The Stovebolt Site Forums The Shop Area General Truck Talk Do You keep track of the money spent on Your stovebolt???

All paid bills and receits went into a large plastic bag, and I
have never added them up, as I don't really want to know...Just
curious if anybody else feels this way.....Bill B

I keep receipts basically for any guarantees on parts and in case of a vehicle loss. This will prove to the insurer (hopefully) how much money I have invested in the truck.
As to figuring out how much I have spent on the truck, I don't. I enjoy my truck and whatever I pay out returns in pleasure for me.
Financing for all work on the truck comes from my part time jobs.

I keep a file of all the recepts (money) spent on Lucille plus a dated log on when I complete a repair and how much it cost. I'm also writing a dated journal about the experience, what specifically was wrong and how I went about correcting it. Being a novice about old trucks I'm getting a ton of help right here on the Stovebolt website from alot of super people! My '46 truck, although it looks great on the outside, has many issues related to lack of timely and proper maintenance. It will take a bit of time to bring her back so that she runs well and has no safety issues.

I also keep all receipts but also keep a running tab on my PC, right down to the penny. It's too easy to keep spending $$ unless you know where you are. And, in the interest of full disclosure, my wife also knows how much I've spent. I can think of a long list of items I "need" for my truck, but knowing what I've already got in it keeps things in check for me.

I also keep all receipts so I know the manufacture's or vendor's part numbers of the various parts I have used on the truck. I started once to keep track of money spent, but quickly saw that if I did that it would probably ruin the experience. I decided that if I kept track of the cost, that would be like keeping track of fishing lines, poles, lures, etc. and boat costs just to see how much a fish would cost you. :confused: I truly believe that is not what it's about!

Joe :crazy:

No! Too darned scary to look at!

I used to until I asked my old boss who had done over a done full restorations if there's any way to make money on a restorations. He said, "The only sure-fire way I found is stop keeping track of what you spend."

I got his point.

I kept most parts and vendor receipts in case there was any issues installing as a lot of stuff I bought prior and installed later. The things I didn't keep track of bolts/washers,rattle cans and sandpaper probably added a bundle. I remember going into Tractor Supply once and just getting a handful of this and that in the bolt and washer section and having sticker shock at the register.
Dan

I have a general idea of what she stands me, and good specific memory of what was done, and how. That's enough.

absolutely

well actually ........ yes

I do keep all receipts for a year or 2 but I never figure out what I have in one. I like the way 6COT put it.

hey ya i kepted all my truck expenses, and parts i made at work, i put that in there too & the price it would cost if i had to buy them ..........

Here ya go: $$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$

My truck is a business expense and all my receipts are in the truck file. My truck expenses will be higher than usual til I'm done, just a blip on the overall business expenses.

I don't want to know, I don't think my heart could take it.

I keep track of every little penny. I have a spreadsheet in excel (a sheet each tracking by date, category, vendor, etc). Then I scan the receipts into the computer (saved into their own folder) and then the original receipt goes into the folder in the filing cabinet.

The fun is workiing on the truck but I also like to know where my money is going.

Just my input,

I keep tabs on all project related purchases, expenses, and an estimate on time I spend.

I am finding that if you take your original estimate, multiply by 4 and change the units, you are set. (Especially if you succumb to shipfitters...)

for example, "I think it will cost me $200 to freshen up the motor".... Multiply by 4 = $800. Then change the units = $8000. Same goes for time. I think I can replace that floor in 2 days. Multiply by 4 = 8 days, change the units = 8 weeks.

What do I know, I have 4 projects going simultaneously, one daughter starting driving, Two vehicles needing some mechanical attention, an SUV currently needing tires.....

I also keep track of fuel costs (makes me wish I lived next door to work)

Scott

I agree, I got a little drunk on night and added up the receipts on my 71 corvette full restoration talk about sober up real quick. my advise, don't do it just enjoy the hobby because after all that is what it is.

