Hot Rods Do you keep track of how much money you spend on your Hot Rod

Hell,no way! I'm trying to hold on to what's left of my sanity as best I can, and if I kept track of my expenses that track would finally lead to a rubber room and a jacket that does up at the back. Asking an Englishman to keep track of how much it costs in gas to keep running a V8 is another surefire way to the booby hatch.
Paul

 

I think most of us playing with old cars have a rough idea of costs anyway so specific amounts aren't really necessary. I keep reciepts for just about everything except my cars. For me, the ignorance is bliss course works best. My wife works on the cars too, and feels the same way.

Erik
WARLORDS C.C. -We remember the past and CHOOSE to repeat it!

 

nope

 

I throw all my receipts in a cardboard box, some day I might add it all up but I doubt it.

 

I have been spending money on this thing for 43 years. Bought sold and lost parts and money for years. Don't wont to know.

 

Myself I do not keep track of how much I spend.

 

Can't help myself, I am in buisness and receipts and a ledger of cash/no receipt expenditures are a natural so, yes, I keep a log book and a few years ago before I had "Good" insurance, my Model A Phaeton was hit by a teenage girl on her phone and the insurance company wanted to give me $500.00, we argued for months even after telling them of the receipts I had, then I copied them and sent them to the supervisor via certified mail and a week later I had a check for $7800.00 to repair the car, just saying in that case it saved my ass! Think about it....

 

i keep track of the beer & whiskey , then times two = parts.

 

I track most of my costs but I don't add it up unless I need to. I don't track my own labor. I don't see any reason to share this info with the woman, and she's smart enough not to ask.

 

I kept a log on my '41 Ford build along with all part numbers, and a list of parts I got at the junk yards. I was surprized at how much the cost was to build a car. As for the wife she was suprized it was cheaper then she was thinking, she was way over the cost.

 

Lotsa good advice here... drinkin..yep...double the projected budget ....yep, avoiding Imelda proportions of shoes..yep.
The latest creation is for my darling wife so of course there can be 'over expenditure' with marital blessing.
Like has been said here, a rough tally in your head should be enough unless the worst happens and then the reciepts in a folder will come in handy for insurance purposes.
May we never have to do those calculations.

 

I have built several cars over the years and never thought about keeping tabs on money spent but,,,

For some unknown reason when I started the Wagon almost 8 years ago I started dropping the receipts in a filing cabinet.

You guys know how you initially figure you can build a car on the low buck side and somehow it spirals out of control,,one idea changes and you decide to do it right instead of half way,,then you find extensive problems with the body which can't be fixed without substantial sheet metal replacement.

Then you come to the realization that the parts you need are not commercially available ,,so what do you do but go out and buy a sheet metal brake,sand blaster,shrinker/streacher,mig welder and various other tools you don't already have in your inventory.

Guess what,,you went over your original projected budget just getting prepared to do the build,,and in my case all this extensive body repair was something I had never done in my life,,

With help from a fellow club member and asking a lot of questions here on the Hamb I accomplished what I started out to do,,and hopefully by the upcoming year I will finally be able to enjoy this money pit.

What does all this long drawn story have to do with what it cost,,well,forget about the cost of the tools I had to end up buying to build this former rust pile of poo,forget that most of the blood,sweat and tears and labor was preformed by me and my pal Dave,,

Only the final body work and paint was farmed out and that went over my initial projected budget.

I have a long way to go yet but most of the parts are already paid for including the cost of the upholstery.

So at this point in time the drawer in the filing cabinet is packed full and I just added the paid bill for the Chrome Plating.

To be perfectly honest I don't know and I don't think I want to know how much I have spent on this car but one thing I do know,,had I not joined the Hamb that car would still be in the barn and probably would have finished rotting away where it sat and I would have a lot more money in the bank.

But ,I would not have learned the skills,met the great people and acquired the knowledge and learned how to type had it not been for the Hamb and all the positive comments from all you guys.

Long story short,,I just invested all the hard earned fun tickets on my higher education and the wagon is like my class project. HRP

 

I have all my receipts in a drawer in my tool cabinet. Never added all of them up and probably never will. My grandpa user to track down to the penny, that would drive me crazy knowing how much money I spent on it.

 

Keeping track of everything? Sand paper, wiring, oil, grease?

I could see keeping track of the "big" stuff, but I won't do that with the small things that I would need in my shop anyway..

I can look at the car and I mentally know how much each piece was. If you write it down your wife can find it and you can throw your hobby out the window.. ha! Leave no evidence!

