This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ask The Readers: What Is Your Hobby Worth To You?

Our friends' weeks and weekends are crammed full of various pursuits - soccer, baseball, gardening, scrapbooking, calligraphy, swimming, dressage, sailing … the list goes on and on. And let's face it: No matter what the hobby is, it's going to involve the wallet.

There is a price of entry for virtually every hobby, beyond which the sky is the limit. And after watching the Olympians compete this summer, I started thinking about just how far you can take these pursuits and how much it costs to go there. How do you decide if you're spending too much?

The intangibles

All in all, the pursuit of a hobby, sport, or interest can be rewarding on so many levels that it seems pointless to weigh the cost against the benefits. The mastery of any skill produces confidence, tenacity, and appreciation. Team-building adds social awareness, cooperation, and respect. Pursuing a sport usually leads to better health, and, for a lucky few, a gold medal.

The hidden costs

But it's easy for a hobby to spin out of control before you even realize it. For instance, were many of the Olympians' parents aware when they enrolled their sons and daughters in lessons that they could soon be paying $15,000 a year on average for camp, competitions, airfare, and training?

My friend Katrina loves horseback riding. She expects to pay $1,000 for a horse - at least. But then she has to house and feed it, to the tune of $350 a month. She regularly shells out $200 for various unexpected expenses too, and that's over and above tack and trailer. And to top it all off, when she became interested in entering her prize stallion in a horse show, she found that competing added another $1,500 annually per horse.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs