Side Hustle Statistics for Millennials and Gen Z (2024)

Are you looking to boost your income and gain personal freedom? You’re not alone! Side hustles have become a thriving industry, with millions of Americans joining the gig economy to earn extra cash and pursue their passions. In this article, we’ll explore the side hustle statistics, gig economy trends, and the impact of side gigs on personal well-being. So, let’s dive in and uncover the fascinating world of side hustles!

Key Takeaways:

• Over one-third of Americans have a side hustle, contributing to a side hustle market valued at over $2.58 trillion in the United States.
• Millennials and Gen Z are the most likely generations to have a side hustle, driven by the desire for extra income and personal freedom.
• Men are slightly more likely to have a side hustle than women, and higher-income earners and more educated people are most likely to have a side hustle.
• The average side hustle earns an extra $12,689 per year or approximately $1,122 per month, providing a significant boost to overall income.
• Popular side hustle industries include online businesses, freelancing, e-commerce, investing, and gig economy jobs like Uber.

The State of Side Hustles

Side hustles have become a prominent fixture in today’s economy, providing millions of individuals with extra streams of income and a pathway to financial freedom. The side hustle industry is valued at a staggering $2.58 trillion, illustrating its significant impact and growth potential. With more than one-third of Americans engaging in side hustles, it is evident that this trend is here to stay.

Millennials and Gen Z make up a significant portion of the side hustle industry, leveraging their entrepreneurial spirit and technological prowess to explore new opportunities for earning. These generations are more likely to start a new side hustle, using platforms like freelancing websites, e-commerce platforms, and social media to showcase their skills and monetize their passions.

Side hustles offer a multitude of benefits, ranging from additional income to personal freedom. They provide individuals with the flexibility to pursue their interests, balance work and home life, and build a diversified income portfolio. Moreover, side hustles contribute to the growth of the gig economy, fostering innovation and creating new opportunities for workers in various industries.

“Side hustles have become a vital part of our economic landscape, empowering individuals to take control of their financial destinies and tap into their creative potential.”

The Side Hustle Market Analysis

To further understand the dynamics of the side hustle industry, let’s take a closer look at some key stats and insights:

Statistic	Insight
Number of Americans with a side hustle	Over one-third of Americans engage in side hustles, highlighting its widespread popularity.
Valuation of the side hustle industry	The industry is valued at $2.58 trillion, representing a substantial economic force.
Growth forecast	The side hustle industry is projected to continue expanding in the coming years, driven by evolving market demands and technological advancements.
Millennials and Gen Z representation	These generations comprise a significant share of the side hustle industry, seizing entrepreneurial opportunities and capitalizing on digital platforms.

With such remarkable figures, it is evident that side hustles are not just a passing trend but a significant player in the modern economy. The allure of earning additional income and gaining personal freedom continues to draw individuals into the side hustle market.

In the next section, we will explore the demographics of side hustlers, shedding light on the various factors that influence their engagement in this thriving industry.

Side Hustle Demographics

When it comes to side hustles, there are interesting demographic trends to consider. Let’s explore the side hustle statistics by gender and age.

Gender

Men are slightly more likely to have a side hustle than women. According to recent data, 44% of men and 37% of women participate in the side hustle industry. This slight difference highlights the appeal and financial opportunities that side hustles provide for both genders.

Age

Millennials and Gen Z are leading the way in the side hustle industry. These younger generations make up a significant portion of side hustlers, with their entrepreneurial spirit and drive to create additional income streams. Microsoft’s Work Trend Index reveals that an astounding 70% of Gen Z and 57% of Millennials plan to pursue a side hustle in the near future.

Interestingly, side hustlers between the ages of 55-64 tend to outearn other age groups. This age demographic demonstrates a strong commitment to growing their side businesses and earns an average of $1,061 per month from their side hustles. It’s inspiring to see that side hustling can be a successful endeavor for individuals at any stage of their career.

Motivations for Side Hustling

When it comes to side hustling, there are many motivations that drive individuals to start their own ventures. From earning extra cash to pursuing passions, the reasons for starting a side hustle are diverse and personal. In fact, a recent survey conducted by Vistaprint revealed some interesting insights into the motivations behind side hustling.

