For most people who have hobbies, there are probably certain costs involved. And sometimes, these costs can become excessive and take some of the enjoyment out of the hobby or even limit a person’s participation in a pastime. While hobbies can be great stress relievers and ways to pass the time, partaking in activities that are extremely costly can add financial stress. This is why I enjoy hobbies that don’t cost much money or may even earn me a little something extra.
Hobbies can be expensive
Certain hobbies can be costly. Things like boating, going to the shooting range, going to the casino, caring for certain types of animals like horses or exotic species, flying airplanes, taking music lessons, and similar higher-cost hobbies can really put a dent in the monthly budget. According to Bundle.com, “The average monthly cost of Hobbies for people in U.S. is $70.”
While that might not seem like a lot, it nearly $850 a year, which can be tough, especially for those in retirement who might be on a fixed income, and it’s a number that can pale in comparison to some of those aforementioned hobbies.
Finding productive time fillers
Extra time can be dangerous. Boredom can lead to wasted time or worse, time filled with expensive time-killers. And not having something to do with your spare time can leave you feeling unfulfilled.
However, finding time-fillers by way of inexpensive hobbies can provide you with things to do that leave you with a feeling of fulfillment that might otherwise take a lot of money to find.
Lucrative hobbies can pay for your entertainment
We’ve harnessed the power of multiple hobbies that have kept us busy and saved or even made us money over the years. One such hobby was taking meals that we enjoyed most at our local eateries and learning how to make them ourselves. Not only did this activity prove to be a fun and rewarding family activity, but it cut our meal budget substantially by nearly eliminating the “dining out” line in our budget.
Another fun hobby that we’ve taken up in the warmer months here in the Chicagoland area is that of going to garage and estate sales. We enjoy the thrill of the hunt in such activities, it’s something that we can do on weekends as a family, and we often find things we need like clothes, toys, and sports equipment for pennies on the dollar compared to retail counterparts. Sometimes we even make a few bucks off reselling certain finds either online at area resale stores or through local consignment shops.
And finally, we’ve often found that our home can act as a sort of hobby in itself. From learning how to make various repairs and home improvements ourselves, to learning how to better tend the lawn or grow a garden, we’ve found a variety of home-care tasks that can act as sorts of hobbies.
While not all such activities might be earning us money, they can at least help us save money by not having to pay others to perform these tasks for us or at least keep us occupied and away from spending money on other more costly activities.
The author is not a licensed financial professional. This article is for informational purposes only and does not constitute advice of any kind. Any action taken by the reader due to the information provided in this article is solely at the reader’s discretion.
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