I have a yarn fund, and it’s one of my favorite things.
It came about back in July of 2009. I was fretting about how much I was spending on yarn, and I was setting limits and talking about going on YET ANOTHER yarn diet.
You know, because all the yarn diets I’ve been on have been super successful.
My friend Christine suggested putting aside $5 for every completed project.
I thought this was brilliant.
So, from there, I made some rules based on my circumstances and my goals.
For one, my stash was rapidly outgrowing its storage. This isn’t really a comlaint. However, at the rate it was growing, it was pretty clear that the only way I’d be able to knit all of it if I was hunkered down in a bomb shelter after the apocalypse. Or the apocalypse would never come, and I’d be featured in an episode of “Hoarders.”
Second – holy crap, I was spending a lot of money on yarn. I don’t remember the exact figure (and I’m not going to look it up), but it was a bit frightening.
So this yarn fund was going to allow me to spend money guilt-free, but not give me so much money that I’d be able to continue buying yarn willy-nilly.
So, I set up some rules. These are entirely my rules. You may adjust them as you see fit.
#1 – $5 for every finished project.
#2 – By FINISHED – I mean, all ends woven in, assembled (if it needs assembly), blocked (if it needs it – socks I don’t block). Though it doesn’t have to be dry. Feel free to transfer money into the yarn fund as soon as you have that last pin in!
#3 – I don’t count “small” projects or swatches. Beer sweaters, cat hats, coasters, pot holders etc. don’t count. That’s just me. I worry that if I did, the yarn fund would be really full, and my stash would get further out of control. The whole point of the yarn fund is to focus me on buying the things I REALLY want.
#4 – The fund is to be used for yarn, needles, patterns, books, equipment and classes. No other funds should be used, unless it’s birthday money.
#5 – 10% of extra money from tax refunds or bonuses can go in the yarn fund if I feel like it.
#6 – When on vacation, the yarn fund doesn’t really come into play, and I buy yarn with holiday money and go nuts.
So, that’s basically it. When I stick to it, I do rather well. I use what I have, finish projects, and any purchases I make are for things I REALLY want, and that’s really the point.
The only really essential rules are #1 and #2, though you can definitely adjust #1 to your liking (like, more money for sweaters, or a $1 per beer cozy. Really, it’s entirely up to you).