Personal Freedom

One of the biggest motivators for starting a side hustle is the desire for personal freedom. Many individuals choose to pursue a side gig in order to have more control over their time and schedule. Whether it’s to spend more time with family, pursue hobbies, or have the flexibility to travel, side hustles provide the opportunity to prioritize personal needs and aspirations.

Additional Income

Another common motivation for side hustling is the desire to earn extra income. With the rising cost of living and inflationary pressures, many individuals turn to side gigs to supplement their primary source of income. Whether it’s to pay off debt, save for a specific goal, or simply improve financial stability, the additional income generated from a side hustle can make a significant difference.

Pursuing Passions

For some, starting a side hustle is all about pursuing passions and hobbies. Side gigs offer a creative outlet and a chance to do what one loves outside of their regular job. Whether it’s starting a blog, selling handmade crafts, or offering services in a field of interest, side hustles allow individuals to follow their passions and turn them into profitable ventures.

“Side hustles provide a platform for individuals to explore their passions, gain financial stability, and achieve personal fulfillment.”

The motivations for side hustling can also be influenced by changing priorities and circumstances. Some individuals may start a side gig as a result of a change in career direction or a desire to explore a new industry. Others may be motivated by the prospect of building something of their own or escaping the constraints of traditional employment.

Overall, the motivations for side hustling are as diverse as the individuals pursuing them. Whether it’s personal freedom, extra income, pursuing passions, or a combination of factors, side hustles provide a platform for individuals to explore their motivations and create opportunities for themselves.

Through a survey conducted by Vistaprint, the following motivations for starting a side hustle were identified:

Motivation	Percentage of Respondents
Personal Freedom	38.7%
Additional Income	27.4%
Pursuing Passions	22.8%
Changing Priorities	11.1%

Side Hustle Income

When it comes to side hustle income, the numbers can vary greatly. On average, a side hustle can earn you an extra $12,689 per year, which roughly translates to around $1,122 per month. However, it’s important to note that these figures reflect the average, and individual earnings can differ significantly depending on the nature of the side gig.

While the average side hustle income may seem promising, it’s crucial to understand that the median income for side hustles is much lower, at just $200 per month. This suggests that a significant number of side hustlers earn less than $500 per month from their additional endeavors.

Highest-Paying Side Hustles

Although most side hustlers fall within the lower income bracket, there are individuals who have managed to turn their side gigs into lucrative ventures, making $10,000 or more per month. The highest-paying side hustles typically involve online businesses, freelancing, and investing.

“The key to high earnings from a side hustle lies in finding opportunities that align with your skills, passions, and market demand. By leveraging your expertise and embracing modern opportunities like the gig economy and online platforms, you can maximize your earnings potential.”

Side Hustle Income Distribution

To provide a clearer picture of the side hustle income landscape, here’s a breakdown of the distribution:

Earnings Range	Percentage of Side Hustlers
$0 – $500 per month	67%
$501 – $1,000 per month	18%
$1,001 – $5,000 per month	11%
Above $5,000 per month	4%

As the table illustrates, the majority of side hustlers fall into the lower income brackets, with 67% earning less than $500 per month. However, there are still notable percentages of side hustlers who manage to earn between $501 and $5,000 per month.

Side Hustle Time Commitment

When it comes to side hustles, finding the right balance between work, personal life, and your entrepreneurial pursuits is key. As a side hustler myself, I understand the importance of managing your time effectively to make the most of your side gig.

Most side hustlers dedicate anywhere from 5 to 20 hours a week to their side gigs, depending on their availability and personal commitments. On average, side hustlers spend around 11 to 16 hours per week on their ventures.

Since many side hustlers have full-time jobs during the day, they often work on their side gigs in the evenings after their regular work hours. In fact, 59% of side hustlers spend their time on side gigs in the evenings from 5 to 9 pm.

However, everyone’s schedule and preferences are different. Some side hustlers may choose to dedicate time on weekends or early mornings to work on their side ventures. It all depends on what works best for you and your unique circumstances.

Balancing my side hustle with my full-time job is all about effective time management. I prioritize my tasks, set specific time blocks for my side gig, and ensure I have a clear schedule to avoid burnout.”

