#32 Cash in on Fun: Talking Hobbies

Emily and Amanda dive into financial planning of hobbies this episode. Working with clients, we've found that a lot of people don't budget for their hobbies, despite them being one of the most joyful parts of their life. Then Emily and Amanda discuss when a hobby turns into a business and potential tax consequences.

Additional resources:

• Twitter Budget Talk
• An explanation of PinkyDoll that Amanda mentioned in the episode: In latest TikTok fad, creators make big bucks off "NPC streaming".
• Here's how to tell the difference between a hobby and a business for tax purposes.