Is chess a cheap hobby?

Could you elaborate on why some people might consider chess to be a cost-effective hobby? Are there any initial investments required, and if so, how do they compare to other hobbies in terms of financial impact? Additionally, are there any ongoing costs associated with playing chess, and if so, how do they factor into the overall affordability of this activity? Finally, are there any ways in which chess can actually save money or provide financial benefits in the long run?