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How Much Do You Spend on Your Hobbies?

by J. Money on Friday, March 1, 2013

hobby collections

What up what up! As our awesome and rare comic giveaway is halfway over at Take Our Stuff.com (it’s a valuable one so make sure to enter!), I’ve started to think about the other hobbies and collections we may have too. Specifically how much we SPEND on them all. Not that it’s bad to throw money against the things we enjoy in life, of course – that’s the point of money! – but that we at least *know* how much of it we’re using as the budgets go by ;)

So this month’s 5 For Friday is all about those favorite hobbies of yours. Here are your 5 questions below, and I’ll kick ‘em off as we always do by answering them first. Time to learn more about y’all!

    1. What’s your current favorite hobby?
    2. How much would you guess you spend on it in a given month?
    3. How does that compare to other bills you have?
    4. If you were rich, would you get into a new hobby?
    5. What if you were poor? What would you change it to? (Or would you?)

RE: Favorite hobbyCoin collecting! D’uh. Though I haven’t been participating much this year out of lack of time and the fact I got most of the coins I wanted from my friend’s collection already, haha… He is holding a $1,000-worth and a $500-worth gold coin from the early 1900′s that I still gotta get though, it’s just gonna take quite the finagling to pull off as you can imagine ;)

RE: Monthly costs — Hmmm…. I’d say I was probably spending about $100 a month for the first few months as I was getting started and picking up all the stuff you need to learn and what not (coin books, value guides, wasting money on coins I thought were really awesome/valuable but were not, haha…) and then it turned into about $200/mo once I got going. All money that comes from my gifts/extra money account which I allow for splurging. I haven’t spent any money on coins though in the past 3-4 weeks and it makes me sad :(

RE: Comparison — I’d say my monthly coin budget (at $200/mo) compares to our cable/phone/internet bill as well as a little more than our cell phone bills – if you can believe that. Now if I were really smart I’d cut out both of those by a half and then increase my coin budget! Haha… but you can only cut out oh so much until it starts affecting your lifestyle ;)

RE: If I were rich — Hmm… great question, self! I honestly think I’d stick with the same thing? You can REALLY go broke in the coin world once you start collecting the super rare ones out there (check out this list of the world’s most expensive coins!), so the beauty of collecting coins is that it spans all types of financial levels. You can spend as little or as much as you want.

RE: If I were poor — In this case I’d still continue collecting coins, however they’d be all modern ones so I can pay the bills again! Haha… I’d trade out all my 19th century discontinued ones in an attempt to no longer be poor anymore ;) That’s the beauty of collecting stuff like this – it’s actual MONEY! Though I’d definitely have to find a newer hobby if I could barely pay my bills and/or have no income/etc… Maybe I’d pick up fishing again or camping? it’s been a while since I’ve done a lot of that, and I remember loving it back when I was a kid with a $1.00/week allowance ;)

Another thing I used to love to collect back in the day? Basketball cards! You only needed a couple of bucks to pick up a new pack of them, and the suspense of finding out what was in them was always worth it each and every time. Even though 99.9% of the time you never got anything super expensive, haha… But one time I did! I was that 0.01% and got a Karl Malone *autographed* card in a pack back in the day when they rarely did stuff like that! (We’re talking mid-90′s here, not to date myself) It was worth an Earth shattering $150 and I never found anything nearly as exciting again after that, haha… even though of course it got me to spend even MORE from that day forward ;)

Anywho, that’s the synopsis of my lifetime hobbies – how about you? How much do you spend on your favorite hobbies? Would you change them if your financial situations were turned? Or do you already spend loads already and you *ARE* poor? Haha…. Tell us the truth in the comments below – we won’t judge, promise ;)

——–
PS: I ended 6 of the 9 paragraphs up there with a winky face, haha… Now 7 ;)


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{ 77 comments… read them below or add one }

1 My Financial Independence Journey March 1, 2013 at 5:58 am

My current favorite hobby is probably cooking. It easily adds $100-150 a month to my grocery budget. And even more if I decide to pursue my passion for wine and spirits too! If I were rich, I’d buy all organic food and have a fully stocked liqueur cabinet and wine rack.

My other hobby is working out. Which so far is pretty cheap. Just a gym membership. If I was rich, I would pay for a personal trainer.

