10 hobbies that could save (and make) you money in 2024
New hobbies don't always have to mean new expenses. Many hobbies are both affordable, and can turn into profit with practice
This side hustle is helping small businesses make extra cash to beat inflation
It's no secret inflation is hurting small businesses across the country. Small business owners are finding creative ways to make additional revenue.
Saving money is a New Year's resolution for many, but finding ways to save can be difficult.
When it comes to saving money, you have two main options: Lower your expenses or increase your income.
The money-saving hobbies below can potentially do a bit of both. They will help you save, as well as be an additional avenue of income if you so choose. Try out these hobbies to put money back in your pocket.
Certain hobbies can turn out to be quite profitable. (iStock / iStock)
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- Start a garden
- Learn how to make bread
- Start knitting, crocheting or simple blanket tying
- Start your own blog
- Launch a YouTube channel
- Take up photography
- Get your finances in order
- DIY candles
- Set yourself up with a reading challenge
- Learn to cook
1. Start a garden
You will enjoy so many benefits from a backyard garden. You'll have fresh fruits, vegetables and herbs to add to your meals, and it is a hobby that will keep you busy.
You don't need a ton of space to start a garden. You can begin with herbs if you only have a small area to work with.
If you do have a larger space at your disposal and begin to get an overflow of product, you can sell your fresh fruits and vegetables for extra cash.
You will also save money by not having to purchase your produce at the store.
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Start a garden to grow your own fresh produce instead of buying it at the store. (Brooks Kraft LLC/Corbis via Getty Images / Getty Images)
2. Learn how to make bread
There is nothing better than a fresh loaf of bread. Being able to make products like sandwich bread and bagels yourself will save you money as you can take those things off your weekly grocery list.
There are many breads that are very beginner-friendly, like a classic loaf of sandwich bread, while others, like sourdough, are a bit more complicated.
Once you get comfortable making bread, you can sell it for profit.
3. Start knitting, crocheting or simple blanket tying
Knitting or crocheting can be a very relaxing hobby once you get the basics down.
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Knitting can be a very relaxing activity to do at the end of the night. (H. Armstrong Roberts/ClassicStock/Getty Images / Getty Images)
This practical hobby will result in lots of accessories and clothing you can keep, gift and sell.
Blanket tying is an easy way to make homemade products. By looping yarn together, you can create a beautiful knit blanket with no needles required.
4. Start your own blog
If you have a passion for writing, begin your own blog. This can serve as a great creative outlet for you, as well as help other people.
Once you consistently post for long enough, your blog could become a side hustle.
5. Launch a YouTube channel
A YouTube channel can be a fun way to express yourself and push your creative boundaries.
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Posting content on social media can turn out to be an extra source of income if done consistently. (Reuters/Dado Ruvic/Illustration//File Photo / Reuters Photos)
You don't need anything fancy or expensive to get started with this hobby. An iPhone will do the trick.
Pick a niche you want to focus on and start making videos that fall under that genre.
You will have the potential to make money through your channel once you grow your following.
6. Take up photography
If you are just getting started on your photography journey, there is no need to immediately go out and buy an expensive camera.
Photography is a great hobby that can later turn into a side hustle. (Robert Alexander/Getty Images / Getty Images)
If it ends up being something you really enjoy, buying equipment is an option down the line. To start, an old camera you have lying around or your phone is perfect to get you started.
You can share your work with others on Instagram. Once you really start to perfect the craft, you can offer your services to others.
7. Get your finances in order
Finance may not seem like a hobby, but it can be, and a very helpful one.
There are many different aspects of finance, from simple budgeting to investing. Having a handle on your finances can be extremely beneficial to you and your future.
If you are a beginner trying to get a handle on your finances, but you don't really know where to start, books are a great beginning point.
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Starting smart money habits now can help your finances in the future. (iStock / iStock)
There are lots of easy to read finance books out there that you can teach you the basics of budgeting as well as beginner investment strategies.
8. DIY candles
Candles are expensive, so why not learn how to make your own? Candles are surprisingly easy to make, and you can customize them to match the ambience of your home.
All you need to make your own candles are wax, wicks, fragrance and a jar or bowl to put them in.
If you want to change the color of your candle, you will also need to add dye. Molds are another option if you want to add wax shapes, like flowers to your candle.
The basic process of candle making is sticking your wicks to your jar, melting down your wax, mixing in your fragrance and adding in a color of your choice. Once this is done, all you have to do is carefully pour your wax into your container.
Homemade candles make a great gift for your loved ones, and can also be sold at a local craft fair.
9. Set yourself up with a reading challenge
Books can provide you with a wealth of knowledge and hours of entertainment.
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Set a realistic goal for how many books you would like to read in the month. Keep this going throughout the year. (iStock / iStock)
Set yourself up with a goal of how many books you'd like to read each month. Try to get a good mix of non-fiction and fiction books. Maybe you'll even be inspired to write your own.
You can save money by borrowing books from the library instead of purchasing them from the store. If you prefer to use an E-reader, you can typically still order books from the library for your device.
10. Learn to cook
Take time in the New Year to learn to cook. This will save you loads of money on takeout.
YouTube videos are a great place to start, and can help you learn the basic skills you need to make incredible dishes.