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Thread: How do you organize gun-purchase money?

  1. #1
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    How do you organize gun-purchase money?

    EDITED TO ADD:

    A few responses below say something like (paraphrased) "Use a budget!" -- I guess my post as originally written wasn't clear enough on that front; I live within my means (including what should be a fairly quick dissolution of my only current large debt -- law school debt) and do budget my money.

    What I'm curious about is really a sub-budget -- that is, whether people have any interesting specifics when it comes to paying for / organizing their gun-related purchases specifically, such as (self-imposed) mandatory waiting periods, weekly or monthly chip-ins, a change jar by the door, or what (And several of the answers below have been responsive to this -- thanks!)

    My intent is to make it easier for me to "painlessly" finance gun purchases; the system I describe of socking away $40 each week is to establish a rolling fund, which I see as then allowing me to decide whether the premium it would take to get past the quarterly allowance would be worth it, and if I find a great bargain for *less* than my self-given allowance, the balance would stay put and earn a few cents of interest.

    After that needlessly long update, follows the post as originally constituted

    -------------------------------------------------------------


    Hi there!

    The other day, one of my many non-brilliant realizations hit me: if I put aside $40 each week (or $6/day, which would make $42, but this is rough enough that round figures make sense) for gun purchases, it would make approximately $2000 per annum; my idea is to put that money aside for the purchase of either 3 or 4 guns per year, transparently / religiously, such that every 3 (or 4) months I could (with minimal additional funds injected, as necessary), satisfy the craving for a particular gun purchase.

    As most economists would agree, *my* hankering for cool hardware is essentially infinite, but resources are not So a gradual-build-up system I think would be useful to me both to enable certain purchases as well as to stop me from going too crazy by imposing a certain discipline wrt both time and outlay.

    This is not to say that I do or would spend the rest of money on loose cars or expensive women -- under the plan described above, the $40 would come out of weekly-alloweable discretionary funds, not the food, rent, saving-for-house, or debt-whittling money

    But *that* idea made me curious about whether others have such a system in place, or an intentional money-management system vis-a-vis guns and related purchases. My favorite source of money for guns is "windfalls" -- that is, for instance, minor personal losses which I considered write-offs, but from which money ended up appearing, or unexpected minor cash from odd jobs, etc. (I am the only guy *I* know who has found a $100 bill in a dumpster. If I were only so fortunate with women, but there are very few women in dumpsters.)

    Saving money is important to me; I don't need to be told that it's good for me to contribute to my IRA, etc. (That is a complicated subject, but I have one and I contribute to it.) So, except in that all things in life tend to border other things, I'm not asking about whole-life money management, only about whether you take a special approach to how you pay for guns, and if so, what it is.

    timothy

    p.s. Perhaps I'll hear from the many people who say things like "Mrs. Username has just approved a new purchase for Q01 2009!"

    p.p.s. Though I'm better at touting the book than following its advice, my favorite financial-attitude book is called The Richest Man in Babylon -- see http://en.wikipedia.org/wiki/The_Ric..._Babylon_(book) -- that book is part of the reason that I ask this question, in fact.
    Last edited by yhtomit; November 30th, 2008 at 07:26 PM. Reason: clarificationizing

  2. #2
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    ...the $40 would come out of weekly-alloweable discretionary funds, not the food, rent, saving-for-house, or debt-whittling money
    There's your problem.

    You're probably eating more than you need. Your landlord is probably open to negotiation. It's hard to take a house to the range. Debts can't follow you into the grave.

    See? You've just got to unscramble your priorities and spend more time hanging out in gun shops.
    No tyrant should ever be allowed to die a natural death.

  3. #3
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    How do you organize gun-purchase money?
    From the outside of the roll in, by 5's, 10's, & 20's, with a few lose 1's and some change in my pocket.
    "An armed society is a polite society. Manners are good when one may have to back up his acts with his life."
    Robert A. Heinlein

  4. #4
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    I have a simple system. We have x set aside for bills. We have y set aside for groceries and zhim, zher, and zkids set aside for the family. I simply take zhim and do an ATF breakdown (alcohol, tobacco, and firearms...and obviously other things I may want but do not need). Then break it down to how many estimated trips to Wal-Mart I make.

    From the ATF breakdown, I take x and put it aside to save up for a gun, take y to buy bulk ammo and Z to set aside for Wal Mart. I make somewhere between 1 and 4 trips to Wal Mart a month, and everytime I'm there, I get some .22 LR 550 Federal Bulk packs and/or some 9mm (WWB 115 gr FMJ or 147 gr JHP)...occasionally I will pick up some shotgun ammo but since I shoot it less, it takes the back burner.
    Yes, I'm a grown man that loves My Little Pony: Friendship is Magic. Got a problem?

