Budgeting for Knitting & Crocheting

Hi everyone, do you always have some time to have fun?

In my case, I do my hobbies to take a break from my daily routine. My hobbies include visiting markets, knitting and crocheting. Yes, I’m very happy going to the local market, especially when I’m traveling. Maybe I will tell you that another time, and now I will share about knitting and crocheting. More specifically, I’ll share budget setting for the hobbies. This is important, because in the current pandemic, income from our job may be reduced. I think almost every country has this economic trend now. There are businesses that are collapsing, some are growing, and there are even emerging new businesses that have never before existed. We call it new normal. Agree or not with that term, it seems like we can’t help but need to adapt to it. We need to manage finances wisely to be able to survive in this condition.

Anyway, I have been living a minimalist lifestyle since 2017, so it hasn’t been too long. But, this lifestyle change all aspects of my life, including financial arrangements. My budgeting ability is getting better. Because of this lifestyle, I am not too worried about my financial condition. I buy things that are needed, and consume things wisely, not too little but not too much either.

I also applied a minimalist lifestyle in my hobby. Having hobby is important to me, because I have room for self-actualization and to amuse myself. I still remember how impulsive I was to buy yarns and pile it up later. From this I learned to do planning before doing my hobbies. Planning is important so that I am wiser in budgeting for these activities. Here are some things that I do in my hobby’s financial planning;

  1. Make yarn stock list
    I have a habit of checking what yarns left after I finish my projects. I made a list of yarn stocks that I have in the sheet file. I write the full description, in the form of yarn type, color, size of hook or needle used, weight of yarn remaining (grams), yarn price (I write this if I still remember the price, lol). By writing down the list, I learned what assets I still had. Sometimes after I finish making this list, I have some thoughts for the next project
  2. Make a list of what to do
    I made this list based on what skills I want to have, events at that time (for birthday gift, wedding gift, meeting), and patterns that I want to make. From that list, I can set priorities for each project. If the project is not too urgent, I put it aside. I will see the project again after completing the project that I prioritized
  3. Plan the upcoming projects
    This step is actually only a summary of the previous steps. I know what will to do in the future. However, sometimes I also change my mind and want to add projects or even reduce projects. If this happens, I repeat the 2 steps before. So actually these steps are very flexible and do not burden me
  4. Calculate yarn requirement and other needs
    Knowing yarn requirement in a project is important. We certainly do not want to run out of yarn in the middle of the project. Making gauge before starting a project helps us find out the yarn requirement. The pattern writer could forget how many yarns in a project. If we use a pattern that we made ourselves, we should recalculate the dimensions of the project size that we will work on and make a precision gauge. After I get how many yarns I will use, I open the yarn stock list file that I have. I always use my yarn stock in my latest project, this way there’s no yarn left unused
  5. Compare yarn quality and price
    I proceed to this step if my yarn stock is really used up, or there is little left. When I do a project that is not too big (e.g: amigurumi, socks, hat), I usually buy promo sale yarn. When I do big projects (e.g: shawl, blanket, curtain), I usually buy bundle promo. It makes me feel satisfied and still save my budget. Only in certain time I buy brand new yarns, but that is very rarely done.

Making new habit is not easy, but it is very possible to do. Good luck with my tips! Do you have a way to set budget for your hobby? Please share, I want to know yours!

2 replies
    • Restidia
      Restidia says:

      as written above, I make yarn list and put it in the specific area where I can see it easily. So I will always remember how many yarns I’ve had. This way somehow makes me realize, “Hmm…you don’t need to buy more then”


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