finance plan - budget

I spoke to my parents and we decided that around $1000 (and under $1200) was reasonable for my HSC Major Work.

They knew my passion for woodworking and how important this subject is for me, and that I wanted to build something that would last for many years, so this was a worthwhile investment.

My costing estimations were:

Wood $750 Hardware $100 Finishing $100 Unexpected costs $100

Total $1050

�32

Finance Plan - BudgetCostings WhatIpaid Actualvalue AlternatequotesWood(Armourtimber) 1,166.73$ Wood(Anagote) 1,300.00$

Wood(Rallistimber) 1,390.71$Veneeredback(SpecialtyWoodVeneerPanels) -$ Veneeredback(Briggsveneer) 214.00$Plywoodforveneering(Bunnings) 21.80$WoodSample(Anagote) 10.00$Woodsample(Armour) -$Plywooddrawerbase(schooloffcut) -$

PureTungOil500ml(TheWoodworks) -$ 46.00$ Osmooil(Eurostyleflooring) 69.70$CitrusTerpene250ml(TheWoodworks) -$ 27.15$ Osmooil(CoopersStore) 140.00$CitrusTerpene500ml(TheWoodworks) 27.00$ Carbothanecleartimbervarnish(Carbots) 34.00$PureTungOil250ml(TheWoodworks) 35.00$Microfibreroller(Bunnings) 7.48$600gritsandpaperclothback(TheWoodworks) -$ 14.00$Sandpaper(TheSandpaperMan) 37.85$

Cable(Jaycar) 67.80$Switch(Jaycar) 24.25$Alligatorclips(Jaycar) 15.95$Microwave(oldonefromgrandmother) -$ Ebay 40.00$Woodenhousing(woodlyingaroundhome) -$

PerfectcoatEpoxy(Carbatec)SplitwithJP 32.50$ Weststystemepoxy(Carbatec) 92.00$Syringes(GymeaPharmacy) 4.00$Acetone(Bunnings) 20.00$Titebond3glue(Carbatec) 15.00$ Titebond3glue(Anagote) 30.00$

Brussohinges(TheWoodworks) 189.85$ 210.94$ Hinges(VeneerInlay) 14.80$Panelpins(TheWoodworks) 14.29$ 15.88$Screwsforhinges(TheWoodworks) 12.84$ 14.27$Drawerlockandkey(ChippendaleRestorations) 20.00$Rareearthmagnets(Carbatec) 20.00$2escutcheons(ChippendaleRestorations) 10.00$Figure8clips(Bunnings) 3.44$

Bahcochiselset(Facebookmarketplace) 75.00$ Bahcochiselset(TotalTools) 199.00$StanleyFatMaxChiselset(Bunnings) 119.00$

Glass(SydneyGlass) 27.50$ Glass(Glo-rite) 80.00$

Total 1,858.28$

Note:Wherethereisnofigure,Iwasdonatedthisequipment

Tools

Woo

dFinishes

Fractalburne

rGlue

s/Ep

oxies

Hardware

Wood The wood was the most important choice. I wanted to use high quality hardwood so that my cabinet can last for generations. I chose to go with American woods, even though I knew they would be more expensive. I saved money by using veneer for the back of the cabinet. Because I only needed a small amount, I rang around veneer places and found someone who was willing to veneer plywood I supplied for free.

Oil In the end I went with oiling the cabinet with a high quality pure Tung oil (rather than polyurethane). Because I was given a starter kit of the oil from Mike at The Woodworkers, this didn’t end up as expensive as the value of what I was able to use.

Hinges I spent a long time agonising over the choice of hinges. I hadn’t thought about what particular hinge I wanted to use, but I started to ask around and someone suggested Brusso. I researched and found they were very expensive. Hinges go from $2, to $15 to $100, with nothing really middle of the range. I asked a lot of people for their opinion on the hinges because it was so expensive. I was conflicted because I had already spent a lot on my wood and didn’t want to have to spend unnecessarily on hinges; however, I didn’t want poor quality hinges that would detract from the project. Amongst woodworkers, the general opinion was that I didn’t want to spend the next 50 years looking at my cabinet, seeing poor quality hinges and wishing that I had got the Brusso ones. In the end I decided to get them because: they are a pure brass; the pin in the barrel is very tight allowing for smooth opening and closing and it will last better over time; and the higher quality hinges have more knuckles making it stronger and smoother.

Fractal Burner Making the Fractal burner was an extra cost. I saved money by re-using what I already had (microwave, wood from dismantled desks). The expert help was free from a family friend who is an electrician. I chose to spend the money making it because I really wanted to try it out and see if it worked and I wanted to do something that would make my major work stand out. When I have finished my HSC, I might try and sell some Lichtenberg coasters and boards on Etsy and make my money back.

