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I’ve been replying to a lot of Public Relations (PR) requests on (HARO) Help A Reporter Out for my shop, Affordable Coin Shop.  I want to open the dialog and hear what others think. Please feel free to comment, reply and post your own responses. Hank Coleman AOL Daily Finance.

I’m writing an article about hobbies and how much they cost us. We know what the maximum percentage of our income that we should spend on housing, we have ratios and rules of thumbs for retirement, housing, etc. But are there any rules of thumb for spending on hobbies? How can you really know where to set your spending limits? How can I keep from letting my hobbies take over my finances?

It’s hard to answer your questions with a few sentences, but I’ll try. Working for a coin shop I have to say sometimes the hobby does cost people too much. There are coins as cheap as a few cents on up to thousands even millions of dollars.  Due to jumping head over heals into a hobby can be dangerous if you don’t know what you’re getting into. I’ve seen people spend hundreds – thousands on fake coins. As a wife to an Airplane modeler, I’ve heard stories of husbands hiding wings behind the couch out of fear of what the wife will think. In all honesty, an irresponsible hobbyist will always be irresponsible. As the saying goes, a fool and his money will soon be departed. As for myself I have many hobbies but what I try to do is set a limit for what I can afford or save up for those more expensive items.

As a wife to an Airplane modeler, I’ve heard stories while hanging out at Bob’s Hobby Center at Steve’s Hangar of husbands hiding wings behind the couch out of fear of what the wife will think. In all honesty, an irresponsible hobbyist will always be irresponsible. As the saying goes, a fool and his money will soon be departed. As for myself I have many hobbies but what I try to do is set a limit for what I can afford or save up for those more expensive items. If you have a budget of $50 a month towards your hobby see if your favorite hobby store has layaway.

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