I agree with pretty much everything in this thread, though I guarantee you have spent more than you think - for some perspective, I used to save > 1/3 of my salary each month, since I started building guitars, I have saved maybe 5-10% so I have started keeping a spreadsheet as of this year.
The spend is pretty much down to acquisition of wood for future builds, investment in larger tools e/g drill press, drum sander etc and also more premium specialist tools like nut files. But the hope is that these tools will last me a long time and they will pay for themselves before too long. There are also the other expenses that would come under overheads. e.g my electric bill is double what it was before I started building guitars. However I am much more of a hermit now preferring to spend time in the garage woodworking than going out socialising/spending money.
I only see the time aspect as important if you're building a guitar for someone other than yourself - but if you are building for others then it is an important factor because for factory guitars (certainly guitars built in Europe/USA with a high minimum wage) staff wages is always the largest overhead. Also wastage is a factor when producing on mass - When I buy wood from someone selling "tonewood" if it comes split etc and I can't use it, I send it back and get a replacement/refund, but when you're a factory churning out 100-300 guitars a day, problem materials just go in the bin until waste is audited, suppliers changed etc. On the other hand, I expect I pay 5x for a mahogany body blank what PRS/Gibson do.
Anyway, going off on a tangent. It's a fucking awesome hobby and I don't really care what it costs