It’s important to remember that finding the right time commitment for your side hustle is a personal journey. You need to consider your work hours, personal commitments, and energy levels to determine how much time you can realistically dedicate to your side gig.

By managing your time wisely and creating a schedule that works for you, you can maximize your productivity and achieve success in your side hustle.

Here are a few tips to help you manage your time effectively:

• Set specific goals and prioritize your tasks to stay focused.
• Create a schedule that includes dedicated time for your side hustle.
• Utilize time management techniques like the Pomodoro Technique or time blocking.
• Delegate tasks or outsource when necessary to free up your time.
• Take breaks and prioritize self-care to avoid burnout.

Remember, your side hustle is a passion project that should bring you joy and fulfillment. By effectively managing your time and finding the right balance, you can turn your side gig into a successful venture without sacrificing your personal life and well-being.

Popular Side Hustles

Looking for some inspiration for your side hustle? Here are some of the most popular and common side hustles that people are pursuing:

1. Online businesses: This includes blogging and affiliate marketing, where individuals create content and earn money through partnerships with brands or advertising revenue.
2. Freelancing and consulting: Many individuals offer their services in various fields such as graphic design, writing, marketing, or consulting on a freelance basis.
3. E-commerce: Setting up an online store and selling products or services has become a popular side hustle option.
4. Investing: Some side hustlers choose to invest their money in stocks, real estate, or other financial ventures to generate additional income.
5. Self-publishing: Writing and self-publishing books or e-books has become an increasingly popular side hustle, thanks to platforms like Amazon Kindle Direct Publishing.
6. Local services: Many people offer their skills locally, such as pet sitting, gardening, or house cleaning, to earn extra income.
7. YouTube content creation: Creating and sharing videos on platforms like YouTube has become a lucrative side hustle for those who can build an audience.
8. Software or app development: Side hustlers with programming or coding skills can develop software or mobile applications for clients.
9. Gig economy jobs: Platforms like Uber, Lyft, or TaskRabbit offer opportunities for individuals to earn money by providing services on a flexible schedule.

While these are some of the most popular side hustles, keep in mind that there are countless other options depending on your skills, interests, and resources. Personal creativity and resourcefulness often open up new side gig industries.

As you can see, online and social media work is one of the most popular types of side hustles, making up 16% of the side hustle industry.

Side Hustle Challenges

Starting and maintaining a side hustle can be both rewarding and challenging. While the idea of earning extra income and pursuing your passions is enticing, there are common obstacles that side hustlers often face. Understanding these challenges can help you navigate through them and increase your chances of success.

1. Growing Your Business

One of the biggest challenges for side hustlers is growing their business. It takes time, effort, and strategic planning to attract customers, build a client base, and generate consistent income. The key is to develop effective marketing and growth strategies that align with your target audience.

2. Limited Time

Time management is crucial when it comes to side hustles. Balancing your full-time job, personal life, and other responsibilities can be demanding, leaving you with limited time to dedicate to your side gig. Finding ways to prioritize and optimize your time effectively is essential for achieving your goals.

3. Coming up with the Right Business Ideas

Choosing the right business idea for your side hustle can be challenging. It requires careful consideration of your skills, interests, market demand, and competition. Conducting market research and seeking feedback from potential customers can help you identify profitable opportunities and create a unique proposition.

4. Marketing and Growth

Marketing and promoting your side hustle can be a hurdle for many. Building brand awareness, reaching your target audience, and standing out from competitors can be daunting. Developing a strong marketing strategy, leveraging social media platforms, and networking with other professionals in your industry can significantly contribute to your growth.

5. Mindset Issues

Side hustling requires resilience, determination, and a positive mindset. It’s common to face self-doubt, fear of failure, and burnout along the way. Cultivating a growth mindset, setting realistic expectations, and seeking support from like-minded individuals can help you overcome these challenges and stay motivated.

6. Administrative Tasks

Running a side hustle involves administrative tasks such as bookkeeping, invoicing, and customer management. These tasks can be time-consuming and take away from focusing on the core aspects of your business. Streamlining your processes, utilizing productivity tools, and outsourcing certain tasks can alleviate the administrative burden.

