Advertising
Advertising

Who Needs a Job? Hobbies Make Money Too

Who Needs a Job? Hobbies Make Money Too

Are you unemployed? Even if you don’t have a job, you at least have a hobby. With the internet so ubiquitous in modern society, everyone has a shot at gaining the attention of the masses. Once you have someone’s attention, your intention should be to convince them they need your service or product. Whatever you’re into, there’s an audience for it–all it takes is a little resourcefulness.

Hobbies make money. Here’s how to become a professional at:

Plants have always been green...it's considered bad chloroform otherwise...

    Plants have always been green…it’s considered bad chloroform otherwise…

    1. Blogging

    If you have a flair for writing, building a blog is easy. You can get a free blog domain at blog services, such as WordPress or Blogger. Choose a template design to start out, and begin composing entries. Don’t worry about not having an audience yet; you’ll build one with your content. Focus on writing things you enjoy, and learn the basics of formatting. This way, you’ll build a portfolio you can use to apply for paid blogging gigs.

    Advertising

    Amazon Affiliates and Google AdSense accounts are easy ways to earn advertising money from your blog. Learn more about how to make money blogging with our Lifehack on 24 Ways to Earn Money on the Internet.

    2. Gardening

    Gardening is more than a hobby for some; it’s a way of life. Selling your harvest is an easy way to make money, although you’ll need a rather large garden to produce enough to make a meaningful profit. Consider incorporating the fresh ingredients you harvest into other products to sell, instead. Food isn’t the only fruit of gardening labor, however, as the legality of growing marijuana is quickly spreading across the US.

    You can also teach DIY-enthusiasts how to garden through blogging about it. You can tend other peoples’ gardens by searching Craigslist, or other classified ad sites. If you have the experience, contact local nurseries and see if anyone’s hiring. You’ll be rolling in the green in no time.

    3. Playing an Instrument

    The music business isn’t tough to break into. All you need is a way to make music and an audience. If you play an instrument, you can make money by giving private lessons. Touring musicians are constantly looking looking for stand-in musicians while on the road (search gigging for backup bands). Also, it never hurts to leave your card at local recording studios and record stores, in case anyone’s looking for a musician with your skills.

    Alternatively, iTunes, Amazon, and Google all have stores to list your music. List yourself on SoundCloud, Pandora, Spotify, and anywhere else you can. Remember that every artist you’ve heard of has a large team and distribution channel behind them. In order to compete with that, you’ll need to work extra hard.

    Advertising

    4. Sewing

    You can make decent money by hemming clothes, if you’re quick at it. Many people lack this basic skill, and they’re happy to pay $5-$10 to repair clothing that would otherwise cost much more to replace.

    Another way to make money is to sell your handcrafted sewing creations online, with sites like Etsy. You can also sell your homemade sewing patterns online, through your website. In order to get promotion for your patterns, submit them to sewing and craft magazines, for publication. This will introduce your patterns to a large audience and boost sales.

    5. Baking

    If you know how to bake, there’s no limit to the ways you can earn money. Getting a job in a kitchen is so easy. Food blogs are always popular, and there’s never a shortage of people on the lookout for a good recipe. Consider filming yourself or taking pictures while cooking, to expand your audience.

    6. Gaming

    Make money at video games by making wages with friends, like the kids in The Wizard. If you’re particularly leet, it’s even possible to join a professional league. You don’t have to be the most skilled gamer, though.

    Playing video games means you can review or otherwise describe them for any number of publications, if you prefer long-form writing, or retail sites, if short-form is your thing. Plenty of gamers have successful YouTube channels, and Livestream and uCast got a boost from their inclusion in next generation consoles. If you’re especially passionate about video games, working in a retail location, such as Gamestop or EB Games, may be the field of your dreams.

    Advertising

    7. Dancing

    If you like to move it, you could always get money as a dancer. You don’t need to strip; plenty of dancers make a living off the pole. Casting agents and producers are constantly looking for extras and dancers for projects. Dance teachers make a great living too, as people both young and old love taking classes.