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2 J. Money March 1, 2013 at 5:36 pm

I could use your cooking hobby here :)

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3 Mrs. Pop @ Planting Our Pennies March 1, 2013 at 6:23 am

Haha, so after you wrote about cheap hobbies for the non-rich, I wrote about my favorite hobby that you called cheap, running. =) http://www.plantingourpennies.com/2013/02/15/the-costs-of-running/
1. Running
2. A little more than $100/month
3. About equal to water + sewer + all media subscriptions
4. Nope, but I’d probably run more races =)
5. If we had less disposable money I’d cut back on the races, but they’re such good motivation!

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4 J. Money March 1, 2013 at 5:37 pm

Haha.. it IS a cheap hobby! And can save you hundreds of thousands of dollars too with all those health benefits over time :) Good one.

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5 Jane Savers @ The Money Puzzle March 1, 2013 at 7:00 am

Blogging is my hobby and so far it has cost me $25.00 for a domain name. I pay for internet anyway so it is an inexpensive hobby.

It is my cheapest hobby and if I couldn’t afford the internet I would give it up and just use the free internet at the library and from people in my neighbourhood who don’t have secure wireless internet to keep in touch with family and keep up on my financial reading.

Is it stealing to use someone elses internet?

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6 J. Money March 1, 2013 at 5:37 pm

No comment :) But I do like that blogging is your hobby… I forget that it’s mine too, mainly cuz it’s now my main source of income! Freaky!

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7 Scott March 1, 2013 at 7:05 am

1)What’s your current favorite hobby?
-Coin collecting & Military antiques
2)How much would you guess you spend on it in a given month?
-Average $100-200, couple times a year, $400-500
3)How does that compare to other bills you have?
-low end would be 10% of budget, 24% on high end (but most comes from savings, selling other items, or buying group lots and keeping single items for free). I think smart collectors in any hobby will get to understand the market well, and find opportunities to help cover their collecting costs and help to reduce out of pocket expense. (Example: I bought a lot of 6 items for $200, sold one for $215 and kept the others!)
4)If you were rich, would you get into a new hobby?
-No, just maybe spend more ;)
What if you were poor? What would you change it to? (Or would you?)
-Same, just scale back, appreciate the collection I do have more than focusing on purchases, refocus to a cheaper side of the hobby

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8 J. Money March 1, 2013 at 5:39 pm

FUN!!! I’m looking at my old case full of Civil War buttons and bullets I found metal detecting back in the day :) It helps growing up on old battle sites, haha… Even found one of the first Indian Head pennies too in the ground! Much more dear to my heart than those I’ve bought or traded for – I really earned that one!

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9 John S @ Frugal Rules March 1, 2013 at 8:15 am

I actually just took up a new hobby of brewing my own beer. My wife got me a pretty nice set up for my birthday a few months ago and just got started. I imagine I could spend as much or as little as I wanted. If I like it, who know, I may just start trying making my own wine too. Boy, do I remember basketball cards….actually baseball cards were my thing. I’d hate to think how much money I spent back in the mid 90′s. But, getting that Ken Griffey Jr rookie card made it all worth it. ;)

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10 J. Money March 1, 2013 at 5:40 pm

I found a Griffey Jr rookie the other day at a yard sale!! For $3.00!! Haha… I was excited about it, but not nearly as much as if we were back in time 15-20 years :)

Let me know how that beer brewing stuff goes though.. I’d love to try that stuff out.

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11 chubblywubbly March 1, 2013 at 8:32 am

(1) Current favorite Hobby: Books, but it has been my favorite hobby since elementary school
(2) Expense: $50 a month or less
(3) Compared with other bills: minimal
(4) If I were rich, I would own a giant library of books. All paperbacks because hardcovers are too heavy
(5) If I were poor, I would read them in the bookstores or the library. I am a speed reader, one afternoon at either place and I can read up to 5 books.

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12 Michelle March 1, 2013 at 8:38 am

W always says I have no hobbies. Unless you count blogging and shopping :)

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13 Julie March 1, 2013 at 9:13 am

1) Hobby – Collecting postcards
2) Expense – probably around $25/mo sending postcards to others (via postcrossing.com)
3) Equal to – my entertainment budget for month (hulu, movies, etc.)
4) Rich – yes, I’d probably invest more in sending/receiving postcards from around the world then.
5) Poor – yes, but less sending. It’s not a very expensive hobby and I can be pretty flexible at it if needed.