7. Lack of Startup Funds

Many side hustles require some initial investment to get started. Limited access to capital can be a significant obstacle for aspiring side hustlers. Exploring low-cost or free business ideas, saving money, and seeking alternative funding options such as crowdfunding or microloans can help you overcome this challenge.

By acknowledging these common side hustle challenges and implementing effective strategies to overcome them, you can position yourself for success and maximize the potential of your side gig.

Challenge	Description
Growing Your Business	Attracting customers, building a client base, and generating consistent income.
Limited Time	Managing time effectively and balancing multiple responsibilities.
Coming up with the Right Business Ideas	Selecting a profitable and unique business idea that aligns with your skills and market demand.
Marketing and Growth	Promoting your side hustle, reaching your target audience, and standing out from competitors.
Mindset Issues	Overcoming self-doubt, fear of failure, and burnout to maintain a positive mindset.
Administrative Tasks	Managing bookkeeping, invoicing, and customer management efficiently.
Lack of Startup Funds	Overcoming limited access to capital by exploring low-cost business ideas or seeking alternative funding options.

Impact of Side Hustles on Full-Time Jobs

Having a side hustle can actually have a positive impact on performance in a full-time job, according to research. Multiple studies have shown that side hustles can empower employees and enhance their performance in their primary employment. It’s important to note, however, that some companies have policies prohibiting employees from starting side businesses.

The University of Iowa conducted a study that found having a side hustle can significantly improve job performance. The study revealed that individuals with side hustles demonstrated increased motivation, creativity, and problem-solving skills, which positively influenced their work in their full-time jobs. Engaging in a side hustle can provide individuals with a sense of fulfillment and autonomy, contributing to their overall job satisfaction and productivity.

The Side Hustle-Full-Time Job Balance

Maintaining a balance between a side hustle and a full-time job is crucial to prevent burnout and ensure overall well-being. Successfully managing both commitments requires effective time management skills and clear priorities.

“Balance is key when it comes to managing a side hustle and a full-time job. It’s important to establish boundaries, set realistic goals, and prioritize tasks. Finding the right balance allows individuals to pursue their passions and earn extra income, while still excelling in their primary employment.”

It’s essential to assess personal capacity and consider factors such as available time, energy levels, and overall workload. Open communication with an employer about the side hustle can also contribute to a healthy work-life balance, ensuring that both commitments are fulfilled without compromising job performance. By managing time effectively and maintaining a balanced approach, individuals can successfully navigate the challenges and reap the rewards of a side hustle alongside their full-time job.

Effects of Side Hustles

Engaging in a side hustle can have various effects on individuals, both personally and professionally. The additional income generated from a side hustle can improve financial stability, support financial goals, and provide a safety net for unexpected expenses.

On a personal level, side hustles can offer individuals a sense of fulfillment, purpose, and autonomy. Pursuing a passion or hobby through a side hustle can provide a creative outlet and enhance personal well-being. Side hustles can also contribute to personal growth, skill development, and networking opportunities, expanding one’s professional network and opening doors to new possibilities.

While side hustles can bring numerous benefits, it’s important to carefully consider the impact on mental and physical well-being. Balancing multiple commitments can sometimes lead to increased stress and fatigue. Employing effective stress management techniques, setting realistic goals, and prioritizing self-care are crucial for maintaining a healthy balance and ensuring overall well-being.

Side Hustle Trends and Outlook

Side hustles have become a popular and growing trend, driven by various factors such as the desire for extra income and economic necessity. As the gig economy continues to expand, side hustles are expected to play a significant role in the future of work.

According to industry forecasts, the side hustle market is projected to continue its growth trajectory, with more and more people planning to start a side gig in the coming years. This trend can be attributed to the increasing awareness and accessibility of side hustles, along with the rise of digital platforms that connect individuals with opportunities.

Currently, over one-third of Americans have a side hustle, and this number is expected to rise. In fact, the gig and side job economy within the United States is projected to reach over 50% of the workforce soon, highlighting the strong demand for flexible work arrangements and additional income streams.

Side hustles offer individuals the opportunity to pursue their passions and monetize their skills outside of traditional employment. They provide a pathway to personal freedom and financial stability, allowing people to take control of their careers and reach their goals.

