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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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Published on November 20, 2018

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The truth is, there are many “money saving guides” online, but most don’t cover the root issue for not saving.

Once I’d discovered a few key factors that allowed me to save 10k in one year, I realized why most articles couldn’t help me. The problem is that even with the right strategies you can still fail to save money. You need to have the right systems in place and the right mindset.

In this guide, I’ll cover the best ways to save money — practical yet powerful steps you can take to start saving more. It won’t be easy but with hard work, I’m confident you’ll be able to save more money–even if you’re an impulsive spender.

Why Your Past Prevents You from Saving Money

Are you constantly thinking about your financial mistakes?

If so, these thoughts are holding you back from saving.

I get it, you wish you could go back in time to avoid your financial downfalls. But dwelling over your past will only rob you from your future. Instead, reflect on your mistakes and ask yourself what lessons you can learn from them.

It wasn’t easy for me to accept that I had accumulated thousands of dollars in credit card debt. Once I did, I started heading in the right direction. Embrace your past failures and use them as an opportunity to set new financial goals.

For example, after accepting that you’re thousands of dollars in debt create a plan to be debt free in a year or two. This way when you’ll be at peace even when you get negative thoughts about your finances. Now you can focus more time on saving and less on your past financial mistakes.

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How to Effortlessly Track Your Spending

Stop manually tracking your spending.

Leverage powerful analytic tools such as Personal Capital and these money management apps to do the work for you. This tool has worked for me and has kept me motivated to why I’m saving in the first place. Once you login to your Personal Capital dashboard, you’re able to view your net worth.

When I’d first signed up with Personal Capital, I had a negative net worth, but this motivated me to save more. With this tool, you can also view your spending patterns, expenses, and how much money you’re saving.

Use your net worth as your north star to saving more. Whenever you experience financial setbacks, view how far you’ve come along. Saving money is only half the battle, being consistent is the other half.

The Truth on Why You Keep Failing

Saving money isn’t sexy. If it was, wouldn’t everyone be doing it?

Some people are natural savers, but most are impulsive spenders. Instead of denying that you’re an impulsive spender, embrace it.

Don’t try to save 60 to 70% of your income if this means you’ll live a miserable life. Saving money isn’t a race but a marathon. You’re saving for retirement and for large purchases.

If you’re currently having a hard time saving, start spending more money on nice things. This may sound counterintuitive but hear me out. Wouldn’t it be better to save $200 each month for 12 months instead of $500 for 3 months?

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Most people run into trouble because they create budgets that set them up for failure. This system won’t work for those who are frugal, but chances are they don’t need help saving. This system is for those who can’t save money and need to be rewarded for their hard work.

Only because you’re buying nice things doesn’t mean that you’ll save less. Here are some rules you should have in place:

  1. Save more than 50% of your available money (after expenses)
  2. Only buy nice things after saving
  3. Automate your savings with automatic bank transfers

These are the same rules that helped me save thousands each year while buying the latest iPhone. Focus only on items that are important to you. Remember, you can afford anything but not everything.

How to Foolproof Yourself out of Debt

Personal finance is a game. On one end, you’re earning money; and on the to other, you’re saving. But what ends up counting in the end isn’t how much you earn but how much you save. Research shows that about 60% of Americans spend more than they save.[1]

So how can you separate yourself from the 60%?

By not accumulating more debt. This way you’ll have more money to save and avoid having more financial obligations. A great way to stop accumulating debt is using cash to pay for all your transactions.

This will be challenging, depending on how reliant you are with your credit card, but it’s worth the effort. Not only will you stop accruing debt, but you’ll also be more conscious with what you buy.

For example, you’ll think twice about purchasing a new $200 headphone despite having the cash to buy them. According to a poll conducted by The CreditCards.com, 5 out of 6 Americans are impulsive spenders.[2]

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Telling yourself that you’ll have the discipline to not buy things won’t cut it. This is equal to having junk food in your fridge while trying to eat healthy–it’s only a matter of time before you slip. By using cash to make your purchases, you’ll spend less and save more.

A Proven Formula to Skyrocket Your Savings

Having proven systems in place to help you save more is important, but they’re not the best way to save money.

You can search for dozens of ways to save money, but there’ll always be a limit. Instead of spending the majority of your effort saving, look for ways to increase your income. The truth is that once you have the right systems in place, saving is easy.

What’s challenging is earning more money. There are many routes you can take to achieve this. For example, you can work long and hard at your current job to earn a raise. But there’s one problem–you’re depending on someone else to give you a raise.

Your company will have to have the budget, and you’ll have to know how to toot your own horn to get this raise. This isn’t to say that earning a raise is impossible, but things are better when you’re in control right? That’s why building a side-hustle is the best way to increase your income.

Think of your side-hustle as a part-time job doing something you enjoy. You can sell items on eBay for a profit, or design websites for small businesses. Building a side-hustle will be on the hardest things you’ll do, be too stubborn to quit.

During the early stages, you won’t be making money and that’s okay. Since you already have a source of income, you won’t be dependent on your side-hustle to pay for your expenses. Depending on how much time you invest in your side-hustle, it can one day replace your current income.

Whatever route you take, focus more on earning and save as much as possible. You have more control than you give yourself credit for.

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Transform Yourself into a Saving Money Machine

Saving money isn’t complicated but it’s one of the hardest things you’ll do.

By learning from your mistakes and rewarding yourself after saving you’ll save more. What would you do with an extra $200 or $500 each month? To some, this is life-changing money that can improve the quality of their lives.

The truth is saving money is an art. Save too much and you’ll quit, but save too little and you’ll pay for the consequences in the future. Saving money takes effort and having the right systems in place.

Imagine if you’d started saving an extra $100 this next month? Or, saved $20K in one year? Although it’s hard to imagine, this can be your reality if you follow the principles covered in this guide.

Take a moment to brainstorm which goals you’d be able to reach if you had extra money each month. Use these goals as motivation to help you stay on track on your journey to saving more. If I was able to save thousands of dollars with little guidance, imagine what you’ll be able to do.

What are you waiting for? Go and start saving money, the sky is your limit.

Featured photo credit: rawpixel via unsplash.com

Reference

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