4 Steps to Earn Extra Income

By Bryanna, from Balance with Bryanna.

You don’t have to work overtime to boost your financial situation – you just need to use a little bit of creativity to make your passions profitable! Read on to learn how you can make almost $1,000 extra each month doing things that you enjoy in your free time.

1.   Figure out what brings you joy. What do you do by choice in your spare time? What kinds of activities make your heart sing, get you up out of bed, and create room for personal growth or relaxation? Open your Google calendar, and think about what you did in all of the blank space between scheduled activities. Write down a long list of activities that bring you joy. For example, you may enjoy yoga, cooking, talking to friends, playing with animals, exploring, reading, house hunting, hiking and meditating.

2.   Determine which of those activities cost you money. Lots of hobbies require monthly memberships, equipment, or travel expenses. Write the monthly cost beside each activity. For example, yoga classes ($100), caring for a dog ($90), dinner with friends ($60). Seeing which hobbies bring you the most joy compared to the cost can help you prioritize your time.

3.   Evaluate where you can reduce costs. The easiest way to “make money” is to cut your expenses. Instead of going out to dinner with friends every Friday, can you meet for a drink ($35/month) or go for a walk (free!) instead? Many fitness studios offer free classes in exchange for work at the front desk, design help on the website, or writing their blog posts. If your passion is yoga, you can earn money by teaching it and also get unlimited access to other yoga classes at multiple studios (free!).

4.   Get creative about making money. Evaluate your hobbies and see which ones can provide income, no matter how small. If you want to get a dog but recognize food and vet visits will cost a lot of money, you can satisfy your dog-snuggling desires and get paid to host other people’s dogs when they are on vacation using sites like dogvacay.com. You can even get paid to exercise by signing up as a dog walker.  If you like painting, head to the thrift store, buy an old piece of furniture that needs some love, and put a fresh coat of paint on it. Add a cute knob, then put it on Craigslist for more than you paid in time and materials. You make money while fulfilling your creative outlet, and you help someone decorate their home with a unique piece! Are you passionate and somewhat good at dancing, singing, or speaking a language? Host a class at your home, or sign up to be an instructor on websites like takelessons.com.

What does all of that fun add up to? Let’s take a deep dive.

Teaching Yoga 8x/month: $240

Free Yoga Classes: (savings of) $100

Hosting Dogs 8 nights/month: $200

Painting & Selling Furniture 2x/month: $175

Total: $715

Bottom Line:  Hobbies don’t need to drain your savings account. In fact, you can generate income from most hobbies with creative thinking. Here are four steps to monetizing your hobbies!

Did you find this post interesting?  If so, check out our website at www.minmylife.org.  If the subject material of this blog post caught your attention, I recommend reading our post on The Hedgehog Concept.

What are your money making hobbies?  Feel free to share in the comments!  

This is Bryanna’s first post with minmylife.org.  If her words inspired you let us know so she’s motivated to write more for us!

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s