# So you have 50 bucks?



## scrollsawwoodart (Jul 31, 2011)

Just for fun, lets say you only had 50 bucks a month dedicated to spending on pen turning.  You want to get the most for your money.  You can go over the 50 on shipping but you only have 50 bucks for the goodies....

What kits would you buy so you would have enough kits to last you the month?

If you are a caster what colors would you buy to try out?

I am in no way saying that the loml has put me on a budget because I am a total addict and get cold sweats when it comes time to purchase my 50 bucks worth:wink::biggrin:

Jesse


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## terryf (Jul 31, 2011)

Buy a Venus, spend three weeks creating the perfect segmented blank, three days prepping the blank, honing the tools etc, and the last four days meticulously turning, sanding, CA finish, MM to 12000.

At $40 an hour for labour and working one hour a day you have a $1200 pen!! 

But seriously, if I only had 50 bucks I'd buy 5 or 6 cigars and few Jr Gents/Sierra's or perhaps the new Virage from Berea.

In terms of casting, I use the primaries in powder form plus white and black as well as a few pearls so I don't have an arsenal of different colors.

Enjoy the spending


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## ed4copies (Jul 31, 2011)

Sounds like we need to redefine the problem:

Make a GORGEOUS pen--whatever flavor is LOYL's favorite.  REALLY suited to her personality.  Ya gotta make it so you KNOW she will kill for it (but you have to run faster than she can, for this to work).

Now, when she SEES the pen and starts drooling, tell her in your most sincere voice that you would normally be THRILLED to give it to her, BUT with your new financial restrictions, you just CAN'T afford to be that generous!!!

NOW, if you had a HIGHER budget, you could MAKE pens for her and her friends---

See where that conversation goes---good luck!!!

AS to your initial question, if you just want to make pens for the sake of turning, buy cigar kits.  Nice pen, fairly cheap (Chrome) and enough material to give you some satisfaction when you see the finished product.

Enjoy!!


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## scrollsawwoodart (Jul 31, 2011)

Ed do you think it would be a good idea to tell her you would give it to her but you are already committed to giving it to another young lady or would that lead to having to run faster than a car?:biggrin:

This is just to fun!


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## SGM Retired (Jul 31, 2011)

+1 on Ed's idea. Not sure if I would try the finacial trick on the better half, I know where that would get me even if I am a Sergeant Major Retired. I like those Cigar pens!!
Gary


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## ed4copies (Jul 31, 2011)

scrollsawwoodart said:


> Ed do you think it would be a good idea to tell her you would give it to her but you are already committed to giving it to another young lady or would that lead to having to run faster than a car?:biggrin:
> 
> This is just to fun!




Just a bit TOO risky!!

Could lead to giving her HALF OF ALL YOUR STUFF, by court order!!! 

(About 50% of the male population can explain that to you, if it is unclear!!)

Of course, if you are currently controlling LESS than 50% of your income.............


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## IPD_Mrs (Jul 31, 2011)

scrollsawwoodart said:


> Ed do you think it would be a good idea to tell her you would give it to her but you are already committed to giving it to another young lady or would that lead to having to run faster than a car?:biggrin:
> 
> This is just to fun!


 
A car and perhaps a golf club to boot.   

I would buy two high quality blanks (try to get them on sale from a group buy etc.) and I would get some great materials like Terry was talking about to make something so awesome it would SELL in a NY Minute.  THEN I would take ALL the extra money from my sales and buy a couple more pens .. and repeat the process.  Now mind you I would set up an agreement with the LOYL when you get your monthly installment and make sure SHE has AGREED to your spending anything you make in ADDITION to the new budget you have ...  

Well just a thought expansion on TerryF's idea from this side of the world.

:wink:


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## scrollsawwoodart (Jul 31, 2011)

I am just a young jedi still learning... guess I will try the other route:biggrin:


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## Fibonacci (Jul 31, 2011)

IPD_Mrs said:


> I would buy two high quality blanks (try to get them on sale from a group buy etc.) and I would get some great materials like Terry was talking about to make something so awesome it would SELL in a NY Minute.  THEN I would take ALL the extra money from my sales and buy a couple more pens .. and repeat the process.



This is my system.  I have $40 a month to blow and have to "earn" whatever else I want to do.

It works pretty well for me overall.  It just sucks when you have a dry spell on sales.


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## fernhills (Aug 1, 2011)

Only spend what you earned.  I only sold one pen for $95 in July.  Soooo i got $95 dollars to spend.  I will probably spend about $40 of it, carry the rest over till next month. One trick is try to make things that you do not have to buy kits for, just wood that you have had for a long time.  Over the long term doing it this way gives you a pool of cash for your addiction. Earn some, only spend half, it works..  Carl


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## mredburn (Aug 1, 2011)

$50.00 would be the shipping costs for the month.:biggrin:


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## Rounder (Aug 1, 2011)

scrollsawwoodart said:


> Ed do you think it would be a good idea to tell her you would give it to her but you are already committed to giving it to another young lady or would that lead to having to run faster than a car?:biggrin:
> 
> This is just to fun!


