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Sunday, April 14, 2024

Tracking The Spend

In years past, Wargames, Soldiers, & Strategy's Great Wargaming Survey asked a question on spending.  The question asked survey respondents to quantify their expected spending given a range of expenditures.  Since I wondered about the accuracy of these responses (my sense of accuracy in my own spending is suspect), the 2023 survey replaced this question with two questions.  The first spending question asked if respondents tracked their hobby spending.  The second question rephrased last year's spending question and changed the question from absolute to relative terms.  That is, do you plan to spend more, the same, or less than last year?  Spending responses in relative terms may be easier to quantify than spending in absolute terms.  For me, relative expectations are easier to assess.

What did the 2023 survey show for these two new spending questions?  Let's see.

Tracking Expected Spending
Figure 1 shows a high-level perspective of any differences between those who track their spending and those who do not. If we assume that those who actually track their spending have a more accurate picture than those who do not, we might expect to see variation between spending expectations.  The chart illustrates that the "No" trackers are more likely to choose the same level of spending as last year compared to the "Yes" trackers.  Outside of the spending "About the same as last year" category, those who track expenditures tend to have percentages larger than the non-trackers in all other categories.  Does this suggest more accuracy in the trackers' results?  

Figure 1
Tracking by Attributes
If these data are broken down by select attributes (Primary Interest, Location, Age Group), do any tendencies or patterns emerge showing differences between those who track spending and those who do not across attributes?  The answer is "No." 

Figures 2 (Primary Interest), 3 (Location), and 4 (Age Group) all show a similar relationship between tracking and not tracking.  Roughly 70% of respondents do not track spending expenditures.  For Locations, "Region-Other" is an outlier due to small sample size.
Figure 2
Figure 3
Figure 4
Expected Relative Spending
While the percentage of those who track expenditures remains constant across the three attributes examined, does the same relationship hold for expected spending relative to last year's spending?

Across Primary Interest groups (Figure 5), Historical wargamers expect to increase spending over last year at rates greater than their Fantasy/Sci-Fi and Mixed counterparts.  Fantasy/Sci-fi gamers expect to cut back spending at a rate greater than the other two groups.
Figure 5
For relative spending levels by location (Figure 6), USA/Canada respondents are much more likely to increase spending year-over-year than other global respondents.  Why are North Americans not seeing similar belt tightening?
Figure 6
In the chart of relative spending by age group (Figure 7), are any tendencies apparent here? 

First, the percentage of spending "Considerably more than last year" decreases monotonically with age.  Perhaps as time marches on, we all have enough figures that large expenditures are no longer needed.  Either that or the prior year's spending was elevated such that cutting back offers a natural rebalancing act.  For respondents age 31 and above, 2023 looks to be a leaner year on purchases than was 2022. 
Figure 7
While the percentage of respondents marking that they track expenditures is consistent at about 30%, expected spending levels vary across attributes although most tend to see a decrease in spending over last year's spending.

Do you track hobby expenditures and was your 2023 spending less, the same or more than that in 2022?  Can you even remember?

56 comments:

  1. Well, interesting stuff, Jon …
    In answer to your questions, I DID track spending for a while (Aug. 2022- Jan. 2024), but then lapsed, so I have only one year of complete data. Tracking was intended to keep tabs on my spend, and rein in any overzealous cash-splashing, and kind of helped (I’m not a big spender on the hobby, anyway).
    Using just August to December, spend increased from approx. £230 to approx £350 over the 2022 v 2023 periods, BUT the numbers are significantly skewed by a September convention in 2023, where the bring and buy (/flea market) yielded a big haul. Without that the increase would have been from £230 to £280 or so. Still an increase, but I’m not a GW victim, nor buying 28mm metals, so all within my version of ‘reasonable’.
    Always hard to pin down what feels like a reasonable amount to spend…but a glance at the lead pile/Mount Neverpaint/pile of opportunity keeps me from (what I consider as) excessive spend, from a personal perspective.

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    1. Thanks, Martin! You seem to have your spending as well hobby management well in hand. Your spending looks quite reserved to me.

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  2. Personal choice has lead to a slight decrease in spending on the collection of figures. Rules for games and the paraphernalia of running a game are up a little. The trends will continue the rest of the year, due to a series of purchases last year that were not likely to be repeated.
    An unusual purchase of a 10 box project of Perry plastic figures and a vehicle purchase of 4 1/56th scale armor kits are most of the outflows last year.
    Do you count relcycling or trading for units as spending? I just took delivery on some aircraft that complete my 1/200 scale WW2 air forces, until the the next push.

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    1. Thanks, Joe! How one counts "spending" is a personal decision, I think, especially since the survey does not specify exactly what constitutes "spending." I would not treat recycling or trading as spending, do you?

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  3. And thanks for the analysis, Jonathan.

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  4. My wife and I track all our spending on our hobbies, I just never look :-)

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    1. Peter, I am with you! While I have the data in email invoices, I rarely look and NEVER aggregate.