  5. #5
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    I save my money to buy what I want. I have always had a budget. If it is a GUN or anything else that I want... I do withOUT something else and save for it. I sell something that I might not use anymore too. In the past, I used to work LONG hours. I worked for other people and later on in 'self employment'. Those extra hours paid for many things, including my guns, even though the extra taxes stunk!

    I have had a couple of firearm gifts now from my husband. Vice versa. Save up the money and put it towards something that you can use for self defense and hunting if you hunt. You can use some of your guns for 'plinking' too. You can put it towards ammunition supplies and/or reloading equipment.

    Best wishes.

    Catherine
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    It's simple really, I don't have any kids.
    I know my own nation best. That's why I despise it the most. And know and love my own people, too, the swine. I'm a patriot. A dangerous man. --Edward Abbey

    guns in movies

  7. #7
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    How do you organize gun-purchase money?
    It's simple for me.I'm undisciplined,impulsive,and love to spend money on guns and electronics.So when the spirit moves me I go on wild spending sprees, throwing my budget, discretion,caution,apostrophes, everything to the winds and( sorry Nike) Just Do It!

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    ; . ) to Johnny.

    Cate
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  9. #9
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    I tend to organize mine around any bonus' I may earn during the year. If I get paid a bonus then I take 20% of the bonus for some "reward" for myself and the other 80% is used to reduce debt or increase some savings. Other than that I sell a gun or some other unused "stuff" to fund gun purchases.

  10. #10
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    I am retired USMC have a great Job.......No Kids....no wife...No car payment..
    $400 house payment I buy when the urge interest me.....like 5 or 6 a year
    It does not take a majority to prevail, but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men....

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    All joking aside, budget problems are no laughing matter. I'd suggest you make out a budget. At the top, put all your sources of income. At the bottom, list all your expenses, starting with taxes, then food/housing/utilities/debt payments, then optional things like phones, entertainment, etc. Include "guns" as a line item, as your budget for all gun stuff (ammo, new guns, supplies, targets, whatever). If the income total is greater than the expenses total, some adjusting is in order.

    Once it all balances out, go to your bank and open a new account. Set up an automatic transfer from your regular account to the new one in the amount of your "guns" budget. Get a debit card set up for that account and use it to pay for all gun-related stuff.
    It's 2 AM....do you know where your rights are?

    "Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so." -- Douglas Adams

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  12. #12
    I just save all my change. Minus pennies. You will be shocked at how much you will save by using paper money for all your buying and save the change you get back in return. This is my "gun money".

  13. #13
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    I travel extensively for work. When on the road I get per diem for meals and my hotels are paid for by the company. I eat cheap when I travel. I've learned to cook in a thermos, I pick-up microwave meals at Wal-mart, etc. A typical overnight trip gives me $70 to $126 in per diem, plus I belong to hotel clubs that give me point which I can redeem for store gift cards. The per diem is applied to my personal VISA card so that paying that card does not come out of my regular budget. I use that card for my firearms purchases, and I get points for expenditures on the card as well. The points are used for gift cards that are used to buy most of the ammo. A $25 gift card and $6 cash gets me 100rnds of 45acp at Walmart. A card and $17 gets me 100rnds of .223. One card equals 2 boxes of .308 or 30-06, or 9 boxes of 12 gauge slugs, or 2 550rnd boxes of .22. None of which my wife kvetches about because none of it impacts our carefully balanced budget. It's all "off the books" and she considers me very clever for satisfying my hobby without affecting the house budget and so I do all of this and all my wife does is smile! Then there's my annual bonus...

    John

  14. #14
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    I figure I collect about $30 a month in loose change in my change bowl.

    Times 12 equals $360.

    I spotted a neat thing in one of the dollar stores the other day. It's a container with a piggy-bank slot in it, but it measures the coins as they go in and counts up the total on a digital display.

    I think I'm going to get one just for the "coolneatwowness" of it.

    I normally just budget gun stuff into my budget.

    By the way, if you want some money magic, just try budgeting. Doesn't have to be any elaborate system, just a list of normal incomes and expenditures. Even rough estimates will do.

    For those of you who have no sense of the "magical," you won't believe it, but putting "budget energy" into the Universe really works.

    Like magic.

  15. #15
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    How do you organize gun-purchase money?
    Now days I can buy whatever I want but in years past my Wife and I had a system that worked great.

    Every payday we got a fixed amount for "personal money".
    At first this was only $15 but as my pay increased it was $400 a payday.
    So after a while whenever I wanted a gun, reloading equipment, etc, I already had the money.

