Here’s something to keep in mind next time you’re thinking about how much the latest music gadget costs: A lifetime of music will set the average person back $37,000. (And that’s the average cost - music freaks will spend even more!)

Research by Prudential in the UK shows that people spend a massive $37,000 (UK £21,000) on music and music gear, making it a very expensive hobby. Prudential’s figure includes everything from CDs, vinyl, and MP3 downloads, to the equipment it is played on (including CD players, speakers and ipods), plus music magazines, gigs, festivals and events.

“Most people would describe themselves as a music fan of some sort or another, but what is really amazing is just how much money people find themselves spending on it,” Prudential’s Roger Ramsden said.

“I wonder if people take this into account when they plan their finances. My suspicion is that they don’t because it is not seen as one of the big set-costs like a mortgage or bills or food. However, we can see that people spend a significant amount of money on it.”

Source: Easier Financial News