5 Expensive Hobbies

AAA

What is your favorite hobby? Do you like building those little ships in the bottle or collecting dolls? Maybe you're a baseball card collector or you like to buy cheap items at garage sales and fix them up for resale? Maybe your hobby seems like it takes a lot of your money, but it's likely cheap compared to some of the most expensive hobbies. Calculating costs can be difficult since it is highly dependent on the person's level of immersion in his or her hobby, but what is for certain is that if you're going to make these your after-work passions, it's going to take some giant-sized funds.

Ballroom Dancing

You may have seen the hit TV series "Dancing with the Stars" which has brought awareness to competitive ballroom dancing, but did you know that a dress alone can cost a few hundred all the way to a few thousand? Add to that competition fees, dance lessons, transportation, lodging, and other associated expenses and you may spend more than $10,000 in just one year. For those who are recreational instead of competitive, the costs are much lower.

Aviation

The cost of obtaining your private pilot's license may be $5,000 or less depending on a variety of factors, but that's just the start of the investment. Purchasing a plane will likely cost $100,000 or more causing most pilots to join a flying club where they rent a plane for a specified period of time. Along with club membership, hourly rental may cost $80 per hour or more. There are many variables that affect the price, but one thing is for certain: flying is expensive.

Sky Diving

Paying $150 to $250 for a single dive may not be expensive, but when you consider that the actual jump is only about one minute, the price is exceedingly high. The best way to drop the price is to become certified, experts say. Certification can cost as little as $1,500 and may drop the per jump price to $20.

Mountain Climbing

Not only is mountain climbing physically dangerous, but it's financially dangerous as well. Climbing Mount Everest will cost between $8,000 and $13,000 depending on the type of camping and climbing gear you choose to purchase. Add to that guide fees, permits, and other associated costs and you have an expensive adventure.

Scuba Diving

The cost of equipment is a modest $500, and certification is another $300 to $500. For those who are serious about their scuba, only the most picturesque, exotic locations will do. If you're able to avoid the $1,500 or more plane ticket to get you to such sites like the Great Barrier Reef, your scuba hobby may not be as budget-busting as it could, but how long will the local lakes be enough?

Conclusion

These hobbies are very expensive, but that hasn't stopped people from taking part in them. Some enthusiasts invest thousands and thousands of dollars into these pastimes.
  1. No results found.
Related Articles
  1. Taxes

    Is Your Small Business Really A Hobby?

    Make sure that your business follows IRS guidelines and stays out of hobby territory in order to make the best use of any losses that occur.
  2. Personal Finance

    5 Expensive Hobbies

    Not every hobby requires you to dig deep into your pockets, but some pursuits are far more expensive than others. Here are five hobbies that can cost a lot.
  3. Managing Wealth

    Essential Tips on Making Your Hobby Your Career

    Here are some ways to turn what you love to do for fun into your job.
  4. Insights

    6 Hobbies That Can Make Or Save You Money

    Some people view hobbies as money sinks, but they don't have to be.
  5. Retirement

    12 Tips for Retiring with Just $50K Net Worth

    One in three Americans haven’t saved anything for retirement, let alone $50K. Here’s a dozen things that you can do to help shore up your finances.
  6. Retirement

    Typical Retirement Expenses

    Travel is one thing people start doing more of when they retire. Here are ways to think about how your spending may change once you're not at work all day.
  7. Retirement

    5 Tips on Trading During Your Retirement Years

    Having fun is key to being happy during retirement. Here are five tips on how to act responsibly for retirees who want to continue their trading hobby.
  8. Retirement

    5 Big-Time Retirement Budget Busters

    Living on a fixed income is easier said than done; even well-prepared retirees are surprised at how challenging it can be. Here are five things to watch.
  9. Retirement

    5 Steps To Embracing A Working Retirement

    If you're thinking about generating a bit of pocket money during your retirement, here are a few tips.
  10. Retirement

    How To Budget Your Retirement Funds And Still Have Fun

    Here are some tips to budget your remaining money when you are retired.
Hot Definitions
  1. Leverage Ratio

    Any ratio used to calculate the financial leverage of a company to get an idea of the company's methods of financing or to ...
  2. Two And Twenty

    A type of compensation structure that hedge fund managers typically employ in which part of compensation is performance based. ...
  3. Market Capitalization

    The total dollar market value of all of a company's outstanding shares. Market capitalization is calculated by multiplying ...
  4. Expense Ratio

    A measure of what it costs an investment company to operate a mutual fund. An expense ratio is determined through an annual ...
  5. Mezzanine Financing

    A hybrid of debt and equity financing that is typically used to finance the expansion of existing companies. Mezzanine financing ...
  6. Long Run

    A period of time in which all factors of production and costs are variable. In the long run, firms are able to adjust all ...
Trading Center