How much do you spend on Lego per month?

[labfreak7]

Hi, I'm new at the Lego investing game, although I have been a reseller for years. My son is a big Lego enthusiast, so this is something we can do together. So far I am averaging about $1000 per month on lego purchases. I spent a lot last month because I was able to get some really great deals locally on some big sets, but now this is really draining my bank account. I am actually buying more than I am selling on Ebay. I haven't sold any of my newly acquired sets, because I am waiting for them to increase in value. From reading this forum, it sounds like its a minimum of 6 months. So this brings me to the question.. how do you guys afford to spend so much on sets that you will have sitting for months/years? It's hard to pass up deals of 30-50% off so when the opportunity arises I buy, but wow is it expensive!

[Grolim]

I don't have a monthly spending budget or target.  I weigh each decision on its merits factoring in many many things, the main ones being:

• price (landed after shipping if applicable)
• time to estimated EOL
• how well I think the set may appreciate in value
• can I flip it?
• Do I have cash available to spare?
• Can I perhaps use that cash on a better deal?

[Veegs]

 

<p>

I don't have a monthly spending budget or target. &nbsp;I weigh each decision on its merits factoring in many many things, the main ones being:

• price (landed after shipping if applicable)
• time to estimated EOL
• how well I think the set may appreciate in value
• can I flip it?
• Do I have cash available to spare?
• Can I perhaps use that cash on a better deal?

&nbsp;

Most of the time I go with 'Do I have cash available to spare' first. So hard, though. So much I want to buy.

[Grolim]

&nbsp; &nbsp;

Most of the time I go with 'Do I have cash available to spare' first. So hard, though. So much I want to buy.

 

Yeah me too.  Though I don't mind using debt to fund things sometimes.  Pretty much has to tick all the boxes first though.

[matt1147]

My monthly budget is around $250....but so far I've blown by that so I may have to reign it in a bit!

---Keep it secret. Keep it safe.---

[Guest brickcrazyhouse]

last year it was what ever gf said I could 

[redghostx]

I strongly discourage using debt irresponsibly, but you CAN go over your budget responsibly.

 

For example, using Grolim's excellent points and a BN 30% off Death Star.

 

You may not have money left in your budget for a $400 Death Star, but if you choose to go overbudget and pay it off in the next cycle (and accumulate between 0.75-1.75% interest), you can still come out greatly ahead.

 

Death Star now 400-30%=280

Death Star now + 1 month interest = 285

If you chose to not buy the Death Star now and wait until you have funds (say the next Double VIP), the best deal you can find is $340.

 

So sticking within your budget will have cost you $55 if a Double VIP event occurs in March or April.  You can use other sets (say funhouses with the recent TRU sale - where you can get them at $33 each or not get them at all) and see that you can go over budget responsibly.

 

For me personally, I only spend what I can afford right now - there is no point in accumulating debt unless the rate of return will be so substantial that I would justify a small balance on my cc. 

 

Another point to consider is that if you find an incredible deal on the side, you can purchase a larger quantity of the item and sell a few on ebay.  This method can reduce your overall cost down to 0 (essentially buy and sell 5, get 5 free if you clear 100% profit) but won't work as easily with readily available deals because of oversaturation.

[MartinP]

 

I don't have a monthly spending budget or target.  I weigh each decision on its merits factoring in many many things, the main ones being:

• price (landed after shipping if applicable)
• time to estimated EOL
• how well I think the set may appreciate in value
• can I flip it?
• Do I have cash available to spare?
• Can I perhaps use that cash on a better deal?

 

That is what I do, except that I stick to my monthly budget every month no matter what.

[@rtisan]

I`ve got a certain figure which I try strongly to stick to, but really it depends on what is available. I`ll gladly spend more money when a solid deal comes around, in favour of spending less next month. Just as a personal rule, I would never advise going into debt for anything like this. If you can`t afford it, don`t do it, heating, food, lights, gas, etc. are always more important and anything could change. Only invest money you feel comfortable doing so with, don`t use a good deal as an excuse to buy more if you cannot afford it. If you can, well obviously by all means enjoy 

 

 

For me personally, I only spend what I can afford right now - there is no point in accumulating debt unless the rate of return will be so substantial that I would justify a small balance on my cc. 

