How to Turn Your Hobby into Real Money?
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High school students, stay-at-home parents, college grads, and retirees are all getting on the same bandwagon: the side hustle. According to a recent dollarsprout survey, 57% of respondents claimed to have a side hustle with the most common reason to earn extra spending money. Many of the respondents were finding ways to make money by doing services that they would be doing regardless but have found a way to monetize their passion.
Time is a luxury that many of us have in increasingly short supply. The thought of working extra hours for whatever reason might seem absurd. However, what if we said that you could make money from doing what you love, and from doing what you would typically do for free? We are here to show you how to funnel the time that you are already dedicating to your hobby into making real money.
Isolate Your Skills
Think about what you love to do and what you are good at. What do you do that is unique? Side hustles include being part of the gig economy like driving for Uber; however, unless you consider driving a hobby that you would do just for the love of it, this isn’t the skill set we are talking about here.
Many of you reading this might be rolling your eyes and wondering how you could make money if your only hobby is baking for your family or going to the gym. However, each of these tasks takes an extreme amount of skill, which could be pivoted ever so slightly to being a service and earning an income.
For example, rather than simply baking for your family, you could:
● Write your favorite recipes
● Take pictures of your food and start a blog or social media account
● Make weekly baking baskets
● Make your own unique recipes
● Offer baking classes
On top of going to the gym, you could:
● Write out your weekly fitness program
● Make videos of your fitness moves
● Make inspirational fitness videos
Monetize It
Isolating your skills is the first step, but you still need to figure out how to monetize them. In our increasingly digitized world, any intellectual property that can be saved can be monetized from ebooks to photos. You could write a weekly fitness program and continue to reap the rewards from thousands of clients without any further work. Alternatively, you could offer private baking classes directly from your own home.
Creating a side hustle involves thinking outside the box, but you’ll quickly find that the internet opens your services up to a world full of other like-minded people that might be interested in your offerings. Once you start to earn money, ensure that you have spoken to a CPA near me to make the most of any potential taxation allowances.
While it is true that some people can earn significant additional income from their side hustle, there is no doubt that it takes perseverance, dedication, and know-how. The dollarsprout survey showed that 39% of respondents only made an additional $50 or less monthly from their side hustle. This sum might be enough to warrant a night out, but it isn’t likely to put much of a dent in the household budget. However, 14% were able to earn more than $500 extra every money, and 6% topped over $1000. Think about what you would be able to do with that kind of money every month!
Time is a luxury that many of us have in increasingly short supply. The thought of working extra hours for whatever reason might seem absurd. However, what if we said that you could make money from doing what you love, and from doing what you would typically do for free? We are here to show you how to funnel the time that you are already dedicating to your hobby into making real money.
Isolate Your Skills
Think about what you love to do and what you are good at. What do you do that is unique? Side hustles include being part of the gig economy like driving for Uber; however, unless you consider driving a hobby that you would do just for the love of it, this isn’t the skill set we are talking about here.
Many of you reading this might be rolling your eyes and wondering how you could make money if your only hobby is baking for your family or going to the gym. However, each of these tasks takes an extreme amount of skill, which could be pivoted ever so slightly to being a service and earning an income.
For example, rather than simply baking for your family, you could:
● Write your favorite recipes
● Take pictures of your food and start a blog or social media account
● Make weekly baking baskets
● Make your own unique recipes
● Offer baking classes
On top of going to the gym, you could:
● Write out your weekly fitness program
● Make videos of your fitness moves
● Make inspirational fitness videos
Monetize It
Isolating your skills is the first step, but you still need to figure out how to monetize them. In our increasingly digitized world, any intellectual property that can be saved can be monetized from ebooks to photos. You could write a weekly fitness program and continue to reap the rewards from thousands of clients without any further work. Alternatively, you could offer private baking classes directly from your own home.
Creating a side hustle involves thinking outside the box, but you’ll quickly find that the internet opens your services up to a world full of other like-minded people that might be interested in your offerings. Once you start to earn money, ensure that you have spoken to a CPA near me to make the most of any potential taxation allowances.
While it is true that some people can earn significant additional income from their side hustle, there is no doubt that it takes perseverance, dedication, and know-how. The dollarsprout survey showed that 39% of respondents only made an additional $50 or less monthly from their side hustle. This sum might be enough to warrant a night out, but it isn’t likely to put much of a dent in the household budget. However, 14% were able to earn more than $500 extra every money, and 6% topped over $1000. Think about what you would be able to do with that kind of money every month!