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Finance Plan - Significant choices

�34

Finance Plan - EvaluationMy initial budget was under $1200, and closer to $1000. I have spent just over $1800. When I was going into the project I didn’t really understand how expensive some woods can get, especially hardwoods. I spent over the budget I had been given on the wood alone. The American Walnut is what made my project so expensive, but I still decided to go with it because I really like the colour and look of the wood, and it is good to work with - a hard wood that is not so hard that it is difficult to use. (I have used Ironbark on a previous project and it was too hard.)

Unexpected costs The Epoxy was an unexpected cost. When the wood arrived with machining errors, knots and large holes, I needed to fill them. The hinges were an unexpected cost as I had not realised that hinges of that quality and price existed. However, now that I have the hinges, I love the look of them on the cabinet and I think it was worth buying them. I spent money on getting my own set of chisels. This was very helpful during the process to have my own chisels that stayed sharp and weren’t being used by others. It made joinery a lot easier. I saved money on them by buying them second hand.

Alternatives The Budget shows where I looked at alternative prices. I usually went with the best price while also taking into consideration quality. As time went on in the project I got to know more and more people in the industry and buying options, so I was able to make choices based on suppliers who were reputable or who I had found helpful / reliable in the past, which also influenced my choice. More detail on this can be found in my research and justifications (pages 10-24).

Final evaluation Although I blew out my budget, I am really pleased with the display cabinet. I was looking to make something that would be enduring - lasting for many years both in its quality and durability of materials and in its functionality and design so that it won’t go out of date. As well as the monetary cost, I spent well over than 650 hours working on it, so I could never put a true cost on it and I don't want to sell it anyway. I hope that it will last through generations and be used and enjoyed for many years to come.

Finance Plan - Components list

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Bentrails 900? 42 3 16 American

oak

Actuallengthapprox.760??

ShouldIorderitin800or850?

Straightgrainwithno

irregularitiesingrain

Bentrails 900? 42 3 4 American

Walnut

Actuallengthapprox.760??

ShouldIorderitin800or850?

Straightgrainwithno


WoodBent

railsarecut

from

900? 42 19 6or8

(Doyou

get2or

3pieces

from

19mm?)

American

Oak

Straightgrainwithno


WoodBent

railsarecut

from

900? 42 19 2 American

Walnut

Straightgrainwithno


Drawerfront 662 99 19 1 American

Walnut

DoIallowextrafordovetail

stuffup?

Drawersides 443 80 19 2 American

Walnut

Drawerback 644 80 19 1 American

Walnut

Thisisexactlength–doImake

itthefulllengthoftherebate?

Drawer

runner

434 19 19 2 Scrapof

oneof

three

hardwoods

thicknessactually16

Drawerbase 644 425 3 1 MarinePly GetfromBunnings

Cabinet

carcaseback

866 686 7 1 MarinePly

orply?

GetfromBunnings

Doorframe

sides

743 68 19 4 American

Walnut

Doorframe

topand

bottom

331 68 19 4 American

Walnut

Beadingfor

glass–top

andbottom

225 15 19 2? American

Walnut

Actualthickness4.Howmany

piecesdoIgetfrom19thick?

Beadingfor

glass–sides

637 15 19 2? Actualthickness4.Howmany

piecesdoIgetfrom19thick?

Dowelpins

forcarcase

38 10

diameter

10

diameter

32 Rock

Maple

Tallstep

supports

242 19 19 4? Pine GetfromBunnings

Smallstep

supports

121 42 42 3? Pine GetfromBunnings

PartslistDisplaycabinetComponents Length Width Thickness Quantity Species NotesTop 700 450 19 1 American

Walnut

Sides 880 450 19 2 AmericanWalnut

Base 686 431 19 1 AmericanWalnut

19mmcutofffrontfordrawertocoverrunners

Cabinetshelf 682 443 19 1 AmericanWalnut

Widthhasbeentrimmedtoallowforrebatedback–isthatcorrect?Lengthtrimmedslightlyforthroughhousing

Verticallargestep

662 121 19 2 AmericanWalnut

Horizontallargestep


Smallsteptop


Smallstepfront


Smallstepsides


Topsidecompartmentbase

236.5 190 19 2 AmericanWalnut

Topsidecompartmentside


Allowpossible20or40extralengthincaseslidingdovetailsstuffup?

Topmiddlecompartmentbase


Legs 920 64 64 4 American

oakMatchingstraightgrainwithoutknotsorgrainirregularities

Frontthroughdowelledtenonrail

740 68 19 1 AmericanOak

Maybeallowforextrawoodincasetenonstuffsup?

