Tips to turn your hobby into extra cash

33% of side hustlers say they need the extra money for day-to-day living expenses
Published: Jul. 10, 2023 at 1:53 PM PDT
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(InvestigateTV) — Nearly 40% of Americans have a side hustle, according to a recent survey by Bankrate, including some who were able to monetize a hobby.

Eventbrite LifeStyle Coordinator Sara Bigham recommended looking at other experts in the field you are considering before you turn your own hobby into cash.

“Eventbrite is a great place to start. You can look at all sorts of creators who are creating cooking classes, tutoring classes, coaching everything in between,” Bigham explained. “Whether or not you’re looking to mirror or do something different, or at least get an idea of how other folks are organizing their flow of their events.”

Eventbrite offers classes and workshops that can teach budding entrepreneurs how to start their own side hustle business, whether it’s teaching cooking classes, coaching tennis, or professional consulting work based on a full-time career.

“Maybe you’re a college student who loves playing guitar in your spare time and wouldn’t mind making a few extra bucks,” Bigham said. “Consider teaching middle schoolers, even high schoolers, the basics from hand placement to different chords.”

Bigham added tutoring gigs are always in demand. From elementary school subjects to advanced high school or college classes, personal expertise and experience could bring in extra income.

She said a new income stream could simply start with a little online searching to learn by example.

The Internal Revenue Service (IRS) has guidelines for those looking to turn hobbies into small businesses.

The Small Business Administration (SBA) also has abundant resources to help those wanting to start their own business.