Author Topic: Monetizing my hobbies has backfired....  (Read 1827 times)

NorthernDreamer

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Monetizing my hobbies has backfired....
« on: January 15, 2018, 01:07:23 PM »
I have one successful Etsy shop, and will be opening a second one this year. My established shop has over 1000 sales and I make sure I pay myself at least $30 and hour for the work I do. I enjoy it too, which is the best part. I work a part-time day job and am also a mom to two small children under the age of 6. This means I fit my Etsy work into my "down time" - usually, after the kiddos are in bed.

I am now at the point where I don't have to be working like crazy every evening, I have more ready to ship items and have learned to batch process so that I have become more efficient. I am finding, however, that I have a hard time in the evening just relaxing: chatting with my husband, watching a show, making plans with friends, reading. I feel the drive to be doing more on my business 24/7 (probably why I thought opening a second store was a good idea...).

We are 7-10 years from FIRE, and could coast there quite easily based on our current lifestyle and income. I am quite surprised at this realization since I thought I loved leisure time and all that jazz. Maybe this is the creativer/maker mindset of always wanting to try new projects.

Anyone else find that monetizing hobbies makes you feel like everything you do should be making money? I don't want to work myself to the bone on my journey to early retirement. I have learned over the past year that self-care is important - I am just finding it hard.

KelStache

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Re: Monetizing my hobbies has backfired....
« Reply #1 on: January 15, 2018, 01:23:08 PM »
I'm similar, as I always feel the need to use downtime 'productively'. I'd recommend setting yourself a schedule for your business and stick to it strictly. For example, "I work on my Etsy shop Mondays, Wednesdays, and Saturdays from 7-10pm". Once I put a limit on 'productive time' I found ways to fill what was left naturally (reading, yoga, walking, hanging with husband, etc.). Good luck!

lexde

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Re: Monetizing my hobbies has backfired....
« Reply #2 on: January 15, 2018, 01:30:04 PM »
What @Kelstache said is spot on - if this is a hobby, make it a hobby. If it’s a second job, it’s a second job (even if it’s one you enjoy!). As such, you need to set hours for your second job. That way, you have money-making time and separate life-enjoying time. Set boundaries for yourself and it will be easier to turn the “money making” switch on and off.


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SC93

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Re: Monetizing my hobbies has backfired....
« Reply #3 on: January 15, 2018, 04:42:41 PM »
I see it both ways. If you want to set boundaries do. But if you love your 'hobby' and that is what you want to do in your 'down' time then do it. You say you love it so what is the problem if that is what you want to do all the time? But don't let it interfere with the more important things in life. If it starts to get in the way of more important things, then you will need to set some boundaries for sure. On the really bright side.... your hobby MAKES you money. Mine used to cost me a LOT of money, now it just costs a few hundred a month.

ePalmtrees

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Re: Monetizing my hobbies has backfired....
« Reply #4 on: January 17, 2018, 10:53:51 AM »
I have an online business and a 4 year old. I make quite good money but have stepped away from it because it was all-consuming, I never felt like I was doing enough, and I couldn't balance it with enjoying Motherhood and life. I read an article about "ambition addiction" by Benjamin Shalva and realized it completely described me. I'm much happier albeit probably poorer now..

Plina

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Re: Monetizing my hobbies has backfired....
« Reply #5 on: January 20, 2018, 11:24:04 AM »
Have you considered giving up your parttime day job? It would give you more time to run your business as well as time with your family if that is what you want.

NorthernDreamer

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Re: Monetizing my hobbies has backfired....
« Reply #6 on: January 23, 2018, 09:56:31 AM »
Have you considered giving up your parttime day job? It would give you more time to run your business as well as time with your family if that is what you want.

Unfortunately that is not going to happen until we reach FI. My day job is a sweet gig with flexibility, pension and benefits. Plus, I don't mind it most days.

I have an online business and a 4 year old. I make quite good money but have stepped away from it because it was all-consuming, I never felt like I was doing enough, and I couldn't balance it with enjoying Motherhood and life. I read an article about "ambition addiction" by Benjamin Shalva and realized it completely described me. I'm much happier albeit probably poorer now..

I am going to find out more about "ambition addiction". Though I can't help but feel there just needs to be some balance...

I'm similar, as I always feel the need to use downtime 'productively'. I'd recommend setting yourself a schedule for your business and stick to it strictly. For example, "I work on my Etsy shop Mondays, Wednesdays, and Saturdays from 7-10pm". Once I put a limit on 'productive time' I found ways to fill what was left naturally (reading, yoga, walking, hanging with husband, etc.). Good luck!

What @KelStache said is spot on - if this is a hobby, make it a hobby. If it’s a second job, it’s a second job (even if it’s one you enjoy!). As such, you need to set hours for your second job. That way, you have money-making time and separate life-enjoying time. Set boundaries for yourself and it will be easier to turn the “money making” switch on and off.


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Setting work hours is a great idea. I do find comparing myself to the "maker community" I am a part of (on social media) definitely drives the moreMOREMORE mindset. I do see people making livings out of what they do, and glamorizing the hustle, but I need to remember that their goals are not mine and many of them don't have a day job and/or small children to tend to.

I appreciate all of your thoughtful comments :)

Bicycle_B

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Re: Monetizing my hobbies has backfired....
« Reply #7 on: January 23, 2018, 02:08:45 PM »
NorthernDreamer, good luck in finding your balance.  Sounds like you're on the right track.  Maybe you're already working on the skills (such as balance!) you'll need to enjoy FI.  So at least that's a value you're getting from the current effort.

maglomanic

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Re: Monetizing my hobbies has backfired....
« Reply #8 on: January 23, 2018, 08:36:36 PM »
I've been trying to get my art to make me money for a while. I have another job and I work on my "business" when I can. I write down my hours to let me know how much time I spent working on art. If I have a day off I tend to find that I'm motivated early in the day when I have energy. I'll work on something for maybe 6 hours and by the end of the day (if my hand isn't hurting too much from holding a pencil/paint brush/ink pen) I'll relax by watching Netflix, exercise, or play video games. This schedule works out well for me. But I don't have kids so I can pretty much do what I want besides having to do house hold chores. My business is currently at -$117.42 lol. I have one sale on etsy! I have fun doing it though. I definitely think it helps to keep track of the money I spend on this hobby, It really helps prevent me from buying things I don't need. Good luck with your business! I hope to achieve a percent of what you have one day :3