Wednesday, January 4, 2012

Second Annual Stash Budget Accounting: 2011

Last year, prompted by all the talk on message boards and in blogs about how the current economy changed, and continues to change, the stitching industry, I decided to track my own spending.

Grand Total Spent in 2010: $630.97
Grand Total Spent in 2011: $981.26

… and now for the 2011 breakdown:
On Charts: $ 46.49
On Fibers: $284.33
On Fabrics: $ 54.00
On Embellishments [Beads, buttons]: $ 6.20

On Tools and Accessories: $ 36.24
On Framing: ---------
On Books, Magazines and Subscriptions: ---------
On Classes and Retreats: $450.00
EGA Membership: $ 60.00

And on the ever present shipping/handling: $ 44.06

Since I have continued to stitch primarily from stash, it is not surprising that my biggest expenditure has been on classes with floss, fiber, fabric and tools combining at $427.26 to make the next largest expenditure. As for the shipping and handling, with the exception of a few runs to Michael's or A.C. Moore for DMC, all my ordering has been done with out-of-state shops in Virginia, Utah and California. I regret that there is no LNS in my area.

I will be working primarily on old class projects and WIPs and UFOs in 2012. As a result, I expect spending to shift from materials to finishing. Framing will be my big expense in 2012. And since framing is so very expensive, I may have to skip my usual Stitcher's Hideaway this year. I had hoped to do The Alumni Retreat this year but I think I may wait a bit and see how things go. I can always do the October Mystic Hideaway if the finances are all rosy. I am sure I have missed a few expenditures here and there but, for the most part, this is a pretty fair estimation of spending this year. Now, if the fates would just cooperate and send someone to open up a brick and mortar LNS within a reasonable distance, I could save $50 a year on shipping and handling charges ... or am I being too selfish ... I don't know, major small business investment vs my personal convenience ... Nah!!!!


Rachel S-H said...

I envy your willingness to do an accounting of your expenses. I think I would make myself sick if I did that. But I am definitely on the wagon this year and limiting expenses. I think stitching the old UFOs will help, once I find where I stashed the floss I stole from them to work on other projects, LOL.

Chris said...

I need to get better at keeping track of this. I was way over budget for last year. Like you I need to finish some of those projects that have been around for awhile.

Kay said...

You are a brave woman to do the "adding up"! I like to think I get many things at a good price, from Ebay, 123 Board member sales, etc., but still probably spend more than I should!

pandy said...

your auditing made me look at my own, and last year I spent 528 dollars on this hobby (including the shipping since I don't have a local store either). I.. am not proud of that at all. I don't even want to look at 2010 (I save all emails so it's just a matter of searching for them.) It's really hardened my resolve about no new stash this year. I have more than enough to work on for the next year/2 years, and I don't need any more scissors!

Shari said...

wow...scary thought to track the spending...but...I am sure it would be an eye opener for me...
gee, we are only at the 5th of this year..wonder if I can keep track?!?!