- ORIGINAL NEWS
Investing in hobbies can be money well spent — just don’t take on debt
- SUMMARY
Americans spent a significant amount on entertainment in 2022, totaling $3,458 on average.
To save money, some might consider cutting back on hobbies, but experts suggest against it.
Engaging in enjoyable activities is essential for self-care, making us happier and sometimes increasing productivity.
Before delving into a new hobby, research beginner-friendly alternatives and look for free or low-cost options.
Explore trial periods, reduced introductory fees, payment plans, and borrowing gear initially.
Consider auditing a class before signing up for it.
Starting small helps you determine if a hobby truly resonates with you before making a financial commitment.
To make a hobby financially sustainable, create a realistic budget that accommodates it.
Avoid taking on debt to fund a new hobby, as it can lead to a forced mindset and obligation.
Studies show spending on experiences rather than material goods often enhances happiness.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“Experts say hobbies shouldn’t be the first category to go.”
“Spending on activities that bring you joy should not be left in the rearview mirror, experts say.”
Negative
“However, if the hobby requires you to take out debt, tread with caution.”
“You trap yourself in a mindset of “I have this boat, I have to use it,” or “Now I have to do the hobby because I’ve incurred an expense for it.””