What is your "Money pit"?

If you have one that is?

In this thread I suppose I’ll define a money pit as an activity that has no chance of returning on financial investment. In all senses it’s something of a ludicrous pursuit…but something we do because it makes us happy / scratches some itch or desire.

Social dance and travelling and competing is the one for me. I started it because it got me out and meeting people when I was depressed, and I got so hooked that I now travel to workshops and even compete. Fun fun adventures it is though…but pretty expensive. I spend at least $5000 a year on lessons and trips. Next year I may be downscaling my investment in it. I certainly doubt I’ll ever make any money with this…but it has helped my confidence and sense of well-being.

Even music isn’t a money pit like dance…I spent alot over the years on music investment…but I teach lessons so at least it pays for itself. Now music income pays for my dance addiction…help?

Your turn.

a Sailboat. Enough said. The cost per time using is too terrible to calculate. However, we love it.

My Wife :smiley:

Well, my Wifes IronMan races. Her last bike was >$6000. But she/we enjoy it and we travel to some places that we would likely not visit otherwise.

Woodworking. Hardwoods are very expensive, as are good tools. Unless you’re really good at it, there’s no market. A neighbor woman asked me if I could make her a cutting board to give as a wedding present, but she only wanted to spend $35. Well sure, what thickness of plywood would you like me to use, and what color spray paint?

Most hobbies will fall into the category of ‘money pit’.

My cars. I keep and maintain my cars as close to original factory condition as possible. Right now I’m hanging on to a 16 year old car (I’m the original owner) that has developed some minor rust issues which I’m going to have addressed by a body shop. It run’s perfectly otherwise but who knows what the next issue will be… original clutch, original exhaust, original A/C compressor, etc… any one might go at any moment from sheer exhaustion. But I love driving it as my daily commuter so I continue to sink money in to repair it and keep it running. I say I do it to pass on to my son, but really, I just want to keep running for me and because my other car is quite a bit more special and I want to keep it in pristine condition as my weekend driver.

I used to have a sailboat as well. The cost of maintenance and the lack of opportunity to sail it became too much. Fortunately, I discovered the pleasure and economic sense of chartering.

“Most of my money went to wine, women, & song. The rest I wasted.”

Seems to me the money pit was “the rest”.

That was my wife’s for a time. She’d do belly dancing and each troupe had dreams of performing for money and making it “big” (as big as you get in the belly dance circuit I guess). A lot of money in costumes and accessories and classes and performing and workshops… all the troupes would break up and reform with mixed members from other broken troupes. No professional dancers made. To be fair, my wife always looked at it as social activity and exercise and wasn’t personally planning to make a living but that was the focus of each troupe.

Nothing much here. I don’t know if I count a pure hobby as “money pit” since there’s no expectation to return a profit on tinkering with my computer or similar tasks.

One very cute two year old. It turns out day care is more or less the same cost as college tuition.

I have my pontoon boat, my gf has her horses.

Dogs. I can’t help but keep buying them food, toys, treats, heartworm & flea protection, beds, daycare, boarding and vaccinations. They are so cute, tho!

I don’t have a real money pit, since my “extra” money goes into $400-$600 a month in medical expenses.

I’d love a horse or to take sailing lessons, but I gotta breathe and not be in pain.

I do have little fuzzy feline overlords who get lots of good catnip, so I suppose them. And books. :slight_smile:

Koi pond. Though I’m doing it on the cheap so it’s more of a labor pit. For example, I dug the entire thing by hand, which I estimate took about 120 hours (3 hrs x 3 days/week x 3 months give or take - I saw this as a replacement for a gym membership, by the way, not just a way to save $800 on equipment rental).

I’m about $6,000 into the pond so far and all I have in there are goldfish*, the filtration system is incomplete and I haven’t done any of the decorative tile or rock work on the waterfall. Had I contracted this project out, it would be in the $30,000 range.

*Which is unfairly dismissive of the goldfish. They’re wonderful and I suspect I’ll keep some even after the filtration system is ready for bigger koi.

I’m almost done with the Jeep. I swear to god. Just one or two more mods and she’ll be perfect. Or three.

Needlepoint. I can easily spend $50 on a nice piece of fabric, another $20 on the pattern, another $30+ on the thread, and MANY hours sewing just to give it away. If I keep it, framing them runs minimum $75 (if I do it myself).
A lady at work commissioned me to do a baby sampler for her, offered a whopping $25. The fabric alone would’ve been $20, the particular floss was $4/each… I passed.

I have three cars. Two are for fun ($$$$$) and one is my daily driver, and I am always adding performance parts or regular care to keep them humming.

My old money pits were performance boats.

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Here in King County, (Washington State), my money pit is real estate taxes. About 10% of my total income goes to that, for a house I’ve lived in for over 50 years.

Fast food, and happy hour. In all seriousness, I don’t do that much but the money is still gone.

+1

The house. It’s everything we’ve ever wanted out of a house (by which I include the land and outbuildings) … once we’ve done a few major renovation projects.

This summer we’re taking it easy with new roofs and a heat pump. Later we’re converting the back of the workshop into an apartment, redoing the kitchen, and adding a bathroom to create a master suite. Oh, and windows. Lots and lots of new windows.

I’m calling this a money pit and not an investment because the inherent value in our property is the land itself. Sometime down the line real estate developers are going to be offering us money with the intention of tearing all the buildings down.

1 child in out-of-state University?

And Vacations.