As the side hustle market continues to evolve, we can expect to see a shift in the types of side hustles that dominate the industry. Emerging trends indicate a growing interest in online businesses, e-commerce ventures, and content creation platforms. These opportunities leverage the power of technology and the internet to create scalable and profitable side hustles.

The Future of Side Hustles:

“Side hustles have become a transformative force in the way people work and earn income. They offer individuals the flexibility to pursue their passions and create opportunities for themselves in an ever-evolving job market. The future of side hustles holds immense potential for personal and financial growth.”

As side hustles become more mainstream, governments and organizations are recognizing the importance of providing support and resources for side hustlers. New policies and initiatives are being developed to ensure fair wages, benefits, and protections for those engaged in the gig economy.

In summary, side hustles are not just a passing trend but a significant shift in the way people work and earn income. The future of side hustles is promising, with increasing opportunities, evolving business models, and a growing number of individuals embracing this flexible and entrepreneurial approach to work.

Key Highlights:	Statistics/Insights:
Percentage of Americans with a side hustle	Over one-third
Projected percentage of the US workforce participating in the gig and side job economy	Over 50%
Popular side hustle industries	Online businesses, e-commerce, content creation
Future side hustle trends	Increase in online businesses and content creation platforms

Side Hustle Impact on Personal Well-Being

Engaging in side hustles can have a profound impact on personal well-being. Many side hustlers, including myself, have discovered a sense of happiness and improved mental health through these endeavors. Working independently allows us to experience flexibility and freedom, leading to greater satisfaction in achieving a well-balanced work-life routine.

One of the key benefits of side hustles is the fulfillment they provide. By pursuing our passions and interests outside of our main jobs, we find a deeper sense of purpose. This sense of fulfillment gives us the motivation to push through challenges and keep going. It’s incredible how a side gig can ignite our creativity and bring a newfound zest to our lives.

Through my side hustle journey, I’ve experienced a renewed sense of autonomy. The ability to work on something I’m truly passionate about has allowed me to take control of my own destiny and shape my career. This autonomy has significantly boosted my self-confidence and overall well-being.

Moreover, side hustles can positively impact our mental health. By engaging in activities that we genuinely enjoy and find fulfilling, we often experience a reduction in stress levels. This reduction in stress, coupled with the sense of accomplishment from making progress in our side gigs, contributes to improved overall mental well-being.

From my personal experience, successfully managing a side hustle has shown me that I am capable of juggling multiple responsibilities and taking on new challenges. This newfound confidence has spilled over into other areas of my life, allowing me to approach my full-time job and personal relationships with a greater sense of self-belief.

It’s important to remember that side hustles are not only about financial gain. While they can certainly provide an additional income stream, their impact goes beyond monetary rewards. Side hustles offer a unique opportunity to explore our passions, enhance our skills, and build a supportive community.

Benefits of Side Hustles on Personal Well-Being
Increased happiness and improved mental health
Greater flexibility and work-life balance satisfaction
Enhanced sense of fulfillment, purpose, and autonomy
Reduced stress levels
Boosted self-confidence and personal growth
Opportunity to explore passions and build new skills
Formation of a supportive community

Embracing a side hustle can be transformational, both personally and professionally. The positive impact on well-being, combined with the potential for additional income, makes side gigs an appealing option for individuals looking to diversify their income streams and pursue their passions.

Side Hustles and the Creator Economy

The creator economy plays a significant role in the side hustle industry, with over half of content creators earning money through side gigs. Platforms like YouTube, blogging, podcasting, and social media provide opportunities for individuals to monetize their content and generate additional income.

Part-time independent creators make up the highest percentage of side hustlers in the creator economy. These creators devote their spare time to producing and sharing original content, whether it’s creating YouTube videos, writing blog posts, or hosting a podcast.

The flexibility of the creator economy allows individuals to balance their side hustle with other commitments, such as a full-time job or personal obligations. By leveraging their skills and creative talents, part-time independent creators have the opportunity to turn their passions into profitable side ventures.