I agree with 6cylindersovertexas, I have a rough estimate of what I spent, but probably forgot plenty. I do know I get a lot of satisfaction in looking at the completed truck, and the cost does not enter into it. I didn't restore it to make money, just for the enjoyment of it. When I get going on my '32 truck I have no clue as to expenditures on it, I've had it for almost 50 years and have been gathering stuff for a long time so I have forgotten plenty.

I did it for three years and I'll never do that again. I was afraid my wife would ask how much? :-)

I have saved all my receipts, punched them and put them in a 3 ring binder. When the truck is done I will add everything up and hopefully not have my third heart attack.

Weeds

I look at it like this. I am in it for the enjoyment and the end pleasure. In my case it is like my hubby, maybe in yours it’s your wife/girlfriend. You don’t tally up what you take to put into them, you enjoy what you have in the end. As most husbands will attest and some wives, an unhappy truck is the same as an unhappy wife/hubby that runs like crap. You just don’t even want to start ‘er up because you know it can get real ugly before it gets better. So you keep regular maintenance up to par, you buy what parts it needs to keep it running and smile no matter if it hurts or not. You know in the long run it is the right thing to do. One rubber necker’ who breaks their neck to see a classic is worth its weight in gold. You may have to endure some down time but if you want a real honey that makes you warm and fuzzy when you crank’er up it’s worth the time and effort. If these ole’ work horse’s lasted this long and still found someone to love them then I have to ask what the Heck is the gripe about spending a little green on them to make em’ right again? Dang if you can be rode hard and put up wet after that many years and find someone who wants to love you enough to put you back in your hay day condition I don’t think you would want them to be counting pennies for the classic ride only a few will ever experience today.

I say that you should put all of your expenses into a big box,that way you have receipts if you need them. Otherwise, STAY AWAY FROM THE BOX OR DIE OF A SEVERE MONEY HEART ATTACK!!!!


If the box was a pill bottle that would be a warning.

I don't keep track. I figure it as an entertainment expense. I could spend much more if I wasn't into trucks, and not end up with a nice truck in the end. Drinking, drugs or even flying lessons or skydiving could easily cost more than working on my trucks. It's just what trips my trigger. I would be doing something to keep myself amused, why not trucks?
Scott

If your restoring a vehicle for profit it better be a high dollar car that brings and takes up the bucks to restore. I keep a log book with receipts, part numbers , dates, hours spent, and carry over the total of dollars and hours spent to the next page. That way I have a current up to date knowledge of costs. I am always in the red, especially in the labor dept. Its cheaper to buy one done, but where is the fun you may ask...in maintaining and doing the little stuff to one vehicle at a time and... its never really done. For me, NO MORE BODY OFFS...I have had too many projects and the hobby was more of a job. I need a driver to play around with and only one. I respect those with multi vehicles though, been there...

Dave

I kept track of my time and money on my first restoration - a 39 Indian, when I added it all up. I decided to never do that again, I still keep most receipts - but I will not add them up again. I really dont care how much I put in to them though, if I am pleased with it and having fun. I already have to much in my truck, dont care I like it and its doing ok by me.

In one word........................


NO! ! ! ! ! !

Who cares it's only money & you can't take it w/you...Joe

Great replies, and I can relate and agree with most of them.
I was committed from the start of My restoration that the truck
being in the Family since new, that I would refuse to let money
be the determining factor to just how far I would go to bringing
it back to its glory day...Your time cannot be considered in
restoring a vehicle when its You doing the work, but if You have to
pay for others to do the work, that hurts big time...I really respect the stovebolters that have little experience that jump on
their trucks, many in very rough shape, and in working their butt
off, come up with darned nice looking vehicles...Stovebolts forever. Bill B

I keep track of all my expenses in a log book. It's nice to look back and say to your self " I should have never " any way when the project is finished I'll know how much to sell it for in order to at least get my money back.

Look at my before and after pics, I gave up counting 8 years into a
15 year resto, I cost me MUCHO DINERO but I think that it was worth it.....

