» Working Capital

Setting a Wine Budget

March 18th, 2010 — 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

Related Posts

Vintage Red Wine Storage Temperature is an unseen factor when it comes to collecting vintage red wine, and so it is a factor that is often neglected. Unfortunately, it plays a very, very large and significant role in bringing out the best or the worst in a bottle of wine, both when it comes......
Proper Wine Collection Storage Regardless of whether you are just beginning your wine collection or if you have been collecting and building your wine collection for many years, the goal when it comes to collecting wine is to keep them in perfect drinking condition. The whole idea of keeping these bottles around is so......
Collecting Wine Bottle Corks Most people are familiar with collecting wine, and even collecting wine bottles, but one of the types of collections that some people are unaware of is collecting wine bottle corks. Wine bottle corks are often just as unique as the bottles that they are sealing, and people that consider them......
Collecting Wine Label Art Drinking a glass of wine is one of those luxuries that can quickly grow into an obsession with wine bottles, wine varieties and even wine labels. The more that you get into wine collecting, the more you are going to want to document all of the wine experiences that you......
Coca Cola Collectibles Collectibles -> Advertising -> Soda-> Coca-Cola By far, one of the most endearing collectibles that has become popular over the past few decades are Coca Cola collectibles. This company has done a great job of coming up with many ways to create valuable and memorable products that are highly sought......

Related Websites

CNN's Rick Sanchez Lies to Cover Obama's Massive Spending JAMES SIMPSON: Rick Sanchez made a bald-faced lie on CNN yesterday in defense of President Obama’s budget numbers. He was attempting to methodically debunk Republican claims about Obama budgets, arguing that most of the trillions in spending came on Republicans’ watch and Obama just added a little bit. He started......
3Essentials Hosting Customer Reviews 3Essentials Hosting offer both Linux and Windows shared hosting starting at a very low $4 per month for the budget conscious. Both this and the cheapest personal plan, which costs only $1.50, may be a little restrictive for anyone with anything more than a small personal site to host.With a......
How To Retire In Luxury CanadianBusiness.com has some really good articles that are worth reading. Here's another one. How we retired in luxury â on $2,000 a month Herman Heynen as told to Camilla Cornell From the May 2006 issue of MoneySense magazine Seven years ago, when I was 60 I took early retirement from......
Tips and Tricks for Budgeting Many people think that the budgeting process has to be complicated in order for it to be effective but the truth is actually quite the contrary. Once you know what the basics are when it comes to starting a budget and managing your budget, there is nothing that has to......
The Basics of Collecting Wine: Storage Some people choose to go about collecting wine to earn money, and other people get into the art of collecting wine just because they are passionate about wine. It does not matter why you are collecting, for profit or for pleasure, the art of collecting wine is one that requires......