Isn't it everyone's dream to take a hobby, something you love to do, and start making money from it? While you'll probably not make millions doing so, you can add some additional income (which you can use to pay down debts or save).
I found an old article (two years old, but still valid) at Entrepreneur that claims, "Whether your passion is pottery, painting or playing video games, there's money to be made from your hobby." Here's the opening paragraph:
"Spending your free time gardening, restoring classic cars or collecting antique jewelry can be a joy, right? It's the thing that renews your passion, the thing that makes you feel that all is right with the world. Wouldn't it be great to find a way to make money doing what you love? Turning your treasured hobby into a business will take hard work and a truckload of creativity, but the rewards are endless. You'll be doing what you love--and getting paid for it."
Check out this article and think about how your hobby might become part of a Principle 1 plan for your finances.
Update: Time to post to the Beltway Traffic Jam.
This has become even easier with the monetization of blogs. Write a blog about something you're passionate about, throw on a few google ads, and you'll be rich!
Posted by: jim | May 27, 2005 at 09:47 AM
Collecting is a good example. You buy in big lots, and sell the spares on ebay individually.
Posted by: Jose | June 01, 2005 at 05:40 PM
This method is a great way to start a business. You are much more likely to stick with it when its something your passionate about and would already do for free.
Posted by: Pragmatic Finance | May 27, 2006 at 11:51 AM
If you are into sports, try refereeing that sport for cash. Great way to get in shape and make some extra money.
Posted by: Ethan | June 19, 2006 at 11:05 AM
I do woodwork and what to know how to sell them.
Posted by: Armand L. Pelletier | March 02, 2009 at 04:10 PM