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  5. Jonathan, I try very hard NOT to track my spending! ☺
    Neil

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  6. Interesting analysis Jonathan. I don't track how much I spend each month/year, though I do tend to stick to a rough amount each month. Otherwise I need to explain to the wife about extra packages arriving.

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  7. I don't track my spending at all, it would probably surprise me how much I actually spend. I tend to buy even new projects in dribs and drabs and of course I suffer greatly from 'buy it when you see it, not when you need it' syndrome. Things only go up in price or end up OOP.

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    1. Phil, if we tracked our hobby spending meticulously, I reckon many of us would be surprised at the level of spending. I know I would. I am in your camp of "buy it when I see it" more often than not.

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  8. I roughly know what I have to spend each month and pretty much stick to it but never really track it. It maybe better I don't!

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  9. I don’t track, but am semi-conscious of spend and that awareness tells me that I need less this year than last. My higher spend this year has gone on boardgames as I have no real control over what new releases will interest me, whilst on the figure side, I know I have enough in the figure mountain and I want to work on reducing that.

    Three things impact on my current figure spend;

    Over-buying during Covid, so I presently have enough.

    Running out of storage space, so think more about have / wants and needs

    Budget - certainly in the UK, post Covid has seen high inflation, particularly on food and energy and disposable income as a general thing has been impacted.

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    1. Thanks, Norm. I wonder if over-buying during COVID was universally seen? Anecdotes suggest vendors were very busy selling product during these times. Perhaps this lends itself to a naturally slowdown in buying habits? The UK is not alone in seeing high inflation post-COVID.

      Your comment on having little control over spending due to new releases and not knowing what will interest you is a good one. Made me smile. Thank you.

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  10. I never track my spending, it'd be far too dangerous!

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  11. I keep an eye on my spending 2023 was down on 2022 and 2024 will see further reductions, it's as Norm says a bit of financial squeeze and in addition I've been successful in trying to paint what I've got instead of just buying new, it's also because 2022 was a bumpers year with a lot of spend for the first family Christmas Napoleonic wargame, I'm still painting figures from that year and trying to clear others out, figures painted have outweighed figures bought for 2023 and so far in 2024! Thanks as always for the analysis very interesting!
    Best Iain caveadsum1471

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    1. Iain, I see a spending pattern as you work through your stockpile of figures. Very good! I am attempting to do something similar for 2024. I am not so much focused on spending as I am on trying to paint more than I buy. Three plus months into 2024 and I am keeping myself in the black.

      Perhaps I should ask what is the oldest figure in your stockpile that finally saw paint in 2024? That might be an interesting and telling question.

      Happy to see you continue enjoying these analyses!

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    2. From skratch? Some late Roman cavalry from 2019, part painted ( 2009)and finally finished but mostly bought in the 20th century!
      Best Iain

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    3. That is a good, start for a benchmark.

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  12. It's always interesting to read the results of these surveys and get an idea of trends in the hobby at large. I planned to reduce my spending dramatically this year as I reached the point where I have too many untouched projects I want to get to, and have everything I realistically need. Thankfully I have managed to stick to it so far.

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    1. Well, certainly pleased that you have not tired of these posts yet! Plenty of topics still to touch on before this year's survey is published.

      As I mention to Iain above, I too, am trying to cut back on purchases to align more with my painting output in order to reduce the number of figures in The Lead Pile. You may be more successful than I!

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  13. I don’t normally track my spending too closely, though I have a rough idea if I’ve been a bit to enthusiastic. This year I expect to spend very little - WOTR being the only (very limited) new project for 2024 in 10/12mm. I do still have figures to paint for AWI so I’ll be focussing on small additions to existing ranges from stuff I’ve got in stock. The wife’s 60th birthday, our 40th wedding anniversary and some big gardening projects will see most of my hobby money redeployed this year.

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    1. I only have a vague idea on what I spend but I am actively trying to cut down on new purchases. Like you, I have much that could see the paintbrush. Actually, I probably have more figures than I can paint in a lifetime. You have a lot of Major Milestone coming up. hopefully, you will reserve a few days for some gaming if you can get you away from the garden.

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  14. In the majority for sure--don't track hobby expenses. Can't say that I ever really make projections on upcoming hobby spending. The butterfly lands and the wallet opens, more like. I'm wondering if by hobby spending this includes travel and attendance at conventions (it seems not). If that is included, then that is certainly a marker of expenses, and one which I track and define my hobby year, cost wise.

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    1. We are in good company, it seems. I like the "butterfly lands and the wallet opens" comment. That could be a new mantra for many of us, I reckon.

      I know some include travel and con expenses into a hobby budget but that is not something I do for the simple reason I do not attend cons and I really don't have a hobby budget. Perhaps one day, though.

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  15. I don’t really track my spend, but I believe that I am quite frugal. Bar some odds and sods, I don’t allow myself to place new orders for models until I’ve painted the old ones. This tends to slow down purchases.
    Maybe I should start keeping a tally, or maybe that’s dangerous?
    Chris/Nundanket

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    1. Just in time ordering as each unit is painted is a solid plan and eliminates a lot of waste. I could do with a little more restraint. Keeping a tally of spend might be a useful experiment for you.

