Should I Monetise my Hobby?

Many of us have hobbies that we could make money from. You might think that this would only apply to hobbies where you make things such as crafts, but actually you might be able to make money form all hobbies.  This is because you do not have to just produce things to sell, but you can teach people about something, write about it or review it. You can start a social media group, website or blog all about what you do, put up videos or photos and earn money from advertising. There is a lot to think about but it could be a way to earn some extra money, which could help with bills, loans, buying treats or increasing savings and some people even make enough money to live off from doing this.

Do I have a unique hobby?

You need to think about your hobby and whether it is something that is unique and different. There are many different hobbies out there and you need to think about what might make yours a bit different. It might be that you have a much more in-depth knowledge about it or a certain aspect of it than other people. It might be that you have a different way of doing it. It could be that you feel that you have a unique way of explaining it or something like that. It does not have to be that you are doing something new but that you are approaching it in an interesting or unique way.

Can I figure out a way to monetise it?

If you make things then you can sell them. This sounds straight forward but you will need to find a place to sell them. You may be able to sell online through existing channels or you may need to set up a website so that you can sell through it. It is worth doing a lot of research first to see how other people sell similar work so that you can decide whether you should sell in a similar way. Do remember though, that just because people have work listed for sale, it does not mean that they have actually managed to sell it using that means. It can be very hard to tell what might work. If you already have some things that you are happy to sell then you can experiment selling in a few places that are free to sell on and you will be able to see if you are successful.

If you do not make things or do not want to sell the things that you make, there are still ways that you can make money. You can make instructional videos telling people about how to do your hobby. You can show them photos of your collection, work or whatever. You could write about it, perhaps reviewing things or describing things. These sorts of things can be put online, perhaps on your own website or a social media page so that other people can look at them. If they are popular then you may attract advertisers and be able to make money this way. It is important to realise that a lot of people do this sort of thing and so it is worth looking to see what others are doing so that you can decide if there is a space in the market and so you can make what you do a bit different so it stands out.

Do I want to?

It is also worth thinking about whether you really want to do this sort of thing. By making money out of something that you normally find relaxing and fun it could change your perspective on it. It could make it better as you will see some purpose to what you are doing and you could enjoy the money that you make form it and the appreciation that you get from other people from selling or teaching them things. However, you may also find that it makes the hobby less relaxing. You may be thinking about how to make money from it rather than enjoying it. You might be worrying about how you are going to do it well, make it interesting or make extra money from it. This could mean that it is not so much fun or you may feel that you do not want to do it because you feel stressed when doing it.

Think about how you might feel about it. If you are not sure then try it for a short period of time. Just do a little work and see if it makes money and after a few months or so then review it and decide whether you want to continue. You might want to try harder as a few months is not long to try it out, but make sure that you review every few months so you give yourself the opportunity to step back and return to it being a hobby. Although the extra money could be useful, if it means that your life is not so relaxing as a result then you may decide that it is not worth it.

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