The first thing I did was to start a spreadsheet with every invoice and part listed, with a column of which area of the car was the money spent on. Below is a bar graph from the spreadsheet giving each area in order of magnitude.

Having a budget, not unlike TV's 'Grand Designs' means that the budget is likely to be blown! First, when fixing a budget, you need an intimate knowledge of the prices of items, the items one anticipates are necessary, and any labour involved. Then a decision needs to be made as to whether to 'leave as' or refurbish/renew. In my case the only item I was definitely leaving was the engine, which I had rebuilt many years previously to a reasonable standard. Since then it has done nearly 25,000 miles, and still sounds good, with good oil pressure.

The first mistake I made, was underestimating how much needed to be spent on the bodywork. I had built up a collection over the years of panels, some purchased at a fraction of the cost of modern equivalents (e.g. a pair of Stanpart rear wings bought at £60 each, new 'Heritage' now £231 each from James Paddocks). EBay is also a good source of parts, I obtained a genuine Stanpart rear inner wheel arch with shock absorber mounting for £100. However when the car was at the bodyshop, and they stripped it down it was found that in order to do the job properly they needed a further £560 worth of panels, which I could not refuse as I wanted them to do the best job possible.