Money

Spending Shakedown – Hobbies & Entertainment

Published on December 1, 2018 2:00 pm, by Jen Bakker

Hobbies and Entertainment is such a broad topic to cover. It means so many different things to so many different people.

We’ve focused on 4 subcategories under Hobbies & Entertainment

• Dues & Subscriptions
• Music, Movies & Books
• Events & Concerts
• Betting & Lottery

If you are interested in the following subcategories:

• Online Services
• Entertainment & Recreation

you will find all the information you need held within the first four categories.

Subcategory Dues & Subscriptions

Service providers are sneaky. The popularity of the direct debit is partly convenience and partly because providers know that people sign up and often forget. So, look and check that all your regular payments are for product or services that you use often enough that the cost is justified. Here’s a bit of insight into what was happening with one of our customers: https://www.moneybrilliant.com.au/blogs/save-money-on-subscriptions-you-dont-use-enough/

Another way to check that you are getting value from your subscriptions is to add how much they cost you and consider what other things you could do with that money over time. Is the product or service you are paying for more valuable than the opportunity cost? Here is an example of what we mean: https://www.moneybrilliant.com.au/blogs/our-guideto-cancelling-pay-tv-and-streaming-services/

Subcategory Music, Movies & Books

Like other categories in Lifestyle, setting yourself a lower budget for a time period or taking a break altogether can add up quickly. If that’s not you, check out our tips for discounted movies.

Discounted tickets:

• For the movies lots of Rewards programs offer discounted tickets, as does the Entertainment Book
• Check out sites like Groupon & Scoopon for your city as they sometimes also offer cheap movie tickets
  Make sure that you check the fine print, and see that you can use the tickets at times convenient to you
• When it comes to books you don’t have to buy it to get pleasure from it. Check in with your local library and you may be able to borrow what you’re after. If it’s something that you really want to buy, we suggest checking out a comparison site, one like Booko (https://booko.com.au/) who tell you where you can get it, how much & include the cost of postage.

If you’re spending lots on Music & looking for tips, the same applies. Set yourself a limit and shop around, whether that’s for CDs or digital albums. If you’re after a subscription service consider sharing a family plan, as that can often work out the cheapest.

Events & Concerts

For lots of people Events and Concerts are once in a while activities. If you regularly attend, you’re probably spending a fair bit. By taking a break, you’ll save some money a bit faster.

This is another category where it’s great to check out the discounted websites for your city. When it comes to long running shows if you can wait until near the end of a show’s run you will often find tickets are less than half the original cost.

When it comes to Music and other short run concerts it’s not so easy. So maybe it’s all about being honest about whether it’s worth the cost. What goal will you not meet or take longer to meet by attending? Of course, there are always the cheap seats if you just want to soak up the sound and the atmosphere…and sometimes that’s enough.

Subcategory Betting & Lottery

This is a tricky one, as finding discounts in this category isn’t really done. If you want to reduce your spending in this category, we suggest imposing a limit on yourself or taking a break completely.

How much do you spend on betting and lottery? And what else could you do with the money?

If you are finding it hard to stop, please let us know and we’ll point you towards some resources, including the scary stats about how much Aussies lose betting each year!