That's quit an amazing amount of money you have spent. I guess the big drain is that you keep losing balls and the question would have to be... why?
If you know you keep losing balls perhaps you should practice with the starter stuff until you get better and then spend money when you know it is safe to do so.
I admit that I went a bit crazy with buying gear at pro level and then again at master but it was no more than about $50 in total and if I'd used my brain more I could have done it for $35 to $40 as an initial outlay.
Now I spend about $5-$7 per month on balls which works out at around $60 per year and I'm almost good enough to start earning credits in the Ready-Goes which will bring that cost to zero. I probably lose one ball per month.
$500??? Seriously man, something is wrong.
As for dropping the wear and tear stats, it is unlikely to happen as it is basically the WGT 'pay as you go' fee for playing the game (which they are entitled to charge as a company providing a service). Without it WGT don't heat their building or pay their staff.
As a bonus you get to play with starter balls and gear for absolutely nothing if you just fancy a game for fun.