Spending Money Wisely vs Having None

[timo_gross]

Looks great and it is a gap bed too.

Dave.

Most do not know a manual lathe is almost as fast as a CNC on parts over a inch or two. The 8" wheel used on hangar doors I could produce one every 3½ minutes. A engine lathe 5 to 6 minutes
Last CNC 8 plus minutes.
I sub out busies times the wheels. Had few CNC Guys come by and lathe still put wheel in turret lathe and 3½ minutes latter a finished with a pulley Grove and 2 bearing seats done. He keep the CNC Guys from over charging

Not my lathe though, just a random picture from the Internet. The manufacturer of my lathe changed their website header from "small manual lathe" to "high speed precision engine lathe".

 

[clockworkcheval]

And I still use the woodworkers workbench my grandfather made me for my 10th birthday 70 years ago.

 

[timo_gross]

And I still use the woodworkers workbench my grandfather made me for my 10th birthday 70 years ago.

That does not count, because you did not spend money on that. It was maybe a good idea to keep it.

 

[master53yoda]

My money philosophy I call opportunity cost, with cash, the choice of what you buy is really the choice not to buy every thing else.
I only buy something on credit as a convenience, paid of monthly. other credit usage ignoring the opportunity cost.

Capital expenditures can be bought with credit as long as the Value of USAGE is equal to or less to then the monthly cost compared to renting.

I didn't really learn this until latter in life. It would have been way better if I could have accepted this early in life.

Art B

 

[Lloyd-ss]

And I still use the woodworkers workbench my grandfather made me for my 10th birthday 70 years ago.

Wow, I am loving all of this "sentimental history" that is coming out. A lot of pleasant memories, I bet.

When I was a teenager, we built a smallish "nice" workbench with a top made out of clear fir 2x6's and held together with screws, not nails. It was a big deal. Do all the crappy dirty jobs on the big workbench and keep this one for clean projects. That held true for a few years but then my brother and I were doing a transmission swap and the old trans ended up on the bottom plywood shelf of the "nice" workbench with a big gouge and groove all the way across from that trans. Darn, not good.

That "nice" workbench is now, almost 60 years later, in our laundry room, all re-sanded and varnished all smooth and pretty. And that big gouge is still there on the bottom shelf varnished real pretty, too.
Lloyd

 

[Richard Hed]

Looks great and it is a gap bed too.

Dave.

Most do not know a manual lathe is almost as fast as a CNC on parts over a inch or two. The 8" wheel used on hangar doors I could produce one every 3½ minutes. A engine lathe 5 to 6 minutes
Last CNC 8 plus minutes.
I sub out busies times the wheels. Had few CNC Guys come by and lathe still put wheel in turret lathe and 3½ minutes latter a finished with a pulley Grove and 2 bearing seats done. He keep the CNC Guys from over charging

I know one thing: there are many things it is simply easier to do on a manual. CNCs are made for production of many of the same parts, hundreds or thousands.

 

[Richard Hed]

My money philosophy I call opportunity cost, with cash, the choice of what you buy is really the choice not to buy every thing else.
I only buy something on credit as a convenience, paid of monthly. other credit usage ignoring the opportunity cost.

Capital expenditures can be bought with credit as long as the Value of USAGE is equal to or less to then the monthly cost compared to renting.

I didn't really learn this until latter in life. It would have been way better if I could have accepted this early in life.

Art B

Absolutely. And the problem is that our schools specifically do NOT teach this. I'm sure that the powers that be do not want us knowing how interest works, how inflation works, how financing works.