Friday, February 25, 2011

Save Money-Hobbies

Hello again everyone!

One of the areas where I see people spend a lot of their hard earned money is on their hobbies. An example of this is my cousin who is very keen on building and racing model boats. His hobby eats up a huge amount of his savings. Today I want you to think about your hobby, and think about how much you spend on it.

My personal hobby is playing guitar. Over around 6 years I have spent approximately $2500 on products to fuel my hobby. I know people who spend a lot more than what I have spent.

A good hobby is one that you enjoy, and doesn't cost you a fortune. An excellent hobby is one that earns you money back. If crafting/scrapbooking is your hobby, there is potential for you to sell what you make. If I wanted to, I could join a band and play at weddings or at bars to earn back a little bit of money. The possibilities are endless.

I just want you to really think about what it is you love doing, and try and establish ways for you to save money while doing, and if you are really good, you can use your hobby to earn you money.


  1. My big hobby that saves me money (and in theory could earn me money if I lose my current job) is home improvement projects. It might be more than a hobby, but I’m redoing my bathroom myself right now and I’m saving thousands of dollars because I’m not having to hire contractors. I’m learning valuable skills that if I were to lose my nice cushy office job, I could go out and get a job with a contractor.

  2. Hey, Thanks for your comment! DIY is always a fantastic way to save money, and learn great skills at the same time. When I was younger, my father, brother and I completely rebuilt the verandah around the family home, saving something like $15,000 in the process. It took a while, but the skills I learned are extremely valuable, let alone the money we saved!

    Sorry I haven't posted in a while, to those who read it, I've just been so busy with university stuff that I haven't had the time at all. I'm giong to try get it up and running again soon!