With inflation at a 40-year high, more people across the country have started doing “side hustles” to make extra cash.
One-third of Americans have a side hustle, according to a survey done by Zapier.
The survey also broke down the motivations behind side hustles.
The main reason was passive income, money that can be earned quickly with a minimum amount of work.
The second was for personal enjoyment and the third was for income diversity — gaining money from multiple different sources.
Nick Loper, founder of the blog “Side Hustle Nation”, which has been featured in Forbes Magazine and Business Insider, shared why he believes most people decide to look for additional work.
Loper said some may find that they need to make ends meet and need to find a way to quickly make extra money.
But some may already have a job that pays well, but it isn’t something they are necessarily passionate about.
Loper said he usually sees people making extra money the most in three categories.
Some freelance and get paid for their time, skills, or expertise.
While others may make money from selling things online or repurposing old products into new ones.
Lastly, some become content creators or have audience-based businesses, like social media.
As the cost of living increases, it’s likely more people will be turning to other sources of income to make ends meet.