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Students about to start graduate jobs may want to take up a hobby that they can make money out of, as a report shows that 20 per cent of workers in the UK are making extra money out of their past time.

The research, conducted by National Savings and Investments (NS&I) revealed that almost four in ten people admitted that they had used work time to make money out of their hobby.

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."

He added that a few pounds a 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".

People who earn money from their hobbies make £3,511 a year after tax, which increases their annual income by a fifth, according to the report.

NS&I provides people with a totally secure place for people to save and is backed by the government.

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