Dowelpinforpinnedmortiseandtenon

50 10diameter

10diameter

2 AmericanWalnut

Onlysmallamount–maybeuseoffcut?

Shortsiderails


Maybeallowextraforcorrectfit

Backlongrails


Maybeallowextraforcorrectfit

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Finance Plan - Receipts

�37

Finance Plan - Alternate wood quotesRallis Timber Pty LtdA.B.N. 75 002 022 17521-29 Marrickville RoadMarrickville NSW 2204t: (02) 9557 5037f: (02) 9550 1883e: [email protected]

Q U O T A T I O N 406658 CUSTOMER/DELIVERY ADDRESS

CUSTOMER ORDER No. ACCOUNT CODE DELIVERY DATE QUOTE NO PAGE INVOICE DATE TERMS

DESCRIPTION QUANTITY UNIT UNIT PRICE AMOUNT

SUB TOTAL

GST

TOTAL(Inc GST)

NO CLAIM RECOGNISED UNLESS RECEIVED WITHIN 7 DAYS OF DELIVERY.

Bank Account Details:- BSB: 062 198 ACC: 10008385 Reference: (Quotation number)

COD TOM NORMAN 0477 66 11 92DEPOSIT / PAYMENT REQUIREDNON ACCOUNT CUSTOMERORDER / DELIVERY HURSTVILLE NSW 2220

TOM COD 406658 1 08/12/2018 Cash Sale

190X19 MM FIN AMERICANH WALNUT DAR LM 5.25 44.00 231.002/0.6 3/0.75 2/0.9

140X19 MM FIN AMERICAN WALNUT DAR LM 13.05 44.00 574.2011/0.75 4/0.9 1/1.2

90X19 MM FIN AMERICAN WALNUT DAR LM 1.65 22.00 36.301/0.75 1/0.9

68X19 MM FIN AMERICAN WALNUT DAR LM 3.45 22.00 75.901/0.75 1/1.2 1/1.5

42X19 MM FIN AMERICAN WALNUT DAR LM 1.8 11.50 20.702/0.9 ===============

68X19 MM FIN AMERICAN OAK DAR LM 3.45 11.25 38.813/0.75 1/1.2

68X32 MM FIN AMERICAN OAK DAR LM 9.6 21.90 210.248/1.2

42X19 MM FIN AMERICAN OAK DAR LM 5.4 5.95 32.136/0.9

CARTAGE/DELIVERY 45.00

1264.28

126.43

1390.71

Anagote: This is $150 more than Armour Timber, but the advantage is that I get to pick my wood off the shelf. Rallis: This is $250 more expensive than Armour, I ordered from this company for my Year 10 Major Work and I wasn’t happy with the wood. I wasn't allowed to choose it off the shelf and the colour I got didn’t match the sample shown.

�38

Finance Plan - Timber receipt

Armour Timber Pty Ltd Invoice #: 68856 Payable To: ARMOUR TIMBER PTY LTDPO BOX 160 SILVERDALE 2752 Date of Invoice: 24/12/2018 Bank: WESTPAC

Abn: 90 158 233 222 Invoice to: TOM NORMAN BSB: 032 372Tel: 02 4774 0400 Contact: 0477 661 192 A/N: 327 529

Fax: 02 4774 0533 Deliver To: TOM NORMANEmail: [email protected] SAINT GEORGE CHRISTIAN SCHOOL

Website: www.armourtimber.com.au

Part # Description Width Thickness Length (m) Pieces Qty Unit Price Price GST Total AMERICAN WALNUT 190 19 4.74 1 4.74 45.97 217.90 21.79 239.69 AMERICAN WALNUT 140 19 11.81 1 11.81 34.52 407.68 40.77 448.45 AMERICAN WALNUT 68 19 4.30 1 4.30 17.26 74.22 7.42 81.64 AMERICAN WALNUT 42 19 1.80 1 1.80 11.51 20.72 2.07 22.79 AMERICAN OAK 68 19 3.18 1 3.18 9.85 31.32 3.13 34.46

AMERICAN OAK 68 32 7.36 1 7.36 18.71 137.71 13.77 151.48AMERICAN OAK 42 19 5.40 1 5.40 6.55 35.37 3.54 38.91

AMERICAN ROCK MAPLE 90 19 1.53 1 1.53 13.82 21.14 2.11 23.261040.66

10% ALLOWANCE FOR CUTTING TRIMING 104.07

PACKAGING & FREIGHT 1.00 20.00 20.00 2.00 22.00

INVOICE TOTAL $1,166.73

Tax Invoice

finance plan - budget

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