Pandemic hobbies hurting 53% of American wallets

CW39

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HOUSTON (CW39) 59% of Americans took on a new hobby during the pandemic, according to a new report from LendingTree.

The group most likely to try out a new pastime include those laid off or furloughed (82%), Gen Z (76%) and millennials (74%). Unfortunately, more than half of those who did wound up taking on credit card debt as a result.

Many of the respondents say they incurred debt because they wanted to invest in special equipment to eventually make money from their hobby. There is some good news, Nearly half (48%) of respondents who tried out a new hobby during the pandemic said they’ve made at least a little bit of money from it by turning their new passion into a side hustle

Millennials and Gen X were the most likely to say they’d made money from their new hobby, as were the highest-income Americans. Those who did make money say they put those earnings to practical use by either paying off debt or saving it.

The most popular hobby among those who started one during the pandemic is reading (61%),  followed by baking or cooking (36%), gardening (30%), meditation (29%) and writing (26%).

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