By Staff Writer: Jacob Mattox
Side hustles are known as flexible, secondary jobs or income streams pursued in addition to a primary, full-time job to earn extra money, and in recent years they have become more popular than they have ever been. According to Bankrate.com, over 1 in 4 American adults have reported to have side hustles. Whether it’s driving for delivery apps, selling products online or doing freelance work, side hustles come in many shapes and sizes and more people are taking advantage of different opportunities to make more money.
One of the biggest causes of this rise in popularity is the cost of living in the United States. For many people, a single source of income often isn’t enough anymore. As surveys from federalreserve.gov show, many households struggle to keep up with expenses and side hustles offer a way to cover those expenses as well as present people with more opportunities to save their money.
Another appealing factor to those taking interest in side hustles is their level of independence. Instead of relying solely on a single source of income, people are able to have more control over their money while working as much as they’d like to.
While side hustles can be a great option for those looking to make some extra money, it isn’t always as easy as it seems. Research from Harvard Business Review suggests that balancing extra work with a full time job or school can be physically and emotionally draining, and not every side hustle will provide a steady source of income. But despite the challenges presented with taking a dive into a side hustle, its rise in popularity shows that people are willing to adapt to new financial realities in order to make ends meet and stay ahead.