Sometimes, saving money is not good enough to keep your debt at bay, and make ends meet. A part time job is always a solution, but what if there was a better way? A way that you would enjoy?
When I first sat down to write this post, I thought I would just create a list of hobbies that make money, but then I got to thinkin’ (one of my hobbies, I guess…)
It would be difficult to find a hobby that could not be used to make money! I mean that seriously. If you are passionate about a subject, and it is your hobby – and you are really, REALLY into it, why is it such a stretch to think you can make money at it?
I don’t care if you grow orchids, collect stamps, brew beer or have the worlds largest collection of refrigerator magnets. You can find a way to make money on all of them! This can be helpful for debt management.
If you’re trying to pay off debt, your hobbies could make you extra money.
If your hobby includes a skill or talent that is developed over time, you can teach others the basics. Examples here are cooking, knitting, crocheting, sewing, fishing, tying flies, or raising worms. Okay, Okay, so I’m hooked on fishing…!
Find a local recreation group or even a Community College that offers night classes in non-credit programs. You can teach others how to do what you do. If there is enough interest, these little workshops can become a sales platform for further classes, or services, or perhaps your “students” can become your customers. They don’t pay thousands of dollars, but I imagine you might enjoy talking about your passion, wouldn’t you?
If you are a collector – (coins come to mind – they are hardly ever worth less than face value!) how extensive is your collection? Do you have duplicates that you would like to trade for other items, perhaps sell some of them? Do you have a unique way of cataloging, displaying or storing your collection?
Due to the miracle of the internet, you can almost immediately be put in touch with thousands of people who share the same interests. And they just might be potential customers for pieces from your collections or your knowledge.
Writing an ebook or even publishing a small pamphlet is a very easy way to make a few bucks. Setup a stall at a flea market selling your collection or crafts, and of course you can also sell your “how-to” guide – how they can create or collect in the same way you do – and avoid the learning curve, or pitfalls. (Experience is the best teacher, but I say, other’s experience is much cheaper!)
Take a close look at what you do in your spare time, (and if you don’t have any spare time – you better make some. Regardless of your financial situation, you need to stop and smell the roses – or grow them – and enjoy some of your own time. ) -and back to our topic – make some money doing it!
What’s the worst thing that could happen? Creating yourself a small business that pays all your bills?
I have heard some folks say that if they took their hobby seriously and tried to make a little money from it, they would lose interest. Well, that is a possibility, but it’s a risk I think is worth taking. Besides, if it truly is your hobby and your passion, you are probably taking it pretty seriously already. And that passion is what can drive the success of your small part time income generator (there’s a euphemism for you, if you don’t want to call it a business.)
Many, many success stories are built around people who take their hobby, their passion, and turn it into a full time income. At the very least, your hobby can begin to pay for itself – which cuts your entertainment budget, and if you really become successful at making money from your hobby, it can become your career!
Okay – so – get out there, have more fun, cut your cost of having that fun, and make a few bucks doing it!
I’d love to see some comments from people who have done this – taken their hobby and started making a small income. I know you are out there! Talk to us!
If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.
