Summary
- • 54% of Americans have or are interested in having a side hustle
- • The average side hustler earns $1,122 per month
- • 61% of side hustlers started their gig in the last 3 years
- • Millennials are the most likely generation to have a side hustle (40%)
- • 46% of side hustlers spend less than 10 hours per week on their gig
- • 33% of side hustlers use their extra income to pay for regular living expenses
- • Online selling is the most popular side hustle, with 58% of side hustlers engaging in it
- • 37% of Americans with a side hustle need it to make ends meet
- • 50% of side hustlers are motivated by the desire for extra spending money
- • The gig economy is expected to reach $455 billion by 2023
- • 42% of side hustlers are passionate about their gig
- • Gen Z side hustlers earn an average of $2,000 per month from their gigs
- • 24% of Americans plan to start a side hustle in the next 12 months
- • 45% of side hustlers use social media to promote their gig
- • 71% of side hustlers don't want to turn their gig into a full-time job
Have you ever side-eyed the idea of a side hustle? Well, may the statistics be your sidekick in this gig economy adventure. With 54% of Americans dabbling in or eyeing a side hustle, and an average earnings of $1,122 per month, it seems like everyone is hustling on the side. Millennials take the lead with 40% sporting a side hustle cape, while 37% need it to keep the lights on. Online selling reigns supreme, pet-sitters and tutors take a slice of the pie too, and the gig economy is set to hit $455 billion by 2023. So whether youre hustling for passion, pocket money, or just to flex those entrepreneurial muscles, remember — a side hustle a day keeps financial worries away (or at least thats what 33% of hustlers using their extra cash for regular expenses believe)!
Career Aspirations
- 71% of side hustlers don't want to turn their gig into a full-time job
- 53% of side hustlers believe their gig has the potential to become their primary source of income
- 57% of side hustlers believe their gig makes them more employable
- 55% of side hustlers believe their gig has improved their work-life balance
- 47% of side hustlers believe their gig has improved their professional network
- 43% of side hustlers believe their gig has improved their time management skills
Interpretation
Side hustlers walk a delicate tightrope of ambition and balance, with the majority resisting the siren call of full-time entrepreneurship while daring to dream of their gig's ascension to breadwinner status. As they juggle multiple hats, from boosting employability and enhancing work-life harmony to expanding professional connections and mastering time management, these hustlers prove that success is not just about the destination but the thrilling ride along the way. After all, why choose between climbing the corporate ladder and carving out your own path when you can do both simultaneously?
Demographics
- Millennials are the most likely generation to have a side hustle (40%)
- Men are more likely than women to have a side hustle (39% vs. 30%)
- 43% of full-time workers have a side hustle
- 45% of side hustlers have a college degree
Interpretation
In a world where side hustles are the new normal, Millennials lead the charge with a flair for multitasking that puts other generations to shame. While men may have a slight edge in the hustle game, it’s the collective ambition of full-time workers that truly shines through, as nearly half of them juggle side projects alongside their main gigs. And let’s not forget, more than double the national average, 45% of side hustlers hold a prestigious college degree, proving once and for all that success knows no bounds when it comes to hustling on the side.
Financing
- 61% of side hustlers use their personal savings to fund their gig
- The average side hustler spends $111 per month on their gig
Interpretation
In the world of side hustles, it seems that creativity isn't the only thing being tapped into—apparently, personal savings are also fair game. With 61% of side hustlers dipping into their own piggy banks to fuel their gigs, it's clear that passion doesn't always come cheap. And at an average monthly expense of $111, it seems like the hustle is real, both in terms of effort and finances. So, next time you see someone rocking their side gig, just remember, behind that cool façade might be a quietly weeping bank account.