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14 J. Money March 1, 2013 at 5:42 pm

I love that idea!!!! Who needs email anymore?? :)

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15 Brian March 1, 2013 at 9:32 am

1) Coin collecting
2) Hard to say since I save for a long time to buy nicer pieces… I guess I put aside around $50 – $100 / month for this
3) Its about what my electric bill runs in the winter
4) Maybe, I might start collecting nice time pieces. I have a couple but there are some amazing time pieces out there.
5) Probably lower my budget and just take longer to get nicer coins.

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16 Greg@ClubThrifty March 1, 2013 at 9:46 am

What hobbies? Blogging is the only hobby I have time for now. That and watching Game of Thrones multiple times.

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17 Emmy March 1, 2013 at 9:55 am

I have a lot of hobbies, but I guess I’ll just share the one that’s consuming my life at the moment.

1) Hobby- Community theatre

2) Expense- I did have to fork out money for this one. Usually I don’t really, but we have to provide our own costumes and this show I didn’t have it just sitting in my closet. I also had to buy a ton of music .And it costs me some in food indirectly because of our weird rehearsal times so more often than not I end up running to some fast food restaurant and grabbing something to go for dinner. So that’s a bit extra I normally wouldn’t spend.

3) Compared to Other Bills- It’s really not that bad. Especially since I usually order off of the dollar menu for dinner. Haha. Probably comparable to my cell phone bill which is about $70.

4) If I Were Rich- Probably not. I would probably just expand on this one as well as my other hobbies (blogging, scrapbooking, photography, etc.) Maybe give my theatre more money so we can actually do better shows…

5) If I Were Poor- I still don’t think I would change it. Except maybe I would give all my recipts to the theatre and get reimbursed for everything. I also would more than likely eat a lot more ramen noodles and PB&J instead of fast food.

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18 J. Money March 1, 2013 at 5:43 pm

Cool – I didn’t know you were into theatre :)

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19 LPC March 1, 2013 at 10:24 am

1. Currently, knitting and quilting.
2. Since I read Your Money or Your Life and started a monthly tally, my new average is about $20 since last September. Before that, typically $200/month. I was shopping for my hobby instead of actually doing my hobby. Now I’m working from supplies I have in my stash. I have enough to keep me going for at least two years.
3. Compared to my other bills, $20 is very low for the entertainment I’m getting.
4. If I were rich (and not working), I probably wouldn’t get a new hobby, but I would travel more to learn more techniques in my hobbies.
5. If I were poor, I would still pursue those hobbies as you can be as frugal or expensive as you want to be. Lots of people donate yarn and fabric they no longer use to charities and thrift shops, or sell cheaply through garage sales.

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20 Lisa March 1, 2013 at 12:39 pm

@LPC

Me too!!! I like to scrapbook, knit, and sew. I found myself constantly buying supplies for projects that I would never start. I determined recently that I was seriously limiting any new purchases by just working with what I have. It has been awesome. Now, I’m actually crafting instead of browsing Michael’s and Joann’s while imagining that I’m crafting. LOL!

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21 J. Money March 1, 2013 at 5:44 pm

You ladies are funny :) I hope you have stock in Michaels!!

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22 Christopher @ This that and the MBA March 1, 2013 at 10:29 am

What’s your current favorite hobby? Blogging and this time of the year watching college basketball
How much would you guess you spend on it in a given month? I spend alot of time but not too much money on these as they are both relatively inexpensive.
How does that compare to other bills you have? ehh bills suck so having one more that is about 10 a month isnt too bad.
If you were rich, would you get into a new hobby? Yes definitely, I find real estate investing very intriguing. Just the cash flow doesn’t allow me to pursue that
What if you were poor? What would you change it to? (Or would you?) Hmm when my wife and i were first married we were poorer than most. 1 income one job 2 masters degrees. So I think during that time mostly i spent my evenings doing home work at barnes and noble. I wish I liked to read but I cant stand it. I hear so many people reading books and talking about how great they are. I just lack attention to be able to sit and read!

J$ I know you collect money and stuff, ever consider going metal detecting? I saw a show on tv the other day I think its called diggers or something.

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23 J. Money March 1, 2013 at 5:46 pm

YUP!! I used to metal detect for yearrrrrrs growing up. And actually found some coins before! Before I collected them, but still – one of my favorite hobbies on Earth :) (Literally). Now I just go during our yearly beach weeks and look for change and gold watches burried in the sand, haha… one of these days I’m going to find one!

I also share your problem with books. Never been one to sit down and read for hours :( Although if you give me a pile of magazines I could be quite content!

