A new study by Patriot Software reveals that side hustles are no longer just a passion project or extra pocket money; they’ve become a financial lifeline for millions of Americans. As inflation, rent hikes, and stagnant wages squeeze household budgets, more workers are turning to gig work to make ends meet.
The survey of 1,000 Americans found that 34% started their side hustle to cover basic living expenses, while 60% said inflation and rising costs were major factors in their decision. From selling crafts online to driving for rideshare apps, these side gigs have become a critical source of income in uncertain times.
In fact, 80% of respondents said their side hustle makes them feel more financially secure, and half of full-time workers reported spending more than 10 hours a week on their secondary income streams. For many, this isn’t just temporary relief, it’s the start of something bigger. Nearly one in four (24%) said they’re confident they could turn their side hustle into a full-time job.
The study also highlights a generational shift: 51% of Gen Z gig workers said their side hustle gives them more hope for the future.
As the traditional 9-to-5 model evolves, the line between full-time employment and gig work is becoming increasingly blurred. What was once a side project has now become an essential pillar of financial stability, signaling that the “side hustle economy” is here to stay.
Read the full study here: https://www.patriotsoftware.com/blog/accounting/side-hustle-nation-survey/