Income Utilization
- 33% of side hustlers use their extra income to pay for regular living expenses
- 37% of Americans with a side hustle need it to make ends meet
- 34% of side hustlers use their extra income to save for a specific goal
- 26% of side hustlers use their extra income to pay off debt
- 29% of side hustlers use their extra income for discretionary spending
- 31% of side hustlers use their extra income to invest
- 25% of side hustlers use their extra income for emergency savings
- 49% of side hustlers believe their gig has made them more financially secure
- 22% of side hustlers use their extra income for retirement savings
- 19% of side hustlers use their extra income to save for a home
- 16% of side hustlers use their extra income to save for their children's education
- 13% of side hustlers use their extra income to save for a vacation
Interpretation
In a world where side hustles have become the unsung heroes of financial stability, the statistics paint a complex picture of modern financial aspirations. At a quick glance, it seems that side hustlers are a diverse bunch – from those using their extra cash to simply survive the month to others strategically saving for retirement or dream vacations. But underneath these numbers lies a common thread of resilience and determination. Whether it's paying off debt, investing for the future, or just treating themselves to a well-deserved splurge, side hustlers are rewriting the rules of financial freedom one gig at a time. So next time you pass someone juggling multiple jobs, remember, they might be one of the 49% feeling a little more financially secure thanks to their hustle.
Income and Earnings
- The average side hustler earns $1,122 per month
- Gen Z side hustlers earn an average of $2,000 per month from their gigs
- The average side hustler earns $686 per month from their primary gig
- The average side hustler earns $24 per hour from their gig
- The average side hustler earns an additional 25% of their primary income from their gig
Interpretation
These side hustle statistics paint a fascinating picture of today's workforce: where the hustle is real and the earnings are varied. From Gen Z's ambitious money-making endeavors to the classic side hustler pulling in extra cash by the hour, it's clear that the modern worker is not content with just one stream of income. The numbers speak volumes - $1,122 here, $686 there, and an extra 25% on the side for good measure. So, whether you're pounding the pavement for that extra dough or hustling it up online, one thing is certain - in the hustle game, every hour counts, and every dollar earned is a victory.
Marketing and Promotion
- 45% of side hustlers use social media to promote their gig
- 38% of side hustlers use word-of-mouth to promote their gig
- 44% of side hustlers use online platforms to find gig opportunities
- 41% of side hustlers use their personal network to find gig opportunities
- 37% of side hustlers use online advertising to promote their gig
- 34% of side hustlers use email marketing to promote their gig
- 31% of side hustlers use content marketing to promote their gig
Interpretation
In the ever-evolving landscape of side hustles, it seems that the modern-day hustler is not shy about getting their gig out there in the digital world. With 45% utilizing the power of social media, 44% scouring online platforms for opportunities, and 37% embracing online advertising, it's clear that this new breed of hustlers knows how to navigate the digital realm. However, let's not overlook the enduring power of good old word-of-mouth, with 38% leveraging the age-old method of personal recommendations. In this bustling marketplace of side gigs, it seems that a combination of digital savvy and good old-fashioned networking is the winning formula for success.
Motivation
- 50% of side hustlers are motivated by the desire for extra spending money
- 42% of side hustlers are passionate about their gig
- 48% of side hustlers started their gig to diversify their income streams
- 36% of side hustlers are motivated by the desire to learn new skills
- 52% of side hustlers believe their gig has improved their quality of life
- 33% of side hustlers are motivated by the flexibility of gig work
- 30% of side hustlers are motivated by the desire to pursue a passion
- 27% of side hustlers are motivated by the potential to earn passive income
- 24% of side hustlers are motivated by the desire to build a personal brand
Interpretation
In a world where side hustles have become the new norm, the statistics illuminate a diverse landscape of motivations driving individuals to juggle multiple gigs alongside their main hustle. It seems that for 50% of side hustlers, it's all about satisfying those impulsive shopping urges with some extra cash, while 42% are living the dream by finding passion in their side ventures. Meanwhile, the pragmatic 48% are strategically diversifying their income streams, and the curious 36% are seizing the opportunity to expand their skill set. With 52% reporting an improved quality of life, it's evident that these hustles are not just about the money but also about personal growth and fulfillment. Whether it's the allure of flexibility, the pursuit of passion, the promise of passive income, or the quest for a personal brand, side hustlers are a force to be reckoned with in the ever-evolving gig economy.
