paid for three educations.  I always had some hobby.  So did Mom.  I certainly spent far less on trains and model ships during the college years (partly, I admit, because income was far less then) but I think a hobby is important.  No need to spend very much, but important both for your own sanity, etc., and truly, as a role-model for your kids: mom and dad have their own interests, too.

Same here Lee, paid for my 2 degree's no student loans, I did work study.

Always had hobbies.

It is amazing how many people I know who do not have a hobby and they seem to be miserable because they depend on others to provide their entertainment.

I have never been like that.

My Dads interests were usually the same as mine, but my mom never had a hobby in her 90 long years.

Lee, I know from experience you have to keep a slush fund, at least in the back of your mind, for maintenance on the Ferrari. They can be a very demanding mistress.

Ron

I have always maintained that Lee, you have an "in" with Santa Claus....as i am sure that when Santa stops at your house to deliver the latest LionChief++ engine, Santa also delays all other deliveries all over the world, when he see's your layout every year and spends some extra time playing with it!

I have only one way to budget for trains,  the tin can that gets my pocket change.

When the tin can is full, I get to buy something train related.

When it's not, it seems all those sought after items that are never available

are everywhere at ridiculously low prices!

Happy Rails!

Dave

Russell,

   I train Grouse dogs all the time, have been offered way more than $1,200 for several of them, some dogs are worth a great deal more than $1,200.  However there are some

things that can not be over come, make good decisions and always do the best for your companion.  Good luck with your dog.

PCRR/Dave

My Grouse hunting partner Ken with a couple of our Setters, 1,200 could not begin to purchase either dog.

This is a good plan, I need to include several of your tips in my plan! Can you recommend a good program for the mortgage payments and utility bills? I want to start getting things lined up. I also have a 2nd mortgage (that was for this years train purchases). I presume they also have programs for those?

Never use an adjustable rate mortgage (AIM), especially now....

Refinance when mortgage rates go down below your current rate.

If you are a veteran always try and get a VA loan if feasible.

I sell off things I decided I no longer want.  I happily spend my kids inheritance on myself and the wife.  They would just spend it anyway.  If they want some money when I am gone. Let them go through the work of selling off the collection.  Just saying"