Craft Budgets/Allowances

I’m curious! So if anyone’s prepared to spill the beans, let me ask: do you have a budget or allowance for your craft/hobbies/yarn/whatever, and if so, how much is it?

Are you picking up pennies in the street, or diving into piles of gold a la Scrooge McDuck (no judgement: I would totally swim in a stash pile if I could afford it).

My own hobby budget/allowance (for all hobbies, not just yarn) is NZD10/month, which is about USD6.50 or EUR5.80. But sometimes I fudge the books a bit by counting yarn or fabric purchased for clothing under my clothing allowance instead - it’s more than twice as large. And of course, yarn purchased for a gift doesn’t count. :wink:

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I do have a craft allowance for myself, and as I’m on extended sick leave, it’s about NZD 25/month. I have been too scared to spend that much though so I have a bit more than that from previous months, and that’s now rapidly being transformed into colours, thread and crossword puzzle magazines. I was a student for many years, and lived very frugally so that’s still very much influencing me.

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Not a budget per se, but try to be careful to not overspend. I have a lot of yarn that has been gifted to my by friends, or family of friends, so if I’m going to make a project, I try to go through my stash first and then get whatever yarn I need to finish a project.

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I don’t have a specific budget, but I usually get to the point where I feel like “enough is enough” and then I avoid yarn shops (online and local) and sometimes destash. Also, except for the monthly yarn club I subscribe to, I typically use my PayPal balance for purchasing craft items, so I don’t really budget that. I modded a pretty big destash group on R for several years and that was a great place to destash extra skeins or yarns I decided I no longer wanted to knit, or tools, etc. (I really really miss having that platform because it was so easy to buy and sell.) Because of that, I have a pretty big PayPal balance to play with right now, but I’m also frugal so mostly the money sits there until I can’t help myself. :wink:

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Mine changes based on what wiggle room we have and it usually comes out of my personal spend it on what I want category :joy:. So I usually can find enough to buy a skein of sock yarn most months. If I’m doing gifts with the yarn it will come out of a gift category. Again depends on what we have at the time. Over a year I probably spend 200-300 USD.

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I’m habitually frugal as well. I think it helps me enjoy a treat more - if I can convince myself I’m not overspending!

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I’ve had friends (mostly family, actually) give me yarn as well, either in yarn form or as gift certificates. They know it’s always welcome!
The waistcoat I’m knitting uses yarn I bought with a gift certificate. I’m hoping there’ll be enough left over for a little cape as well - probably from Dez Rock’s Old Fashioned Cape pattern.

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Me too. I did almost everything pertaining to yarn/knitting/ through PP. All of my swapped/traded/sold/ items and mailing were managed through PP. The cash made from items I sold remained there. I was able to purchase my husband a very nice i7 laptop and even traded two very nice skeins of yarn for the iPad tablet I use now. I’m really missing the good things about the over place, but because of certain changes that window is now closed. Hopefully, something similar will open up here on this site.

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Yes! I like having PP act as a bit of a bank. I don’t have a bank account associated with my PP account, so I just leave the funds there to collect. I sold a bunch of yarn and a nice set of needles right before leaving R, so I have a good bit of cash waiting for me. There are two bigger items that I’d like to purchase (a rather expensive fountain pen and another set of Dyakcraft needles), but I haven’t talked myself into spending the money yet.

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Right now money is tight due to a great unforeseen emergency room visits. We have set aside a budget for those even with insurance it doesn’t cover all. What we have done in the 17 years of marriage is agree that any of the bottle returns we have go directly to my craft budget.

In Michigan we have a 10 cent return on all carbonated and alcohol beverages excluding wine and liquors. Mostly beers, wine coolers. They started this back in the 70’s when people would toss cans out car windows etc. So anyway, we save up the bottles and cans until the bin is full…then we take them to the store and return them. We have to pay the 10 cents up front s a deposit, we get it back later. (There’s talk of ending it, but too many Michiganders like it I’ve known people to use it when they are running low on funds to next payday and they need gas in their car etc.) Anyway that’s my budget.

Hopefully we can increase it now that Bill’s are paid down and we have more wiggle room with hubby’s promotion.

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Right now it’s zero till the stash is less overwhelming

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Definitely a better problem to have than “zero till our finances improve”! :slight_smile:

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that’s very true!
However, the stash is out of control and It’s starting to overwhelm me. So quick and easy projects for a while to use up yarn and hush the hubby. :slight_smile:

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We downsized two years ago, when the last kiddo graduated college. I destashed heavily then, keeping only the yarn I had purchased for two specific projects.

My mantra now is that I cannot buy new yarn until the latest project is complete - EXCEPT that my nephew and his wife told me they are expecting in August, so I HAD to buy yarn to for a baby gift before I finished the cardigan I already have on needles.

So, I guess my budget is the cost of three or four projects a year, which probably averages out to $20-$30 US a month.

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I’ve been knitting for over 63 years. Yarn used to be ridiculously inexpensive. I am still shocked by how much it costs to knit a sweater these days.
When my kids were still at home I was extremely frugal and spent next to nothing on yarn. Now that I’m retired I simply spend whatever I want. However, I am limited by some arthritis, and only do two or three projects a year. And I don’t buy yarn without a project in mind. If I can use yarn I already have, I’ll use that first.

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I have been knitting/ crocheting for 54 years and used to have a very strict budget. If I earned extra monies babysitting other children, I would buy to provide clothing for my family. Now that I’m retired I have no budget but I still bargain hunt. I never pay full price unless it’s a very special project. When I knit I spend more money just because knitting uses less yarn. :wink::yarn:

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OH! I have a question for you. I may be having to do some destashing in the near future. Does R get a cut of sales made there? I haven’t totally disabled that account because I still use it for reference and the fact I’m currently involved in a MKAL. I just refuse to give them any more $. I’ve never been able to make myself do a complete inventory and log; not looking forward to having to build/photograph/organize all my mess!

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They do not get any part of destashes. R doesn’t involve itself in any way in sales between members. Just remember that you’ll want to use the PayPal “goods & services” option, so PP will charge you a small fee for that.

I’ve been thinking of starting a destashing group here as well. I modded the Sell, Trade, or Destash group on R and grew that group from under 1,000 people (when I took it over) to almost 8,000 people. It might take a while, but I bet we could get something successful going here also. I did also start a group on one of the other new platforms and that’s growing quickly. (I knew about that site before I knew about this one.

I heard somewhere that sock yarn doesn’t count as stash…

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