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Being a technology enthusiast can be expensive. Buying gadgets is a drain on your budget, learning new skills 5 Ways To Quickly Improve Your Technical Skills Without Spending A Dime 5 Ways To Quickly Improve Your Technical Skills Without Spending A Dime People argue that training costs money - but for technical skills that just isn't true. You can improve your technical skills without paying - assuming you already have internet access that is, which is a... Read More can cost money, maintaining equipment or tools can add up . . . and the same is true of any other hobby (my own hobby, board gaming, can also be very expensive, so I sympathize).

But just because you have an expensive hobby doesn’t mean it needs to take over your budget. There are plenty of ways you can make sure you don’t spend way too much money on what you like to do — which will help you lead a more balanced, financially sound life. Here are six things to keep in mind next time you’re feeling like your hobby is draining your bank account at an alarming rate.

1. Do the Most with the Least

This is a tough one, and it requires a lot of discipline and self-control. In pretty much any hobby, you can go overboard on buying things; it might be a huge collection of books you probably won’t read, video games you won’t play, electronics components you won’t use, or woodworking tools you don’t need. Or maybe you have a tendency to back every Kickstarter 3 Things to Consider Before Backing a Kickstarter Project 3 Things to Consider Before Backing a Kickstarter Project Before you back your first or next Kickstarter project, here are a few things to keep in mind if you don't want to get scammed or waste your money. Read More you see related to your hobby.

No matter what it is, you can make your hobby less of a drain on your bank account by recognizing where you’re spending unnecessary money. And this is the hard part: you have to not make those purchases (or sell off the things you’ve already bought, but probably shouldn’t have). It’s not easy, but visualizing your financial goals How to Visualize Your Debt & Stay Motivated While Paying It Off How to Visualize Your Debt & Stay Motivated While Paying It Off It's tough to stay motivated to keep paying off your debt, but visualizing it can make the process easier. Read More to keep them in mind can help. Keep your long-term goals at the front of your mind, and making sound financial decisions becomes much easier.

Thinking about value is important, too; if you’re considering buying something that you’ll use once for a couple hours, it might be a better idea to save that money and put it toward something that you’ll use for many hours later.

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2. Use Savings Tools

This is an obvious one, but it’s so important that it’s worth having as the first tip in the list. Don’t skip out on potential ways to save money on your hobby because they take effort. Over time, even little savings will add up.

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We talk about different ways to help you save money all the time. From sub-reddits that help you save money on Amazon Save Money on Amazon With These 8 Sub-Reddits Save Money on Amazon With These 8 Sub-Reddits Reddit can be a great place to learn how to save money on Amazon, from shopping tips to great deals. Here are 8 sub-reddits that will help! Read More to using Facebook to get deals 7 Ways to Use Facebook to Save Money 7 Ways to Use Facebook to Save Money Read More to telling you how to best take advantage of Prime 6 Amazon Prime Benefits You Might Be Ignoring Right Now 6 Amazon Prime Benefits You Might Be Ignoring Right Now Scratch the surface. Amazon Prime has so many more benefits that people have forgotten about or simply don't realize exist. Read More , the Finance section at MakeUseOf is packed full of useful information on saving money on all the things you love.

Don’t forget to check Groupon, LivingSocial, and other similar sites for good deals. Sign up for newsletters to be kept up-to-date on sales from your favorite hobby websites (though know that this will tempt you to spend more money 7 Tricks That'll Help You Waste Less Money Online 7 Tricks That'll Help You Waste Less Money Online Read More ). Use coupon-finding browser extensions 10 Money-Saving Browser Extensions That You Should Install Now 10 Money-Saving Browser Extensions That You Should Install Now There are plenty of browser extensions that will compare prices, find coupons, and save you money. Install these 10 extensions now and watch the savings roll in! Read More to help you get a few bucks off of each purchase.

3. Join a Community

A lot of tech-related hobbies can be done on your own; programming, tinkering, building Arduino or Raspberry Pi projects, and so on. But being part of a hobby community has a lot of great benefits; you get to meet new people, learn more about the things you love to do, see new places, and — most importantly for this article — share some of the expenses in doing what you love to do.

denver-arduino

For example, if you get together with people to mess around with micro-controllers and build robots, and there’s a component you’d like, but don’t have, you could borrow one. Or trade someone for something they need. If you know other gamers, you can trade video games when you’re done with them, so you don’t have to spend $60 on a new one. Programmers can trade resources, like books and subscriptions.

By meeting more people who play board games, I’ve been able to significantly increase the number of games that I can play without having to spend a huge amount of money buying them for myself. Finding a group for your hobby 6 Tools to Find Awesome People with Similar Interests 6 Tools to Find Awesome People with Similar Interests Connecting with new people can help you get more out of life. Take the plunge and start making new friends who share your interests Read More is easy with sites like Meetup.com, GroupSpaces, topical forums, and local sites.

4. Sell Your Skills

This won’t work for everyone, but many hobbies teach you valuable skills that other people need. If you like to take things apart, you might be learning to repair electronics Something Broken? Learn To Fix Anything With These 4 Websites Something Broken? Learn To Fix Anything With These 4 Websites You can spend hundreds of dollars to have a professional help you out, or you can learn how to fix it yourself for the cost of some tools and a couple hours of work. Read More , and there are always people who have a broken device they could use some help with. If you love building and tweaking websites, there are a lot of small businesses out there that could use your help (freelance marketplaces can be a good way to get started on this).

teaching-computer-skills

If you know a lot about a specific type of product or good (books, board games, comics, clothes, or really anything else), you might be able to turn your hobby into a side business 8 Creative Home-Based Business Ideas That Anyone Can Pursue 8 Creative Home-Based Business Ideas That Anyone Can Pursue Tired of working for someone else? It has never been easier to work for yourself, right from the comfort of your own home, all with minimal cost and minimal risk. Here are some ideas. Read More of selling. Grab great finds at thrift stores — which you might be shopping at anyway — and sell them on eBay.

