Hobbies are a great way to learn new skills, meet new people, and make valuable use of your time. They also decrease stress levels and provide a sense of purpose for people of all ages. Research suggests 74% of the UK population have at least one hobby. But what if your hobbies could be more than just a fun out-of-work activity? What if your hobbies could have the potential to make a little extra cash? Almost anything can bring in an income, although some hobbies are more lucrative than others. So what hobbies are best to pursue if you want to earn an additional income? And how can you turn your hobby from a fun pastime into a money-making opportunity? Here’s everything you need to know about how to make money with your hobby:
The Ten Most Popular Money-Making Hobbies
- Gardening
If you have green fingers, then your passion for gardening could be turned into an incredibly lucrative side hustle. So many people simply don’t have the time or the inclination to maintain their own gardens and are happy to pay good money for a great service. - Calligraphy
Calligraphy is a fascinating hobby and one many people find incredibly relaxing, but it’s also a highly desirable art form. If you have excellent calligraphy skills, then you’ll find a high demand for your services. From addressing wedding invitations to designing handmade flyers, you’re sure to find a strong customer base in your local area. - Personal Shopping
Passion for fashion? Strong sense of style? Why not make some extra cash by shopping with someone else’s money! Personal shopping services will give guidance to others about what to purchase and pick up essential purchases for those who are too time-poor to do so themselves. - Driving
If you enjoy spending time behind the wheel of your car, then this is likely to be one of the easiest hobbies to monetise. Companies such as Uber and Lyft are often looking for drivers and are ideal money-making opportunities if you live in a city with a large population. - Baking
Baking is an incredibly popular hobby, and cakes, cookies, and other baked goods never go out of fashion. If you are a talented baker then why not box up your creations and sell them within your local community? Facebook marketplace and other local selling sites are great places to advertise your services - Dog Walking
Whether you already have a dog of your own or live in a pet-free home, if you love spending time with animals and want a hobby that will see you spending time outdoors then why not try dog walking? Time-poor dog owners will happily pay for their four-legged friend to get outside during the working day. You can set your own hours and choose how many dogs you walk at any given time. - Sewing
There are many people who don’t know how to sew, so if this is a hobby you enjoy then it is an easy one to monetise. Offer simple sewing services in your local community. From altering clothes to hemming curtains, focus on the sewing projects you enjoy the most and start from there. - Photography
Use your photography skills to capture other people’s special moments and monetise your skills. By building up a portfolio of your work, you can then begin making money from photographing engagements, birthday parties, weddings, christenings and more. - Playing Music
If you have a passion for music and a high level of expertise in playing a musical instrument, then this is a skill and a hobby that is easy to monetise. From playing the piano in restaurants and bars to playing the harp at weddings, there is always an occasion where music is appreciated, and people are prepared to pay for these services. - Crafting
Finally, if you enjoy spending your downtime creating handicrafts then these are perfect to resale and monetise. From creating quilts to fine jewellery, and paper crafts to hand-sewn goods, online marketplaces such as Etsy make it easy to sell your crafts and monetise your hobby.
The Financial Implications
Making a side income from a hobby isn’t as simple as being good at your chosen area. Whilst your hobby skills may be exemplary, you will still need to have a head for business, and this can take time to understand. You will need to consider the financial ramifications of how to make money from your hobby. For example, Etsy charges 15p for each listing and asks for a 5% fee when you sell. If you make a sale directly through its off-site advertising, it charges a 15% fee. As you are charged to list your items, even if they don’t sell, this means that you will need to have some funds to invest in turning your hobby into an income stream.
You will also need to consider the tax implications of making money from your hobby. Any side business earnings of above £1,000 a year must be declared to HM Revenue and Customs, and you need to complete a tax return at the end of January each year or face penalties and fines. The best way to stay on top of your income is to set up a separate bank account for your hobby earnings.
Conclusion
When contemplating how to make money with your hobby, it’s important to pick a hobby that you really enjoy. When you enjoy what you do, it won’t feel like you’re working. You should also consider investing your time in another hobby too. This is important because once your existing hobby becomes something you make money from, it may start to feel a bit more like work, and you may need something else to help you relax and enjoy your leisure time. If you are hoping to make money from your hobby, then choosing any of the hobbies outlined above is a great place to start. Simply consider your current interests and skill sets and use this as a starting point to guide your earning opportunities.