Popular Side Hustles in the Creator Economy
1. YouTube content creation
2. Blogging
3. Podcasting
4. Social media influencing

These popular side hustles within the creator economy allow individuals to showcase their expertise, connect with an audience, and earn income through sponsorships, advertisements, and product promotions.

The Impact of Side Hustles on the Creator Economy

Side hustles have transformed the creator economy by providing individuals with additional streams of income. Many content creators rely on their side hustles to support their passion projects and invest in equipment, software, and other resources to enhance their content creation process.

Side hustles have opened doors for creators to follow their dreams and create content on their terms, while still maintaining financial stability.

Moreover, side hustles can also serve as a valuable stepping stone for creators looking to transition to full-time entrepreneurship in the creator economy. By building their brand and audience through their side hustle, creators can gain the necessary experience, connections, and confidence to take their passion to the next level.

In conclusion, the creator economy offers exciting opportunities for part-time independent creators to monetize their passions and turn their hobbies into lucrative side hustles. As this industry continues to evolve, side hustles in the creator economy will play an increasingly vital role in shaping the future of work and the gig economy.

Automation in Side Hustles

As a side hustler, I understand the importance of finding efficient ways to manage my business. That’s why I, like many others, have embraced automation to streamline my operations and save valuable time. Automation is a game-changer when it comes to running a side gig effectively.

Did you know that two-thirds of side hustlers automate some of their business processes? It’s true! According to a recent survey, nearly half of the respondents automate at least half of their side hustle, and 14% have managed to fully automate their business.

Automation brings numerous benefits to side hustlers. By automating repetitive and time-consuming tasks, we can focus on what truly matters – growing our businesses and pursuing our passions. Whether it’s automating email marketing campaigns, inventory management, or social media scheduling, automation helps us work smarter, not harder.

Imagine having more time to devote to your creative projects or acquiring new clients, all while knowing that important aspects of your business are running smoothly in the background. That’s the power of automation in side hustles.

The Benefits of Side Hustle Automation:

• Time-saving: Automation frees up valuable time, allowing side hustlers to be more productive and efficient.
• Increased productivity: By automating repetitive tasks, side hustlers can focus on higher-value activities, such as strategy development or customer acquisition.
• Consistency: Automated processes ensure consistency in delivering products or services, which builds trust and loyalty among customers.
• Scalability: With automation in place, it becomes easier to scale a side hustle and handle increased demand without compromising quality.
• Reduced errors: Manual tasks are prone to errors, but automation minimizes the risk of mistakes, ensuring accuracy and reliability.

Automation has become an essential tool in the arsenal of successful side hustlers. It’s a game-changer that allows us to work smarter, not harder, and make the most of our limited time resources.

Conclusion

Side hustles have become a popular and lucrative way to earn extra income and pursue passions. They offer individuals the opportunity to gain personal freedom, improve financial stability, and contribute to the gig economy. With millions of Americans participating in side gigs, side hustle statistics show a growing trend that shows no signs of slowing down.

The future of side hustles looks promising, with more people planning to start a side hustle in the coming years. This growing interest is driven by various factors, including the desire for extra income, the need for flexibility, and the appeal of pursuing one’s passions. Side hustles have become an essential part of the modern work landscape, allowing individuals to create their own opportunities and take control of their financial future.

Having a side hustle can provide individuals with a fulfilling and profitable means of earning extra income. By leveraging their skills, passions, and resources, side hustlers can create successful ventures that not only supplement their main income but also open up new avenues for personal and professional growth. With the right motivations, dedication, and strategies, side hustles can be a valuable asset on the journey to financial independence.

Whether it’s starting an online business, freelancing, or investing, the possibilities for side hustles are endless. By tapping into the gig economy and embracing the entrepreneurial spirit, individuals can unlock new sources of income and discover a sense of fulfillment in their work. So, if you’re looking to boost your income, explore your passions, or simply gain more control over your financial future, a side hustle might be just what you need.

FAQ

What is a side hustle?

A side hustle is a part-time job or business that individuals engage in alongside their main source of income to earn extra money.

How many Americans have side hustles?

Over one-third of Americans have a side hustle, according to various sources.

How much is the side hustle industry valued at in the United States?

The side hustle industry is valued at over .58 trillion in the United States.

Who is most likely to have a side hustle?

