So I was just brainstorming a bit thinking of ways to earn a little extra without the responsibilities of actual employment, meaning you can do it when there’s time and put it on hold if you have to. Personally I like crafting so I could imagine having something like a little etsy store. I could carve beads from wood, antler or bone and turn them into jewelry. Something like that. That wouldn’t just be a way to make money but also sounds like a nice hobby. Not sure how financially feasible it would be though, maybe someone here already has some experience? But yeah I’d love to hear about your ideas/advice. Anything that’s legal and not exploitative, be it entirely independent or also freelancing stuff that doesn’t require special training.
I’m a tax consultant, so I see a lot of people’s side hustles.
As other’s here have said, once you monetise a hobby it’s not a fun hobby anymore… just another responsibility.
Take the beads thing for example. Carving some beads to make some cool jewellery sounds like a great hobby, and you could make some really amazing unique gifts for family. However, if you want to make money from it then you need to compete with other etsy vendors - you’ll very quickly find the pieces that sell and then it becomes a question of how many of those pieces you can turn out per hour or per day.
Economically, making money requires time, or skill, or capital. The most appropriate will be a mix of all three that fits your circumstances. As a “side hustle” you kinda want a little of each rather than a lot of each. Good examples might be:
These things aren’t “hobbies” but they will be a lot more satisfying, enjoyable, and profitable than carving beads.
Thanks, that’s quite insightful. I think I could see myself walking dogs actually.