I don't spend time "learning" animation anymore. However, I do observe people and how they move. Since you're new to it, I'd suggest to learn how to animate to begin with, the basics. 2-3 hours everyday, give yourself a couple hour break every now and then, then continue working on it.
2D animation is how I learned. I started with drawn animation and quickly progressed into the realm of 3D within the past year. The best way to learn, if I learned anything from college to pass on to other people, is that you observe people, watch 2D and 3D animation and note how weight is passed throughout the body. You need to balance and counter-balance a character and include curves within animation (even if it's keyed out). Just practice, create walk-cycles, run-cycles, jumping, run and jump sequences, kicking, lifting objects, etc. Those are the best ways to learn.
I've been working in the industry for 4-5 years, and I sill spend all my free time studying.
I'm a 2D animator, so gesture drawing eats up most of my time. I sketch 2 hours a day on the bus + work 8 hours on 2 tv shows, and draw more when I get home. - but most of the people I work with don't spend tonnes of free time drawing.
If you feel like you waste time- on tv, games, or what ever form of procrastination you choose- than you could be working more. If you feel like you waste too much time gesture drawing, and don't spend enough time on perspective studies, or timing studies- you're gonna do ok.