Question for Collectors/Parents

[RedlegsFan]

Sort of a weird, maybe personal question here, but thought I'd bring it up since I've never seen or read anything of the topic. "what % of gross annual household income do you typically end up spending every year for your collection?"

Obviously there are many variables and issues that influence the matter, but if anyone wants to chime in, or give an opinion, please do, and thanks. I hope the financial question is not inappropriate.

Anyhow, Im in my 30s with 3 kids on a "mid middle class" income. No other toys or hobbies for me, but vintage card collecting. I consider my card "budget" on the lower end for a serious collector, due obviously to not very much disposable income. I decided to make an attempt at a sort of audit on what Ive actually spent over the last 4 or 5 years. I figured I have averaged about 1-1.5% of gross annual income per year. Does this seem a bit much for my demographic? I live normal, pay bills, pay pension, etc. which always come first of course. Any thoughts? Thanks!

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[kailes2872]

Last two years I budgeted 5% and spent about 8% (gulp). But I found some nice out of plan sets that were too good to pass up (or so I told her). My plan is to buy 3 vintage sets (62, 62, 57 this year last year was 65, 64, 63 but found good deals on 60, 59, 58 that I couldn't pass up) at bonus time. I then have 100 per paycheck go to my slush fund account. I also get 56.5 per mile and this accounted for nearly 5 grand last year for upgrades and special purchases. My oldest is 15 and a freshman and goes to college in 3 years and he is only half funded for college right now. I have the plan to get him funded the rest of the way next year but I am reminded if this every time a large box shows up at the door. She tells me that me and my cards are like casino chips. I lose the concept of the dollars and play in a different currency.

[ALR-bishop]

I treat cards as a hobby. I am retired now but have always been sure that what I spent on card would never be needed by my family if something happens to me. They can bury them with me or sell them and either way still have everything they will need

[SMPEP]

Hey Al,

You have a few that I need ... so if your heirs "don't need them" ... you can always leave them to me!


Cheers,
Patrick

[brob28]

I'm not really sure, although I could find out. Although not retired, I take a similar approach to my purchases as Al - I only buy with excess cash after all family/retirement needs are satisfied, this keeps it all about the fun for me.

[brob28]

Originally Posted by SMPEP

Hey Al,

You have a few that I need ... so if your heirs "don't need them" ... you can always leave them to me!


Cheers,
Patrick

Amen Patrick, we all fit in that boat reg. Al - Al - an unmakred grave would be a good idea!

[Harliduck]

I've never thought about my spending in terms of percent per year...but it is pretty easy for me to figure considering I have a set amount I spend per week (to keep me inline, haha). It works out to a little over 3%. I feel much better after figuring that out, lol.

Like Al, I am totally a hobbyist. I do acknowledge the fact that my collection is certainly worth money...so I do justify even the 3% spend as an investment. I know at minimum I can get back what I put into it, maybe a little more, so unlike most hobby's there is that security.


Edit to add that I do have 5 kids (1 we recently adopted and it was financed by baseball card profits actually) with 1 in college.

[Exhibitman]

Depends on what you define it as. I sell stuff too, so net of everything probably 1% or less.

[RedlegsFan]

Thank you all, for your replies and input

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[Cardboard Junkie]

I think this thread is relevant to the discussion.
http://www.net54baseball.com/showthr...your+net+worth

[bobsbbcards]

Originally Posted by ALR-bishop

They can bury them with me or sell them and either way still have everything they will need

Maybe we'll bury your cards and sell your corpse. That could bring quite a bit on Craig's list.

[ALR-bishop]

Large lot of cards available for sale. Come from a smokeless and corpseless environment