I have always called myself a hobby collector. I really love the challenge of learning something new and especially if it's creative. So I crochet, kinda know how to knit, but I stink at that. I LOVE to paint... flowers mostly, but other abstract stuff too and I art journal when I find the time.
I've also done cross stitching, stained glass and TONS of jewelry making in the past, but those are less now.
I definitely like a change of pace, so currently I'm into a CAL (crochet-a-long) so I'm addicted to working on that project right now and my painting has suffered because of it.
BUT Digiscrapping is the one hobby that I have kept for the longest. I started in 2006 and love it just as much today as when I started.

I think because I can keep creating and it doesn't make a big mess!
As for balancing it all... I just work on what I feel most inspired by and I don't stress about putting one hobby aside for a bit. If I force it, I don't feel inspired and it becomes a chore... so work on whatever inspires you! That's my advice!