If you have been juggling gig apps, freelancing, weekend jobs, or turning a hobby into a full-time career in the past year, you are part of the many Americans who have been dedicated to a side hustle.
According to Bankrate’s Side Hustles Survey, more than one-third (36 percent) of U.S. adults earn extra income beyond their main source of income through a side hustle.
While side hustles offer the opportunity to pursue passions or grow a new business, for many Americans, it serves as a way to cover basic living expenses. 36 percent of side hustlers use their additional income to pay for necessities like rent and groceries, and 32 percent believe they will always need this extra work to make ends meet.
Despite a decrease in the overall percentage of Americans with a side hustle, it is still a prevalent way for individuals to earn extra money. Nearly half of Gen Zers and millennials engage in side hustles, with 36 percent of U.S. adults participating in a side hustle in 2024.
While it’s admirable that so many Americans are putting in extra time and effort on their side hustles, it’s unfortunate that most are doing so simply to fund their expenses.
— Ted Rossman, Bankrate Senior Credit Card Analyst
Bankrate’s insights on side hustles
- Side hustling is bringing in more money year-over-year. The average side hustlers say they make $891 on average per month in extra income aside from their main source of income, up from $810 in 2023.
- Most side hustlers started after 2023. 52% of side hustlers have been making money on the side for two years or less.
- Side hustlers are roughly equally split on how they spend their money. 37% of side hustlers agree they use at least some of their side hustle income to fund discretionary spending; 36% use at least some to pay for regular living expenses; 31% save at least some and 20% use it to pay down debt.
- Side hustling isn’t always a one-time gig. 32% of side hustlers think they will always need a side gig to make ends meet.
Nearly half of Gen Zers and millennials have a side hustle
The percentage of Americans with a side hustle decreased slightly year-over-year, but it’s still a common way for people to bring in extra cash. Around one-third (36 percent) of U.S. adults have a side hustle in 2024, only down slightly from 39 percent in 2023.
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Side hustles are especially popular with younger adults. Gen Zers lead the way with 48 percent engaging in side hustles, followed by Millennials at 44 percent, Gen Xers at 33 percent, and Baby Boomers at 23 percent. Parents of young children are more likely to have side hustles compared to childless adults and those with adult children. The rising cost of living is driving the popularity of side hustles, with many Americans taking on extra work to make ends meet.
On average, side hustlers make $891 per month in extra income, with Millennials earning the most at $1,129 per month. More than a quarter of side hustlers make over $500 per month, with 21 percent of Gen Z side hustlers falling in this category. Men make more on average from side hustles compared to women, with men earning $1,034 per month and women earning $735 per month.
The majority of side hustlers have been doing it for two years or less, with Gen Z and Millennials leading the way in this category. Nearly one-third of side hustlers believe they will always need a side hustle to make ends meet, while 16 percent plan to turn their side hustle into their main source of income. Overall, side hustles continue to be popular as a means to cover expenses, save, or pursue personal goals.
As long as individuals have the time and motivation to achieve additional financial objectives, they will dedicate extra hours to accomplish them.
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FAQs
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A side hustle is any additional income someone earns alongside their main source of income, such as their primary job.
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On average, side hustlers make $891 per month, according to Bankrate’s Side Hustles Survey.
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Although side hustlers make $891 per month on average, according to Bankrate’s Side Hustles Survey, 25% of individuals earn between $1 and $50 per month through their side hustle. It may require more effort and time before your side hustle becomes worthwhile.
Methodology
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,332 US adults, of whom 822 have side hustles. Fieldwork was undertaken between 10th–12th June 2024. The survey was carried out online and meets rigorous quality standards. It employed a nonprobability-based sample using both quotas upfront during collection and then a weighting scheme on the back end designed and proven to provide nationally representative results.