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
If you are interested in the following subcategories:
you will find all the information you need held within the first four categories.
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/
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.
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.
Betting & Lottery
Our advice in this category is blunt! Stop! If you find you’re running short in meeting your bills and you gamble at all, we think you should stop. The chances of winning are infinitesimally small. So small that you’d be better off saving the money you spend on Betting & Lottery and investing it in a high-interest savings account.
But if you do gamble you’re not alone. We know that more than 600,000 Australians play the pokies weekly. Some people play purely for entertainment while others spend more money than they can afford.
If you’re playing for entertainment, and you wish to spend less, set yourself a budget and once you’ve spent that money, you should find it fairly easy to stop. Here are some hints to help you stick to your limit –
If you have difficulty stopping when you’re gambling, there are some practical things you can do to help you stop –
If you believe you have a problem with gambling and would like some extra help, we have listed some helpful places to start below. Remember, it’s okay to ask for help.
Through the online gambling hotline, you will be able to access counsellors available via chat and email. Helpful resources are available to understand your gambling and reduce or stop it completely.
Gambling Help – where to go to get help over the phone or Face to Face
Jen is an experienced banking professional who loves wine, coffee, finding a bargain and of course her three beautiful children. Since Jen's first budget led her to buy a home at 20, Jen has passionately helped others to make better decisions with their money.