Economics of Birds, Bees & Wood
- Constantine J Kitrinos, CPFA
- Jun 15
- 7 min read
We all get the same twenty-four hours in a day, although it's hard for most to envision what it's like to spend time in another person's shoes. I have one son, and I meet people who have four or five kids, say what!? I can barely handle my time spread across my own activities and one child, let alone two or more. Once you subtract the hours spent at your primary job, wrangling the family, running errands, and hopefully getting a little sleep, that leftover "free time" is a precious commodity. I find myself paying for things I used to do with my spare time. I view that as money well spent if it gives me back time with family. Most of the people I talk to spend it binge-watching the latest streaming series or scrolling endlessly on their phones, but I don't seem to have that problem or luxury, depending on how you look at it. But then there are people like my high school friend, Matt Humby, whom I've called the nickname "Virgil" for many years. That goes back quite some time and comes from WWE, formerly known as the WWF for our wrestling fans.
If you want to know what happens when a hobby transcends mere weekend tinkering and evolves into an all-consuming, wildly impressive passion project, you need to hear my latest PennyWise Financial Podcast episode featuring Matt Humby. Dave and I recently sat down with Matt to catch up, swap old stories, and dive deep into his dual obsessions: custom woodworking and beekeeping.
What unfolded was a fascinating conversation about craftsmanship, the value of time, and some surprisingly profound financial lessons hiding in the woodshop and the hive.
The Nursery, the Bench, and a 30-Year Secret
To truly understand Matt’s dedication, we have to rewind the clock. Matt and I go way back—all the way to high school. Even back then, while the rest of us were trying to figure out what we wanted to do with our lives, sports, and girls, Matt already had splinters in his hands and sawdust on his shoes. The best part is, we had no idea.
His journey started with a job at a local nursery where he spent a few seasons working to put some greenback in his wallet just like the rest of us. In between the usual landscaping and plant care, he started doing some basic woodworking on the job. That simple exposure was the spark that ignited a lifelong obsession with the craft.
Now, when most people decide to try their hand at woodworking, their first project is usually a slightly lopsided birdhouse, a basic set of coasters, or maybe a keychain. My son is eight, and he also has an interest in building things. His first creation was a wooden birdhouse he built a year ago - still waiting to be painted and hung. Anyhow, that might be the traditional path for most: start small. Not Matt. One of his very first projects, running things on his own, was a literal massive custom wooden bench that he built and installed right inside his apartment.
Here is the funniest part: almost thirty years ago, I used to hang out at that apartment. I sat on that exact bench countless times, completely oblivious to the fact that my buddy had built the behemoth from scratch with his own two hands. He never bragged or even told us. To a bunch of college kids, it was just a place to sit. I just assumed it was a piece of high-end furniture he’d bought somewhere. When we laughed about that on the show, it really hammered home how natural his talent has always been.
More Than a Hobby, Less Than a 9-to-5
Fast forward to today, and Matt is the proud founder of Humby’s Hive. He isn't just turning gorgeous bowls and crafting custom furniture; he’s also managing thriving colonies of bees and harvesting incredible local honey. Believe it or not there's more to Matt than just those hobbies outside of his job, but we'll stay focused on those, as that's what we chatted about on the podcast.
But here is the detail that makes his story so compelling: this is not his primary source of income. Matt has a full-time career. He has a family. His life is just as busy and chaotic as anyone else’s. At least I think it is. Yet, the woodworking and beekeeping consume massive chunks of his remaining free time. Why do it? Most people, including me, want more freedom and time away from responsibility or time-consuming chores. Why take on the physical labor of milling wood or the logistical headache (and occasional stings) of managing thousands of bees? Yes, pun intended.
Because it’s work that he genuinely loves. It’s a labor of passion. However, just because something is a passion project doesn't mean it exists in a vacuum. And as someone who spends his days looking at markets, wealth management, and the economy, I couldn’t wait to pick his brain about where the art of the craft meets the reality of the bottom line.
Where Main Street Meets the Workbench
It’s incredibly easy to romanticize the life of an artisan, but behind the scenes, Matt has to navigate the same economic headwinds that currently dominate Wall Street headlines. Remember lumber prices a few years ago? I bet you do if you were attempting any home projects. I know I do. Can you imagine running a custom woodworking business? Even if your craft isn't paying your mortgage, the macroeconomy still comes knocking at your workshop door. You basically have two choices: reduce your margins or increase prices. Neither is ideal, but businesses across America faced the same challenges. Virgil was NOT immune to this either.
In our conversation, we pull back the curtain on the real-world financial realities of funding a high-level passion project today. We dive into the tangible impact of inflation and supply chain disruptions. How do rising material costs affect the price of timber for a custom build? How do you figure out the "break-even" point for a jar of local honey when the costs of fuel, equipment, and everyday goods are surging? There are a ton of factors to consider. It's not just the upfront costs of building; it's all the little details that go into it along the way as well.
Matt gives an unscripted, highly relatable perspective on how broader economic factors impact his bottom line. Not just because he's a good friend, but because he's a down to earth kinda guy who's as raw as they come. There's no hiding hiccups along the way or missteps. He's not here to brag about all his achievements. Just the opposite, a humble dude with a knack for making some really cool stuff! It begs a fascinating question for anyone with a side hustle: how do you appropriately value your time and price your output when you're doing something for the love of the game, but the materials to play the game keep getting more expensive?
The Hidden Wealth Lessons Inside a Beehive
Perhaps the most unexpected and fun part of our chat was realizing how much a beehive actually mirrors a well-functioning economy—and a well-diversified financial portfolio. What? Have you never thought of your investment portfolio like a beehive? Me neither. Not until after the show did it sink in.
A thriving hive operates on ultimate, ruthless efficiency. Every single bee plays a highly specialized role to protect the queen, allocate resources, and ensure the colony has banked enough reserves to survive a harsh, unpredictable winter. Sound familiar?
Running a household, managing investments, or steering a small business in today's economic climate requires the same principles. I did learn more about the Queen, how she gets into that role, and who her servants are. Matt even corrects me and Dave when we discuss the makeup of the hive and the worker bees, who they are, what they do, and what they don't do. I learned a ton and found out all the things I had wrong about how hives actually work.
You have to strategize your resource allocation, hedge against bad seasons, and adapt swiftly to external shocks. The bees have been perfecting their economic model for millions of years, and honestly, Wall Street could learn a thing or two from them. Let's be real, Wall Street doesn't seem to learn anything! 😜
Tune In for the Full Story
Whether you're an aspiring entrepreneur, someone looking to turn a hobby into a side hustle, a woodworking geek, or just someone who appreciates a good conversation between old friends, this episode has something for you. Matt’s ability to navigate the rising costs of his materials while still finding immense, grounding joy in his craft is a masterclass in balancing work, life, and passion. You can expect great chatter among buddies spanning a friendship over thirty years, and be ready for some chuckles from the three stooges in this show.
You might just walk away with a new appreciation for the honey in your pantry, the furniture in your living room, and the way you manage your own financial "hive."
🤔Where can you find more information about Matt Humby and his local honey or woodworking? Well, I"m glad you asked...See below and reach out, promise it won't sting!
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