I already ruined one hobby (art) by making it my job. So I’ve just been funding one hobby with the other for the past 18 years. 
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Damn this topic got me thinking! I should sell all the things that only cost money asap:
- My car (bills are always more expensive then you think upfront)
- My bicycles (I never get paid to ride on them)
- My xbox (I suck at gaming anyway)
- My house (most expensive hobby I have)
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Wait a sec… you can get paid for doing this??!
It’s funny reading the replies to this… I have a tendency to think my position is the average position and people generally think similarly.
I appreciate a lot of people here are hobbyists, and that’s fine, I get that viewing cash outlay on a hobby isn’t about any kind of return (I also have a load of bikes, watches, cameras, golf gear, etc, that I expect 0 return on).
Where I am, I have a ‘can I justify this?’ spending mentality… and the original question was from that viewpoint. The answer is usually ‘no’ realistically… well, definitely has been over the last 3 years.
I also like the DJ mentions… that return wasn’t lost on me, I bought a secondhand DJ controller for £500 18 months ago and have made way more than that back on it now. Kinda wish I’d have got onto that a lot earlier! 
Pete Waterman of famous 80s production team ‘Stock, Aitken & Waterman’ did it reverse. He plouged a huge amount of the profits from their awful synth pop into his O gauge model railway.
Another reason to hate him is that he gave Simon Cowell his first hit in the music biz.
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When I was playing vinyl I spent way more on records than I ever got paid but I just loved music and buying it. When I worked in a record store most of my wages went on vinyl. It was a hobby and passion I was lucky enough to get some money for. I’ve never seen it as work or as a job and turned down any gigs that felt like that.
I only really made any money when I moved to digital and stopped buying vinyl. I still only take gigs where I can play what I want and turn gigs down that feels like work that I mightn’t enjoy. It’s still just a hobby and passion I sometimes get money for and I’d do it for free if it’s a gig I’d love and they aren’t making much money.
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pretty sure I’m going to be next year’s “Fred Again…” despite my fat fingers, tin ear and advancing years, so I am going to hold off answering this until I can do so from business class to LA.
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I need to add i would do it all over again. Never regretted spending money on the things i like most, in my case fiddling with sound. Always had some drive to make a living out of music. Now i own most gear i dreamt about as a teenager i hardly produce anything finished. I was more productive with propellorheads Rebirth than with 20k worth of gear nowadays but i can enjoy the walk in my studio just looking around. It’s the most satisfying hobby there is.
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It’s a vicious circle! 
I’m genuinely envious of anyone who gets this from making music.
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That way the trains don’t fall off the table.
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spending more than making, is pretty much the definition of hobby/amateur - no?
so its fine… just like any other hobby, its for the enjoyment.
that said, in last few years, actually, Im close to even.but thats not by making any music 
(which’ll never pay for me), but rather, due to activities around my software development for music tech.
this has helped me, I obviously enjoy this (alternative) creative side too, its a lot of fun.
and honestly, it has help some of the guilt about using using this (lets face it) expensive gear for just the pure enjoyment of making music, with no goal, or sense that I have to produce something.
also, its kept a check on gas… as the deeper/more investment (time) you put into a particular piece of gear… the less you look elsewhere.
however, does raise the other side, if you look at this from ‘profit making’.
whilst I may have covered gear costs… it doesn’t factor in the time and energy I put into this stuff 
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For fun and for a better sound…
i dont care about money…
artists who earn something mostly gave up and let the manager do the work…
and he earns most of the money… same with spotify and co…
i got gear… i use it when i want to… i dont care about being a pro or a hobby guy in the internet…
music is about love and life not about money…
and nowadays … everybody buys streams and clicks everywhere to get attention…
i am happy without attention! 
best,
OX
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for real, once you start digging deep into a certain discipline the depth is absurd, every one has it’s own helmet, shoes, grips, bars, pedals, saddles (pro saddle prices are beyond insanity). and power meters. and garmins. and di2. and etc. etc. etc.
and don’t get me started on carbon frames and suspensions, cars cost less then a carbon frame that will snap on the first road pothole and you can’t repair it.
and the people who chase weight reductions - holyshit, carbon bottle holders, carbon this carbon that, like dude, unless you’re riding Paris-Roubaix and being sponsored or doing the Tour Divide - you don’t need that shit, chill and ride your damn steel bike.
yeah bikes as a hobby is blackhole of money.
I used to have metal flask mount on my surly and I remember roadies audibly gasping when they were doing their intervals and I was drinking whiskey, fun times…
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My daughters were quite good at music while growing up, and at one point I looked at a few books offering advice for those interested in professional careers. The main takeaway was this: if you can’t imagine yourself doing anything else, then become a professional musician. If you can imagine yourself doing something else, then keep music in your life, but do something else for a living.
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Another bit of carbon that is hilariously unnecessary, but makes a point to the team:
https://www.westmarine.com/thetford-tecma-x-light-carbon-fiber-toilet-10286425.html
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We just like buying things. Can easily make music with minimal gear. Can have a paid income and rarely buy new stuff.
But when something is a hobby we collect and spend more. Even though I work with audio I rarely buy stuff to use in work, it’s all for having fun and creativity in my hobby.
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And the list is endless: Sportglasses, gloves, clothing (winter, summer), chainlube, tubeless latex, break fluid, cleaning materials, tubes, tape, chains, cables, casettes, chain rings, transport bags, carriers. Did I mention tools yet? 
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Music is a hobby so I never plan to make any money from it. It keeps me sane though so it has immeasurable value - but no price.