Hot Rods How do You support your (hot rod) addiction?!

10% is a lot of waste that could go to racing.

 

I buy high and sell low!

 

I agree. Only reason I got my 2 cards was to build my credit up since I basically didn’t have much of a credit history , I had always paid cash, so when I went to finance a truck, I had a hard time getting approved. My cards have mostly been used for business items when the income was low, or parts for the drivers, never bought anything for the toys on credit.
Your friend is telling the truth, I’ve been a owner operator trucker for 23 years now, I gross around $150,000 a year, but get to keep damn little of it. It goes thru my hands to someone else all to often.

 

I figured out a long time ago about knowing how and where I spent my money. I also learned the value of a budget and staying one one, and that comes from a guy that is self employed with no steady income. Some weeks, my income could be $5, but the next week it may have been $1500 or more, but the next 2 weeks it might have been $100 each week.

If you really don't know where the money you made last year went, I suggest you get a sheet of paper and write down what you spent every dollar on for a month. Then write down how much each bill you have cost you. You may have to track your spending for 3-4 months, but I suspect your going to see things you are spending a lot of money on that are pretty useless.

Quit wasting your money! Develop a budget that will cover the bills you need to pay, set some aside for some things you know are coming (gas, license plates & insurance, house tax, might be good examples), set some aside some to put into savings for when an emergency happens (the water heater blows up, or the fridge breaks down, or the car you have to drive to work breaks down) and put some in a savings account for when you get old. Even after all that, I'll bet you will see places where you may find the funding for a hot rod.

A really good investment might be buying the Dave Ramsey Financial Peace University tapes and applying the lessons in it you your life.

There is not much of an excuse for making $150K a year and not knowing where it went. Gene

 

Full-time automotive engineer for the 5th largest global automaker.
Part-time welder and metal fabricator.
Part-time chassis designer.
Part-time machinist.
Part-time vintage auto parts broker.
Part-time licensed and bonded vehicle verifier.

If I am awake, I am working. Our household bills are paid out of a joint checking account, into which I put exactly what the household bills amount to, plus emergency money. The rest of my paycheck goes into a high-interest account, that only I have access to. The wife has her own account. We have no kids. I welded my way through college, so no loans.

I can tell you, down to the dollar, where every dollar is, or went.

I have a budget, for everything, and I stick to it.

 

Started own business after 10 years with others. Did that for 30 years working sometimes up to 60 hours a week and then sold to our professional staff. Then retired at 60 yo and now 70 yo.
Always found money for cars and at present have 3 that I like all finished?? but they still need some attention and always thinking of making improvements. Maybe one more project to go. Sell two O/T cars(now both collectible here as Holden no longer makes V8's) and buy new one for wife/joint use and then a pickup for me maybe like an early C10. No wallets in a coffin!!!

 

Have been in business for 20 years. Some good years some bad years, some good decisions some bad decisions.

During a rough time early on, I spoke with my insurance guy who is a race car guy, and he gave me some great advice - when the dollars are tight, lock the door on your car shed and dont spend what you cant afford. So in the good times I accumulated all manner of cool stuff, and spent on my projects and when things got tough, I just lock the shed.

Now I have decided to only work on projects I will finish so am selling of my stash of cool stuff that I will never use and thats helping to fund the current projects.

In hindsight, years ago I should have bought other folks finished projects, and spent the years out cruising the highways, but theres this bit inside of me that wants to find a "pile of crap car with potenial" and turn it into an even way more expensive "pile of crap car with potential".

And that appears to be one of my superpowers.....

 

I've always been frugal, and try to do as much as I can on my hot rods, dailies, and home. Didn't get bad habits, and pick up good deals on parts for the projects as they come up. My wife has similar attitude when it comes to spending, so no arguments
I retired last year, on a small pension from work, she still works a part time schedule, and since we plan to keep the existing lifestyle, will still be able to work on my cars, and do the other stuff that comes along.
Bottom line, keep track of the cash flow, shop for the good deals, and we're good.

 

I try to be frugal and sensible with my expenditures; however, I am not retired, and my time is not free.

A good example of what I mean is my wife's car goes to a shop for service. It would cost me more in billable hours to do it myself, so someone else gets paid to do it.

Bonus: I am supporting small business in my community.

 

When I thought I was dying from Cancer, I kinda said F-It, and spent money.
When I didn't die, we used the money from calendar sales to pay for parts and projets (ahhhh the good old days)
Now we plan and scrimp to reach the goal of 200 mph in the next 5 years, along with keeping the too many hot rods, and race vehicles running, cause some we will never sell. I'd rather die with my racing shoes on,,,,,

 

While in the military I learned to be frugal, and many other lessons.
I worked on GA planes and restored others while in service.

