28.5 million American workers will start or continue a side hustle in 2018 — are you one of them?
It’s not the hottest new dance move, and yet, 1 in 5 Americans across the country is doing it.
It’s called a side hustle, and for more than 28.5 million workers in the U.S., it’s a handy (and sometimes necessary) way to supplement their income.
The rise of the side hustle
A recent survey conducted by TSheets found 21 million people in the U.S. already have a side hustle — and they plan to keep it going in 2018. Another 7.5 million people plan to start a new side hustle over the next 12 months, and 4.5 million intend to quit their jobs sometime this year to focus on their side hustle full time.
That’s a lot of hustling. But what makes the side hustle so popular?
In short, a side hustle allows workers to focus on their passions and make money doing it. People can build a side hustle gradually while still holding a full-time job, making it a much safer way to start a new business while still earning a livable wage. According to data collected by Intuit and Emergent Research, the average on-demand worker (or side hustler) spends about 11 hours per week on their side job.
Side hustling through the ages
A recent survey conducted by GoDaddy found nearly a quarter of baby boomers currently have a side hustle. Many of them regret not choosing a career they’re passionate about, and starting a side job offered them the unique opportunity to follow their dreams later in life. And over half of baby boomers with side hustles hope to someday transition to their side hustle full time.
And they’re not the only ones.
Studies show 1 in 2 millennials currently has a side hustle. These side jobs empower them to follow their dreams, pursue their passions, and call their own shots (all things millennials seek and appreciate in the workplace). But side hustles also provide millennial workers with much-needed additional income.
Across the board, “earning extra income” is the No. 1 motivation for starting a side hustle — from millennials to boomers. A whopping 61 percent of side hustles are started because the worker needs more money.
According to Intuit, side hustle income accounts for nearly a quarter of the average on-demand worker’s household income.
Should you “do the hustle”?
Van McCoy would say “do it!” — and, ok, most experts would too.
According to Chris Guillebeau, author of Side Hustle: From Idea to Income in 27 Days, a side hustle isn’t just a source of extra income. It’s job security. Earning an extra paycheck allows you to take more chances in your day-to-day career. It opens up more opportunities you may not get by relying on your employer alone.
Even if your side hustle only brings in $500 a month, he argues, it’s enough to change your life financially — and it’s empowering to know you earned it on your own, by doing something you feel passionate about.
And, who knows, you might get lucky. “I see a lot of people who go on to make six figures or more from their side hustles. Once you go down this road,” says Guillebeau, “you never know what’s going to happen.”
Are you doin’ the hustle? We want to hear your story!