A new study from Lending Tree shows how many of us found a new hobby to pass the time over the past year of isolation. Overall, 59% of Americans took on a new pastime. Most of all, it was those workers who were laid off/furloughed (82%), Gen Z (76%), and millennials (74%) who took on a new hobby or skill. As far as the hobbies go, here’s what people did most with their extra time:
· Reading (61%)
· Cooking/Baking (36%)
· Gardening (30%)
· Meditation (29%)
· Writing (26%)
Some found a way to take a new hobby and turn it into a moneymaker (with skills like coding or turning photography into a side hustle). On the other hand, there were 53% who ended up increasing their credit card debt…as a direct result of whatever their new hobby was. Using the excuse of “you have to spend money to make money,” that new hobby debt ranged from less than $250 for 17% of the respondents, to more than $1,000 for 24% of them…with everyone else somewhere in between.
It’s probably not a total loss, however, as 79% say they plan to continue on with their new hobby long after the coronavirus era is history.