One in five UK workers boosts their income through a hobby, research has revealed – with many of them doing so on work time.
A survey by government-backed savings bank National Savings and Investments (NS&I) today shows that British workers make a collective £26.5bn every year through out-of-work activities.
Each member of the so-called ‘Play-dough population’ spends an average of 11 hours each week on their money-spinning interests.
Almost four in 10 admit to having used work time to pursue their hobby, while a fifth admit that their interest has affected personal relationships.
Hobby earners bring home an average £3,511 a year after tax through their pastimes, increasing their annual income by roughly a fifth.
Collecting and trading is the most profitable pastime, followed by IT, music, arts and crafts, and writing.
Almost a third of the Play-dough population invests the extra money in savings.
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Dax Harkins, senior savings strategist at NS&I, said: “British people are proving that saving money can be enjoyable when combined with a fun activity or hobby. It is great to see so many people using their initiative to earn some extra money which will help them create a nest egg for the future.
“Even a few pounds each week invested in long-term savings can benefit, particularly as we are seeing an increasing number of people who say they would not have enough in savings to cope in a financial emergency.”
