Is there a hobby you love, but spend too much money on? I think it’s fair to say we all have something that makes us so happy we’re willing to spend a little more than we normally would. However, some activities are so far out of our price range that they’re a rare happening, or just wishful thinking that we can try them one day. I’d love to dive in The Great Barrier Reef, but until then, I’ll stick to the swimming pool at the local YMCA.
1. Wine Collecting
Wine lovers have been known to drop a small fortune on a rare bottle of wine. I think sometimes they’d rather say they have a special edition Bordeaux in their cellar than pop it open and drink it. Bottles can range from $100 up to tens of thousands of dollars, not to mention the cost of building a wine cellar and trips to wineries worldwide. Luckily, I have an unrefined palate, and a $10 bottle is just fine by me.
2. Golf
Golfing can be a great way to spend a weekend afternoon outdoors, but it can also empty your wallet in a hurry. An avid golfer will tell you how fast equipment, clothing, and course fees can add up. Add the cost of lessons so you can beat your buddies and buy new clubs every year; and this hobby can set you back quite a bit.
3. Skiing
Unless you live in a mountain town or near a ski resort, this is an expensive hobby. Add equipment, clothing, gas, lift tickets, and room fees, and you have a pricey weekend on the slopes. A family of four can easily spend over $5,000 during a short stay. The fancy resorts are going to cost even more than that.
4. Poker
An evening playing poker with your friends can be a fun way to make some money and socialize. Still, avid players are looking to win big money at the casinos. To win big, you have to bet big, and some tournaments can cost several thousands of dollars to enter. Some of the most famous games have an entry fee of $1 million.
5. Horse Racing
Hanging out with your buddies at the race track and throwing down a few cheap bets is fun for an afternoon, but getting into the horse racing business requires deep pockets. Horse owners spend up to six figures in training, housing, grooming, and feeding these finely tuned racehorses. While cheering on your own pony might be fun, it’s an expensive hobby only a few can afford.
6. Polo
Another pretentious sport that involves horses is polo. I didn’t think anyone but British royalty played this sport, but apparently, they still do. Polo clubs are still open throughout the United States and can cost several thousand dollars to join. It also helps if you have a horse. A trained polo pony can cost up to $250,000.
7. Mountain Climbing
Are you a thrill seeker looking to test your limits on some of the highest peaks in the world, like Mount Everest or Mount Kilimanjaro? If so, be prepared to shell out a small fortune in equipment and license fees. Peaks like Mount Everest require paying for oxygen, food, base camp fees, and guide services. A one-time excursion can easily cost as much as $25,000. It’s a hefty price to pay to go to a part of the world where few have been.
8. Hot Air Ballooning
A trip in a hot air balloon can be a visual experience unlike anything else. Floating above the clouds can offer rare views 2,000 feet in the sky. That being said, it’s not a cheap hobby. A balloon can cost over $25,000, with flight classes in the $3,000 range. After maintenance and storage fees, this fun hobby could leave you bankrupt.
9. Skydiving
You can take a one-time skydiving ride for about $200, but what happens when the adrenaline gets you addicted? If you want to become an avid skydiver, you’ll need a credit card with a high limit because gear is expensive. Skydiving equipment is not the type of gear you want to go cheap on. The average cost of a pack can range up to $9,000, plus the cost for the plane to fly you up to the sky.
10. Scuba Diving
Scuba diving is relatively cheap and it’s easy to become certified. You can also rent equipment at dive sites. Where it becomes expensive is traveling to the dive sites. Some of the most famous diving waters in the world are in remote locations. This means pricey airline tickets and hotel stays. You spent all the time becoming certified and want to explore some of the most beautiful waters. Just be prepared to spend the money to get to that water.
11. Art Collecting
If you want to talk about a hobby reserved for the rich, collecting art might be number one as far as the most expensive. Some of the most famous artists have had paintings sold for millions of dollars. Your net worth will need to push $1 billion if you want to get your hands on some of the rarest pieces in the world.
12. Flying Planes
Many people have dreamed of learning how to fly a plane. They also may fail to accomplish this dream due to the cost of flying lessons. Flight classes and certificates can cost over $10,000, not to mention buying or renting the plane. Smaller aircraft can cost six figures and also require regular maintenance and storage fees. Personally, I’d rather fly first class and enjoy a free beer or two.
13. Big Game Hunting
Hunting for big game requires more planning than a typical hunting trip. Hunters looking for the thrill of big game hunting might have to spend as much as $70,000 on fees and travel. Whether or not you agree with the act, it’s big business, and people are willing to pay the price for this expensive hunt.
14. Classic Car Collecting
Car lovers worldwide dream of having a giant garage full of rare and vintage automobiles. Unfortunately, only the super-rich can afford them. Depending on the type of car, they can range upwards of over $1 million. If you have the dough, it’s a fun way to spend it. I’d be too paranoid about something happening to one of the vehicles, though.
15. Yachting
Can you imagine being rich enough to say that a hobby of yours is yachting? Yes, for fun, I put my million-dollar paintings in my $20 million yacht and sail to the Maldives, where I play a riveting polo match with the governor. Afterwards we share a bottle of 2000 Chateau Lafite and discuss our next vacation. I wish there was a hobby that involved donating money to starving writers these billionaires could get into. Let’s make that a top priority in 2024.
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