I want to tackle the topic of hobbies today because for some, it can be perceived as an "un-necessary" expense that stands in the way of debt repayment.
As my blog is about living life without extreme deprivation nor extravagance, I've made it pretty obvious where I stand but do realize there exists a sliding scale unique to each individual / family.
Some questions immediately come to mind.
Would you chose hobbies that are only free or close to free in order to be debt free?
Would you chose to eliminate hobbies / activities that cost money only until you become debt free?
Do you view hobbies / extra curricular activities a necessary part of life or an extravagance?
For those who have children:
Do you go about choosing sports / artistic lessons for your kids based on price?
Where would you "draw the line" with respect to cost?
I have not hidden the extent of my extracurricular travel, lessons and habits. They cost money. My view is that being able to participate in those activities is the reason why I work for money.
There has been times where I feel the desire to cash everything in and live my life out hidden away from everything but that tends to be short lived.
Do I have debt? Yes!
Would I pay off my debt earlier if I didn't travel, ski, eat out etc? Yes!
So yes, I realize that I may be undermining my debt repayment efforts by indulging in higher cost activities while I still owe money.
How I decided to write about this today came last night when I stumbled upon an ad for an aviation headset for sale. Earlier I had updated my sidebars with newer goals and thought the timing may be right to start my flight training this spring after ski season ends.
An initial search for ground school books led to headsets and so on. Now I am in negotiations to buy books and a used headset.
Then I stopped.
Here was yet another high price hobby. Do I really want to do this? It certainly isn't a need. I've changed since my intro flight lesson 3 years ago. This is the question I've been struggling with and don't have a firm answer yet.
Financially, the cost of the lessons won't impact my debt repayment or savings efforts. But I do not want to be doing something because I can vs. really really wanting to. Without passion, the value won't be there and it would be a waste of money.