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24 SavvyFinancialLatina March 1, 2013 at 11:41 am

I don’t have a lot hobbies. Actually, I don’t think I have one single hobby lol. Other than working out and blogging. Although most of the time, working out is something on my to do list. I enjoy it but I would rather be on the couch.

Hobby- Working out, blogging
Spend- Working out $0. No gym membership, clothes are a sunk cost and I spend no more than $50 a year on workout clothes. I spend $60 on good running shoes every year (sunk cost). Blogging is free right now
How does that compare to other bills you have? My expense is miniscule. Especially when you think about the fact my health is better because I have a healthier lifestyle. Priceless.
If you were rich, would you get into a new hobby? Probably not. Although I could definitely became a professional shopper if I were rich. I would also love to learn how to remodel.
What if you were poor? What would you change it to? (Or would you?) I have been poor! And I still kept the same hobby :)

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25 J. Money March 1, 2013 at 5:48 pm

Working out is a great one :) To me it’s more of a “chore” than hobby though, haha… unless we count playing soccer/football. In that case I’m in heaven!

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26 Financial Black Sheep March 1, 2013 at 11:48 am

1) Photography, coin collecting, writing, cooking, programming, interior design, video games. Probably somewhere close to that order of most favorite at the beginning.
2) I don’t spend a whole lot on any. Most are free with the stuff I have, coin collecting is only done for my anniversary, and video games are done with fun money.
3) It compares to my current cell phone bill of $2.50 a month
4) I would learn more, which would cost more. Probably take up traveling as a hobby I do more than once a year.
5) I wouldn’t have fun money, but would still try to do all of the above or at least some of the above.

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27 Edward Antrobus March 1, 2013 at 1:12 pm

1) Like MFIJ. mine would have to bee cooking. Another is eating. Luckily, one kind of leads to the other. :)
2) I cheat here. I have to eat anyway, so I get to lump my hobby into the non-discretionary side of the budget! We are currently spending about $250/month on groceries. As a hobby, that’s crazy expensive. As a necessary household activity, it’s pretty good. For recipes that I try specifically for my blog and my wife won’t eat, I probably spend another $100-150 per year coming out of my “me” money.
3) Rent and the monthly car payment (3 more months to go!) are the only things in our budget that are more expensive.
4) If I were rich, I’d probably get into the hobby of watching new release movies every week.
5) If I were poor, I’d still have to eat! Haha. I’d probably scale back on new recipes a little.

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28 J. Money March 1, 2013 at 5:48 pm

That’s a good type of “cheating” :) And it’s better for your health!

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29 Jose March 1, 2013 at 1:23 pm

My current hobby is Scuba. It’s a bit more than a hobby since I want to work in the industry as a semi-retirement but I have to tell you it is not a cheap hobby! I am fully equipped for recreational diving as well as for professional diving. All told, I have at least $6000 invested in equipment. If that sounds like a lot, it isn’t, I know divers that are in the 10k + range for their equipment. The good news is that as a professional (part time) there are some tax breaks and write-offs to maintaining and replacing my gear. Not enough to offset the cost but at least it’s a small consolation.

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30 J. Money March 1, 2013 at 5:49 pm

FUN!!! You’ll have to write a ‘side hustle’ post for me once you’re making money from it :) I bet a lot of us would be interested in learning how it all works.

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31 Simple Economist March 1, 2013 at 1:27 pm

I would say I spend a fair amount on my hobby golf. Over the years I would play about once a week and it would end up being around $80 or so a month. We just switched over to playing a lot more tennis which has a lot lower variable cost! Still enjoy getting outside and playing around!

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32 maria@moneyprinciple March 1, 2013 at 2:16 pm

Great questions! So here we go:

1) Chasing marathons
2) About $250 (£170)
3) It is slightly less than what we spend monthly on food
4) If I were wealthier, I would chase marathons further afield; spend more time where I run them and start chasing ultra-marathons (don’t even think to ask; I am that daft)
5) If I were poor, I’ll run to the marathons; and this will involve some swimming given that I live on an island so I may as well go for triatlons :)

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33 J. Money March 1, 2013 at 5:50 pm

Hahhahahhaa…. good one :) I saw your email btw – will respond as soon as I can!

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34 lauren March 1, 2013 at 2:25 pm

1. Both my husband and I play team sports (he plays soccer, I play volleyball, together we play flag football and slow pitch softball).
2. Hard to tell, inter murals are free for both of us (I’m a grad student and it’s a spousal benefit for him) and city league teams run $30-50 per season. Then there’s the usual, but minimal, upkeep of equipment.
3. Membership/team dues come out of our monthly “fun money” budget for whatever month they occur in.
4. If we were rich, we’d probably continue with hobby life as usual; I’d be willing to bet I’d acquire some fancier scrapbooking/crafting supplies though.
5. If we were poor, we’d probably ditch the paid teams and just play pick up games or IM leagues.

