The article below is a recap of reporting by CBS Philly’s Nicole Brewer.
There’s a growing trend in an effort to earn extra money. The side hustle has become really popular among Millennials, but they’re not the only ones doing it. Nicole Brewer joins us now to explain.
I just like the phrase side hustle I just think it sounds funny. A lot of people Google “side hustle” and you’ll find a whole slew of things from side hustle nation to side hustle school. Yea, there’s a school for it, it’s definitely a buzzword with a very big following.
You’ve probably heard of odd jobs, moonlighting in Mad Money right? What about a side hustle is that a part-time job something you do in your free time they can be a talent or ability or something that you make or sell?
People are gravitating towards it. More new research shows half of Millennials have a sideline that brings in cash apart from their main job.
Wow, that’s surprising to me. Millennials typically have a heavier debt load compared to one in four baby boomers. The survey conducted by godaddy.com found extra money motivates both groups, followed by the opportunity to pursue their passion.
People are probably bored at work. Online selling, considered the number one hustle which may explain why the younger set makes slightly more money while working fewer hours. They have a lot of new trendy things that are happening and they take advantage of that.
So how much are we talking each month? Every person I would say maybe makes between $200, and maybe like $2,500.
Many still hope it becomes their main gig so what does that say?
I think it says they don’t want to work the average nine-to-five job nowadays. You do almost anything you want as some formal way of making money, and that’s amazing.
Now I spoke to economist Jeff Narrow and he says that not only does this show a generational snapshot of an evolving economy, but he believes it should serve as a warning to employers to start addressing the needs of workers before it leads to a decrease in productivity and profitability and other negative things.
As found on Youtube