What Should Hobbies and Managing Your Money Have in Common?

Most of us have embraced one hobby or another at some point in our lives. Whether it be fishing, yoga, knitting, gardening, or working on a house. Our hobbies become an extension of who we are. We build a relationship with our hobbies. Friends may even tease “he spends more time with his fishing rods than with his friends.”

Whatever your passion may be, there was a point in your life that you knew nothing about it. Fishing is a great example, because even if you learned at a very young age, someone taught you and you continue learning. To become a master at fishing, you build a relationship with your new found hobby. Of course, you don’t think about it as building a relationship; you’re just doing it because it’s fun. You enjoy it.

But think about the things you do as you learn a new hobby:

• Talk to others about how and where to fish,
• Go to sporting goods stores to learn about equipment,
• Ask for help from someone more experienced,
• Read books, magazines and blogs about fishing,
• Watch fishing shows,
• Take a class,
• Spend money on the right gear,
• Invite your friends to fish with you,
• Set aside a lot of free time to enjoy fishing.

As you learn more about your sport, you become more confident, you enjoy it more, and you then become a mentor to others. For those that become the most passionate about fishing, it inspires them in other areas of their lives: they finish their chores during the week so they have time to fish on the weekend; they rearrange their spending so they can buy more equipment; they earn more money or more vacation time so they can fish in far off destinations; they focus their life around their passion.

Now, what if you managed your money as if it was the hobby you’re most passionate about? It’s a bit of a stretch, but stay with me.

• Who can you talk to about money?
• Who can you learn from?
• What can you read or watch to get learn about managing your money?
• What if you took a course?
• What equipment do you need to buy to manage your money better?
• What if you got together with a group of friends to talk about money?

You can have fun managing your finances, it’s all a matter of how you go about it. You can sit alone in front of the computer, hating the fact that managing your money is a part of life, and wonder why your numbers aren’t doing what you want them to. Or you can learn more, get the tools you need, grab a bottle of wine, sit down with a friend and talk about what’s working, what isn’t and get some ideas about how to make your numbers better.  

- Stacey Powell

Finance Gym offers personal finance coaching in professionally facilitated peer-advisory groups. 

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