Or you can teach your skill to someone who’s looking to learn; put an ad on Craigslist for teaching an electronic skill, tutoring in an area you love to read about, or helping people out with any sorts of problems you can. There are plenty more ways to earn a little money on your hobby; share any good recommendations you have below!

5. Buy Used

This is related to a few of the other items on this list, and it should probably be obvious by now, but it’s so crucial in keeping your hobby affordable that it’s worth mentioning. In almost every situation, buying used The Ultimate Guide to Buying Used Devices The Ultimate Guide to Buying Used Devices I bought my current laptop, a 2011 Macbook Pro, on Craigslist almost four years ago. Here are some tips I picked up during my quest. Read More should be your first option — or at least your first thought. Certain hobbies may be more amenable to this (like my own, books and board games) than others, but just about everyone should go through the various secondhand channels before buying something new.

Whether that means Craigslist, eBay, Amazon, local Facebook groups, specialty websites, or getting in touch with friends, it’s probably going to take more effort than buying new, but it will definitely save you money. And buying and selling used items How to Safely and Profitably Sell Used Gadgets on Craigslist How to Safely and Profitably Sell Used Gadgets on Craigslist Selling used gadgets on Craigslist can be a scary proposition, both for your safety and your money-making prospects, but these tips will help you make the most of it. Read More can be a good way to make some extra cash, so you can further supplement your income that way.

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When it comes to electronics, you’ll need to be especially careful when buying used Should You Buy Second-Hand Tech? The Pros and the Cons Should You Buy Second-Hand Tech? The Pros and the Cons Tech is expensive, so buying second-hand is always an option. But is it a good idea? We take a look at the pros and cons of buying pre-owned gear. Read More ; make sure to do your homework before making a purchase and you’ll be much better off.

6. Budget

This might be the hardest one, and it’s certainly the least fun, but it’s also one of the most important. If you want to keep your hobby from destroying your budget, you’re going to need a budget in the first place. Knowing how much to budget for is difficult, but if you use an app like Mint or YNAB The Online Budget Battle: Mint vs. You Need a Budget (YNAB) The Online Budget Battle: Mint vs. You Need a Budget (YNAB) When it comes to online budgeting and expense tracking, there are plenty of solutions, but two of the biggest names in the business are Mint and You Need a Budget (YNAB). Read More that can look at your past purchases and give you an idea of how much you spend on your hobby each month, it’ll get easier.

mint-budgets

In my own household, we’re dealing with a lot of student debt, so we set a budget for board games that’s a bit lower than I’d like. But it helps us keep paying our student loans and saving for retirement, so it’s worth it. It’s not easy to stay within the budget each month, but visualizing our financial goals and staying motivated to meet those goals has been a big help.

If you don’t have a budget at all, you have some work to do. Check out our introduction to Mint A Beginner's Guide to Managing Your Money with Mint A Beginner's Guide to Managing Your Money with Mint When it comes to free online budget tracking, Mint is king. Read More , download one of these Excel budget spreadsheets 7 Useful Excel Sheets to Instantly Improve Your Family's Budget 7 Useful Excel Sheets to Instantly Improve Your Family's Budget It's not always easy to set up a family budget, but these seven templates will give you the structure you need to get started. Read More , or fire up a Google Drive budget tool 10 Money Management Tools Inside Google Drive You Should Use Today 10 Money Management Tools Inside Google Drive You Should Use Today The problem with money is that if you don't manage it, you end up without it. How about some useful money management tools to help you get started right inside your Google Drive account? Read More ; do something to get started, and you’ll be a big step closer to having your financial life in order. And if you stay financially solvent, you’ll be able to afford your hobby!

Your Best Tips

A lot of hobbies can get expensive, especially if they involve electronics or gadgets. But even hobbies that seem like they should be cheap can quickly end up costing you a lot of money. By using the strategies above, you can help reduce those costs without giving up the things you love to do. There are lots of good ways to save money on your hobbies, though, and we want to hear the strategies you use!

Do you have any expensive hobbies? How do you defray the cost? Or do you just dedicate a lot of your disposable income to it? Do you feel like it’s taking away from other places where you should be spending money? Share your thoughts in the comments below!

Image credit: Money jar with coins by Pachai Leknettip via Shutterstock, Nattapol Sritongcom via Shutterstock, Monkey Business Images.

  1. arava
    November 22, 2016 at 11:33 am

    right now the only place you can earn from your hobby is koocam just saying...

  2. Betty in Eastern US
    July 31, 2016 at 2:11 am

    The public library is a great place to get books for free. As time goes on, more books at the

    library are e-books, so you don't even have to physically travel to the library building

    to borrow books. Free books are especially useful for a title that you will only use once, or to

    preview a book that you might want to keep, as all books don't meet the expectations created

    by marketing!

    • Dann Albright
      August 11, 2016 at 2:49 pm

      I've been borrowing a lot of ebooks from the library lately (including graphic novels), and I'm absolutely loving it. My book budget still gets spent every month, but I can read a lot more for it!

  3. W?adys?aw
    July 29, 2016 at 9:11 am

    Make your hobby your work. E.g. became a scientist.

    • Dann Albright
      August 11, 2016 at 2:48 pm

      As soon as I find a way to become a professional board gamer, I'll get right on it. :-)

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