» Wine Purchases | Collector

Setting a Wine Budget

November 13th, 2011 — Wine Collecting

doubls When it comes to collecting wine, collecting wine bottles, or really any other type of collection for that matter, one of the first things that you are going to want to have figured out is your budget. Step one in the process of collecting wine is to set your wine budget.

Wine collecting is a hobby that can quickly and easily get out of your hands if you are not careful. In your personal quest to find more great wines, you could potentially lose sight over just how much money you are spending in the process. If you want to keep yourself from dipping into rainy day funds and savings accounts, it would be sensible for you to begin your wine collecting hobby by setting a workable wine budget.

It is important for you to understand exactly how much of your working capital you are going to be able to allocate for the purpose of wine purchases, and then once you have this wine budget laid out you are going to want to stick to it as closely as you possibly can. Think about this, for example: At an average price of $10 dollars per bottle, the average case cost for wine is going to be $120. If you are going to be buying a case worth of wine every single month, then you will be spending a little less than $1,500 dollars every year. This may not seem like much at all, but how many of us are only spending $10 for every bottle of wine that we buy?

The reason why $10 was chosen for this example is to make the math seem a little easier, with the nice rounding up to $1,500 per month. At $20 dollars for each bottle, and a case purchased every single month, the cost goes to $3,000 per year. At $30 dollars per bottle of wine, and a purchase of one case per month, the cost per year vaults up to $6,000 easily.

At this point, you should get the picture pretty well.

Here is something else that you are going to want to think about: If you are buying a case every month, then you are buying 12 cases worth of wine in a year. In total, then, you are buying 144 bottles of wine in the span of 365 days. In the span of 365 days, drinking 144 bottles of wine means that you are going to drink a bottle of wine every third day, which equates approximately two bottles every week. For some people, this is a lot of wine. For other people, this may be less wine than they normally consume from day to day.

At the end of the day, the thing that is important above all else is how much money you are actually capable of affording to spend on this particular past time.

Photo Credits: { Kris }

Originally posted 2009-11-17 03:18:20. Republished by Blog Post Promoter

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