Tuesday, May 1, 2012

Surmount the Stash May Update

Monthly budget of $50 for all knitting related expenses: I ended last month with a deficit of $35.64, which is bad news considering that I was planning all along to spend, spend, spend at the Knitter's Frolic marketplace.

I splurged when I bought bulky yarn and needles to knit a headband and cowl for a departing coworker to the tune of about $50.00. I spent $7.22 more when I bought black sock yarn for my Tardis socks. And then I really overspent at the Frolic - all in all I probably spent about $110.00 there. Oh yeah and I spent $6.04 for the (w)rapped pattern just yesterday! I don't have all the receipts, but I'll estimate my deficit at $160.00 now. Is a budget of $50 a month is unrealistically low? Or should I put myself on a spending moratorium for the next few months?! I think the latter.

Manage my WIPs: Last month I started and finished a couple of dishcloths, a teddy bear, a small cowl, a large cowl, a headband and a couple of pairs of socks. Here we are on the first day of May and there's just one pair of socks on my needles. That's going to change though, I'm swatching for my (w)rapped pullover this evening.

Plan projects to work through my inventory of yarns in my Stash:  I'd estimate that in April I knit through about 1500 yards from my stash. I'd hoped to use some stashed DK cotton for the (w)rapped KAL but I've purchased yarn instead because I think it'll need the stretchiness of wool. Two skeins of sock yarn have been destashed  - one in a swap and one I've donated as a Ravelympics prize. Speaking of the Ravelympics I've got my project planned: Clapotis from silk mawatas in my stash.


Marie/Underground Crafter said...

I agree, I think if you cut down on the next few months of purchasing, you'll be ok.

I hadn't thought of donating stash for Ravelimpics prizes - great suggestion!

Nicky said...

I think you should leave your budget the way it is. If you don't spend it, move it into the next month.

This way, if you do need to purchase, you still have some wiggle room and not in the hole even more.

Do some planning also ... maybe you'll find after doing so, you wouldn't need to purchase in the next couple of months.

No moratorium though ... in my case, that leads to more trouble. :D

I'm right there alongside you ... I'm in deficit for $100 and I only fell off the wagon last month. Aye vey!!!

Wanderingcatstudio said...

1500 yards is a pretty good monthly yardage!

Anonymous said...

If you were spending on yarn to go into the stash, I'd say quit. But, you are using what you are buying. As long as you can afford it ... I wouldn't worry too much.

Delusional Knitter said...

You're doing great with WIPs. I'm already horribly over budget too, but being aware, I have cut down considerably because I think really hard before I just throw things into my shopping basket.