Money Saving Tip #2 - Stick to one or two hobbies at a time

One money mistake that I've made throughout my life is picking up a new hobby without fully exploring its potential and quickly moving on to a new one. For instance, throughout my life I've picked up piano, guitar, drums, violin, ukulele, DJ-ing, electronic music making, card games, tae-kwan-do, magic, the list goes on and on.

However, I've never really developed my full potential on any of these things, and I'm filled with regret about it. Lately I've realized it's best to actually stick with one instrument or one hobby or one whatever and to grow with that particular hobby than to be a "jack of all trades". I'm not saying that you shouldn't explore all the things that interest you, but if it means abandoning your efforts in another area that you previously enjoyed for no good reason, I feel like you should stick with the original thing.

Lately my three hobbies are writing, exercising with the P90X program, and guitar. To be perfectly honest, I've only been on a strict schedule doing all three for the past three days, but so far I've been feeling great about it.

My advice to you is to try and stick with one or two hobbies instead of branching off into a million. Not only will you get more fulfillment out of what you are doing, but you won't have to spend money on a DJ-Set that you'll never use or that set of golf clubs that just sit in the corner collecting dust.

My personal tip is to wait three-four weeks to see if you still want to buy that new instrument or that sparkling new tennis gear, and notice how often you don't actually want to do those things. I want to reiterate that I'm not saying you shouldn't explore your options, I just don't want anybody to make the mistake of abandoning previous projects just to take on new expensive ones.