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  16. Having just completed a survey of my painted and unpainted figures, I am definitely going to reduce my expenditure. Certainly not eliminate it though 😁
    I have never really tracked my expenditure before as it was not necessary. Having retired I am now forced to be a bit more focused on the cost of the hobby.
    Good to see that the younger wargamers (less than 30) are all expanding their collections. The hobby seems to be in safe hands.

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    1. Thanks, Ben! Care to share the counts of painted and unpainted? That way, we can assess if cuts are needed.

      The younger gamers tend toward fantasy/sci-fi.

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    2. My blog is being brought back to life and I will share a post on my figures soon. 😁

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    3. Good news! Having an active blog provides many benefits including encouragement and support.

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  17. Along with almost everyone else, I don't track my spending, but I know roughly what I have each month so could estimate an annual spend if pressed. I mentioned a couple of months back that I had a real "splurge" in Jan/Feb...but I haven't bought anything since then really, and like Chris Nundanket, I do generally buy then paint almost everything before I buy again! It's a while ago now, but i don't think I had any increase in spend during Covid, which seems to run against the trend...

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    1. Thanks for your feedback, Keith! No stockpile of unpainted figures? I wonder what that would be like.

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  18. Like the majority, I don't track my spending. I'm not enough of a butterfly and space too limited to make "surprise" purchases. So my projects are few and constant... I'm just plain boring I suppose.

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    1. Perhaps boring at the painting desk but not at the gaming table!

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  19. Jon I have a spreadsheet where I keep a record of my spending on the hobby over the last ten years, this is broken down into 12 key categories allowing me to analyse in some detail trends in my spend over this period…..ok I’ve taken this far enough 😂😂😂😂

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  20. I track my spending and set a goal for the year. I will admit it's not 100% accurate but I would say + or - $30. I spent more in 2022 than 2023 by $75. I don't worry if I'm over as usually it a sale or one time chance to get something.

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    1. Thanks, Dan. Seems you have your spending situation well in hand.

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  21. Like most, in the past I have not tracked very closely other than to ‘try to stay sensible.’ On the survey I just ballpark what sounds right.
    But THIS year I have been tracking. There’s a text box on the right side of my blog even. It’s not just miniatures, but anything hobby related / bought specifically for wargaming.
    So far at $729.
    And
    It’s
    Only
    April.
    😀

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    1. Thanks, Stew. I will be keeping an eye on your spending ticker now.

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  22. Normally I don't track my spend, but this year I have decided to, just to see what I actually do shell out on the hobby front. Aside from a big (to me) one of purchase of a new games mat, everything else should be within normal limits so to speak. Looking ahead I expect me spend to get even less, as honestly I have enough lead as it is and enough periods to keep me happily entertained for the rest of my life (hopefully a long and healthy one!). Books will continue to be my biggest outlay I expect, but will have to wait and see...

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    1. Steve, the survey results and comments here suggest many of us are downshifting our spending. Like you, I have enough unpainted figures to last the rest of my natural life. Still, the call for new figures and new periods continues. It is much fainter now than before.

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  23. I don't track my spending. I certainly fall into your category of 'been wargaming a long time and have lots of painted figures already'. My last big project was for the Boxer Uprising in 2022/2023. In terms of spending I buy a lot more history books than figures but that's because I'm very interested in aspects that don't feature in table top battles such as why nations go to war, how they afford war, the friction that takes place at high command level and why nations make peaces. I've some several games at that level. Difficult to model the factors involved but very entertaining.

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    1. Thanks, Brian! Strategic-level gaming may be difficult on the gaming table but perhaps not impossible. Do you hex and counter games when you want to play at this high level of operations? If so, which ones are your favorites?

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  24. I have never tracked my expenditure with precision, but I carefully manage my purchases so that that the lead mountain is not too large (it is non-existent right now). This had the advantage of ensuring that my purchases did not draw the attention of Domestic Control. I guess you could say that I track my expenditure by proxy.

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    1. Mark, you are a model “model” major general. I wish I had your discipline and your painting speed. Very good to fly under the RADAR of Domestic Control.

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  25. I have always tried to limit spending on my hobbies through the years, basically justifying expenditures around my birthday, Father's day, and Christmas. But after I retired, things changed a bit. My wife encouraged me to spend more on myself! My expenditures on minis went up quite a bit, until I purchased a 3D printer. After that, it dropped to almost nothing. But my unpainted pile increased exponentially, haha. STL files are much cheaper than minis.
    On the other hand, I spend much more now on supplies, paint, tools, books, and specialty items than I used to.

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    1. Thanks, Vol! Interesting that spending went up and then spending went down but the figure pile continues to grow.

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  26. As you know, I have tracked my expenditures for quite a few years now. It acts as a bit of a reminder when I am inclined to spend off project! I am not surprised that tracking expenditures has no real correlation with much of anything else.

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    1. Thank you, Peter! While I keep all of my receipts, I have never totaled them all up. Some things, I simple have no stomach to do.

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