    Usually I would have a few hundred put aside and my Wife would have a few thousand.

  16. #16
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    Money from side jobs goes into one of three jars -- charity, dental work (still need 2 or 3 crowns. They're expensive), and gun related.
    "Whom have I in heaven but you
    And beside you I desire nothing on earth." --PS 73

  17. #17
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    By the way, if you want some money magic, just try budgeting. Doesn't have to be any elaborate system, just a list of normal incomes and expenditures. Even rough estimates will do.
    +1

    My Wife and I came up with a few systems, lived within our means, and after a while were able to pay cash for everything, including the house, cars, tractors, motorcycles, EVERYTHING. I haven't financed anything in about 30 years now.

    But first you have to stop throwing away money in finance charges.

  18. #18
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    When I pay all my bills and put some into savings (try to put a couple hundred in each paycheck, no excuses) I decide whether I can spend money on toys. Usually it's guns, electronics or musical equipment.

    Although I have been known to impulsively charge something to my credit card without knowledge of what I even have in the bank. This doesn't happen often and as a rule (unwritten but followed to a T due to the fact that I get boo-boo tummy every time I buy something over 200 dollars) I don't spend more than 500 dollars on a credit card unless I've known about it for weeks.

    I guess you could say I am conservative with my money but I NEED my hobbies. I would rather eat Ramen noodles for a month then go without the gun I think/know I need.

  19. #19
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    Debts can't follow you into the grave.

    No, but your estate executor will be responsible for the lack of liquidity - and it will make their lives a living hell until a judge renders a decision to stiff the creditors. They, in turn, jack up prices, and the decedant's debt becomes your burden at the store. Now you have less to spend on guns.

    The debt sentiment is also part of the present economic downturn and imminent installation of an anti gun administration. Wall Street didn't care who was going to hold the bag on the debt if there was a downturn. Now, it's on us. I expect lots of new taxes and economic instability to follow, endangering my job, and further reducing my cash flow, and that of the government. It could get to be a really vicious spiral.

    Ergo, even less of us can buy what we need, much less the luxury of several firearms a year.

    Debt tself is the focal point of a lot of negative issues in life. Don't be in debt, and it's hard to lose what you have, and much easier to protect it.

    I pay cash. I don't care what my debt rating is. Own the house, cars, etc. One credit card. It's not hard to do. You have to be disciplined, exactly what you need to carry a firearm and use it anyway.

  20. #20
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    I have a jar that I put coins and ones in. It works pretty well. Often whe I get the urge to go out for dinner or if I am out somewhere and hungry I will force myself to forgo that luxury and put half of what I would have spent into the jar.
    Considering how often the question of "which .22lr is best?" gets asked, I figured I'd put my answer in the sig line. CZech 'em out.
    The science of "knockdown power": Thar be dragons!
    Whatever happened to deck guns?

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    (thinking)...If I skip lunches and breaks, that's $7 a week, times 3 weeks, equals 1 magazine... Plasma, how much do they pay for plasma... probably not enough for a new 308...(/thinking)
    To disarm the people is the best and most effectual way to enslave them..........George Mason

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  22. #22
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    They had a segment on the local news about sperm donors . .I guess you can get up to $100 a pop and do it twice a week.





    (Sorry, couldn't resist )

  23. #23
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    If you're raising kids, it's hard to set aside money for anything. But, once the kids are grown and gone, you realize that you can save money.

    I remember being young and broke. Now I'm older and not broke and I have more guns now than I did then.

    Learn to pay yourself first. Put aside a little and leave it there. A good savings plan is a joy to behold and after eight or nine years you learn all about the magic of compound interest.

  24. #24
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    PawPaw --

    "Pay yourself first" is one of my favorite financial maxims -- that's one of the key lessons of the book I mentioned in the original post, in fact. I read it around age 12, and since then have generally been OK financially approximately to the degree that I have followed the advice it contains (That is to say, not all the time, but my own fault when I haven't.)

    I'm a fan of (voluntary) forced savings -- hence, an IRA, a down-payment fund, and some smaller pots of this variety -- small amounts trickling in make for pleasant counting when the time is due. I like the idea of every several months at least being *able* to buy a gun at a personally financed "discount" If I tune it for $500/3 months, and snoop for good used bargains, the pot will also grow. The next few items on that particular wishlist run $500 or less retail, too.

    timothy

  25. #25
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    I tend to use recycling money for ammo, and usually use 'on call' pay or mileage checks to pay for my goodies since it's not really taking out of my check. I usually sit on enough money to buy my next gun when I find a good deal on it. I'm very cheap and patient. I live cheap, work hard, and so far it's working out!
    -Justin
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