Tip # 47 Trial a hobby before going full force ahead
There are a lot of hobbies that are great, but also can be really expensive. Make sure you do your research and talk to different people before you decide you want to go "all in" for your new project. Maybe just buy a pair of knitting needles and ONE spool of yarn or talk to some friends who homebrew before going out and buying all of the necessary supplies.
Or maybe just really consider the time commitment before starting something up (say, a frugal blog!)