How much do you spend a year?

Well, I wasn't going to comment, but some of my friends are chiming in, so why not. I can tell you that my York budget alone(for attending only once a year) generally is around $2,000. Typically I do have some change left over, but whatever is left of that is added to whatever other train show that I would attend after York. I have had it where I went to a few train shows one year before going to York. I believe I had spent just on the train shows about $1,500. Now, if you were to include what I bought at my local train store, that year alone, we're talking maybe $7,000 there or maybe a bit more. It is hard to say because as it has been said, things vary like income, time, and also most importantly, what your interests are.

That being said, I have sort of slowed down a bit, nothing like when I was in my 20's quite some time ago. Granted, those were easier times on my body, but just about the same on my wallet. Regardless, I have dialed back some spending, and have only selected a few things to pick up here and there. I am also concentrating like some do on some older stuff for upgrades(meaning buying new older engines to be upgraded). I do have a list of engines I have that will be upgraded eventually as well.

Now that I'm pretty much done with collecting postwar Lionel - I have just about everything I want / although their is still the occasional purchase - it's really up to Lionel how much I spend - 2021 was pretty light but both 2022 catalogs have a number of high end items on pre-order from me

Way too much !!!!!!!

Much less after demise of manufacturers, and dearth of interesting prototypes, excepting one. 

When I go to the York Meet I don't walk as fast as I used to, so that cuts down on my spending.  But, I now go for all three days instead of one day as I had in the long past.

So when I average out my spending it comes to about....$a lot.

I'll make my answer short and sweet,

A whole lot less than I used too !

Doug

@JPS posted:

During the Train World Interview with Mike Wolf he mentioned that their average customer spent $5500 per year on train stuff/the hobby.

Wondering what people here really spend per year on average.

JPS.....what do you spend per year on trains?.?.......

@JPS posted:

During the Train World Interview with Mike Wolf he mentioned that their average customer spent $5500 per year on train stuff/the hobby.  He did not say what year only something like 'when we last surveyed it' so not sure how recent that figure is.

I haven't watched the video but if that's based off a survey, it's already skewed high.  Very few people are willing to take a survey - and most of the ones that would, are the ones who have an addiction.  In the library world, we refer to these curve throwers as "power users".  They are foaming at the mouth to spend cash on the next new thing - and as others have pointed out - some of them never even open the boxes.  My therapist wife would raise questions on their mental state.  My guess-  most of the people spending $5000 do it once.  Maybe twice.  They aren't averaging that.

My guess - MTH's average customer probably spends $500-1000 a year - it's important to remember that a bulk of their sales is starter set purchases by people who aren't likely to fill out a survey - and may only ever buy one RTR set.  You're gonna spend more if you buy a new scale engine - but the next year you might only buy a few boxcars.  If you're dropping $5k per year on model trains... you're not average. 

My layout is nearing completion. I probably spend about $1000 a year.  JohnA

Don't really want to know but, I thought I was entering the slow down phase, then came all of these special runs which have put me back in the game.

@Jacobpaul81 posted:

I haven't watched the video but if that's based off a survey, it's already skewed high.  Very few people are willing to take a survey - and most of the ones that would, are the ones who have an addiction.  In the library world, we refer to these curve throwers as "power users".  They are foaming at the mouth to spend cash on the next new thing - and as others have pointed out - some of them never even open the boxes.  My therapist wife would raise questions on their mental state.  My guess-  most of the people spending $5000 do it once.  Maybe twice.  They aren't averaging that.

My guess - MTH's average customer probably spends $500-1000 a year - it's important to remember that a bulk of their sales is starter set purchases by people who aren't likely to fill out a survey - and may only ever buy one RTR set.  You're gonna spend more if you buy a new scale engine - but the next year you might only buy a few boxcars.  If you're dropping $5k per year on model trains... you're not average. 

In addition, this forum is definitely skewed toward the high end of the hobby.  A large percentage here are into the latest and greatest, big ticket scale items.  I doubt that’s representative of the hobby as a whole.  

I go to a local hobby shop every two or three weeks, each time it's on average $150 plus.   Then we have online and private purchases.  Train shows, I go but many times it's nothing. 

I don't keep track of my disposable spending but I'd say the 5k is not far off when you break it down to a monthly or weekly basis,

This question is between me and the one who decides whether I get to stay on this earth or not, my wife.

In all seriousness my spending has dropped significantly as I have run out of space for trains and need to sell off of a portion of my collection.  My spending in some years has been quite significant based on disposable income and the availability of certain models I have been seeking for some time.  I spent less this year on trains than I have in the last 20. 

