Start year off right

New Year’s is a great time. Even the first day back at work after the holiday has a special quality to it.

It feels like we have been given a clean slate.

For collectors, the question becomes one simply of what will you do with it?

I don’t expect hobbyists to give up on their passion of a lifetime, but the new year allows for course corrections or even the setting of new courses.

To aid this process, may I make a two suggestions?

First, give yourself a budget. How much you spend each year should not be left to happenstance. Many spouses have arguments over money. Having a random set of hobby expenditures occurring in unpredictable ways plays havoc on routine personal cash flows.

Figure out what you likely will spend and tell your spouse and then agree on a figure. Then stick to it.

Second, set your hobby schedule. Are you going to any shows this year?

Figure out the likely cost and the dates and then stick to them.

Rather than make you boring, following these two suggesions will enable you to scoop up the unexpected find, or buy the key you’ve longed to own.

A budget empowers you. You don’t have to feel guilty about the expenditure or feel that it is denying some other need.

Having a likely schedule set and agreed to ahead of time will prevent any collisions with other commitments, or at least they will be identified and can be reconciled ahead of time.

Collectors can relax with their coins while family members can relax about the behavior of that special collector in the family.

Everybody wins.

With a budget and a schedule the only surprises should be pleasant ones.