5. Expensive Hobbies
Having hobbies you have done since childhood is one thing but many people today have been ‘persuaded’, let’s say, by various marketing channels to take on expensive hobbies.
This is a dream for those Shopify companies who want to sell products and then upsell accessories and all sorts of expensive items (possible side hustle idea!) but it is also the road to financial ruin for the individual consumer.
Whether it is skiing, holidays, or even gym equipment, big media, and advertising companies, are geared towards separating you from your hard-earned cash. They spend all day coming up with strategies to get you to buy their products that you probably won’t use over the long term.
They use psychological tactics like FOMO and target you with hundreds of ads that try to tempt you. By keeping on top of your finances and paying yourself first, you can control your indulgences in these hobbies.
Or you can just take up running as a hobby.