After a long hard work week, the ability to unwind on the weekend is something many of us look forward to. Whether we’re working in the yard, firing up the grill or sipping on a toasted barrel bourbon, the idea is to relax and break free from the stresses of everyday life.
Having a hobby or several hobbies provides an escape from the mundane. More than one person has actually turned their hobby or passion for something into their full time career. My question is, what happens when that hobby becomes an obsession? Over time, what kind of impact does that have on your wallet?
Over the past 10 years, two hobbies have taken center stage: bourbon and grilling/smoking meats. As a fan of both, I can see why these are enjoyable while providing a relatively inexpensive way to relax and have fun. I also know enough about each to understand how they can quickly drain your savings the deeper you fall down the rabbit hole and explore.
The cost of having an extensive bourbon collection can be particularly hard to swallow (see what I did there)? Although you can buy standard bottles for $50 or less, you’ll quickly find yourself waiting in a line at 6am for the privilege of buying a rare bottle for significantly more money. What was once a shelf in your basement to display your collection becomes a storage closet. A handful of lower to mid tier bourbons becomes hundreds of upper tier to rare varieties you’re proud to display.
Grilling can be challenging to keep under control as well. The number of different grills and smokers available to purchase is astounding. Depending on your preference, you can cook with charcoal, propane, wood or all three depending on what you buy. Owning a Traeger, Big Green Egg or Napolean is similar to parking an Audi in your driveway. Rather than spending hundreds of dollars on a grill that performs perfectly fine, purchasing the luxury brand for hundreds more provides entry into an exclusive high end club.
The more money you have the more expensive your hobbies become. Bourbon and grilling become secondary to owning a boat or antique car. Rather than “settling” for a Traeger, having a grill custom made by a craftsman for thousands of dollars becomes a new obsession. It’s easier to spend your money on frivolous things that will bring limited enjoyment for a period of time.
Hobby is defined as, “an activity done regularly in one’s leisure time for pleasure.” Nowhere in the definition does it say how much you should spend or how much of something you need to own. The reality is, a weekend pastime can quickly spiral out of control, draining your bank account in the process.
Regardless of the hobby you choose and how much money it costs, having the right mindset is key. If you have 300 bottles of bourbon with the expendable income to grow your collection, there’s no harm in continuing to buy what you want when you want it. On the other hand, if you’ve drained your daughter’s college fund in order to expand your collection, a discussion on priorities is most likely in order.
Unless you can truly afford it, put down the $300 bottle and think twice before spending $100 on that brisket.
When keeping your hobby under control becomes a full time job, it’s no longer a hobby.
It’s an obsession.
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