 

That would be the only reason for me as well to even consider spending more. It would have to be a hell of a deal that could re-materialize quickly, even then I`d seriously think about it. Call it what you want, but taking blind risks isn`t in my personality. Calculated risks are, but not through money at deals trying to get more back without research/knowledge of the market. That`s just stupid 

[waddamon]

This is pure investment for me, not consumption. So out of my income i allocate a certain amount of money for mid and long term investing. I have enough allocated to stocks etc. So i am currently taking 100% of the new.dollar allocations and putting them into this until i reach my desired set quantities. Once i reqch them i will need to find something else. 20 each on the exclusives expected to retire in the next 18 months.

[waddamon]

Between 0-7000. Depends on the month or quarter.

[Legodog]

15k last month but I have averaged about 5k/month since I started.

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[Darth_Raichu]

Whatever money not spent on women or booze ;)

[@rtisan]

Whatever money not spent on women or booze

This man knows his priorities!!!       

[supergman]

In the past, maybe $100.  In the last two months, about $10K.  I've always collected, never resold, but am tempted to offload some stuff simply because I am running out of space.

[Ronda]

I collect and do not resell other then parts of bulks from ebay (keep what I need, sell what I don't).  I only buy what I like.

SO no real budget.  Could be 500 one month and 0 the next one. Average about 100 I guess.

[TheOrcKing]

What is my montly Lego budget? Hang on a second while I go dig through the couch.

[Guest TabbyBoy]

More than I do on petrol (gasoline), food and beer combined!  And I'm not a starving teetotaller that walks everywhere!  I dump a grand or so on average.

[surfin.ei]

I just look at it like a savings account.  If i used to tuck away 500-1000 a month in savings where it sits and has no gain.  Instead I can see true growth over 6 months to a year by investing this money into legos.  Buy smart and stay on budget.  Then after a year or two of doing this you should have a nice little nest of which to pull from so you never have to leave those sales on the shelf!  Good luck

[Spartikis]

varies greatly, anywhere from 0 to several thousand depending on the deals. My most recent purchase was 15 of the kingdoms chess sets, i happened to log onto lego.com at work at the end of the day, saw it was retired and drove straight to the mall instead of going home. I really dont have a budget, i just invest when the time is right, luckily my wife and i make a decent income and have no kids so when i come with a trunk full of lego sets and a sad look of a puppy that just took a crap on the sofa, she just rolls her eyes, laughs and helps me unload the trunk.

[Guest TabbyBoy]

Every month, I spend

[Blackjack]

Maybe $50?

[Sozial]

that just depends on the deals which can be made. sometimes 0

[jaisonline]

Hi, I'm new at the Lego investing game, although I have been a reseller for years. My son is a big Lego enthusiast, so this is something we can do together. So far I am averaging about $1000 per month on lego purchases. I spent a lot last month because I was able to get some really great deals locally on some big sets, but now this is really draining my bank account. I am actually buying more than I am selling on Ebay. I haven't sold any of my newly acquired sets, because I am waiting for them to increase in value. From reading this forum, it sounds like its a minimum of 6 months. So this brings me to the question.. how do you guys afford to spend so much on sets that you will have sitting for months/years? It's hard to pass up deals of 30-50% off so when the opportunity arises I buy, but wow is it expensive!

 

 

i don't have a monthly limit because that isn't helpful in my case. instead, i have an idea how much to spend in a year (never using debt) and dip into that when i see outstanding sales like in May, Nov, and Dec 2013 (usually sets in their 2nd yr of retail).  my goal is to buy "cheap" as possible (note: i don't bank on store clearance due to my area.  Lego is too popular so popular sets online w/ more than 32% off is very nice). however, buying cheap during a set's 1st yr is hard due to space issues.

 

note: i also keep track of my profits and sometimes put that toward my budget.

[Lockblock]

Ugh, too much.  I also just collect and never sell. 

 

Due to that, I have no problem using credit cards but I pay way more than the min balance every month with disposable income.  Any interest I pay I consider the cost of doing business and having the utility of accessible purchasing power.  In five years, when I do decide to sell, I'm not going back to calculate the compound interest and add it to the items I sell.

 

In the immortal words of Barbie: Math is hard.