If you’re finding it harder than ever to stay within your monthly budget, you aren’t alone. In fact, one in four adults are struggling with the rising cost of living, which means it’s harder than ever to make every cent count.
Fortunately, there are many ways in which you can adapt to these changes while working to remain financially healthy. For example, you should try to cut costs where possible, perhaps by canceling unused subscriptions or switching to a more sustainable energy provider.
However, you may also want to keep an eye out for ways to boost your income during this time, such as by picking up a side hustle. This way, you can nicely supplement your monthly earnings and perhaps even begin to pursue a new career if things go well.
Photo by Garrhet Sampson on Unsplash
Which side hustle should I choose?
While there are many benefits to picking up a side hustle, it’s important to note that it is also a time-consuming and sometimes stressful process. After all, you’re essentially giving up your free time to do more work. As such, it’s crucial that you choose a side hustle you actually enjoy, that aligns with your hobbies and interests. This way, any time you spend working on your side hustle will feel well-spent, and you’ll have a genuine drive pushing you toward success.
How to make extra money through hobbies & interests.
Fortunately, there are many ways in which you can make money through your hobbies and interests, whether you are an artist or a writer!
Participate in focus groups.
Participating in paid focus groups is one of the easiest ways to make extra money – and the work is often far from complex – in fact, you’re simply paid to give your opinion and may even be able to snag some free products along the way. Again, to make the process more interesting, try to sign up for focus groups for brands that you already love or those that match your interests. For example, if you love discovering the latest fashion trends, you may want to keep an eye out for fashion-related focus groups.
Run a blog.
Running your own blog can also be a great way to supplement your income, though it’s important to note that this may take some time to take off. For example, most bloggers wait between 6-12 months before they start seeing any kind of financial benefits to blogging – but this does not make it any less fun! After all, it gives you the chance to share your ideas, thoughts, and opinions with a global audience and perhaps even make some friends along the way.
If you want to make money from blogging, the trick is to be consistent. Post regularly, while always ensuring the content you produce is of a high quality. Don’t post for the sake of it – make sure you have something interesting or insightful to say. This is one of the easiest ways to build up a loyal following.
Grow a social media following.
Did you know that the average adult spends 2 hours and 31 minutes on social media each day? However, if you play your cards right, you could turn your screen time into yet another way to make money. While this is an incredibly competitive field, finding a niche and creating unique content is a great place to start.
For example, you should start by embedding yourself within a popular community that you are already familiar with. For example, if you enjoy online gaming, this could be a great place to start. You can then begin to curate gaming content, such as snippets of game play, which you can record from your phone (find out how to do so here: https://setapp.com/how-to/screen-record-on-iphone) or game reviews.
While the content you put out there is important when it comes to building a following, you should also ensure that you get involved within the general gaming community too. For example, you should engage with other gaming influencers content, by liking, sharing and leaving comments. They are likely to return the favor, which means that engagement will increase on both of your accounts. This also gives you the chance to collaborate on projects or make valuable networking connections.
Sell items online.
If your hobby is craft-related, such as pottery or painting, or you are a DIY pro, you could make a lot of extra money by selling your products online. Try to focus on websites that directly support small business owners and creatives such as yourself, such as Etsy or Redbubble, as they do not take too much commission away from sellers.
However, in order to really succeed in this industry, it’s also important that you are able to market your brand or products. Social Media is perhaps your best bet here, though, you should be sure to tailor your content specifically to your target audience, which could mean that you have to use platforms you may not be as familiar with, such as TikTok.
Another way in which you can make money while still dedicating time to your hobbies, passions, and interests is by becoming a tutor (online or in person). This way, you get to spend more time doing what you love while also inspiring the next generation of writers, artists, musicians, and more.
Fortunately, there are many ways in which you can become a tutor, as, unlike other teaching professions, you do not need a specific degree or qualification – though previous teaching or tutoring experience will definitely come in handy.
When starting out as a tutor, you may want to work with a tutoring company that can provide you with any extra training or support you need in order to become a great tutor. Alternatively, you could set up your own business. While it may take some time to build up a roster of students, you’ll soon see the financial benefits of tutoring, and it could even encourage you to pursue a teaching career further down the line.