    8. Drawing

    Not all artists are starving; many of them make a decent living. Aside from traditional museum art, you can see art in literally every aspect of business–graphic designers creating logos and other branded merchandise for marketing campaigns worldwide. With such a large variety of digital and analog drawing mediums available these days, the only artist who’s truly starving is the one not looking for work.

    9. Gossiping

    If you love keeping up on all the latest gossip, journalism is the job for you. Depending on the subjects you’re into, getting into journalism is really easy–all you need to do is keep watching and reading the news that relates to you. By doing this, you’ll keep up with the juiciest bits of gossip related to your field. Passing this gossip to other people is what journalism is all about, but I’m one to gossip, so didn’t hear that from me.

    10. Socializing

    Everyone wants a social media presence, and some are willing to pay for it. If you’re savvy enough to learn quick ways to gain followers on all the major social networking sites (Twitter, Facebook, Snapchat, Pinterest, Google+), you can turn your love of socializing into a fruitful career. Start with your own social media account, and contact people to showcase how your skills can help their bottom line.

    11. Photography

    Everyone takes photos these days, and everyone still has an insatiable hunger for more photos. If you have an eye for photography, websites such as Shutterstock allow you to sell your work in image format. Other sites, like Cafepress, sell a variety of goods that bear your photo. Also, consider freelancing, and check job search for any gigs or job openings. Whatever you do, keep your camera with you at all times; you never know when you’ll catch a glimpse of a celebrity or noteworthy event.

    Advertising

    12. Telling Jokes

    Everybody thinks they’re a comedian, and with the internet, you have an avenue to prove it. Go out to amateur and open mic nights to perform and perfect your craft in front of a live audience. The comedy site Cracked.com has an open forum setup to vet aspiring comedic writers. A properly hilarious video will get tons of exposure on YouTube. Emulate your favorite comedian by making movies, skits, stand-up, cartoons, or whatever else you can come up with.

    13. Collecting

    You can make money collecting practically anything; whether it’s coins, stamps, comic books, or gadgets. Retro is always in, and people always collect things. Whatever you collect, search the term online to connect with communities who collect the same things. Pawn shops can be a great place to sell certain collectibles,. Many used record and book stores have merged into used-merchandise swap meets, and they’re both great places to buy/sell your collectibles. Otherwise, just post them on eBay or Craigslist.

    14. Shopping

    Not only is mystery shopping legitimate, it’s a great way to make money. Basically, you complete a real transaction, rate the quality, and are reimbursed. If you love shopping, scratch that itch while still getting paid. Otherwise, you can get paid to write product and store reviews anywhere online. Start off with building followers on your Yelp and Foursquare accounts and rating the places you already visit. By the time a paying gig pops up, you’ll already have an established following.

    15. Correcting People

    If you love correcting people, you’ll love being an editor. Sites like Freelancer.com, oDesk, and eLance, provide several job opportunities in the editing field. If editing isn’t your style, try something a bit more active, such as management or teaching. No matter what field you choose, be sure to correct everyone to the best of your ability, because everyone loves a know-it-all.

    Regardless of your hobby, it’s possible to make money. Business principles remain the same no matter what product or service you’re offering, and sales is the key to your company’s future. If you’re tired of slaving away for someone else and want to instead make money pursuing your hobby, open yourself up to the career of your dreams and take a leap of faith. You never know where you’ll end up, until you try.

    More by this author

    7 Ways To Make Exercise Fun For Everyone How to Live Life to the Fullest Say Goodbye to a Skinny Body: How to Gain Weight Fast 20 Things Life Is Too Short to Worry About (+ How to Ditch These Worries) 24 Easy Ways To Make Money On The Internet

    Trending in Money

    1 How to Invest for Retirement (The Smart and Stress-Free Way) 2 How to Nix Your Credit Card Debt in Less Than 3 Years 3 Top 5 Spending Tracker Apps to Manage Your Budget Smart in 2019 4 How to Use Credit Cards While Staying Out of Debt 5 How to Use Debt Snowball to Get out from a Financial Avalanche

    Read Next

    Advertising
    Advertising
    Advertising

    Published on May 7, 2019

    How to Invest for Retirement (The Smart and Stress-Free Way)

    How to Invest for Retirement (The Smart and Stress-Free Way)

    When it comes to stocks, I bet you feel like you have no idea what you’re doing.

