With so many things to do in the world, it’s hard to stick to one particular hobby. If you’re like me, you like experimenting and trying new things. However, it can get expensive if you keep constantly hobby jumping. So, I decided to come up with some tips to help you save on your new hobby.
My “New” Hobby Ventures
It feels like I’ve done it all: rock climbing, sky diving, mountain biking, scuba diving, piloting, road biking, running, beer brewing, swimming, backpacking, woodworking, arts and crafts, gardening, filmmaking, photography, and many more. They have all been extremely expensive, and some have even put me in a financial pit.
Do You Have Enough Time For a New Hobby?
The first thing I like to suggest is to ensure you have enough time for a new hobby. We may be excited to start something new only to have it not fit into our schedules.
I like to use Scuba Diving as my example. I’ve loved the thought of exploring the ocean floor since I was a child. I spent thousands upgrading my license and buying equipment, only to have it sit in my attic without use. There’s just no time in my schedule that I can allot for scuba diving. And even if I did, I would have to take refresher courses so that I don’t compromise my safety in the ocean.
So, ensure there’s enough time in your schedule for whatever hobby it may be. Dedicate time every day/week/month to practice or train in whatever you want to get into.
Don’t Make Impulse Purchases
My next tip would be not to make impulse purchases; have a little control. The number of times I made impulse purchases in my teens and twenties is stupendous. If you haven’t read my About Me section, I talk about how filmmaking and photography were my hobbies of choice. That was one of my money pits.
During my filmmaking days, I had to have the latest and greatest equipment. I would barely use the new equipment I would purchase, but I felt like I had to have it. It was “cool” technology and I couldn’t live without it. I had no self-control. One impulse purchase after another. During these times, my financial situation was abysmal.
My experience got out of control to the point where my family would have to help me out, not once, but twice. Learn from my mistakes, please. Don’t make impulse purchases. Here are some things you can do before you purchase something you really want.
- Ask yourself:
- “Is this something I need?”
- “Can I still achieve what I want without it?”
- “Would purchasing this item save me more time to be able to make money elsewhere?
- Wait a couple of days
- We sometimes see something online that we really want, and having the power to purchase it right there is not only convenient but easy. Wait a couple of days to see if the impulsivity goes away.
- Consult with others if it’s a needed purchase
Don’t Horde, Resell Old Hobby Equipment
If you have equipment lying around from other hobbies, resell them to fund your new hobby. Don’t horde it; you probably won’t return to it if you haven’t touched it in a while. This one hurts me a bit, but it allowed me to try all the hobbies that I’ve tried.
I won’t lie; I still horde a couple of things because I like to do them about once a year; however, my beer brewing set was worth thousands, and I had not brewed in a couple of weeks. I was losing interest in that hobby and knew it was time to get rid of it in order to fund my new hobbies of mountain biking and rock climbing. It’s hard for me to sell my items because I take such good care of them and never get back anything close to what I paid, but at the end of the day, I’d rather have money for something that’s just lying around the house instead of nothing.
What works for me in my area (Florida) is FaceBook Marketplace and OfferUp. Feel free to use eBay or any other service you prefer.
Buy Used or Gray Market
Once you’ve sold your items, look for used items of your new hobby on those same sites. Buying used is sometimes a gamble; just ensure it’s in good condition. Only you will know if the used item works for you.
A great way of purchasing used items for your hobby is to find a club or group that does the same hobby and ask around. People who are dedicated to their hobbies want to upgrade their equipment constantly, so they end up selling the old. The app I’ve used to find groups or clubs with people of similar interests is MeetUp.
If you can’t find something used that fits your needs, check to see if there’s a gray market for it before turning to a new purchase. Gray markets are distribution channels that the original manufacturer does not authorize. It’s not illegal; the manufacturer just didn’t intend to sell it to your market.
I used a gray market site for my camera equipment. Lenses cost thousands of dollars brand new, but I saved a couple of hundred bucks through the gray market. When I purchased through this market, they gave me lenses, exact same that would have been sold here, but from the Asian market. Manuals may be in a different language, but the equipment works the same. BUY AT YOUR OWN RISK when using these markets.
Conclusion
Starting a new hobby can be exciting but an expensive endeavor. Hopefully, you learned from my mistakes and are able to save some money when you begin your new journey. To recap, you should:
Ensure You Have Enough Time For Your New Hobby
Don’t Make Impulse Purchases
Don’t Horde, Resell Your Old Hobby Equipment
Find New Hobby Items in Used or Gray Markets
What hobbies are you currently into or want to get into? Do you have any additional tips you want to add? Let me know in the comments below.