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10 Inexpensive Hobbies You Can Start This Year

10 Inexpensive Hobbies You Can Start This Year

Everyone should have a hobby, but sometimes the costs really outweigh the benefits of discovering one that’s best for you. Not anymore!

This post will show you that there are tons of great, inexpensive hobbies and activities you can pick up if you are looking for a change in your life. From hiking to scrapbooking, you can learn a totally new skill or enjoy the outdoors for less than than a few hundred dollars a year. Read on to find out more about them.

$100 or Less

1. Hiking – All you need is the great outdoors. Well, you need that and some quality clothes of course! When you go hiking, it’s important to get hiking boots that are fitted correctly so that you can avoid blisters and unnecessary foot pain. If you are hiking and camping on the same trip, that will get more expensive since you will likely have to purchase a tent and other supplies. However, if you just want to hike, you can spend less than $100.00 for a nice pair of hiking boots. Oh, and don’t forget to look on the ground for an excellent free hiking stick!

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2. Blogging – Blogging is an awesome hobby to have that might also transform into part-time income some day. All you need is a few dollars to buy your domain name and hosting. For less than $100, you can start off with a smaller site and only spend more for hosting as your site grows. Also, it’s completely free to market your blog on social media and make new friends at the same time.

3. Reading – Reading is such an easy (and often free!) hobby. Whether you love the newspaper or your e-reader, this is quite possibly the best hobby for improving your brain. Reading can actually be 100% free if you’re devoted to your local library.

$200 or Less

4. Tennis – Tennis is one of those sports that can either be very inexpensive or very costly depending on how much time you want to devote to it. If you just want to hit a ball with a friend, all you need to purchase is a racket and tennis balls. However, if you really, truly want to make this a hobby for the long term, investing in some instruction is a wise idea.

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5. Scrapbooking – Anyone who loves scrapbooking can tell you that it can get costly. However, with a little self control, you can make absolutely gorgeous scrapbooks for your friends and family for under $200 a year. Remember to search for supplies on places like eBay and resell the ones you aren’t using to get back some of your investment.

6. Guitar – If you’ve always wanted to learn a musical instrument, the guitar is a great place to start. You can often purchase a used guitar to practice on until you gain enough confidence to invest in a more expensive piece. Ask your friends for lessons or search YouTube for great, free tutorials.

$300 or Less

7. Cooking – Some of the best people in my life love to cook. They enjoy exploring new recipes on free online sites and trying out new cuisine. The endless lists of ingredients can definitely get expensive for cooking experts, but the satisfaction of their family members is well worth it!

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8. Ballroom Dancing – Ever since Dancing With The Stars came out almost a decade ago, ballroom dancing has surged in popularity again. All you need to do is sign up for a class and grab a partner. Most large studios even host dance nights where you can practice your skills, making for a very fun night out.

9. Sewing – Sewing is a great hobby to have. The biggest expense will be the machine. Some experts can spend thousands of dollars on a machine, but if you are just getting started, order a modestly priced one and ask your grandmother to give you some lessons! While you may be tempted to buy all the supplies you will need at once, just build your collection slowly as you add on new skills. This approach will help keep sewing affordable and fun.

10. Video Games – Video games can actually build a lot of skills, although it’s not advised that you spend all your days playing them! For just a few hundred dollars a year, you can purchase a game console and start enjoying time with your friends as you try to beat them to the next level!

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As you can see, there are so many great, inexpensive hobbies that you can take up to fill your spare time or learn something new. Remember, hobbies don’t have to be expensive to be fun! With just a little bit of monetary investment, you can learn a life-changing skill and make new friends along the way.

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Last Updated on January 2, 2019

How Personal Finance Software Helps You Get More Out of Your Money

How Personal Finance Software Helps You Get More Out of Your Money

Do you know what mental health experts point to as the biggest cause of stress in the United States today? If you said “money,” then ding, ding, we have a winner!

Three out of four adults today report feeling stressed out about money at least part of the time. People are either worried about not having enough money or whether they’re putting the money they do have to use in the best possible way.

Your money is either in charge of you or you’re in charge of it, there’s no middle ground. Using some type of personal finance software can help alleviate some of that money stress and better allow you to manage your money effectively. Without it, you may just be setting yourself up for constant financial worry. Life is already tough enough and there’s no need to make it more difficult by simply hoping your money issues will all work out in your favor. Hint: they won’t.

This guide will help you to understand how personal finance software can better assist with both accomplishing long term financial goals and managing day-to-day aspects of life.

Whether it’s tracking the savings plan for your child’s college fund or making sure you won’t be in the red with the month’s grocery budget, personal finance software keeps all this information in one convenient place.

What Exactly is Personal Finance Software?

Think of it like the dashboard in your car. You have a speedometer to tell you how fast you’re going, an odometer to tell you how far you’ve traveled, and then other gauges to tell you things like how much gas is in the tank and your engine temperature. Personal finance software is essentially the same thing for your money.

When you install this software on your computer, tablet, or smartphone, it helps to track your money — how much is going in, how much is going out, and its growth. Most personal finance software programs will display your budget, spending, investments, bills, savings accounts, and even retirement plans, levels of debt, and credit score.

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How It Leads to Financial Improvement

It shouldn’t come as a surprise, but people who regularly monitor their finances end up wealthier than those who don’t. When you were a kid, keeping track of all of your money in a porcelain piggy bank was pretty easy. As we get older, though, our money becomes spread out across things like car payments, mortgages, retirement funds, taxes, and other investments and debts. All of these things make keeping track of our money a lot more complicated.