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35 J. Money March 1, 2013 at 6:58 pm

YES! Love sports!! And that you play flag football, that is all kinds of sexy, haha… Great to get some blood pumping too :)

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36 Crystal @ Prairie Ecothrifter March 1, 2013 at 2:57 pm

1.What’s your current favorite hobby? I’ve thought about starting a lighter collection since I think they look awesome, but I think blogging (just blogging without the extra stuff for money) is my only real hobby.

2.How much would you guess you spend on it in a given month? $40

3.How does that compare to other bills you have? Less than my husband’s massage membership, lol. It’s about what we pay for water.

4.If you were rich, would you get into a new hobby? I might get another one, but I don’t think I’d stop blogging.

5.What if you were poor? What would you change it to? (Or would you?) Nope, I’d keep it up.

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37 J. Money March 1, 2013 at 5:51 pm

Lighter collection, as in things that make fire? There *are* some cool ones out there! Especially back in the day… In fact, I have a broken gun lighter from the 50s I believe sitting on my desk :) It would be cooler if it actually WORKED, but still – pretty fun item.

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38 Melinda Gonzalez March 1, 2013 at 3:58 pm

1. Roman Coin Collecting – They call them “krusty romans” when you buy them dirty (straight from excavation). It’s more fun to buy the dirty ones because you don’t know what you have until you clean them, which can take months. It’s like playing a drawn out Roman lottery.
2. About $20.00 – Their pretty cheap
3. It’s cheaper than my dog’s treats.
4. If I were rich I would just move to Rome and dig them up myself, haha.
5. If I were poor, I would probably just buy them less often. It’s a fun cheap hobby.

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39 J. Money March 1, 2013 at 5:54 pm

Woahhhh I want some of those!!! I like surprises, especially when they have to do with coins! Totally Googling for that – thanks!

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40 Nick @ ayoungpro.com March 1, 2013 at 4:09 pm

What’s your current favorite hobby?
Golf
How much would you guess you spend on it in a given month?
Averaging the summer of 12 months I would say $40/month.

How does that compare to other bills you have?
Larger than most of my “entertainment” type budget items.

If you were rich, would you get into a new hobby?
I think I would travel more.

What if you were poor? What would you change it to? (Or would you?)
Definitely wouldn’t golf as much. I think I would change my hobby to working. :)

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41 J. Money March 1, 2013 at 5:54 pm

Haha… good one ;) Or you could switch to putt-putt!

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42 Matt March 1, 2013 at 6:18 pm

J, you and I share the same passion… and we’re about the same age. Have you ever noticed how we’re MUCH younger than 99% of the coin collectors? I just started a blog about my “collecting”. Check it out. http://www.mycoinblog.com

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43 J. Money March 2, 2013 at 9:12 am

YES!!! Haha… I did notice that :) Another thing I noticed is that 99% of coin people are nice! Not that I was expecting them not to be, but it was pretty shocking… at least at the convention I hit up.. Some of the dealers I’ve been to since can sure use some customer service skills ;)

Here’s a post I wrote up no it if you’re interested:
http://www.budgetsaresexy.com/2012/11/things-learned-at-first-coin-show/

Going over now to check out your blog! Good for you on getting it started!

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44 Tony@WeOnlyDoThisOnce March 1, 2013 at 6:50 pm

Oh man, That X Men comic brought back some serious memories! I used to collect comics like a mad man! Now it is golf. I absolutely adore it but it is sooo expensive…great game.

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45 stephanie March 1, 2013 at 11:36 pm

@maria-girl, go get yourself some ultras! when i was a bit younger i ONLY competed at marathon distance or beyond. what an awesome way to get to know yourself, and know what you’re truly made of. i’d love to hear/read of your adventures!!!

i collect vintage jewelry, mostly reinad. signed. it’s not that expensive (she keeps telling herself) since i limit what i’ll spend on any given piece. some months i don’t buy a thing, then i’ll find 3-4 in a month and have to choose. i don’t think there’s anything comparable in my budget; this IS a line-item in my budget.

now if i were rich, i’d collect…perhaps vintage/old/antique books. good heavy hardback ones. being poor, i’ll just keep collecting jewelry. it’s fun, funky, and can be a great conversation starter.

