Money$$$ spent on hooby quilting - how do you account for it???
#61
Super Member
Join Date: Aug 2010
Location: Jacksonville, FL
Posts: 1,389
I shred my receipts... no evidence! But seriously, I don't buy nearly as much as I did when I first started quilting. And I wouldn't count rulers and other tools as part of the 'spending' money. Those are tools you will use again and again.
Back when my DH and I both had good jobs with benefits, I used to say I would only buy as much as would fit in my briefcase to take home at night. But now DH is on disability and I have a job with no benefits, no insurance, etc., so I am VERY FRUGAL with my purchases.
Back when my DH and I both had good jobs with benefits, I used to say I would only buy as much as would fit in my briefcase to take home at night. But now DH is on disability and I have a job with no benefits, no insurance, etc., so I am VERY FRUGAL with my purchases.
#62
Super Member
Join Date: Jan 2011
Location: Small town in Northeast Oregon close to Washington and Idaho
Posts: 2,795
I sell some of my quilts so I can write off a portion of my quilting "stuff" including the sewing room (part of the mortgage plus electricity, gas for going to quilt shops, wear and tear on my car, etc.) I sew in. I pay for everything with a debit card and at the end of the year I get a copy of my checking acct for the year and go over it to deduct what I've spent. My MIL is a tax consultant and showed me how to write things off. Nothing wrong with it. It's my passion, my hobby, and I spend a lot of money on gadgets and fabric. Sometimes I feel guilty spending so much, but soon I'll be in retirement and not have the extra cash to spend. I'll probably be selling more of my quilts then.
#65
One way I rationalize my fabric costs is that if we were to purchase baby gifts, wedding gifts, etc, they would cost a certain amount. Deduct that amount from your receipts. Also, I decided to teach at a local quilt shop a few hours a week, and there are certain expenses you can take on your taxes such as professional magazines and depreciation on your sewing machine. Every little bit helps. Besides, it's like the ad says: $50 for fabric, $25 for batting, your sanity: priceless!
#66
Super Member
Join Date: Dec 2010
Location: Coastal Georgia
Posts: 1,508
I don't! I am financially well off enough to buy what I want when I want to however I'm able to do it with some 50 years of having worked and made sound investments, mostly stashing coins and dollars away in a safe box I keep in my house. And of course my retirement money I get each and every month. I have been very good at saving literally pennies and more over the last 50 years to get myself in the position I am in today.
So I don't feel a need to justify what I spend on any hobby I may have or anything else I may want.
So I don't feel a need to justify what I spend on any hobby I may have or anything else I may want.
#67
Member
Join Date: Aug 2011
Location: Omaha, NE
Posts: 51
I keep all my financials in Quicken and I have a category titled "fabric and supplies." I just checked and I topped $1100 this year--barely. BUT, I sew all my own clothes, some clothes for my adult daughter, and a few outfits for a friend's children in addition to quilting fabric and supplies. I also checked my "clothing" catetory (for ready-mades) and it was less than $350. So, if I consider all my own clothing plus hobby fabric plus gifts for others, I don't feel I'm doing too badly. I have made a pledge to NOT buy anything this year unless it's needed to finish a project that I already have most of the stuff for. Yesterday, I sorted my garment fabrics and my quilting fabrics and set up for the next project in each. Today, I am rearranging my sewing room and setting up the projects at the machines with needed supplies, etc. I'm currently out of work so money wil be tight for a while but I have lots of time on my hands so I plan on being productive. It is a challenge to cut the budget in half and see how far I can make things go. One advantage is a huge stash--I can make lots of things with limited $$$. Just info--my current projects are binding a 9-patch baby quilt, putting together a lap quilt for my mom (squares finished) and quilting it (by machine), and making a lined wool skirt for my daughter (just moved to Michigan and needs warmer clothes!). Three machines = three projects!!!!!
#70
It's expensive in the first year, because you're buying tools and supplies that will be used for years to come. The costs go down as the stash grows and you can make quilts from what you have on hand plus a few pieces to finish them out.
I personally don't track what I spend (well, I have it in Quicken as sewing supplies but I never look at the totals.) It's less than I spend on books every month, I'm pretty sure.
I personally don't track what I spend (well, I have it in Quicken as sewing supplies but I never look at the totals.) It's less than I spend on books every month, I'm pretty sure.
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