  To Jacobpaul81's point - the average is what it is and without any additional information (sample size, standard deviation, median, etc) it doesn't convey any real information.  What would have at least given some sense of actual expenditures would have been the median (which is the 50% point of a distribution - half of the counts are below this number and half are above). If the average is $5500 and you spend $5500 then you are indeed on the average, however, if I have 10 OGR members and their expenditures for a given year are  0,0,0,0,0,0,0,0,0,55000 - then (0+0+0+0+0+0+0+0+0+55000)/10 = 5500 so while the "average" OGR member spent $5500 the median OGR member spent $0.

$700.00 to $1500.00 would be a good guess.

I don't even need to do the math. There's no way I come close to the $5k / year figure but that's not a surprise to me.

I'm A) a postwar guy who B) runs mostly all PW / conventional stuff with C) a handful of Lion Chief + and LC 2.0 thrown into the mix. Out of the catalogs I'd estimate less than $1,000 per year most years.   I do buy PW items on the secondary market but my spending is down since I have most everything I want.

Turns out that most of my train budget last year was for repairs and rehabs of my PW locos. Discovered the great service available at nearby Engine House Hobbies and was able to finally take in the backed up line of locos needing servicing/cleaning and in some cases parts replacements. Money well spent!

I have been into trains for decades. I have kept records and know what I spent in 1961, for example, when I was a kid. In general my spending follows the normal distribution curve, that is, gradually increasing to a high point and then tapering off. The issues today are time and space. I have many trains and, if I want to enjoy them, must run them. I got rid of most boxes to create storage space. I buy items to fill my collection needs.  What I have is manageable and enjoyable. I am open to major purchases, such as the New Hope & Ivy Land set. My son, who has the train gene, will figure out what to do later.  Mark

Really? If I am reading this thread and all the answers something is wrong.

How can Lionel, MTH and Atlas plus others stay in business if we are not spending close to that average. TWO Lionel engines can equal OVER that.

If as everyone says they are spending $1000 or less then the manufacturers would all be gone. Our hobby is NOT THAT BIG that they could survive. Yes, you may be spending less now but Yesterday or tomorrow you may be spending more. I honestly believe that if you COULD average out what you actually spend and include everything, (Scenery, Electronics, Track, GAS and SHOWS, Shipping, Food, etc), you will find you spend more than you actually do. HECK even the donuts cost more now!

I have used financial software for household finances since the early 1980s (and yes, my wife has total access).  As a government program manager I was solidly middle class.  I first started buying trains in 1994, and have purchased train items every year except for a couple in the mid-2000s.  I obviously went wild in the early 2010s because of the spike in spending as I expanded my layout and focus on specific items that I wanted.  My inventory shows 634 train items, but this includes track (bulk buys), scenery, buildings, power, lots of misc stuff (wood/paint/etc) as well as train engines/cars.  I did just under $3K/year, which to me seems high for what I have.  I do like 3rd Rail stuff and command control.

Those folks on the forum that have said they have over 1,000 engines must have spent a lot more.

I suspect the answer depends on a few significant factors:

1st: Size of your layout: Is it a Full Basement Layout that takes up the entire space or do you only get a 4x8 in the corner the Local CEO Allocates for you.

2nd: Is your Layout an Finished Project (of course we know it's NEVER Done!) or are you just starting your build out or major remodel.

Either one will make a huge difference in what you Want/Need in any given year.

How much do you spend a year?

Whatever it takes to put a smile on my face.

I wonder, which question would have the most accurate answers?

1.-  "Annual train expenditures"

or

2.-  "What was the biggest fish you ever had on your line".

@Tom Tee posted:

I wonder, which question would have the most honest answers?

1.-  "Annual train expenditures"

or

2.-  "What was the biggest fish you ever had on your line".

Well, I gave at least one year some time ago estimate.

As for fish, well, I think I'll leave that to the fisherman. Why? While at my first job, went out on a big boat, no one caught anything. I managed to snag the bottom, pole bent really big. No fish, just the bottom. It was a good thing I managed to work it loose, otherwise they would have cut the line and made me pay for the hook.

I went fishing caught a 1000 lbs fatty tuna that I sold for 30,000 and used it to buy 3 trains from Lionel due to inflation. This is my Honest answer

If you add all the incidentals plus trains it wouldn’t be hard to hit 2K per year. While I could spend a lot more than that I don’t.

It’s all priorities. I had a guy tell me I had too many trains. Then I reminded him that he drives a Range Rover.

