According to a new study by Herbalife, almost 40% of Americans are turning to side hustles or other supplemental income in today’s challenging economy. And of those with side hustles, 48% started it solely to make ends meet.
With the rising cost of living in the United States, people need to catch up on their monthly bills. This is one of the significant factors driving them towards side hustles.
Some other reasons include having more disposable income and being less reliant on a single source of income.
“More people are turning to direct selling opportunities to ease the financial strain,” says Humbi Calleja, Herbalife vice president, and general manager for North America.
According to the report, “Americans with side hustles commit almost ten hours per week to side hustles, with the most common including selling products on e-commerce websites and driving for ride-share.”
Besides that, some of the most popular side hustles that you can pick up are
Proofreading: Your job includes fine-tuning content that is already edited. You can either pick up freelancing gigs or find proofreading jobs.
Voice Acting: If you have a good voice, you can look into voice acting jobs.
Selling on Etsy: If you’re creative and artsy, there are many things you can sell on Etsy and make money. Here are some good Etsy shop ideas.
You can also look into odd jobs or jobs that pay weekly.
The survey also reveals that 66% who own a side hustle are millennials. They are also the most likely to say that their financial situation makes it difficult to pay for necessities compared to baby boomers.
What do you think about this? Do you agree? Do you “need” a side hustle?