Why So Many Millennials Have a Side-Gig
Millennials hustle hard. You may have heard that 4 million American currently have a side-gig. So what exactly is a side-gig? A smaller job that you do in addition to your main job to make a little extra cash.
Millennials are known for being the generation with side hustles. That’s because the people most likely to have side hustles are thos aged 18 to 26, and some of them are making upwards of $500 a month.
Right now, about half of all Millennials have a side-gig. So now that I’ve shown you the numbers, you know that side-gigs are a big deal for us. When I was in college I had a small internship as a side-gig where I’d run social media campaigns for local businesses. I also have friends who have side-gigs like dogsitting, housesitting, babysitting, and driving for Uber.
“I started driving for Uber when I heard from a friend that they made about $200 more during the week just driving after work... I only drive on weekends and holidays but it gives me that extra cash to save for a vacation at the end of summer..” - Jane, 28, Salt Lake City, Utah
That means a lot of people are using their free time to make more money. So, why have millennials latched on to this trend while baby boomers and Gen Xers continue to live on one paycheck?
We know how to use our phones to make money.
Smart phones have changed the game for working millennials. We have potential income at our fingertips, and can make money through a list of apps like Poshmark, TaskRabbit, Rover, Fiverr and iPoll.
Not only are the opportunities easily available, but they’re convenient. Translation: you don’t even have to leave your house! As long as you have a strong internet connection, and you’re always contactable, you can work from the couch or while lounging by the pool. Having a side-gig means having a flexible, convenient, easy way of bringing in more income for yourself.
Basically, you can use your phone to make up to $500 a month on the side. Not bad.
The top side-gigs for millennials are selling items online, clothing and accessories, cleaning, marketing, and cooking and baking. And what are we using our side-gigs for? Millennials are experience-seekers after all...oh, and living is getting more expensive!
In some cities, the cost of living has increased drastically in the last few years. On top of that, Millennials have been name the “wanderlust” generation because they love to travel so much. In order to afford all that travel, as well as pay upwards of $1,000 in rent in some major cities, it’s no wonder Millennials are taking up side-gigs. Millennials also love local products, and top-tier technology. These things don’t come cheap!
If you’re a millennial looking for extra cash, consider taking up a side-gig. Create a budget, pick a savings goal (a week in Hawaii, maybe?) and figure out what you’re passionate about. It’s time to turn that passion into a paycheck!
Do you have a side hustle? Tell us about it!