 
I believe the word giving should be changed to selling. Otherwise it could lead to severe trauma about the head and shoulders from the pounding you would be liable to receive for giving to another young lady. Plus selling puts more money in your (her) pocket.
Giving to another young lady, bad idea, bad, bad idea. You couldn't out run her fast or far enough.


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## Frank Nemke sr (Aug 1, 2011)

If most men offered to giveup beer so they could spend "that money" for kits, they would have more kits than they could turn.   Then everytime a friend comes over ask him to bring a 6 pk


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## 65GTMustang (Aug 1, 2011)

This is very interesting - I like this question, I need to give it more thought.
What about a whole bunch of mini en key chains sold around 4X cost and build from there???
Not exactly a lot of fun involved but we are talking dollars and cents right?
 
Do you think we can talk Seamus into cutting the cost of State Quarters pen blanks - Perhaps we could incorporate and each States members can begin to mass produce them for all of the trinket keepsake stores for souvenirs...LOL


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## okiebugg (Aug 1, 2011)

ed4copies said:


> scrollsawwoodart said:
> 
> 
> > Ed do you think it would be a good idea to tell her you would give it to her but you are already committed to giving it to another young lady or would that lead to having to run faster than a car?:biggrin:
> ...


 
At my house, my wife controls 95% of the finances and 100% of the good stuff.
Sorry for getting off topic, but I couldn't resist.


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## biednick (Aug 1, 2011)

I'll soon be in the same boat. I already have lots of wood, so  my plan is t buy 5 or 6 slim lines, a nicer kit or 2 (something like an ultra cigar or roller ball/fountain pen) and spend whatever is left on blanks.


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## sbell111 (Aug 1, 2011)

fernhills said:


> Only spend what you earned.  I only sold one pen for $95 in July.  Soooo i got $95 dollars to spend.  I will probably spend about $40 of it, carry the rest over till next month. One trick is try to make things that you do not have to buy kits for, just wood that you have had for a long time.  Over the long term doing it this way gives you a pool of cash for your addiction. Earn some, only spend half, it works..  Carl


You are forgetting that Uncle Sam gets $33 of that $95.


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## glycerine (Aug 1, 2011)

sbell111 said:


> fernhills said:
> 
> 
> > Only spend what you earned. I only sold one pen for $95 in July. Soooo i got $95 dollars to spend. I will probably spend about $40 of it, carry the rest over till next month. One trick is try to make things that you do not have to buy kits for, just wood that you have had for a long time. Over the long term doing it this way gives you a pool of cash for your addiction. Earn some, only spend half, it works.. Carl
> ...


 
What Uncle Sam doesn't know, won't hurt him!


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## BlackPearl (Aug 1, 2011)

fernhills said:


> Only spend what you earned.



Where is the fun in that??


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## BlackPearl (Aug 1, 2011)

Frank Nemke sr. said:


> If most men offered to giveup beer so they could spend "that money" for kits, they would have more kits than they could turn.   Then everytime a friend comes over ask him to bring a 6 pk



Since I still have 5 bottles out of a six pack my son brought when he came to dinner in 2008 (he drank the one) it would not get me much and I can not remember the last time someone "came over" yeah I can we had a party in June of 2001.


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## underdog (Aug 1, 2011)

You still have 5 bottles of something from 2008? :bulgy-eyes:

Isn't it skunked by now?


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## firewhatfire (Aug 1, 2011)

Take the 50 and buy her a massage and tell you were thinking about her. That you can wait till next month to get a few pen parts.  I bet you get your money's worth that month and maybe a few pen parts in return.


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## navycop (Aug 1, 2011)

I would spend $45 on pen kits and bank $5.00 that way I would never be broke. And in 5 months you would have $75 to spend.


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## workinforwood (Aug 2, 2011)

I'd be pretty upset with only $50 to spend. Really a tough question, especially if that's my budget every month regardless if I turn the 50 into several hundred. I can't think of an answer, the question has me flustered.


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## sbell111 (Aug 2, 2011)

I think that this question assumes that the individual turns purely as a hobby and also has other interests.  Certainly, it is moot for anyone who sells pens that he turns as most people would finance additional pens from pen sales.  

I surmise that the individual must have other interests because $50 discretionary spending for an entire month is really, really low.


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## Smitty37 (Aug 2, 2011)

*Hmmmm*

Since you can go over on shipping find someone who ships free calculate the shipping you'd otherwise pay and add that to each order.  Should get you about 10% - 15% more stuff.

Actually where you buy is probably as important as what you buy.  All prices are not the same.

It also depends on how much time per month you want to put into making pens and how much you put into each pen, whether you cast, segment or otherwise do special prep of your own blanks, how much time you spend on the finishing. Using your pocket knife to "rough round' the blanks will also add a little time to each pen.   

