Published at Wednesday, February 27th, 2019 - 11:33:36 AM. Cycling. By Elaine Renault.
The best part about picking up a new hobby is telling everyone you’ve done so, becoming incredibly invested in it (both financially and emotionally), and then giving up three weeks later to the immense relief of your partner and mates, who have already grown tired of you dropping freshly learnt terminology from said hobby into conversation. Then the second-best part is listing all of the gear you bought online for half the price you paid last month.
Collectors spend the most money on their hobbies (£3,328), but cyclists are most serious about having the latest fashionable gear with over half (51 per cent) admitting it was important that they had the most up-to-date technology or equipment. On average, millennials have spent £2,533 on their hobbies so far, while retirees have spent £2,092. Over two-thirds (37 per cent) of millennials surveyed said they were likely to upgrade their kit, equipment and invest in the latest technology every year, versus just 15 per cent of 45 – 54s or seven per cent of retirees (65+). 14 per cent of millennials estimate they have spent more than £5,000 on their hobby equipment during their lifetime so far.
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