9/25/2017

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Monitor Expensive Hobbies

Most people have at least one hobby, some have more. Hobbies are a great way to keep the mind occupied, meet new people and keep acquaintances going with old friends, to enjoy down time, and to relieve stress. But hobbies, if not kept in check, can add to your stress by relieving your bank accounts of much needed cash.

In other words, hobbies can become very costly and time consuming. There are some hobbies that require a lot of time, some require more physical energy than money, some require very little time and a little money, while other hobbies can be extremely expensive.

There are those who take up hobbies that eventually become legitimate businesses, but most hobbies are not money making ventures and are undertaken as personal enterprises designed to bring pleasure and joy to the hobbyist.

Personal hobbies include gardening, fishing, painting, collecting stamps, coins, crystal products, comic books, dolls, plates, and other collectibles. Other hobbies include reading, writing, cooking, photography, bird watching, stargazing, traveling, and any one of many other activities.

Some people collect cars as a hobby while others restore old cars and trucks and keep them as antiques and collectibles. Boats and airplanes are also bought, restored, and collected along with all the equipment and parts that make them prized possessions.

Some hobbies may not even appear to be hobbies. Golf can be considered a sport because it does provide the golfer with exercise, but it can also be called a hobby because many golf fans become collectors of golf sporting equipment, clubs, balls, tees, head covers, leather travel bags, and other products. There are different brand names of golf shoes, and an array of fashionable clothing items, magazines, and books.

Many people get carried away with sports, going to games, buying memorabilia and souvenirs, buying team jerseys, shoes, hats, and anything that they can find to buy that promotes their favorite team.

In an economy that is weak and unstable, everyone, individuals, families, and businesses alike, has to take a hard look at their financial well being. All expenditures should be monitored and scrutinized, placed in context with other day to day obligations, and one potentially big expense that needs to be watched closely is the costs of hobbies.

This is in no way suggesting that hobbies should be abandoned. On the contrary. Everyone needs to have a hobby of some sort, but everyone should be cognizant of the costs. Keep an open mind when it comes to your hobbies, making sure that your other obligations such as your home, family, retirement vehicles, and other living expenses are met first, and then, by all means, indulge in your hobbies.

When deciding on a hobby, or embracing one that you already have, find ways to minimize the costs. Look for bargains and sales, and then try to purchase only the things that are absolutely necessary to enhance or add to your hobby.

If you are married, try to make your hobby a family affair and don't be secretive about purchases. Keep your spouse informed about the costs. If your hobby starts becoming a little too expensive, try to recognize that fact right away and think about putting it on the shelf until you can afford to take it up again.

 

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