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Is Monetising Your Hobby a Good Thing to do?

jennEarning more money can seem like an attractive prospect to many people. Some would much prefer to make money out of their hobby than go to work each day. However, does making money out of your hobby really make sense for everyone?

It is important to start by working out how much money you will need to earn. You may be happy to have a lower income or you may want a higher one than you are on at the moment. Think about whether you feel that you will be able to make that much money from your hobby. Consider whether it might be wise to start working at making money from your hobby in your spare time while you continue working so that you can cover your bills while you get established. Think about how much you will have to sell or do in order to make the money that you need and whether it will be possible for you to do that. Think about the time that you will have, both if you worked part time and full time as well as the potential for earning. You may, for example, have lots of paintings you could sell, but will you be able to sell them and will you have the time to create enough so that you can continue to make a constant income if they do sell well.

It is also important to think about the pleasure that you get form your hobby. Do you enjoy it because it is something where there is no pressure. You can relax and take your time. If you have the pressure of having to do it to earn money then it could become less fun. It may even feel like a chore and you may not want your hobby to feel like this. You may just want to continue to enjoy it without having to keep thinking about how you can earn money from it and whether you are earning enough to pay the bills. You may also find that you want to keep some of the things that you produce, if you are doing art or craft but you will need to sell them in order to make enough money. You may feel rushed and it may mean that you cannot produce the quality of work that you are used to.

However, you may find that it works out really well for you. That you can make enough money to manage your finances well and that you can produce enough items so that you get a constant flow of customers without feeling stressed or pressured. It could be something that you wished you had started a long time ago.

You will need to give it a lot of thought in order to work out how you think you will feel and whether you think it will earn enough money for you. It may be difficult to imagine what things are like until you try so you could try it part time alongside your main job in order to find out.



Rachel Henderson is a professional freelance writer from the UK. She writes on many subjects but specialises in personal finance. As well as contributing to various blogs and websites she has her own website tracking her own money making process and sells her books through

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