Everybodies acting like their wives read this forum   3 Lionel steam engines top 5k  6 lionel diesels top 5k  10 MTH diesels top 5k

I like @Tom Tee 's question better.  I have not spent anything today but a new to me used engine did arrive this morning.  I have an inventory, have a vague idea on how much I've purchased, but really do not want to know the real total since I have been really a penny pincher - not sure what happened - except my grandkids made me do it. So my answer to the most honest question would be from the fisherman.

Since he only hooked the fish but never landed, he can honestly answer what he (or she or they) thought was on the line.  The 4 inch bluegill fought like a 4 foot Muskie - so it must have been really big!!! 

Today, I just paid a little over $1k on preorders. I can easily hit that average number each year. I’m part of a dual income no kids couple, so both of us budget a good chunk of our funds for fun things - after the mortgage, debt service, and retirement savings, of course.

@Tom Tee posted:

I wonder, which question would have the most accurate answers?

1.-  "Annual train expenditures"

or

2.-  "What was the biggest fish you ever had on your line".

I caught a Bull shark once in Great Bay (near Atlantic City) while fishing with my Grandfather and Uncle when I was 12. As I lifted it up, with only its head barely out of the water, my uncle cut the line.

I quit fishing after that!

The amount for me depends on whether my wife is reading this or not.

Let me put it another way.  When a fellow enthusiast recently told me he spent $2300 on an engine, I was please to use that as a data point to tell my wife that I don't buy the high-end stuff

Another tip here:  wait until your wife is gone from the house before you bring in that new pile of train stuff and don't leave the receipts laying around.

With that being said, think Mike Wolf's numbers are real. 

More than my wife wants me to spend, and less than I want to spend!

Chris

LVHR

I think it also depends what phase of things someone is in, too. If you are building a layout the track and switches even on a modest layout can easily come to several thousand bucks. In my case my layout build is so slow that it is getting spread over several years which tampers down my spending. When I finally get the track done and have to wire it, and if I decide to buy DCS and Cab3 bases, I likely will be triple my usual spending, which is around 1k a year or so.  I can believe Mike's figures, in that in many ways this tends to be a hobby for people with the discretionary income to be able to spend what most would consider a good amount on the hobby. I suspect if you took it as a median, rather than average, it would be a lower number than that, I would hazard half of that, so half spend more than 2500, half spend less.

Done spending except for electricity for power and AC in the train room. Happy with what trains I have.

I too, am done spending. I’ve had a built-out layout for years and have all of the locomotives, passenger, and freight cars I want. Am also done with trading up, or selling the old to buy the newer. Now I just enjoy running all that I have. Old age, you know. 😉

I was spending a lot, and probably have about $5000 in pre-orders.  Something I regret.  I won't back out of a pre-order.

My financial situation has changed for the worse, and I am in contraction (selling-off) mode.

@gunrunnerjohn posted:

How much do you spend a year?

Whatever it takes to put a smile on my face.

And with your apparent, insatiable obsession with O scale steam locomotives, it would have to be an astronomical amount to KEEP you smiling, right John?

I have been into this a little over a year ago, and have Spent WAY MORE than I ever would have imagined when I started!!

I have ONLY bought used equipment, but it still adds up quickly.  That was to keep the price down.  LOL  The "problem" has been I always thought what I have been buying was gorgeous, I had admired it from afar, seeing it prominently displayed in Various hobby shops through the years.  Check my profile to see what I buy.  As an example, once I bought my first K-Line Aluminum Car and really held it and looked at it closely I was amazed!  I don't consider what I have been buying "toys", rather "small works of art".  OH and "by the way" rather than "just" stare at it, you can put it on a Layout and operate it.  That I know in itself can be fun from my HO days.

I too am reaching the limits, of what I have space for, and have acquired MOST the equipment I was interested in when I started, so I am starting to "pump the brakes" but still not at a full stop.

Starting to look now, at what I need to build a Layout.  That I know is not going to be inexpensive.

Wish me completion BEFORE the bank Repo's my car.  Just kiddin.

@Yellowstone Special posted:

And with your apparent, insatiable obsession with O scale steam locomotives, it would have to be an astronomical amount to KEEP you smiling, right John?

Well, maybe more than average.   I do have the Strasburg #90 coming in, and I also got sucked into the UP Rocket Train, so that's going to be a dent in the ol' bank account.

Probably around $100.  I am a small time postwar operator not collector.

Charlie

@mlavender480 posted:

In addition, this forum is definitely skewed toward the high end of the hobby.  A large percentage here are into the latest and greatest, big ticket scale items.  I doubt that’s representative of the hobby as a whole.  

You know that's the truth!  Ha!