Extravagant Passions: 10 PRICEY Hobbies That Enrich Life While Draining Your WALLET

By Krystal Brown

Embarking on a pursuit of passion can infuse life with meaning and fulfillment, but beware these 10 opulent hobbies that promise enrichment while stealthily emptying your pockets.

Golfing 

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Golfing is such an enjoyable experience that will make life richer through quality networking, exercise, and outdoor enjoyment. This hobby is equipment dependent, coupled with the fact that you need to bear the cost of playing at a standardized course as well as the membership fees required to join the country and golf club in your locale. 

For instance, a complete set of gold clubs costs around $357 to $1000, while a golf club membership registration in the United state costs $1000 to $4900 annually, depending on your location. These expenses also come with an exorbitant initiation fee and annual dues, which might vary in price based on your chosen golf club.

Mountain Biking 

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There is general knowledge regarding the countless benefits of mountain biking, such as enhanced cardiovascular health, improved lungs and blood circulation, and social benefits like making new friends and connecting with nature. Despite the many benefits that mountain biking offers, it is sure to make life richer but drains your wallet due to the exorbitant price of high-quality mountain bikes that cost between $500-$5000 depending on the components and their adaptability to the rigor of the off-road adventures. Some other underlying costs are required to have a memorable biking experience, including the cost of gear such as helmets, gloves, jerseys, etc. You should also factor in the monthly cost of bike maintenance, such as tire replacement, tune-up, and brake fixing.

Car Racing 

driving car
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Racing is an exhilarating and gratifying hobby requiring high-end equipment like racing cars, suits, and helmets. The most expensive aspect of car racing is the car itself, a special type designed to be lightweight and powerful, costing hundreds of thousands of dollars to millions. Not to mention the monthly expenses of regular maintenance, you need to cough out a few thousand dollars because of the high-performance nature of the car. Lastly, there is the local motor club membership registration fee to secure entry to a racing track and get a license if you are going for national-level championships. 

Car racing will surely give you a sense of accomplishment and keep you in shape because car racing is a highly demanding game that sharpens your focus. All these will surely make life richer for you, but they come at the cost of draining your pockets. 

Traveling 

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No other hobbies let you disconnect and recharge while ensuring you are laser-focused and expose you to new things at the same time other than traveling. Traveling is a superstar hobby and a worthwhile investment of your money that will make your life richer and help you become a well-rounded person. There is no gain in saying that traveling is an expensive hobby starting from the cost of transportation, accommodation, food, and other activities. Traveling to luxury resorts and remote reserve areas can be costly, depending on your destination. Therefore, getting the estimated cost of all your needs is essential.

Horseback Riding 

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Besides being a well-known hobby, horseback riding is a fun and exciting way to spend your time. Riding a horse will boost physical health, improve social interaction, and boost confidence. But this can be an expensive hobby that requires purchasing a horse, paddock, saddle, gear, and other equipment. The average cost of a horse ranges between $1500-$70,000 or more depending on the breeds you are buying and the level of training it already has. There is a need for provision for monthly feeding bills, horse care, and lessons that cost around $50 to $100 per hour. The total cost of all these can accumulate to thousands of dollars annually, which will drain your wallet in exchange for making your life richer.

Art Collection 

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Art is a source of inspiration and beauty that’s common to wealthy families and distinguished individuals in society. This is one of the world’s oldest and most famous hobbies that people are ready to spend a fortune to acquire either for profit or just to keep them in their domain. A high quality and original paintings, sculptures, and other art can be pricey, even though it was estimated that the most expensive art auction went for a whopping $1.6 billion. Art collection is a worthwhile and satisfying hobby that serves as another way to learn about many histories and cultures, lift your mood, and stimulate your creativity when you beautify your home with your chosen art. But this comes at a cost that will surely eat deep into your wallet.

Skydiving 

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Skydiving is common among thrill seekers who are fixated on the electric experience and rush of adrenaline that can never be achieved in other activities. It is essential to factor in the cost of skydiving, which varies based on location. For instance, Scenic sky diving costs $159. At the same time, you still need to purchase your skydiving license, which can go for $3,000 to $4,000, and also enroll for recurrent training according to USPA guidelines before you can be certified to skydive. 

Additionally, you are mandated to register for insurance that covers any form of injury while skydiving. Skydiving is a scintillating hobby that can help you overcome your fear and give you an exciting life experience at the expense of your wallet.

Hunting 

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Hunting is another popular and expensive hobby requiring a sizable investment in equipment such as guns, ammunition, and personal hunting gear. In addition, you need to purchase a hunting permit that costs around $2,500 if you are hunting outside your state of residence. Lastly, there is also the need to make provision for the cost of traveling, food, and lodging if you are hunting long distance away from home.

The cost outlay of hunting is enough to categorize it as an expensive hobby that makes life richer through the sense of excitement and a close connection to the wildlife but drains the wallet.

Yachting 

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Yachting is an all-time favorite hobby for the wealthy that provides a sense of adventure and creates a close relationship with family and friends. Yachting requires a high level of financial commitment, such as the exorbitant price of the yacht itself, which can range between $500,000 to $60 million; yacht maintenance, dockage, mooring, insurance, and also fuel and supplies that are essential to enjoy the sense of freedom that comes with this highly classical hobby. Another option is renting a luxury yacht for $5,000 per day if you can not afford to buy one outright. 

Irrespective of the option you exercise to enjoy your sailing, yachting is an expensive hobby requiring a deep pocket.

Mountain Climbing 

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Regardless of your class and financial status, mountain climbing is what everyone can do as a form of exercise and other purpose. But there are some exceptions if you aim to reach the top of some famous mountains. For example, to hike Mount Everest, you must purchase a climber license that costs between $$40,000 to $60,000, depending on the side you are climbing from. You also need to make provisions for your specialized equipment, guide fees, food, etc. 

Even if you are going on a low-budget hiking expedition, you should budget nothing less than $25,000 for a seamless hiking experience. Mountain climbing brings a feeling of accomplishment, serenity and tranquility, among other benefits.

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