Make Money From Your Hobby


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Have you ever wondered what it would be like if you could earn money from doing your hobby? If you really think about it from a financial aspect, it makes good sense.

You likely already have all the tools it takes to enjoy your hobby and you probably want to sharpen your skills and get better and better at your hobby. And more likely than not, you’re willing to invest additional money into whatever tools are necessary and the time it takes to practice your cherished activity. Right?

Getting paid is just the icing on the cake. Not to mention anything you spend on tools will be tax deductible. Making money from your hobby is a pretty smart thing to do. After all, when you love to do something, you’ll want to do it all the time.

If you want to earn money from your hobby, there are some strategies to use to achieve this goal. Selecting the hobby that provides the best chance to earn money, starting small, saving receipts for tax purposes, and developing your skills to perform the hobby are integral strategies to take to make money from your hobby.

Let your creativity run wild and consider the following strategies to make money from your hobby...

Published in: Economy & Finance, Business
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Make Money From Your Hobby

  1. 1.  From a financial perspective, making money on something you love simply makes good sense.  Getting paid is icing on the cake if you are doing what you love.  Making money through a hobby is simply a smart thing to do.
  2. 2. “I am a very lucky man. I am living my life with my hobby as my profession.“ – Jim Sullivan Choose a Hobby
  3. 3. Choose a Hobby Assess all of your options. What do you enjoy? List them out. Educate yourself about the topics and hobbies that you enjoy. Create, create, create. Ramp up your creation and make more items to sell. Sell your skills. Do what you are good at based on your unique skill set. Keep your mind wide open. What do you love to do and how can you monetize it?
  4. 4. “I do what I did as a hobby as a kid, you know, and make a living at it. And I just feel like I’m one of the luckiest guys in the world ’cuz I get paid to make toys and play with them.”–Rick Baker Hobby Ideas
  5. 5. Outdoor Pursuits • Become a tour guide. • Give a new perspective on an area. • Establish yourself by charging less. Boating • Take people fishing on your boat. • Provide them with the equipment. • Charge hourly. Fishing • Paint patio floors, walls and driveways. Decorative Painting
  6. 6. Craft Hobbies • Design pieces and sell them. Woodworking • Develop a unique brand. • Produce the things you love to make. Knitting and Crochet • Work with materials that interest you. • Sell your jewelry creations online and off. Jewelry Making
  7. 7. Online Activities • Earn money helping other people produce websites. Creating Websites • Experiment with computer art software. • Create dynamic art and sell it online. Art Design • Sell your photos online. • There is a substantial market for stock photography. Photography
  8. 8. “It was just a hobby. I didn’t expect it to turn into a business.” – Phil Katz Starting Small
  9. 9. Start Small Recognize that you are starting a small business. Limit your spending at first. Examine your tools and your knowledge base. Focus on doing the things that you do well. Give the pursuit a year, then expand as necessary.
  10. 10. “It feels important to go to school; not necessarily to further my education, but more like a hobby.” – Mandy Moore Save Receipts and Keep Records
  11. 11. Tax Deductible Costs Advertising costs. Internet connection costs. Office supplies and postage costs. Printing costs. Travel costs. Supplies costs. New equipment costs.
  12. 12. Tax Deductible Costs  Any costs incurred in performing the hobby are tax deductible if your hobby is a business.  Keep accurate records of all incomes and costs.  Use a spiral notebook and file folders to keep your business records all together. Write everything down.  Consult an accountant or tax expert with any questions or uncertainties that you have.
  13. 13. “I have an expensive hobby; buying homes, redoing them, tearing them down and building them up the way they want to be built. I want to be an architect.” – Sandra Bullock Develop Your Skills
  14. 14. Tax Deductible Costs Develop your skills. Find a mentor. Join groups and clubs. Watch videos online. Read about your hobby.
  15. 15. “We’ve been doing this for 10 years and it’s been a hobby for a lot longer than it’s been a job.” – John Campbell Tap Into Your Creativity
  16. 16. Show off your own individual creativity. Delve deep within yourself to come up with unique and interesting ideas. Do something special in order to highlight your work and set it apart from the work of others. Show off your efforts and abilities by making your skill into something more interesting.
  17. 17. “Making money is a hobby that will complement any other hobbies you have, beautifully.” –Scott Alexander Perfect Your Skills
  18. 18. Practice, because practice makes perfect. Become a resident expert. Know everything there is to know. Present during hobby seminars in your local area, share what you do. Teach other people, instructing them on your craft to develop a reputation.
  19. 19. “Life’s a hobby.” – Joshua Lederberg Set Your Prices
  20. 20.  Look at how other people are pricing similarly designed services and goods.  Consider how much time is expended in labor for the production of you products or services.  Be meticulous in all aspects of your record keeping.  Keep prices low at first to get more business when you first start out. Adjust prices later as needed.
  21. 21. “Golf isn’t just my business, it’s my hobby.” – Lee Trevino Market Your Abilities
  22. 22. Market Your Abilities Develop simple marketing materials. Use the internet for marketing. Establish a presence within the community. Join up with the Chamber of Commerce to meet other business owners. Display your work at trade shows. Made contacts in the media. Get to know other business owners. Keep in touch.
  23. 23. Excellent Customer Service
  24. 24. Excellent Customer Service • Be approachable to prospective customers. • Listen actively to people who approach you. • Apply the knowledge gain from customers to your business. • Return all calls and e-mails promptly. • Guarantee all goods and services you produce.
  25. 25. Summary  You can make money from your pastime as a realistic goal.  If you enjoy practicing your craft, you could turn it into a small hobby business.  Select the right hobby, then start small and work on developing your skills to turn your hobby into an income stream. “Today is life - the only life you are sure of. Make the most of today. Get interested in something. Shake yourself awake. Develop a hobby. Let the winds of enthusiasm sweep through you. Live today with gusto.” – Dale Carnegie
  26. 26. We hope you enjoyed your Special Report! Curtis Roese is an experienced professional with extensive experience in personal finance and small business matters. Curtis writes and publishes articles, courses, guides and special reports on his personal finance blog. Common Cents Wisdom is a website with hundreds of informative articles, special reports, resources to assist you with all of your financial concerns and a free monthly newsletter. Sign up to receive your free eBook "Common Cents" and get started today on the road to financial freedom!
  27. 27. This Free Course Includes:  A Complete 80+ Page, 16-Module Home Study Course in PDF format  Companion Worksheets and Cheat Sheets  Budget Helpers, Worksheets, and Trackers  Bonus Audio Interviews with Financial Experts  My Secret Resource List of Helpful Money Sites, Tools, and Calculators  Bonus #1: Boosting Your Value Without a Formal Education  Bonus #2: Building a Wealth and Prosperity Mindset  Bonus #3: 25 Ways To Protect Your Identity Don’t Delay! Get Your Free Course Now!
  28. 28. Sign Up ~ FREE Personal Finance Newsletter “Finally… A High-Quality, Content Rich, No BS Newsletter Written Specifically For Those Interested In Personal Finance” What you can expect to receive EVERY Month by signing up:  Special Report – 10 to 20 page in-depth report on Personal Finance topics important to you!  Articles to keep you informed on a variety of topics relevant to your financial freedom.  Action Guides, Worksheets, Resources & Buyer Guides!  Monthly Financial Calendar to keep you organized and current with managing your personal finances.  Periodic reviews of Products and Services – Real Financial Solutions ~ Real Fast!