Annual Budget for Practice / Training / Competition

[Dropkick]

I've been trying to develop a annual budget for my firearms practice and training costs. I don't have a financial planning background, so it's been a big work in process. So far, I've looked over my expenditures for the past 12 months. And also what I'd like to do over the next 12 months. Then I tried to reallocate parts of my personal budget to match accordingly.

I've tried to take the following categories into account for my previous / projected 12 month expenses:
Ammo
Gear
Range Fees
Course Costs
Travel / Lodging Costs

Does anyone make a budget like this for the year? Do you allocate a lump sum, or break out the categories by percentages? How do you handle classes that haven't been announced yet?

[orionz06]

I tried to, and it worked so far. In addition to the classes I wanted to take, I gave myself some room for stuff that pops up.

[NGCSUGrad09]

I had a healthy budget going until I got married... but that's beside the point.

I have a two tier plan:

Figure your monthly ammunnition expenditures, range fees, regular supplies, local matches per month, etc for a basic sustenance amount.

Then plan for large matches, classes, etc. The larger classes are pretty easy to predict amounts per day. For me, I plan for two big, 2/3 day classes a year. The cost is usually around $400 for the class, ammo at 1500 rds, a hotel night, food, etc.

Any extra gets thrown into new toys, extra ammo, upgrading reloading capabilities, etc.

[Dropkick]

With the new year coming up, I'm looking at trying to forumate a workable budget again. Any advice?

[jetfire]

I do make a budget, because it's part of my job and a tax write-off at the end of it. Here's a very simplified version of my annual budget for stuff like that. I assume I'm going to try and shoot 25,000 rounds each year, so for example this year it's 25k of .45 ACP.

Ammo: 25,000 rounds of .45 ACP - $9000
Training: 2 classes - $1000 +/- $500
Travel: $7500
Match fees: $2000
Parts: $500 (not including magazines)
Mags: $500

Like I said, that's a really simplified version. I actually usually break it out by quarters because I'll spend more in Q2 and Q3 on travel than I do in Q1 and Q4, so in those quarters I'll usually go through my parts/mags allotment to get everything I need for the upcoming season.

[JeffJ]

As much as I'd like the shooting part to determine the budget - the budget determines the shooting part. In other words, we live on a monthly budget - every dollar is allocated for something and I have a line item for shooting. I literally get that money every month and put it in an envelope, when I go to spend money on something shooting related I take the money out of the envelope - my plans revolve around that.

[Dropkick]

I sat down and calculated the rough percentages on Caleb's figures:



Ammo: 42%
Training: 7%
Travel: 35%
Match fees: 10%
Parts: 3%
Mags: 3%


I compared this to the figures I calculated previous for myself, and I think I need to toss those out. It's become obvious that I'm not allocating enough to the Ammo category. Being able to attend Training and Live Fire Practice really hinge on having the Ammo. (durr!) Thanks for the insights, Caleb!

[ToddG]

Just remember that caleb's numbers reflect (a) shooting 500rd per week and (b) shooting .45 instead of 9mm. For what caleb is paying to get 25k of .45, I can get 50k of 9mm.

[jetfire]

Yeah, if you're shooting 9mm or .40 you can either increase your round consumption or decrease your cost due to the relative cost of rounds being better. For example, those numbers will likely change to about 15k of .45 and 10k of .40 as we get closer to the match season.

[LOKNLOD]

Thank you, this thread, for making me feel poor.

270

[JM Campbell]

I need a new A&W and comp after that one LOKNLOD.

[Dropkick]

Bump / Update

I formulated a budget earlier this year, so now that the 1st quarter is almost over, here's some of my observations. First, I also factored in all Self Defense related purchases. I think this is the reason I'd went way over what I expected for Gear. I've spend more in 3 months than I planned for the entire year. I bought a high-end flashlight, punch bag, grappling gloves, holsters, knife and trainer. So it added up quick. The other thing I noticed was I haven't spent anything on ammo. I have been shooting through the cases I had bought last year. So sometime in the next couple months, I foresee an ammo buy.

Anyhow, this is the budget percents I came up with for 2012:
30% Ammo
20% Classes
10% Lodging
10% Firearms
10% Gear
5% Range Fees
5% Travel
5% Books / Videos
5% Unarmed

Obviously the actual percents is wildly different right now, but hopefully things even out. As far as total dollar spent to budgeted dollars, I'm doing pretty good.