How Much Do Your Hobbies Cost You?
The wife and I were recently chatting about our budget. Undoubtedly, we spend too much money. More specifically, we spend way too much on two things: eating out and entertainment. The number of subscription services drafted out of the account monthly is more than I’d like to admit. So, we took a look at our hobbies and considered what was costing the most money, what was worth paying for, and what we can do without. The conversation got me wondering about how much people spend on their hobbies, on average, and how our numbers compared.
Let’s Talk About Books
My wife is a book person. She loves to read and she loves to write. She’d happily run away with the beast from Beauty and the Beast just for a chance to get a minute in that library. About once a month, we will have a Saturday morning outing to the bookstore. This will cost anywhere between $0 and $100 on any given weekend, depending on what is found.
The monthly spend doesn’t stop there though. Audible, Kindle Unlimited, and book club all contribute some too. Audible is $14.95 per month because she pays for Premium to get access to free podcasts, books, etc. Kindle Unlimited? Another $9.99. If she didn’t think to check either of those platforms for this month’s book for the club she runs then there is another $20 book purchase in there somewhere.
All in all, the average monthly spend on my wife’s page-turning hobby lands around $100 total.
Gaming, Streaming, and More
When it comes to what I like to spend time doing, blog readers already know I’ve spent time putting together a sweet gaming setup. I enjoy playing games, streaming, listening to podcasts, and video editing. That being said, my hobbies can get a little pricey.
Monthly subscriptions for games are more common, you have to pay for new content. Not to mention, when the items are used regularly, headsets, controllers, mouses, and keyboards need to be replaced. When all is said and done, my monthly spend on gaming/tech lands right around my wife’s monthly spend on books.
So, what does that mean? Are we overspending?
How Much People Spend on Their Hobbies
It has been reported that younger people (folks under 25) are spending more than $100 per month on entertainment/hobbies. The problem there is that many of those individuals don’t have much more than that for discretionary spending each month. So, when an emergency arises, they can’t cover it.
The most important thing to remember is that you need to cater your entertainment expenses to your budget. So, if you only make $2,500 per month and $1,800 of it is used to cover your basic needs (housing, utilities, transportation, food), you will only have $700 leftover. Of that money, $100 is a lot to spend. You need to adjust based on your own personal finances.
While $100 seems like it might be a bit high, it fits into our budget. In general, that is what matters. As long as you evaluate your finances and make room in your budget for it, you will be able to pay for the things you love to do. For me and my wife, that is reading and gaming.
What are your hobbies, readers? How much do you spend on them each month?
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Drew Blankenship is a former Porsche technician and lifelong automotive enthusiast. Recently, he began writing for several websites and is enjoying the career change. He lives in North Carolina with his wife and their dog Enzo.