A side hustle can be anything from photography to selling vintage clothing. It’s something separate from your full-time "day job" and for most, is usually something that fulfills an interest or a hobby. But if you’re part of Gen Z, having a side hustle is the norm.
Research fromAirtaskershows Gen Z is actually embracing side hustles. According to the study, 70% of Gen Z has some sort of second job with 34% saying that their side hustle takes up 20 hours or more each week.
There’s no one single reason why the younger generation is adopting side hustles more than the rest. However, when it isn’t possible to borrow from the“bank of mom and dad,”a second income is almost essential for moving up the financial ladder.
- 1 in 5 say they use the use their extra money to cover debt and expenses (thank you student loans)
- 1 in 7 say they use their side hustle income to save money for a deposit on a future house
It’s clear that Gen Zers are on a mission to achieve their own version of financial freedom, which according toanother recent survey,the generation defines as being able to stop full-time work. While the key to having a side hustle is not letting it take over your life, for Gen Z, turning a side hustle into a full-time job may also be the ultimate end goal.