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46 J. Money March 2, 2013 at 9:13 am

Heck yeah it is! I love a girl with taste :)

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47 Sandi March 2, 2013 at 12:42 am

1. Running (currently training for a 1/2 marathon)
2. This is tough. I’ll say about $50-$75 on average. I really should keep track of this…
3. It’s less than our cable/phone/internet bill!
4. No, I would just a) run more races and b) travel to races (i.e. every RunDisney event)
5. I wouldn’t change it, I just wouldn’t be able to enter as many races or buy fancy gadgets

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48 Doable Finance March 2, 2013 at 1:19 am

Well! It’s not my hobby but lately I have been cooking a lot – all three meals a day. It has been shoved my throat by the family. I cook because I have to not because I want to. But it’s not that bad. I save money in the process by not going to restaurant more frequently like we did before.

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49 Leslie March 2, 2013 at 2:08 pm

1.What’s your current favorite hobby? Essential oils – making homeopathic recipies and aromatherapy oils & diffusers.
2.How much would you guess you spend on it in a given month? When I first started I spent about $250 a month getting all the supplies, but now I spend next to nothing unless I run out of an oil.
3.How does that compare to other bills you have? Very minimal overall.
4.If you were rich, would you get into a new hobby? I would still keep this one, but if going to a spa every week is a hobby, I would do that too!
5.What if you were poor? What would you change it to? (Or would you?) I think I would still do it, but I probably would sell some of the stuff I make to pay for my obsession!

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50 Brian March 2, 2013 at 7:51 pm

You got an autograph from the mailman? Big deal! I got a baby brother.

OK bad joke.

My hobby is baseball cards. It is also my side hustle. I spent a couple grand a month and usually flip for 20 – 40% ROI. Plus I grab some nice Tigers for my personal collection.

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51 J. Money March 4, 2013 at 8:22 pm

NICE!! Want to write up a side hustle about it for me?? I’ve always wanted to know how people do that as I was interested in it at one time :) Say yes?

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52 Mark March 3, 2013 at 8:01 pm

1) What’s your current favorite hobby?
I run and skydive. Though I run more often than I skydive (5 times a week VS 2 times a week), I spend a lot more money skydiving but it really is worth it to me.

2) How much would you guess you spend on it in a given month?
A minimum of $400/month. That is without counting the initial training, gear and additional monthly training.

3) How does that compare to other bills you have?
It is a lot more expensive

4) If you were rich, would you get into a new hobby?
No, I am doing exactly what I have always wanted to do.
I would get more gear, train more with the best coaches and become awesome.

5) What if you were poor? What would you change it to? (Or would you?)
It’s now part of my life. I would work probably become staff at the drop zone and skydive for work vs for fun. I would also focus on just skydiving and not train in wind tunnels to get better at my sport. If what you enjoy is a priority in your life, you find ways to make it happen. It’s just a matter of priority.

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53 J. Money March 4, 2013 at 8:23 pm

Wow – twice a week?? That’s a lot! The one and only time I ever went I was not only hungover (long story) but someone died a few hours after me when the shoot never opened (he was old and they think had a heart attack midair). That was enough for me to check it off the list and move on :) I admire those that really get into it though!

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54 Lacey March 4, 2013 at 3:31 pm

I’m a knitter/crocheter, but it only gets super expensive if you get really fancy with it. I probably spend…about $180-$200/yr total on yarn/yarn accessories. If I got rich I’d probably just buy nicer yarn. And if I were poor…I’d make more practical items!

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55 J. Money March 4, 2013 at 8:24 pm

I like it :) Knitting is really coming back it seems – like it’s trendy with younger people now?

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56 Mario March 4, 2013 at 4:31 pm

I think personal finance is quickly becoming my hobby…On the other hand, I’ve always admired people who are able to do hobbies that — even though they have a high entry cost — find that they are able to roll that over. For example, I imagine there are people out there who buy expensive pieces of art to keep on display in their homes, but are able to sell that art for nearly what they paid for it, which allows them to rotate the pieces they have. Maybe this is so for coins and other collectibles as well.

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57 J. Money March 4, 2013 at 8:25 pm

YES! Definitely possible! Like our friend last week who buys collectible shoes and then wears a few times and admires, and then resells for a tidy profit :) It’s all in the name of hustlin’!

http://www.budgetsaresexy.com/2013/02/i-resell-collectible-shoes-sneakers/

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58 Mario March 11, 2013 at 5:56 pm

That is fantastic! My only fear would be that it would take up too much apartment space (even though the boxes would make for some pretty amazing forts)

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59 J. Money March 11, 2013 at 6:27 pm

Haha, yeah it would.