Popular Side Hustles
- Online selling is the most popular side hustle, with 58% of side hustlers engaging in it
- Freelancing is the second most popular side hustle, with 13% of side hustlers engaging in it
- Food delivery is the third most popular side hustle, with 10% of side hustlers engaging in it
- Ride-sharing is the fourth most popular side hustle, with 9% of side hustlers engaging in it
- Pet-sitting is the fifth most popular side hustle, with 7% of side hustlers engaging in it
- Tutoring is the sixth most popular side hustle, with 6% of side hustlers engaging in it
- Freelance writing is the seventh most popular side hustle, with 5% of side hustlers engaging in it
- Virtual assistance is the eighth most popular side hustle, with 4% of side hustlers engaging in it
- Photography is the ninth most popular side hustle, with 3% of side hustlers engaging in it
Interpretation
In today's bustling gig economy, it seems everyone is hustling on the side, with online selling leading the pack as the reigning monarch of side hustles. It's no surprise that freelancing comes in as the stylish runner-up, followed closely by food delivery for those with a taste for extra income. If you find yourself driving in circles, not to worry, as ride-sharing and pet-sitting offer a friendly backseat for side hustlers. For those who prefer imparting knowledge, tutoring and freelance writing are the scholarly and creative choices, while virtual assistance and photography round out the lineup for the tech-savvy and visually inclined hustlers. Remember, in the realm of side hustles, there's a niche for everyone, so go forth and hustle with flair!
Popularity and Interest
- 54% of Americans have or are interested in having a side hustle
Interpretation
In a world where "side hustle" has become more common vernacular than "TGIF," a staggering 54% of Americans are donning their entrepreneurial hats or eyeing them longingly from afar. This tide of ambition speaks not only to the economic reality of juggling multiple income streams in a gig economy, but also to a deeper yearning for autonomy and creativity in one's professional pursuits. So, whether you're crafting homemade candles or monetizing your unparalleled gift for puns, rest assured that you're in good – and incredibly busy – company.
Time Investment
- 46% of side hustlers spend less than 10 hours per week on their gig
- The average side hustler has been doing their gig for 3.5 years
- The average side hustler spends 13 hours per week on their gig
- The average side hustler works on their gig 11 hours per week
- The average side hustler has been doing their primary gig for 2.7 years
Interpretation
Side hustlers sure know how to keep things interesting with their juggling acts! Spending less than 10 hours a week on their side gig, these modern-day multitaskers are defying gravity with their time management skills. With an average of 3.5 years under their belt, these seasoned side hustlers have truly mastered the art of the hustle. Clocking in at 13 hours a week on their gig, it's clear that dedication is their middle name. Working an average of 11 hours a week, side hustlers are proving that double duty is the new normal. And with 2.7 years invested in their primary gig, they are truly the ultimate hustlers, balancing it all with finesse and flair.
Trends and Growth
- 61% of side hustlers started their gig in the last 3 years
- The gig economy is expected to reach $455 billion by 2023
- 24% of Americans plan to start a side hustle in the next 12 months
- 35% of side hustlers have multiple gigs
- The average side hustler has 2.1 gigs
Interpretation
In a world where the term "side hustle" used to conjure up images of basement Etsy shops and questionable MLM schemes, it seems the hustle game has evolved. With 61% of side hustlers jumping on the bandwagon in the last 3 years alone, it's no surprise that the gig economy is projected to hit a whopping $455 billion by 2023. And with 24% of Americans itching to dip their toes into the side hustle waters in the next year, it seems like everyone's in on the game. But let's not forget the true hustlers – the 35% juggling multiple gigs and the average side hustler with 2.1 side hustles under their belt. It's a brave new world out there, where the side hustle is no longer just a way to make ends meet but a lifestyle choice.
