I build custom cars as my hobby, so I'm the last one to ask :) I dump stupid $$ into my cars because that's my vice..... don't travel much, don't buy nice clothes or eat out a lot...for me that my one "stupid decision" with $$...everything else I'm pretty good with...About a year ago I bought I used 2016 Challenger Hellcat for 55k.....20k under the original price...had 830 mi on it....and I paid cash....was that a stupid financial decision....yes....but oh boy is that car FUN :) and its was a "treat" for myself.... life is too short to make every decision in life about $$... you cant take it with you.My daily drivers are different....buy low mileage used majority of time....majority of time with cash, but if I can get a really cheap rate I'll finance it for awhile, use my cash to make other $$ and pay it off quickly....but did buy my wife a new 2013 Eqiunox because that's what she wanted and "happy wife, happy life" Is no jokeBottom line.....vehicles are horrible investments...so just make sure you make the decision based on the right reason

I'm a Rich CALPERS Millionaire Retiree. but I own a 39 unit apartment complex "hobby" which I spend about 2 hours per week keeping track of.

That is the common opinion of a novice or hobby investors. 

Find hobbies that are free or low cost, and ENJOY your life, no matter your income!

Disposable income is very alluring, you can get new clothes, get a new phone, buy stuff for your hobbies.

I personally have seen that having an LLC definitely drives home the fact that his is a business, not a hobby.

@Ola Dantis  Awesome to hear reading is a big hobby of yours - it's starting to become one of mine too lol.I am adding that book to my list - it sounds like a powerful read that will offer great perspective!!

I think of rentals as a BUSINESS not a hobby.

Lol he invests in real estate like a hobby. 

I won't put a deadline on when I'd get to that point right now because the information just isn't there yet.Am I treating my rentals as a business by doing this, or a charity/hobby?