How you can cash in on your hobbies
Don't let anyone tell you that your hobbies are a waste of time and money. A new study has revealed that they may end up being one of the most valuable things in your life. Apparently one in four of us make money from our hobbies, and 15% have actually turned it into a full time job.
The research, by AXA, discovered the top ten hobbies are:
1. Reading
2. Cooking
3. Running
4. Gardening
5. Board games
6. DIY
7. Gaming
8. Visual arts
9. Sewing and knitting
10. Football
The cost
We're totally committed to our hobbies: 95% of people spend one working day a week on them, a quarter of us spend more time on our hobbies than we do on socialising, and one in 12 spend more time on it than they do with their other half.
Over the years our hobbies haven't been cheap. We have invested an average of £302 in equipment, and we spend an average of £44.42 a month on our hobbies. The most expensive options are skiing (£81 a month), martial arts (£77 a month), and rugby (£77 a month).
There's every chance you've faced your share of criticism for the time and money you invest in your hobby, but there are ways that almost every hobby can pay.
The payback
It's worth highlighting that the rewards aren't just monetary. The research has been done as part of AXAs Live Boldly campaign, encouraging people to explore new hobbies, and Jyoti Bird from AXA Insurance comments: "We know that no matter who you are, you can benefit hugely from dedicating even a small amount of time to doing the things that you enjoy."
Psychologist and writer, Emma Kenny, says it runs deeper than mere enjoyment. She explains: "Hobbies help us focus, and be present. When we're doing our hobbies, we're not worrying about next week or last week, so our anxiety is lowered and we feel more positive. Busy people will say they don't have time for a hobby, but making the time will reduce stress and help them work better on all levels."
Can you cash in?
If the only reward you're after is financial, then hobbies can be real money-spinners too. Kenny says one option is to identify where your hobbies fit into a gap in the market. The top five hobbies include a number of key skills that many people ask the time and knowledge to do themselves. It doesn't take much of a leap of logic to see how you can make money by offering your gardening, cooking or DIY services.
Other hobbies finish with an end result - such as baking, visual arts, knitting and sewing. It's worth keeping your eyes peeled for local fayres where you can sell your products - that's not just local craft fayres, but vintage fayres and wedding fayres too. Think about how you can tailor your skills to produce items that are in demand.
In addition, the advent of online craft marketplaces like Etsy means you can easily set up an online store, and reach a wider audience. Just make sure you can deliver on your orders.
What about football?
Even hobbies with less obvious monetary value can pay. Kenny says: "We see more and more people doing what they love, and then capturing an audience for what they do. This might be through blogging or vlogging. It might be new to you, but it's often enjoyable, and a way to make money from your hobby." The advertising on very popular blogs and Vlogs can return handsome rewards.
Gaming is a huge part of Vlogging, so if you are glued to a console, it's worth considering whether you can make a video of your gaming, and attract an audience. There are other hobbies on the list which would make interesting subjects for blogging, including sharing book reviews, running tips, and football knowledge.
And even when you may not expect an audience, it's worth searching for what other people are doing in the area. If your passion is for puzzles, for example, check out puzzlers. If you collect particular figures or toys, check out the unboxing videos. It's amazing what people will watch.