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60 Skint in the City March 5, 2013 at 6:18 am

Hi J Money, I’m learning to play the piano and it costs £15 per lesson once a week, so £60 (about $90) a month on lesson. There are also extras, like the piano tuner coming this week (£50) and sheet music (not much, say £5 a month). And then the random stuff, like the teacher asking me last night to buy one of her CDs (£5) and me feeling I couldn’t refuse!
If we say the hobby costs me about £80 a month on average that’s a fair bit, probably equal to our gas heating bill each month.
So, when the teacher asked me in amazement the other week why I didn’t start learning piano before now and I told her I just hadn’t got round to it I should have answered honestly – never had the cash! Piano lessons are a luxury that wasn’t really around growing up and I’m delighted to be able to do it at last!

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61 J. Money March 6, 2013 at 3:17 pm

HAH! I can’t believe she asked you to buy her cd??? Man… shameless. But you’re right some hobbies aren’t cheap! Hopefully you’re having a blast playing though :) Maybe you can impress me one night if we ever meet up at a piano bar?!

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62 Janice March 5, 2013 at 4:40 pm

current hobby: Russian language (I like to learn languages for no good reason: try to get a decent reading level them).
Spend/monthly: 5/month: a cd or workbook every 2-3 months. Initially I bought tons of cds and programs: many I didn’t use but now am. Probably spent ~$300 to start.
Other bills: very inexpensive
If rich: yes, my new hobby would be traveling to all the countries to perfect my languages with ‘hobby’ being scrapebooking/photography
if poor: I’d have to find some foreign language speakers to teach me free or use the web.

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63 J. Money March 6, 2013 at 3:19 pm

Wowww that’s so cool!!! You’re like our founding fathers from back in the day – always reading and learning and becoming super geniuses – good for you :)

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64 Janice's sister March 5, 2013 at 4:45 pm

Hobby: short story writing
Cost: nothing-1000/month. If starting from scratch would need a computer and such. Reading fees for contests can be up to 1,000
Other bills: can be expensive on submission/reading fee months
If rich: maybe, I love to write. I’d likely travel with my sister and hopefully get more fodder for my writing. I’m obviously not that great at it because I rarely get anything published
if poor: I’d probably be working two minimum wage jobs to support my family so wouldn’t have time to write

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65 J. Money March 6, 2013 at 3:20 pm

Woah, so you can get paid for your short stories? Like if you win contests and what not?? That’s kinda cool! Didn’t know that!

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66 Ali March 6, 2013 at 4:35 am

1) I buy and collect lingerie, particularly vintage style, corsets, special items with a lot of detail
2) $100-$200 a month
3) It’s expensive :(
4) I would keep the same hobby and have a more extensive collection, but I still wouldn’t go overboard. There’s only so many things I could buy for myself before I felt selfish about it. I’d probably buy enough sets to wear for two weeks (14 sets, I currently have 7), plus some for special occasions.
5) If I was poor I’d buy just a few pieces that I loved but were practical, fit well and good quality, so they would last a while and be good value for money

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67 J. Money March 6, 2013 at 3:22 pm

Now we’re talking! Haha… that was gonna be my next question to you – if you just collect them or you actually WEAR them :) But I see that you do both – good for you. Corsets are freakin’ sexy as hell. Reminds me of all those old burlesque shows/movies/etc. And also Halloween, which I don’t mind ;)

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68 Giddings Plaza FI March 7, 2013 at 2:29 pm

Mr. BudgetsAreSexy, I have been thinking about exactly this topic lately. Thanks for writing about it. I just quit my well-paying corporate gig to work on my own, and have more time just to live my life. But that’s expensive! Tennis lessons, violin lessons…how do we juggle between “living life” and becoming financially independent. Lots to think about.

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69 J. Money March 7, 2013 at 9:10 pm

Yup! And when I left my job to blog full-time I thought I’d have lots of time for life too, but then I just filled it with more projects and work! haha… but at least now it’s really “fun” over work-work… I hope you can enjoy your free time more than I :)

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70 Nick from BayCrazy March 10, 2013 at 8:00 pm

This is a great question… I don’t actually spend much on my hobbies… and my most seasoned and loved ‘hobby’ was more of a… labour of love, a performance art (card magic), and so that was pretty inexpensive as you can imagine!, just cards!

