SIDE GIG INCOME, Accordingly to New Survey

 

According to a recent survey by Quicken, a personal finance software company, 43% of Americans with a side hustle reported making more money and working fewer hours . 

The three most popular side hustles were personal assistance, cooking and baking, and caregiving, with 20%, 16%, and 16% of respondents engaging in these activities, respectively .

 Additionally, 82% of people with side hustles said it helped them financially, and 57% had savings equal to at least four months of living expenses .

Another report by Side Hustle Nation found that 39% of working Americans have a side hustle, which translates to around 80 million people . The report also found that the average side hustle brings in $1,122 a month, but the median income is much lower at $200 a month . However, 35% of side hustlers earn $1,000 or more per month .

It's worth noting that the popularity of side hustles varies by age group, with 50% of millennials and 46% of Gen Z reporting having a side hustle, compared to 24% of baby boomers .

Side gigs :

How many people have a side hustle?

About 39% of working Americans have a side hustle, which translates to around 80 million people.

Why are people side hustling?

The most common reason is to make extra money. However, some people want to learn a new skill or eventually become their own boss.

How much money can you make from a side hustle?

The average side hustle brings in $1,122 a month, but the median income is much lower at $200 a month.

What are the most popular side hustles?

The most popular side hustles include online businesses, e-commerce, freelancing, consulting, investing, quick cash side hustles, local services, self-publishing, and gig economy jobs.

How many hours a week do side hustles take?

The average side hustler spends 11-16 hours a week on their business.

Are side hustles just for low-income earners?

No, nearly 40% of side hustlers have household incomes of $100,000 or more.

Who is side hustling?

Both men and women side hustle at similar rates, with 54% of side hustlers being 18-34 years old.

When did side hustles become popular?

Interest in side hustles increased dramatically since late 2015 and peaked in July 2022.

Do people like their side hustles?

Yes, 76% of side hustlers loved their side hustle.

What are the biggest challenges facing side hustlers?

The biggest challenges are growing their business, dealing with limited time, and coming up with the right side hustle idea.