    Everyone who’s not a financial expert has been there. I’ve been there. But, time is passing and you need to be crystal clear with how you’re investing for your retirement.

    Otherwise, it’s back to work until you can afford not to. So, how can you invest for retirement when you’re not a financial expert?

    You take the time to learn the fundamentals well. If you do, you can grow your wealth and retire happy. The best part is that you don’t need to be a financial expert to make smart investment decisions.

    Here’s how to invest for retirement the smart and stress-free way:

    1. Know Clearly Why You Invest

    Odds are you already know why should invest for retirement.

    But, maybe you know the wrong reasons. It’s time you get clear on why you’d like to retire. Here are some questions to help you get started:

    • Will you spend more time with your family?
    • What does retirement mean to you?
    • Are you looking to launch that business you’ve been holding off for years?

    Everyone wants to retire but not for the same reasons. Once you’re clear for why retirement is important for you, you’ll focus on making it happen.

    Investing in the stock market allows you to take advantage of compound interest.[1] All this means is that your money earns money on top of its interest. A reason why investment in the stock market is one of the best ways to plan for retirement.

    2. Figure out When to Invest

    “The best time to plant a tree was 20 years ago. The second best time is now.”– Chinese Proverb

    It’s true if you’d had started investing when you were 10 years old, you’d have a lot more money than you do today.

    The reality is that most people don’t start investing until it’s too late. So, if you’re currently waiting for the perfect time to start an investment, it would be today. Open your calendar and block out 2 to 3 hours to choose how you’ll invest for retirement.

    Advertising

    A quick way to get a snapshot of where you stand is to use Personal Capital. Input all your personal information and spend some time setting your retirement goals. Once completed, you’ll know where you stand with your retirement.

    Having a savings account for retirement isn’t planning for retirement. Why? Your money loses value when you factor in US inflation.[2]

    3. Evaluate Your Risk Tolerance to Create the Perfect Portfolio

    Investing your money well depends on your emotions.

    Why?

    Because when the market drops most people panic and withdraw their money. On average, the US stock market yields an annual 6% to 7% ROI (return on your investment.) But, this won’t happen if you’re worried about short-term loses.

    Before you invest your next dollar, know your risk tolerance.[3] Your risk tolerance determines the number of risky and safe investments you’d have.

    Regardless of your investing style, you need to view investing for retirement as a long term game. Know that some years you’ll lose money but recoup this in the long-term.

    Avoid watching market-related new. Also, create a double authentication to log in your investment account. This way you’re less likely to withdraw your money.

    4. Open a Reliable Retirement Account

    Depending on your circumstance, you may need to open a new brokerage account. This is the account is where you’ll invest your money.

    If you’re currently working for a company, odds are that they offer a 410K investing account. If so, here’s where you’ll invest most of your money. The only problem with this is that you’re limited to the stock options that are available.

    You do have the option to open a separate IRA (individual retirement account.) Here are some of the best brokers:

    1. Vanguard
    2. TD Ameritrade
    3. Charles Schwab

    5. Challenge Yourself to Invest Consistently

    Committing to invest for retirement is hard, but continuing to do so is harder.

    Advertising

    Once you’ve started investment for your retirement, you run at risk from stopping. Often you’ll want to contribute less, so you’d have more money in your pocket.

    That’s why it’s important that you create a budget that allows you to invest each month. If you’re working for a company, you can set a percentage for the amount you’d like to contribute each month. Most people by default contribute 1% but aim to contribute 10% to 15%.

    Be the judge for how much you can afford to contribute after covering important expenses. To stay motivated, use Personal Capital to view your net worth.

    A benefit to contributing money to your retirement account is not taxed. For example, if you earn $100 and invest 10%, you’d contribute $10, then get taxed on the remaining $90. As of 2019, the most you’re able to contribute towards your 401K is 19K but this can change.