$50.00 can buy quite a few slimlines on one hand, on the other hand they don't take very long to make unless you spend a whole lot of time with the finish, which according to a number of folks her you can do.


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## Smitty37 (Aug 2, 2011)

sbell111 said:


> fernhills said:
> 
> 
> > Only spend what you earned. I only sold one pen for $95 in July. Soooo i got $95 dollars to spend. I will probably spend about $40 of it, carry the rest over till next month. One trick is try to make things that you do not have to buy kits for, just wood that you have had for a long time. Over the long term doing it this way gives you a pool of cash for your addiction. Earn some, only spend half, it works.. Carl
> ...


 
Not unless you're a lot richer and a lot worse at arithmetic than I am.


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## Smitty37 (Aug 2, 2011)

*Not*



ed4copies said:


> Sounds like we need to redefine the problem:
> 
> Make a GORGEOUS pen--whatever flavor is LOYL's favorite. REALLY suited to her personality. Ya gotta make it so you KNOW she will kill for it (but you have to run faster than she can, for this to work).
> 
> ...


 
I always chuckle at this thinking.  Ya know, I do not answer to my wife for what I spend or what I spend it on.   Also, she does not answer to me for what she spends or what she spends it on.  

The first 30 years, we spent it all on the kids (well most of it) and since then we do what we damned well please with it.  We agree on big things like cars and houses before we buy but the small stuff.....

Works for us and we've been married for 49 plus years (to each other) and neither of us has any great desire to change that.


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## glycerine (Aug 2, 2011)

Smitty37 said:


> ed4copies said:
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> > Sounds like we need to redefine the problem:
> ...


 
Sounds like she married you for your money!!!


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## sbell111 (Aug 2, 2011)

Smitty37 said:


> sbell111 said:
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> > fernhills said:
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I don't know how 'rich' you are, but I suspect that you are trying to calculate the tax based on your average tax rate.  It actually should be calculated using the marginal rate, since had he not sold that $95 pen, he still would have earned all other income for the year.


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## joefyffe (Aug 2, 2011)

Do you realize how many more  pens you could turn per month, if you weren't such a Socialite??   :biggrin::biggrin::biggrin:



BlackPearl said:


> Frank Nemke sr. said:
> 
> 
> > If most men offered to giveup beer so they could spend "that money" for kits, they would have more kits than they could turn.   Then everytime a friend comes over ask him to bring a 6 pk
> ...


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## Smitty37 (Aug 2, 2011)

sbell111 said:


> Smitty37 said:
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> > sbell111 said:
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My marginal rate is not 33%...and I assume he also had at least some expences so the entire $95.00 is not taxed.


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## Smitty37 (Aug 2, 2011)

glycerine said:


> Smitty37 said:
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> > ed4copies said:
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  Did she ever get stuck if she did.  We have one other rule - when we run out of money we stop spending.  No credit except auto's and mortgage.  We use credit cards but pay them off at the end of each month.


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## Rick P (Aug 2, 2011)

Best was to limit costs????? Stop buying blanks! Even here in Alaska where the nunmber of species of trees is very limited I am able to find outsanding blanks. In fact I find the hunt for blanks at least if not more enjoyable than turning the actual pen. I keep active and learn more about the woods I work with on every hunt for wood.


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## sbell111 (Aug 3, 2011)

Smitty37 said:


> sbell111 said:
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The expenses are a nonissue because they existed regardless of whether he sold the pen.


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## Smitty37 (Aug 3, 2011)

sbell111 said:


> Smitty37 said:
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> > sbell111 said:
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Only if none of them are selling expenses and only if it is classified as a business sale and not a hobby sale. If it is a hobby sale none of the expences are deductable until there is a sale and then only those up to the amount of the sale in which case there may very well be no profit at all and hence no tax. He simply reduced the cost of his hobby.


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## sbell111 (Aug 4, 2011)

Smitty37 said:


> sbell111 said:
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That type of logic begs an audit and very likely wouldn't survive one.


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## Smitty37 (Aug 4, 2011)

sbell111 said:


> Smitty37 said:
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A) no it doesn't and B) it certainly would.  

Expences for hobbies or "hobby" businesses can be deducted only to the extent that they are covered by sales - in short you can't write off loses for your hobby.  However income in excess of your expenses is taxable.  

Therefore, if you have hobby expenses in excess of sales and you make another sale there is no taxable income unless that sale makes total sales exceed total expenses. *Most individuals report neither the sales or the expences of their hobby*.  

Judging from what I read in various posts and threads here, most members are hobbiests who occasionally sell a few pens.  The costs associated with their hobby can be deducted from the pen sales so in effect there is no income, just a reduction in the cost of their hobby.  Doing so is perfectly legal and would certainly survive an audit in the rare event that there should be one.  

For over 20 years I operated a farm that could have been classed as a "hobby farm" but was not because I made sure that 2 out of every 5 years (as required by the tax code) I reported a profit for tax purposes.  There are perfectly legal ways to shift income and expenses between years to do such things if you are reporting using cash basis accounting.


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