Joel_BC
Super Self-Sufficient
When I was a real young guy and was living on land, I soon realized that having (or having access to) $100-worth of "handyman"-type tools probably saved me at least $1000 a year. I could utilize my own skills - and even expand my skills in the process - to make and re-build and repair things. You start by acquiring the basics, such as a hammer, a handsaw, pair of pliers, combination screwdriver, carpenter's level, combination square, builder's square, chalk line, drill. You can probably find all of these things, used and in decent shape, in a sizable pawn shop (or second-hand store of the type devoted to tools).
It's true that the list of desired tools can become endless - that's what can lead to becoming "a tool freak". But you can resist that. I have, for decades. You manage the urge by applying the principles of living within your means and making discriminating decisions.
My initial desire was to learn skills to be able to make and fix what I want, and to save money. And it proved out - on a small scale. When necessity led me to need and want to take on more ambitious projects, I had to expand my range of tools. These tools related to various things I needed to do, like fix electrical circuits and appliances, take care of things on our truck, build additions on buildings (and even put up buildings from scratch), maintain and fix homestead equipment. My tool collection gradually grew, but along the lines of the essential principle: figure out what you need to do, decide which tools you could borrow or rent; if you need to buy, then shop around. In general, if I can find a very well made used tool (in good condition) at a good price, I buy it in preference to a mediocre-grade new tool at the same price.
The initial $100-worth of well-selected tools could save me $1000 in a year (conservative estimate), and it was easily proven to me that tools enable a person to substitute his/her own labor for labor they'd otherwise pay for. By the same token, $1000-worth of tools can save a person a lot more money. I'm not going to say that the annual savings remains at a 10:1 ratio as your investment in tools increases, because I doubt that's true. But I will say the investment in tools, coupled with learning how to use them, enables you to do more: make, repair, and build more. So the benefit is not simply in saving money, but in improving your quality of life.
My wife and I now have a collection of homestead tools that - if we exclude items like my truck, our rototiller, etc - would have a used-equipment value of maybe $8000. Gardening tools, carpentry tools, electrical, plumbing, concrete, and stone-masonry tools. I figure having these and knowing how to use them saves us maybe $80,000 every three-to-five years. I think that's good. Plus, we've learned to enjoy doing these tasks (at least, most of the time).
It's true that the list of desired tools can become endless - that's what can lead to becoming "a tool freak". But you can resist that. I have, for decades. You manage the urge by applying the principles of living within your means and making discriminating decisions.
My initial desire was to learn skills to be able to make and fix what I want, and to save money. And it proved out - on a small scale. When necessity led me to need and want to take on more ambitious projects, I had to expand my range of tools. These tools related to various things I needed to do, like fix electrical circuits and appliances, take care of things on our truck, build additions on buildings (and even put up buildings from scratch), maintain and fix homestead equipment. My tool collection gradually grew, but along the lines of the essential principle: figure out what you need to do, decide which tools you could borrow or rent; if you need to buy, then shop around. In general, if I can find a very well made used tool (in good condition) at a good price, I buy it in preference to a mediocre-grade new tool at the same price.
The initial $100-worth of well-selected tools could save me $1000 in a year (conservative estimate), and it was easily proven to me that tools enable a person to substitute his/her own labor for labor they'd otherwise pay for. By the same token, $1000-worth of tools can save a person a lot more money. I'm not going to say that the annual savings remains at a 10:1 ratio as your investment in tools increases, because I doubt that's true. But I will say the investment in tools, coupled with learning how to use them, enables you to do more: make, repair, and build more. So the benefit is not simply in saving money, but in improving your quality of life.
My wife and I now have a collection of homestead tools that - if we exclude items like my truck, our rototiller, etc - would have a used-equipment value of maybe $8000. Gardening tools, carpentry tools, electrical, plumbing, concrete, and stone-masonry tools. I figure having these and knowing how to use them saves us maybe $80,000 every three-to-five years. I think that's good. Plus, we've learned to enjoy doing these tasks (at least, most of the time).