I’m not sure if money you spend on hobbies could ever count as wasteful since, they are your past-times, and you are the sum of your parts – so what better to spend money on than a hobby, a passion or something like that… much better than to throw dollars (I’m British, pretentious!) into the pockets of banks and corporations. Whatever that means!

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71 J. Money March 11, 2013 at 2:38 pm

Are you saying you’re a magician?? Awesome!

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72 Max Hallmark March 19, 2013 at 1:55 pm

1st post to your website, came over from MMM, lots of great content.

My current favorite hobby is woodworking/remodeling. As much for necessity as it is for pleasure in doing the work. I’ve always had a penchant for doing things myself whether it be home improvement or fixing my car. Needless to say I’ve acquired alot of tools this past year probably 3K worth or $250 a month. On the plus side I still saved thousands doing the work myself. I also enjoy working out which is free (P90X at home), and running adventure races like the Tough Mudder. But these races can be over $100 a pop so I normally don’t do more than 2 a year. My wife’s favorite hobby is cooking which probably adds another $150 to our monthly grocery bill, but we eat a minimal amount of processed foods so I certainly wouldn’t change her spending.

Compared to other bills: I would say our hobbies combined equal our monthly electricity/gas/oil (winters are expensive in the NE).

If I were rich I could easily spend $25k on woodworking tools. Since I’m not I’ll have to settle for good enough.

If I were poor: I could still stay in shape, probably wouldn’t spend money on races. I wouldn’t have bought a house that required me to buy tools to restore, and hopefully the less quality food we would have to buy would still be enjoyable.

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73 J. Money March 19, 2013 at 9:57 pm

Nice! You’re like Ron Swanson from Parks and Rec :) Ever go to any woodworking conventions?

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74 Max Hallmark March 20, 2013 at 1:37 pm

Ron Fucking Swanson!

No not yet, it would only depress me and make me want to spend more money than I should. I troll CL’s for certain tools but normally buy new tools. I’m pretty inexperienced when it comes to building from scratch. Alot of times we’ll find furniture such as chairs for the dining room that need to be broken down and reglued/reupholsered/stained, or a piece of furniture such as a dresser to convert into a vanity. My basement and one of my guest BR look like I’m running a shop out of my house. We simply haven’t gotten to it yet. I lack the tools to build most things from scratch, but I plan on slowly accumulating all the tools needed to make my own pieces. Who knows maybe I could use my skills for a side hustle, once I’m done with my MBA I’ll have more time off than I know what to do with.

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75 J. Money March 20, 2013 at 7:46 pm

sounds good to me, brotha. gotta prioritize what’s important.

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76 Jon April 9, 2013 at 10:46 am

My favorite hobby is fixing cars. This hobby doesn’t really cost anything – in fact, it SAVES me hundreds of dollars by not having to pay someone else to fix my cars. It does require you to buy tools, however I think tools are more of an investment. With all the money I save fixing things myself, the tools pay for themselves. I’ve bought expensive tools that paid for themselves the very first time I used them (and they continue to save me money every time I use them thereafter). I’ve bought some tools that I thought for sure I would use once and never need again, only to end up using them again and again.

Fixing cars myself also requires I buy parts. I save money here too, at my side-hustle gig, working at an auto parts store. I get a substantial employee discount. Many people don’t realize repair shops buy parts from a store like the one I work at, then the shop marks up the price even more and pockets the difference. Do-it-yourselfers save not only by not having to pay for labor, but also by avoiding the extra parts mark-up.

Monthly costs – If you count “hobbies” and “auto maintenance/repair” as separate expenses like most people would, then cost of hobbies is zero.

If I were rich – My hobby would start costing me money. I would buy a project car (perhaps a couple, or a dozen project cars, how rich are we talkin’ here? :) ) and spend lots of money fixing it up, probably more money than what the car is worth. Not to mention I already have 2 cars and don’t need any more.

If I were poor – I would pretty much HAVE to pursue my hobby; I wouldn’t be able to afford to pay someone else to fix my cars even if I wanted to (which I don’t!)

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77 J. Money April 9, 2013 at 8:43 pm

HAH! That is an awesome one indeed :) And even better that you’re working the system and hustling at a car parts place! Haha… you, sir, are a smart one. What a brilliant way to learn and have fun all on the cheap. Def. something that will pay off forever and ever!

Thanks for sharing my man.

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