Managing a single job is proving to be an increasingly tough way to sustain the average American lifestyle.
According to financial advice site Bankrate, a recent poll conducted by YouGov indicates that one-third of U.S. adults are engaging in second-job “side hustles” to cover their bills and fund non-essential expenses.
“More than 1 in 3 (36 percent) side hustlers use their side hustle income to pay for regular living expenses, like rent and groceries, and 32 percent of side hustlers think they will always need that work to make ends meet,” the site commented alongside the poll results. “Even as inflation cools, the high percentage of people with a side hustle shows many Americans don’t feel they can sustain their lifestyles on one income alone.”
The site did not specify which side hustles people are taking on, but broadly defined it as “any extra income someone earns on the side of their main source of income.” Generational trends indicate that Gen Z is the most likely to have a side hustle, with nearly half reporting they had one. This number decreases among older generations.
Perhaps more concerning is the percentage of people who feel they will always need a side hustle to meet all their financial needs. While Gen Z is the most optimistic about not needing a side hustle indefinitely, older generations are far less certain.