Chief TomaToe
Member
First of all, I would like to say after a short time of being a part of this forum, I am extremely impressed with how welcoming everyone is here and the lack of hostility I have often seen on forums for other hobbies.
I am a young guy (as I'm sure everyone else is here, too) who has just picked up this hobby, and my current situation in life (no kids) allows me a little expendable income and time. However, I'm wanting to make this hobby self-sufficient, meaning that once I start pen turning the hobby sort of finances itself. From what I've seen so far is that this should be possible as I've made less than 10 pens and have sold 4 of them, and the rest were given away as freebies to family. I really enjoy the whole process from planning the pen, turning it, to finally selling it.
So now I will actually get to my question. Do you have any advice on how to manage cash flow for hobbies, especially pen turning? Do you hide the cash in a shoebox under the bed? When do you know when to reinvest your earnings into more stock? I'm talking smaller scale hobby here. I want to get this thing started on the right foot, and I want to have anything hobby related segregated away from my personal finances.
I appreciate all of your sage advice!
I am a young guy (as I'm sure everyone else is here, too) who has just picked up this hobby, and my current situation in life (no kids) allows me a little expendable income and time. However, I'm wanting to make this hobby self-sufficient, meaning that once I start pen turning the hobby sort of finances itself. From what I've seen so far is that this should be possible as I've made less than 10 pens and have sold 4 of them, and the rest were given away as freebies to family. I really enjoy the whole process from planning the pen, turning it, to finally selling it.
So now I will actually get to my question. Do you have any advice on how to manage cash flow for hobbies, especially pen turning? Do you hide the cash in a shoebox under the bed? When do you know when to reinvest your earnings into more stock? I'm talking smaller scale hobby here. I want to get this thing started on the right foot, and I want to have anything hobby related segregated away from my personal finances.
I appreciate all of your sage advice!