Survey: 39% of Americans Have a Side Hustle — and 44% Expect They’ll Always Need One

Survey: 39% of Americans Have a Side Hustle — and 44% Expect They’ll Always Need One

From delivering takeout orders and walking dogs to launching small businesses and consulting, Americans are putting in long hours outside their primary jobs. According to a recent Bankrate survey, nearly two in five U.S. adults (39%) currently have a side hustle.

A side hustle, by definition, is work done in addition to one’s main source of income — whether that’s a full-time job, a business, a pension, or other earnings. And for many people, this isn’t about earning “fun money.” Amid inflation and fears of a potential economic downturn, side hustle income often covers essential living costs rather than discretionary spending. In fact, 33% of side hustlers say they need the extra money to pay regular bills, far outpacing the 27% who use it for leisure purchases.

Key Takeaways from Bankrate’s Research

  • Average monthly income from a side hustle: $810

  • Primary use of side hustle income: 33% for living expenses, 27% for discretionary spending, 25% for savings, 12% for debt repayment

  • Most impacted group: 42% of side hustlers earning under $50,000 annually say they rely on the income for basic needs

  • Long-term expectation: 28% believe they’ll always need a side hustle to cover expenses

Who’s Side Hustling in 2023?

Bankrate’s data shows that younger Americans are the most active in the side hustle economy:

  • Gen Z (ages 18–26): 53% have a side hustle

  • Millennials (ages 27–42): 50%

  • Gen X (ages 43–58): 40%

  • Baby boomers (ages 59–77): 24%

Men are also more likely to have extra income streams, with 43% reporting a side hustle compared to 35% of women.

When broken down by household income, the difference between brackets is smaller than expected:

  • $100,000+: 45%

  • $80,000–$99,999: 35%

  • $50,000–$79,999: 39%

  • Under $50,000: 40%

How Much Do Side Hustlers Earn?

While it’s possible to make a significant amount from a side gig, most people earn far less than $1,000 per month. The average is $810, but:

  • 28% make only $1–$50 monthly

  • 14% earn $51–$100

  • 15% bring in over $1,000

Men tend to make more than women from their side hustles — $989 per month on average versus $603 for women.

By generation, the breakdown looks like this:

  • Millennials: $1,022/month

  • Gen Z: $753/month

  • Gen X: $670/month

  • Baby boomers: $646/month

Why Americans Are Side Hustling

For 33% of side hustlers, the extra work is essential for covering basic living expenses. Other motivations include:

  • 27%: Discretionary spending

  • 25%: Building savings

  • 12%: Paying down debt

Women are more likely than men to use this income for essentials (37% vs. 29%). Men, however, are more likely to direct it toward savings (29% vs. 21% for women).

Income level plays a big role in how side hustle money is spent:

  • Under $50,000/year: 42% use it for living expenses

  • $100,000+/year: Only 22% use it for essentials, while 38% use it for discretionary spending

According to Bankrate Senior Industry Analyst Ted Rossman, the trend is a sign of how inflation continues to pressure household budgets:

“I’m a big fan of using a side hustle to pay off expensive credit card debt or to boost your savings or investments. A side hustle can also be a great way to pursue an activity or potential career path that you’re interested in. Unfortunately, our research shows that people are much more likely to be pursuing a secondary source of income just to keep their head above water.”

Will Side Hustles Ever Go Away?

For many Americans, the answer is no.

  • 28% believe they’ll always need a side hustle to make ends meet

  • 26% expect they’ll always want one for extra spending money

  • 19% hope to eventually turn their side hustle into their main income source

Inflation has shifted how people view their extra work:

  • 23% are dedicating more time to side hustles because of rising prices

  • 10% are cutting back on side hustle hours due to inflation

  • 20% say they don’t want to work a side hustle at all, but they have no choice

Three Ways to Make the Most of Extra Income

Not everyone uses their side hustle earnings for bills. In fact, 67% say they put the money toward other goals. Here are three smart uses for extra funds:

  1. Build an Emergency Fund
    Aim for three to six months of expenses in a high-yield savings account for better interest and quick access.

  2. Pay Off Debt
    Free yourself from high-interest obligations using either the debt avalanche (highest interest first) or debt snowball (smallest balance first) method.

  3. Reward Yourself
    Whether it’s a short trip, a night out, or a hobby you’ve wanted to try, using part of your side hustle income for enjoyment can make the hard work feel worthwhile.

The Takeaway

Side hustles have moved far beyond being a temporary way to make extra cash — for millions of Americans, they’re now a permanent part of financial survival. As inflation, debt, and economic uncertainty persist, multiple income streams are becoming less of a luxury and more of a necessity.

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