Financially where do you draw the line?

[Boxofpurplerocks]

I tend to draw the line when it cuts into other essential items in my budget. Like another poster mentioned, I have a budget for retirement, emergency,savings, weekly spending, etc. Some weeks I spend more and take this money out of my weekly grocery budget or "social" budget, but if I exceed those budgets and had to put less into savings or dip into emergency fund, this would be a no-go.

 

[Joshua Mummery]

I usually draw the line for the month when the wife threaten to divorse me over coral or eqiupment. hahahahaa

 

[Jon Fishman]

I ordered a custom-built 8’ long tank, to replace the tank I got in late February that was a replacement for the tank I bought in January....... So I am on my third tank this calendar year...... what’s the question again? I’m gonna have to grab a dictionary and look up this “budget” word that is being thrown around.

 

[Hitman]

As long as my bills are paid I have tank,coral, and fish money. Just don’t let the wife know!!! Lol

 

[User1]

Replied no here. With any hobby things can get out of control quickly be it wood working tools, sewing machines, aquariums, scuba diving, cars, or any others. I can't keep up with the Jones's let alone latest technology dance so work with what I have and it takes a long time for my tanks to mature.

My better half years ago laid out some rules for us to start our talks / negotiation with regards to our hobbies. My hobbies had a higher upfront cost than hers so to speak but in the end run about the same. I was heavy into scuba diving and HPED events. She is into collecting wine. Her request is that I need to be able to walk away from it if something goes wrong. That was her only requirement. Both physically, financially, and mentally.

Reef keeping isn't much different. I wanted everything but with children still in college I made changes along the way to include selling my track car, using dry pukani rock instead of TBS, and put more money into the tank and other supporting items to hopefully hold it together better and longer while not getting 300 gallons of water on our floors. The rest comes with time.

The bane of this hobby is patience and boy is that a tough nut to crack...

 

[fish farmer]

I just saved $1,600 on home/car insurance....I could drop that on my boat right now.

I voted no. I don't budget for my reef, it is only a 29 gallon so routine expenses are less than for a large system. I think the thing that really "hurts the wallet" is the unexpected expenses, like return pump going down or maybe my LED fixture. I still use the same skimmer from the early 2000's.

 

[rogersb]

We have 3 bank accounts. The main account gets most of our money and we decide on major purchases together from that account. The other two are our personal accounts and we don't have to run anything past the other when using that money. That's the account that I get to spend on any hobby. I rarely have more than $1000 in that small account so purchases have to be limited.

 

[RichtheReefer21]

#honestyinreefing

I try to save and DIY every single thing I can. But sometimes the "just gotta have it" takes over and starts dropping bombs on the side of my brain that responsibility resides in. ;Sorry

 

[dean.reef]

No stupid money for frags!

 

[zaba859]

3rd month in marine hobby and i spent twice more than i planed. Who knew?...

 

[Jman76]

At first, was spending like crazy. Now I try not to spend anything, need to save for upgrade...SCA 90 gal

 

[ca1ore]

I buy everything used.

It just makes sense.

Not for me, it doesn't - but, I've been in the hobby for decades and plan at least a couple more. Buying new costs more up front of course, but ends up being lower cost of ownership in the long term. If you're 2-years-and-out then maybe buying used does make sense.

 

[ca1ore]

3rd month in marine hobby and i spent twice more than i planed. Who knew?...

uh ….. most everybody LOL

 

[dwest]

I voted no, I don’t overspend.

My wife voted yes, I do overspend.

 

[cain720]

I think there's a difference in what you can buy and what you can actually afford.

If you aren't contributing to retirement/emergency fund/investments because you're spending all of your extra income on your tank, you cannot afford it.

I could spend $800 on a Radion now or put that into an IRA and turn it into ~$22k by the time I retire.

 

[Brew12]

We have 3 bank accounts. The main account gets most of our money and we decide on major purchases together from that account. The other two are our personal accounts and we don't have to run anything past the other when using that money. That's the account that I get to spend on any hobby. I rarely have more than $1000 in that small account so purchases have to be limited.

My wife and I do something very similar. Mine funds golf and my reef tank. Her's funds her beach trips and clothes. No arguing over how much something costs or worrying how it impacts the family budget. One nice thing with this hobby is that the costs go down significantly once the equipment is purchased and healthy livestock in place. With no room for new coral and little for fish my spending has gone way down. Combined with the cruddy weather (limited golf) from last year and I used some of my fun money to pay off her student loans.

 

[Jvesche20]

I go into my lfs saying only $50 and end up spending $200. Then I get home and wonder where all my money went.

 

[Nep2n]

Back in the day, I'd spend money on my tank then have to eat bologna for the next 2 weeks but that's been some time ago. My "means" has improved greatly in that time.

 

[Cory]

My philosophy is once the bills are paid the rest is for fun. And for me tank stuff is fun so i spend what i can on the tank.

 

[ReefGeezer]

It has all become beyond my means! I keep the tank running and and try to get good results for the few corals & fish I have with the equipment I have acquired over the years. I spend a little on ASW mix and DI resin, maybe a little GFO, and frozen food, but that's about it. Maybe where a decent house costs a $1M plus, $125 bucks for a 3/4" frag seems reasonable. But here, where the same house costs about $200K, it's stupid expensive.