Comments on: The value of hobbies http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html Financial independence, frugality, self-sufficiency, ecology, capitalism, and voluntary simplicity Wed, 23 Jul 2008 21:38:23 +0000 http://wordpress.org/?v=2.6 By: Jacob http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html#comment-872 Jacob Sat, 29 Mar 2008 22:22:02 +0000 http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html#comment-872 @trihardist - A few points, I think when a hobby has some positive mental or physical side effects, its price tag can be discounted. For instance, a computer expense can be economically justified if it's used to play with operating systems, but less so if it's mainly used as a gaming platform. For sports, one would presumably save some money on health care later on (playing sports IS health care). In terms of expensive sports, my old self would have gone bananas in terms of buying gear. I'm a gear-nerd at heart. However, for instance, instead of paying $2000 more to get a bicycle that's 2 pounds lighter, I think the money is perhaps better spent by taking time to improve the engine (the legs). For instance, there are a lot of people around here on fancy dura-ace carbon bikes in full CSC team wear (why is it always CSC?) who go maybe 15mph. It does not make sense to me spend that much on lowering the bike weight by 2 pounds, especially when they could lose 2 pounds of body weight for the same effect. Admittedly, good gear is nice to have, but it is better to be able to use whatever gear well. Eventually, it all comes down to value/priorities for instance. Lots of people spend fortunes on multi-room houses, big cars, or pedigreed educations. If it comes down to the choice between an extra bedroom at playing my favorite sport, I know what I would choose. @trihardist - A few points, I think when a hobby has some positive mental or physical side effects, its price tag can be discounted. For instance, a computer expense can be economically justified if it’s used to play with operating systems, but less so if it’s mainly used as a gaming platform. For sports, one would presumably save some money on health care later on (playing sports IS health care). In terms of expensive sports, my old self would have gone bananas in terms of buying gear. I’m a gear-nerd at heart. However, for instance, instead of paying $2000 more to get a bicycle that’s 2 pounds lighter, I think the money is perhaps better spent by taking time to improve the engine (the legs). For instance, there are a lot of people around here on fancy dura-ace carbon bikes in full CSC team wear (why is it always CSC?) who go maybe 15mph. It does not make sense to me spend that much on lowering the bike weight by 2 pounds, especially when they could lose 2 pounds of body weight for the same effect. Admittedly, good gear is nice to have, but it is better to be able to use whatever gear well. Eventually, it all comes down to value/priorities for instance. Lots of people spend fortunes on multi-room houses, big cars, or pedigreed educations. If it comes down to the choice between an extra bedroom at playing my favorite sport, I know what I would choose.

]]> By: Trihardist http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html#comment-868 Trihardist Sat, 29 Mar 2008 18:50:30 +0000 http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html#comment-868 I have to admit, I have a *very* expensive hobby, of which I'm very possessive (addicted, actually). I train and race in triathlons. I've spent maybe $1000 total on gear in the past couple of years (although that figure may be a bit high), but I know many people who will spend several thousand dollars a year on gear for three sports. Plus the entry fees for races range anywhere from $20 to $400 (for Ironman-distance races). It's a ridiculously expensive hobby, and the only way I can possibly justify it is that I get paid to do it; I'm a coach and personal trainer. How does a hobby like this--which is arguably beneficial to both mental and physical health--fit into the scheme of over-priced hobbies? I have to admit, I have a *very* expensive hobby, of which I’m very possessive (addicted, actually). I train and race in triathlons. I’ve spent maybe $1000 total on gear in the past couple of years (although that figure may be a bit high), but I know many people who will spend several thousand dollars a year on gear for three sports. Plus the entry fees for races range anywhere from $20 to $400 (for Ironman-distance races).

It’s a ridiculously expensive hobby, and the only way I can possibly justify it is that I get paid to do it; I’m a coach and personal trainer.

How does a hobby like this–which is arguably beneficial to both mental and physical health–fit into the scheme of over-priced hobbies?

]]> By: Shanti @ Antishay Ventenne http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html#comment-800 Shanti @ Antishay Ventenne Wed, 19 Mar 2008 03:05:33 +0000 http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html#comment-800 Haha - I earn enough money from my hobbies to cover the expenses, basically :) I might design and sew three different shirts and the sale of one will cover the cost of all three. While I'm not making a profit, and my time is in no way reimbursed, I can keep sewing and designing as long as I want because the cost evens to $0. :) This is a great post that I will have to reference to when I write about my next challenge :D Haha - I earn enough money from my hobbies to cover the expenses, basically :) I might design and sew three different shirts and the sale of one will cover the cost of all three. While I’m not making a profit, and my time is in no way reimbursed, I can keep sewing and designing as long as I want because the cost evens to $0. :)

This is a great post that I will have to reference to when I write about my next challenge :D

]]> By: AJC @ 7million7years http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html#comment-791 AJC @ 7million7years Tue, 18 Mar 2008 16:04:33 +0000 http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html#comment-791 I don't blog to earn money (but, it is a hobby!) mainly because I don't need the extra $4 or eve $400 a week. But, the principle of earning money from your hobby is a wise one, indeed: 1. If you can EARN money from your hobby instead of just SPENDING it, you are twice as well off 2. If you commit to saving at least 50% of the excess income that the hobby produces, then you can accelerate your Investment Plan 3. If you are extremely lucky ... and work hard at it ... the 'hobby' could become a fully-fledged business allowing you to quit your day job. Thanks for a great post! AJC I don’t blog to earn money (but, it is a hobby!) mainly because I don’t need the extra $4 or eve $400 a week. But, the principle of earning money from your hobby is a wise one, indeed:

1. If you can EARN money from your hobby instead of just SPENDING it, you are twice as well off

2. If you commit to saving at least 50% of the excess income that the hobby produces, then you can accelerate your Investment Plan

3. If you are extremely lucky … and work hard at it … the ‘hobby’ could become a fully-fledged business allowing you to quit your day job.

Thanks for a great post! AJC

]]> By: Steve Austin http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html#comment-790 Steve Austin Tue, 18 Mar 2008 14:52:46 +0000 http://earlyretirementextreme.com/2008/03/the-value-of-hobbies.html#comment-790 Consume not you must ERE yet impact free A simple product Consume not you must
ERE yet impact free
A simple product

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