Actually I do all my cars on a "shoe-string" budget. Compared to what others spend on their cars... shoot, the wife has nothing to complain about.

 

My wife keeps track and lets me know about every day !!!!!!! LOL
Tom (Tired Old Man)

 

Another thing I might add,,I read where someone said a rough figure would be good for insurance purposes if the unthinkable was to happen,,fire,flood or whatever.

I recently took a policy out on both my non-operating cars,the wagon and my 32 coupe,,

This kind of insurance is very reasonable and could be a potential life saver if the worst were to happen,, and I should have done it long ago. HRP

 

I'm doing it for my first build and it's already scaring me... But I'll continue 'til the end, i'm curious.

 

Nope, sure don't. No reason to.

 

Great insight from Oldguard concerning insurance and claims. I have every receipt and keep a folder for each car. It helps me sometimes when i think I have already bought the part twice. I also went through an insurance claim and the receipts pulled me through, non-car people have no clue as to value of parts let alone the cars. Years ago I did some addition and it got scary. I do not even measure the hours. If it was all about the money it would not be fun, this is what I grew up with and it is routed as part of me. I would not change it. I have heard some car guys talk about nothing but money, value,and what "Joe" spent. It seems some people are always evaluating your car or others. Nothing more of a turn off than the big question " How much did you pay for it, if you don't mind me asking?" . Thats just rude! I do not even want to know what someone paid for it. If they are happy I am glad for them. I think some keep track of your money spent more than you do yourself.

 

I keep all the receipts and box end part numbers in a B&M shifter box...

I figure I have about $20K in a car that has NO bodywork and NO interior... That's because I bought the cheap part first, then I had to buy the right part later.

The current project is being done on a budget... the original $1500 price tag, then sell/trade the leftovers from the last project and take useless stuff to the recycler to pay for what I need (1980's Cast iron SBC intakes are worth more in scrap then anybody would pay for it.). I know that there will have to be little parts that NEED to be bought for safety's sake (tires, brake parts, steering u-joints, belts, hoses, wiring), but so far, I'm still at $1500... gotta love a $100 S10 donor.

 

I never did more than stuff the receipts in a folder until I restored a 71 Corvette for a family friend. He was paying for all of the parts and outsourced work, while I donated the sweat. This was a full gut, frame off, big time restoration.

I logged every part and every bit of time into a spread sheet. It was scary when I totaled it all up. Over 800 hours of my time and about $30K in parts and outsourced things.

After that I restored the Raven and since it was mine I just stuffed the receipts in a folder. As far as time, it was probably another 800 hours. I am deathly afraid to add up the receipts.

When it comes to spending money on cars most men make irrational decisions and then spend the rest of their lives trying to rationalize them.

 

You can't take it with you so why save it for your kids to spend. Spend it while your here.That's what my dad did and I'm doing it with my son. He will reap some benifits though. One of my keepers is my high school car. ( first car,first wife) He's helping with it now along with the other builds.
I keep track on my own builds only because I half to on customer builds. Always over budget, always waiting for more $$$. It's the nature of the beast.

Lots of interesting point of views here. and it allways good to keep the wife thinking that that one cool build your doing is for her. lol

 

I haven't kept good track thus far. I know some of the prices of some of the "big things" like parts for the actual car, I don't keep track of the supplies or miscellaneous.

I have a ball-park number in my head.

 

I love this comment, I just spend until the wife reigns me in and drink alot to make myself feel better when she shows me how much I have spent

 

Unless you're in it as a business for profit, adding up receipts and logging hours serves no purpose but to discourage you. It's like computing the depreciation on a new car and ruining the "new car smell".

Few guys can sell a car based on what they got into it, so what difference does adding up costs accomplish except to upset your wife?

 

What self respectin' rodder builds a car for profit? It's not on the list of performance inhancements we are trying to knock down.

 

On my personal builds I keep all receipts in a folder for the project and never add it up. If for some reason I decide to sell then I may look to see what I have in it as a guide on what to ask. It never mattered to me what a project cost as long as I had the funds and I liked what I was doing. Several projects I put way more into it than I will ever get out but I drive them and am happy with it and thats what matters to me.

 

I do.

How are you going to know what the next project will cost?

Rich

 

No...Once I'm committed to a project It's gonna get finished regardless of the cost. Why make myself sick. I just throw the parts receipts in a box just in case.

 

yea dont do it! it would drive you nuts! i dont even know what you are talking about?