The main thing is I learned "It's not how much you make ,but how you manage What you make".

Also it helps to marry well. She didn't have anything but I married well.

 

We rob banks

 

eBay...…………..photograph the POS, (NON automotive stuff sells well too) put a price on it with an ACCURATE description, Sell it, Box it, Mail it ............… REPETE.

My 1911 Hupmobile was FREE using the above steps.

Bob

 

I'm a soldier of fortune, but too old to be drafted and no fortune to feed the jones. That's why shit takes so long and is done with old school tools and procedures.

Ok, not really. I just happen to live last on my list of cars to do because I got bills and shit that the other cars pay for. If someone near me wants a job it's possible we can be big time addicts

 

I used to do a lot of automotive flea markets in my younger years, and it helped to supply my hot rod habit. Now, I am 78 years old, I do 2 flea markets a year, and wonder how am I going to get rid of the parts that I have accumulated. Time have changed.

 

I am a welder/fabricator we build high end ball and stick sports equipment.
If you have watched a Super bowl or regular N.F.L. or college football game you have seen our work. We are the largest builder of goal post Pro, College, and High School.
We build soccer goals, track and field equipment
Now we are the main builder of the home plate netting, support post and cabling for Major League Baseball.
Ironically I can't stand ball and stick activities.

I also wheel and deal in vintage oval track parts, speed equipment, and auto parts.

Miller welder promo shot in the shop a few years ago, I am the one in the silver helmet I am interviewed about 1:50 minutes


ABC news report-
https://abcnews.go.com/WNT/video/goal-posts-turf-made-america-companies-hand-super-52808916

 

Never had hot rod money when I worked and had kids at home, but I've always paid for my hobby by trading, selling, offering to kiss the odd ass, whatever it took outside of house money, which I never touched, kids and groceries more important. BUT, now that I'm retired, got more hot rod money than I need, thanks to sticking to the financial plan all the years I worked, tough as it was. Barely able to afford one running car while I worked, but got two now, life is good. I tried hard to remember back then that in the end, they are just cars, not the be all to end all, and despite being without one for awhile, I still participated in the life style, and that was what mattered. I built cars for others, don't anymore, but it has been a great hobby.

 

I agree, even in retirement I ask myself is this project or repair worth my time. My problem is, that I am so self reliant that I end up doing the repair, even when I know I should hire someone to do the job.
It is just part of my personality, or as my wife defines it, my illness.
Bob

 

How do I pay for my Hot Rod stuff? I work my ass off all the time. I don't expect any hand out's from anybody . And I don't respect anybody looking for one . Work as hard as I do and I'll help you with your Shit.

 

Well you raised your dog to enjoy the finer things in life looks like the dog is waiting for a dry Martini with 3 olives and a handsome German Shepard to walk by

 

I just live vicariously through you guys

 

BOW, WOW, WOW......

 

Well I realized if I stop working I will not have any hot rods. I am 65 ehhh!

 

Get a check from the government 2 times a month. Keep paying your taxes !

 

And here I always thought an asset was a little donkey...

 

I married better the third time. This wife (unlike wives one and two) understands that working on cars is my mental health therapy (and is tax deductible...I wish).

Her hobby/side business is metal sculpture, which does generate income as well as require decent equipment to be productive. I am living the dream!!

 

I have deeper pockets than most, but I try to keep it in perspective. I'm thrifty by nature and can't justify an expensive build, although what I do is right and I spend my money once... most of the time. I'm about $20k in savings away from having to tap into the 401k thing. Probably 6 months away from retirement. I should be able to live just about the same as I do now. I hustle used parts now and then, take in some machine shop work too. I did a side gig in a machine shop for 30+ years, the 2016 heart attack was a message to slow down.

 

Castrol SAE 30 injected straight to the veins. Old car magazines also do the trick. Anything from the 1950s, 60s, and early 70s. The smell. The feel of the pages. Nothing looks old. Everyone is its own time machine. Flip that first page, and I'm gone man.... You have to keep your interest up in order to trade, bargain, and work for what you want. Morale keeps me going.

 

Hi
Support it ? I reverse that like I reverse a blown engine or a rusty fender . I bring mine back to life by bringing others cars back to life . SS only pays for storage , a can of Deep Creep and a strip of 500 Elektrocut