    6. Consider Where to Invest Your Money

    The most common way to invest your money is in stocks, but it’s not the only way. Here are other ways to invest:

    Robo Advisors

    Robo-advisors[4] are fancy algorithms that’ll choose the best investments for you. Sites like Wealthfront make it easy for first-time investors to invest their money. You’d input information about yourself and set your risk tolerance.

    Then, set your monthly contribution amount and your robo-advisor would do the rest. Robo-advisors charge a fee to manage your money, but less than regular advisors.

    Bonds

    Think of bonds as “IOUs” to whomever you buy them from.

    Essentially, you’re lending money and charging interest. Like stocks, not all bonds are equal. Some will be riskier than others depending on their rating.

    Here are the different types of bond categories:[5]

    1. Treasury bonds
    2. Government bonds
    3. Corporate bonds
    4. Foreign bonds
    5. Mortgage-backed bonds
    6. Municipal bonds

    Mutual Funds

    Picture a group of people dumping all their money in a jar that’s managed by a professional. This is how mutual funds work. The fund manager manages the money looking to earn capital gains (interest.)

    One of the best types of mutual funds is index funds. Since these funds don’t try to beat the market and instead follow it, they need less research. Because of this they often charge the lowest fees and yield the best long-term results.

    Advertising

    Real Estate

    Yes, buying a home is an investment when done correctly.

    Imagine buying a home and using it as a rental property. After repairing it, you receive a monthly surplus check of $100 to $200.

    This may not sound like a lot, but repeat this process enough times and you’d earn a large amount of passive income. That’s why real estate is one of the best investments to not only retire but become wealthy.

    But, it requires a lot of money to start and you should expect losing money along the way as you learn the process.

    Savings Accounts

    Your money can still grow in a savings account. Nowadays most online banks offer a 2% annual return. Although the average inflation is higher your money will be available when you need it.

    7. Master Disincline to Dodge Short Success

    Investing for retirement is a long-term strategy. That’s why you need to master delayed gratification. All this means is delaying short-term pleasure for something bigger in the future. Research shows that those who have delayed gratification are more successful.[6]

    So how can you master delayed gratification?

    By building your discipline.

    Think back to what retirement means to you. A clear purpose will help you avoid withdrawing your money during a market downturn. It’ll help you contribute more towards retirement when you’d want to waste it instead.

    Your journey towards retirement will be long, so reward yourself along the way. Choose a reward that’s relevant and meaningful, so that you reinforce positive behavior. For example, after contributing more towards retirement, treat yourself to dinner.

    8. Aggressively Invest on This One Investment

    I’ve mentioned several types of investments but haven’t covered the most important one.

    It sounds cliche but here’s why you’re your best investment towards retirement. The more you know, the more money you’ll be able to make. The more good habits you adopt, the more secure your retirement will be.

    Advertising

    More importantly, investing in yourself is an investment that no one can take away. There’s no market downturn nor tragic circumstance that’ll wipe your knowledge and experience.

    But, how can you invest yourself?

    Reading books, blogs, and anything that’ll help you learn new topics daily. Listen to podcasts and audiobooks on your commute to/from work.

    Save money to buy courses and hire coaches. I used to believe hiring coaches was a waste of money when I could learn the subject alone.

    But, coaches see your blind spots and hold you accountable. Hiring the right coach will help you achieve your goals faster than you would’ve alone.

    Retire Happy with Excess Money

    The key to a secure financial future doesn’t only belong to financial experts.

    It’s possible for you and I. What if you were able to retire earlier than most people and weren’t a financial planner? What if you were able to focus on what you enjoy doing the most while your money was working hard for you?

    I know this sounds impossible now, but the truth is you’re capable of taking charge of your retirement. I’m not a financial expert but I’ve learned how to invest my money by reading books and learning from others.

    Investing your money is scary. So start small and invest a small amount of your money with a robo-advisor. Feel your money drop and rise for a month or two. Then, invest more and keep this up until you’re aggressively saving for retirement.

    One day, you’ll wake up with a net worth you’re proud of – confident about your retirement. You now know a few strategies you can use to invest in your retirement. Will you take action to retire happy?

    More Articles About Making Wise Investment

    Featured photo credit: Matthew Bennett via unsplash.com

    Reference

    Read Next