Millennials and Gen Z are the most likely generations to have a side hustle.

Why do people start side hustles?

The majority of side hustlers start a side gig to earn extra income and gain personal freedom.

Are men or women more likely to have a side hustle?

Men are slightly more likely to have a side hustle than women, with 44% of men and 37% of women participating in the side hustle industry.

What are the most popular side hustles?

The most popular side hustles include online businesses (blogging, affiliate marketing), freelancing and consulting, e-commerce, investing, self-publishing, local services, YouTube content creation, software or app development, and gig economy jobs like Uber.

What are the biggest challenges for side hustlers?

The biggest challenges reported by side hustlers include growing their business, limited time, coming up with the right business ideas, marketing and growth, mindset issues, administrative tasks, and lack of startup funds.

Do side hustles have an impact on full-time jobs?

Research suggests that having a side hustle can boost performance on a full-time job in most cases, and it can have a positive impact on job performance.

How much income do side hustlers earn?

The average side hustle earns an extra ,689 per year or approximately

FAQ

What is a side hustle?

A side hustle is a part-time job or business that individuals engage in alongside their main source of income to earn extra money.

How many Americans have side hustles?

Over one-third of Americans have a side hustle, according to various sources.

How much is the side hustle industry valued at in the United States?

The side hustle industry is valued at over $2.58 trillion in the United States.

Who is most likely to have a side hustle?

Millennials and Gen Z are the most likely generations to have a side hustle.

Why do people start side hustles?

The majority of side hustlers start a side gig to earn extra income and gain personal freedom.

Are men or women more likely to have a side hustle?

Men are slightly more likely to have a side hustle than women, with 44% of men and 37% of women participating in the side hustle industry.

What are the most popular side hustles?

The most popular side hustles include online businesses (blogging, affiliate marketing), freelancing and consulting, e-commerce, investing, self-publishing, local services, YouTube content creation, software or app development, and gig economy jobs like Uber.

What are the biggest challenges for side hustlers?

The biggest challenges reported by side hustlers include growing their business, limited time, coming up with the right business ideas, marketing and growth, mindset issues, administrative tasks, and lack of startup funds.

Do side hustles have an impact on full-time jobs?

Research suggests that having a side hustle can boost performance on a full-time job in most cases, and it can have a positive impact on job performance.

How much income do side hustlers earn?

The average side hustle earns an extra $12,689 per year or approximately $1,122 per month, although the majority of side hustlers earn less than $500 per month.

How much time do side hustlers dedicate to their side gigs?

Most side hustlers devote 5-20 hours a week to their side gig, with an average of 11-16 hours per week.

What is the future of side hustles?

The side hustle market is projected to continue growing, with more people planning to start a side gig in the future.

What is the impact of side hustles on personal well-being?

Side hustles have been found to have a positive impact on personal well-being, with side hustlers reporting increased happiness, flexibility, and satisfaction with their work-life balance.

What is the role of the creator economy in side hustles?

Over half of people who earn money as content creators do it as a side hustle, highlighting the significance of the creator economy in the side hustle industry.

How do side hustlers use automation?

Two-thirds of people with a side hustle automate some of their business processes to save time and increase efficiency.

,122 per month, although the majority of side hustlers earn less than 0 per month.

How much time do side hustlers dedicate to their side gigs?

Most side hustlers devote 5-20 hours a week to their side gig, with an average of 11-16 hours per week.

What is the future of side hustles?

The side hustle market is projected to continue growing, with more people planning to start a side gig in the future.

What is the impact of side hustles on personal well-being?

Side hustles have been found to have a positive impact on personal well-being, with side hustlers reporting increased happiness, flexibility, and satisfaction with their work-life balance.

What is the role of the creator economy in side hustles?

Over half of people who earn money as content creators do it as a side hustle, highlighting the significance of the creator economy in the side hustle industry.

How do side hustlers use automation?

Two-thirds of people with a side hustle automate some of their business processes to save time and increase efficiency.

Our Friends

• https://millennialmoney.com/side-hustle-statistics/
• https://www.luisazhou.com/blog/side-hustle-statistics/
• https://www.sidehustlenation.com/side-hustle-statistics/