Is it cheaper to get an iPad over getting basic art materials in the long run?

So basically I am starting out art as a hobby, and im now choosing between digital or traditional art. I know getting basic art materials such as pencils and papers is much cheaper up front than an iPad.

I like to pursue my hobbies when its within reach when im killing time, so I think drawing would be a nice hobby to develop, and the iPad would alot more portable than an art station, and also, my phone is a decade old now, (iPhone 7 plus) and I think it would be nice to let it rest and get something new. Could you help me decide?