Hobbies usually eat up your budget but if you think about, it can also be a great way to earn you some extra money. If you are in debt, you need to increase your income. It doesn’t mean you should forego debt help. You can combine debt relief with growing your income. It will be a lethal combination to help you get out of debt without damaging your financial reputation too much.
The thing about some debt relief options they have the possibility of ruining your credit score. However, if you choose debt consolidation, you don’t have to worry about it. You will still end up paying for the whole balance so that is not noteworthy in your credit report. If there is debt reduction, then the creditors will report it. But since there is no debt reduction, you need to have ample income to support it.
The single restructured payment plan of debt consolidation will allow you to make lower monthly contributions because your balance is stretched over a longer payment period. And since your debts are consolidated, you don’t have to spend too much time monitoring it and making sure that everything is met. That will free your time to increase your income. And given that you have a longer payment period, you need to ensure that your income can support it. That calls for a supplemental income.
Your hobby can be a great way to earn money. Think about it. Earning more money requires you to work harder and longer hours. If you can work on something that you love to do, then it will not feel like work at all. So the question is, how can you use your hobby to earn?
Arts and Crafts. If you have this talent, you can teach part time in art classes. You can also create pieces and sell them in a gallery or online.
Writing. Set up a blogsite, get advertisers, build up traffic and you should be able to earn through commissions. You can also write an ebook and sell it online – which is a great passive income. Or, you can look for clients who are searching for web content writers and get paid for every article or content that you write for them.
Photography. Being a freelance photographer is useful for both print and online publications. You can also sell your best photos online – like an ebook, it is another form of passive income. You can also partner with a videographer and cover small events and intimate gatherings. Usually, celebrations and parties happen after office, weekends or during holidays – that means it doesn’t have to interfere with your day job.
Sports. If you are a sports lover and you have adequate experience in a particular sport, you can be an umpire, coach or a trainor. You can conduct a small sports camp every summer to teach children in your neighborhood about the sport that you know.
Animal care. If you are an animal lover, you can offer to care for pets. If you have a sizable backyard and you can set it up as a pet hotel, you can take in boarders for pet owners who will go on a lengthy travel.
Cooking/Baking. If you have a knack for cooking, you can teach others your dishes, be a small time caterer for small events or you can sell your food in weekend markets.
These are only a few of the hobbies that you can use to earn extra money. You just have to be creative about it and you can find great way to grow your income without it feeling like work.