Some types of personal finance software can help make things a little less complicated, setting you up to meet financial goals and taking away some of the stress associated with money.

Even if you already have a Certified Financial Planner (CFP) some type of personal finance software can be of great benefit. Whereas CFPs focus on the big picture of your money, they don’t handle the day-to-day aspects that determine your overall financial health.

It’s also not nearly as complicated as you might think and can take out a lot of the tedium that comes with doing everything on an Excel spreadsheet or with a pad and pencil.

Types of Personal Finance Software

When it comes to personal finance software, it generally fits into two categories: tax preparation and money management.

Tax preparation software such as Turbo Tax and H&R Block’s software can help with everything from filing income taxes to IRS rules and regulations and even estate plans. Plus, there’s the benefit of filing online and getting your refund check a lot faster than if you were to mail off your forms after waiting in line at the post office.

For the purpose of this article, however, will be focusing more on the personal finance software that aids with money management.

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Money management personal finance software will help you to see the health of your cash flow, pay down debt, forecast for expenses and savings, track investments, pay bills, and do a host of other things that 30 years ago would have practically required a team of accountants.

When to Use Personal Finance Software

So far we’ve gone over what exactly personal finance software is and how it can be a benefit to your money. The next logical step in this whole equation is determining when it should be used and how is the best way to go about getting started using it.

Below are four of the most common and practical ways to use personal finance software. If all or any of these apply to you and your money, then downloading some type of personal finance software is going to be a smart move.

1. You Have Multiple Accounts

There’s a good chance that when it comes to your money, it’s in more than one place. Sure, you probably have a checking account, but you may also have a savings account, money market account, and retirement accounts such as an IRA or 401k.

If you’re like the average American, you probably have two to three credit cards as well. Fifty percent of Americans also don’t have loyalty to just one bank and spread their money across multiple banks.

Rather than spending hours typing in every detail of every account you have into a spreadsheet, many programs allow you to easily import your account information. This will help to eliminate any mistakes and give you a bird’s eye view of everything at once.

2. You Want to Automate Some or All of Your Payments

Please don’t say that you’re still writing out paper checks and dropping each bill in the mailbox. While it’s noble that you’re doing your part to keep postal workers employed, we’re 18 years into the 21st century and you can literally pay every bill online now.

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There’s no need to log into every account you have and type in your routing number either.

With personal finance software you can schedule automatic payments and transfers between all of your imported accounts. Automatic transfers will help to make sure you have the necessary funds in the right account to ensure all bills are paid on the appropriate date. Late fees are annoying and do nothing but cost you money. It’s time that you said goodbye to them once and for all.

3. You Need to Streamline Your Budget

Perhaps the best feature of personal finance software is that it allows you track everything going in and out of your virtual wallet.

Nearly every brand of personal finance software out there has easy-to-read graphs and charts that allow you track every cent you spend or earn, should you choose. You might be pretty amazed when you see just how much you spent on eating out last month or if you splurged a little more than you should have on Christmas gifts last year.

Every successful business on the planet has a budget and using personal finance software can help you trim the fat on your spending in ways that affect your everyday life.

4. You Have Specific Goals to Meet

Maybe it’s paying off debt or saving for up something like a European vacation. Whatever your financial goal is, whether it’s long-term or short-term, personal finance software programs are one of the savviest ways to go about reaching those goals.

You can do everything from set spending alerts to notify you when you’re over budget to automating what percentage of your paycheck goes to things like retirement investments. The personal finance software that you choose should show you exactly how close you are to hitting those goals at any given time.

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How to Get Started

From AceMoney to Mint and Quicken, there ’s no shortage of personal finance software apps out there. Many of these programs are free to download and will allow you to pay bills, invest, monitor your net worth and credit profile, and even get a loan with the swipe of a finger.

Other programs may only offer you limited services and will require a one-time fee or subscription to unlock all that they offer. These fees can often vary from as little as two dollars to 50 bucks a month.

It’s best to start off with the free version and then gauge whether you’re able to accomplish everything you’d like or if it’s worth exploring one of the paid options. Often times the subscription programs come with assistance from financial planning and investment experts — so that can be a real benefit.

When deciding which personal finance software program to use, it’s also important to look at how many accounts you wish to monitor. Certain programs limit the number of accounts you can add. Be sure that if you have checking, credit card, and investment accounts to monitor, that you choose a service that can monitor them all.

Finally, when looking around for the right personal finance software that meets your needs, make sure that you’re comfortable with the program’s interface. It shouldn’t be expected that you recognize every single feature instantly, but if the features don’t seem readable and manageable to you, then you’re not as likely to use it and get the full benefits.

Final Thoughts

Personal finance software can go a long way in helping you to take control of your money and meeting your financial goals. It’s important to note, however, that some focus more on budgeting and expense tracking while others prioritize investing portfolios and income taxes. Explore several different programs and read reviews to find the one that’s right for you.

In this day and age, managing one’s personal finances in a secure manner that allows the user to have a real-time visual representation of their money is easier than ever before. With the numerous applications that are out there — both free and subscription-based — there’s no reason that every person can’t take control of their money and ensure they’re making smart money moves.

Featured photo credit: rawpixel via unsplash.com

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