I found out a long time ago you restore stuff for the love of it not the money .rebuilt an old harley once for a former wife .god did i have fun rebuilding the bike . 10 of the funnest months of my life to that point.kept the bike (And Dam if it didn,t look great in the one show i put her in ) got rid of her and sold the bike to pay bills/and eat after the Divorce spent 18 g,s on the bike rebuild and all sold it for a little under 11 g,s . good life leason .this time around i,m not counting to close .if you no what i mean. later Earl

I stopped keeping track of how much i had into the Ox at $10,000...

Mrs Rod only gave me $5,000 for the Binder, so I'm "kinda" keeping track of how much is left in the piggy bank... but I still need to pay off the $3500.00 that my father put into it.

I keep track of the costs to the penny. My wife is deeply involved in both projects. Decisions and suggestions, not wrenching. The car is mine but the truck is hers. If I keep a good excel spreadsheet the bank is always open. I'm lucky. What can I say? She likes to spend money. Oh by the way she is a corporate business accountant.

Yep, but I am afraid to add them up. I still have the receipts from our Nova which we sold last summer. Never added them up either. I guess its better not to know for me.

Bill - I truly feel your pain as I have a folder full of receipts that I haven't entered into my spread sheet. When I restarted my restoration I decided to keep track of the the parts, part numbers, vendors, and prices. For the most part I did a fairly good job of entering the data, even going back and entering the previous owner's receipts for his restoration efforts. Believe me, the dollar column total is a very sobering sight and can certainly slow a project down.

If you are interested here is the spreadsheet as of July 2007. You can also see the PO's cost from 1984 or so here.

There are several thousand dollars more of line items awaiting entry but I find that I'm afraid to see the new total. I posted these spreedsheets on the 'Bolt to not only assist other 'Bolter's in their restorations of similar '41 - 46 series trucks but to also provide a reality check for those considering going down the same path.

Don

Ah the scary part. I have tried to keep track and although I am not very far into my project I have already have at least 500 dollars in new tools and I have yet to even begin to spend money on the truck itself. But if want to know what the 49 chevy fleetline deluxe restoration ran me it was two fuel pumps $100 roughly total (the first went to crap after sucking up junk from the gas tank), gas tank sealant $40(cheaper then a third fuel pump, brake line $15, hoses $30 or so, and a used thermostatic valve off a 51 chevy on ebay to replace the one that leaked all over my beautiful orginal interior $70. For a grand total of $255 plus around $50 dollars for liquid wrench, degreaser, seafoam, etc. Not bad for a nearly 60 year old car. If I was only so lucky with my truck now that would have been nice.

If I get my truck, I will be lucky, because I will be restoring it in my school's Automotive Restoration classes. You only have to pay $20 for an engine rebuild. The good thing is, it's cheap. The best thing is, I get to do the work myself.

Also, don't some of you wish that you could rebuild your truck completely for only a $100.

I’ve been keeping several XL sheets. One with all of the costs that includes part numbers and suppliers, another that is for hours worked on the truck and what was accomplished. My truck is no where near done and I’m closing in on $10,000 and have just passed 1000 hours. There is another way to look at this though…. What do you normally pay for an hour of recreation ?? Golf, Fishing, Bowling, Movies, etc. If I pick and average and say it is $10.00, then I’m even and the truck has really cost Zero!!

I was for awhile and totaling it all up and the end of every month, But it got so that every time I went to get something for my truck I would talk myself out of it...So I gave it up(keeping track) Does it ever end ?

I will never do the math but do have a rough total in my head, which is probably a substantial underestimate. I do keep every receipt and scrap of paper though. What I find useful is keeping a detailed journal which I've referred to many times. I can't deny there is an area of my brain that tells me this truck makes no sense to keep because of the thousands that still need to be spent, but the annoying logical thoughts are overpowered by the fun of driving down a country road and knowing I can save this truck from rotting in junk yard.